wheat futures brokers

wheat futures brokers

September 14th, 2016

France’s wheat exports will fall to the lowest in more than a decade thanks to the dent to production from wet weather, with shipments outside the European Union to suffer a particularly sharp decline.

FranceAgriMer, in its first forecast for French soft wheat exports in 2016-17, pegged them at 11.91m tones – a drop of 43% year on year.

The decline, to the weakest volumes on data going back to 2006-07, reflected in particular weaker expectations for exports outside the EU, seen plunging by 63% year on year to 4.70m tonnes.

That would come in below the 4.91m tonnes recorded in 2007-08, a figure which also reflected a disappointing harvest.

However, this year’s crop proved particularly weak – pegged by FranceAgriMer falling 30% to 28.47m tonnes thanks to a yield which, at 5.45 tonnes per hectare, was the lowest in 33 years.

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cocoa futures news

cocoa futures news

September 9th, 2016

Cocoa futures plunged over 4% on the news that Côte d’Ivoire may cancel, and then remarket 200,000-250,000 tonnes of exports – threatening a round of fresh selling pressure.

Early on Friday, the news hit the market that exporters will have six days to furnish documentation for export contracts, including proof of a counterparty, or their exports will be resold by the state marketing board.

If all contracts are cancelled, that would equal nearly 15% of total Ivorian production last year.

Cocoa Futures: Unhedged exports

According to Reuters, domestic exporters purchased contracts for the 2016-17 season without securing a price with off-takers.

Since the fall in global prices, the exporter now faces heavy losses.

The cancellation of these contracts means that physical supplies which were previously thought sold now have to be remarketed to international buyers.

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gold futures news

gold futures news

August 8th, 2016

Gold edges lower but weaker dollar lends support Gold edges lower but weaker dollar lends support

Investing.com – Gold prices slipped lower on Friday, but losses were expected to remain limited as a globally weaker U.S. dollar continued to lend support to the precious metal.

On the Comex division of the New York Mercantile Exchange, gold futures for December delivery were down 0.16% at $1,339.35, not far from Wednesday’s three-week high of $1,350.50.

The December contract ended Thursday’s session 0.56% lower at $1,341.60 an ounce.

Futures were likely to find support at $1,323.20, the low from September 6 and resistance at $1,350.50, Wednesday’s high.

Gold prices weakened briefly after data on Thursday showing that U.S. initial jobless claims in the week ending September 3 decreased by 4,000 to a six-week low of 259,000 from the previous week’s total of 263,000. Analysts expected jobless claims to rise by 2,000 to 265,000 last week.

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