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TECHNICALS-CBOT soybeans may test support at $10.28
For more technical analyses, please click SINGAPORE, July 7 (Reuters) - The CBOT soybean November contract SX25 may test support at $10.28 per bushel, a break below which could trigger a further fall to $10.20-3/4.The deep fall on July 7 strongly suggests the development of a wave C, which started a...Reuters
Mon, Jul 7
FACTBOX-Big tech rules, agriculture among issues in US trade talks with South Korea
By Jihoon Lee and Hyunjoo Jin SEOUL, July 7 (Reuters) - South Korea was one of the first countries to start U.S. trade talks when both sides agreed in April to craft a package aimed at removing tariffs, but it is now seeking an extension to the 90-day pause on 25% tariffs set to expire on July 9....Reuters
Mon, Jul 7
GRAINS-Wheat falls more than 3% on supply pressure; corn, soybeans drop
Northern Hemisphere harvest pressure drags down wheat pricesRussian government cuts wheat export tax to zero, IFX reportsCrop-friendly weather boosts outlook for corn, soybeansBy Naveen Thukral SINGAPORE, July 7 (Reuters) - Chicago wheat futures slid more than 3% to a one-week low on Monday, as a...Reuters
Mon, Jul 7
METALS-Copper prices fall amid uncertainty over US trade talks
By Hongmei Li SINGAPORE, July 7 (Reuters) - Copper prices on the Shanghai Futures Exchange and London Metal Exchange fell on Monday, pressured by concerns over U.S. trade negotiations and uncertainty surrounding potential tariffs ahead of President Donald Trump's July 9 deadline.The three-mon...Reuters
Mon, Jul 7
Goldman Sachs expects OPEC+ members to increase oil production by 550,000 bpd in September
July 6 (Reuters) - Goldman Sachs said it expects a group of eight OPEC+ members to lift oil production quotas by 550,000 barrels per day in September, which would complete the unwinding of 2.2 million bpd of voluntary cuts, as they look to normalize spare capacity amid resilient global oil demand.Th...Reuters
Mon, Jul 7
WTI slumps to near $65.00 as OPEC+ hikes August output larger than expected
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $65.00 during the early Asian trading hours on Monday. The WTI price slumps after the Organization of the Petroleum Exporting Countries and allies (OPEC+) agreed to a bigger-than-expected production increase in August.
Fxstreet
Mon, Jul 7
TECHNICALS-Commodities intraday targets/key levels
For more technical analyses, click SINGAPORE, July 7 (Reuters) - Contract Target Support/Resistance Brent oil $67.03/$66.36res $67.79/$68.31Palm oil (3rd month)4,032/4,008 ringgitres 4,079/4,108 ringgitWTI* $65.38/$64.86res $66.23/$66.75Spot gold$3,306/$3,293res $3,338/$3,348/$3,366LME c...Reuters
Mon, Jul 7
Gold Price Forecast: XAU/USD attracts some sellers to below $3,350 amid tariff uncertainty
The Gold price (XAU/USD) attracts some sellers to around $3,320 during the early Asian session on Monday. The precious metal edges lower as the US June Nonfarm Payrolls (NFP) report altered the US Federal Reserve (Fed) policy expectations.
Fxstreet
Mon, Jul 7
Death toll from Texas floods reaches 78; Trump plans visit
Ten girls and a counselor missing at a summer campSearch for survivors continues amid fears of more floodingTrump plans to visit disaster sceneQuestions arise over federal response cutsBy Sergio Flores, Rich McKay and Tim Reid HUNT, Texas, July 6 (Reuters) - The death toll from catastrophic flood...Reuters
Mon, Jul 7
OPEC+ agrees to a bigger-than-expected production increase in August - Bloomberg
The Organization of the Petroleum Exporting Countries and allies (OPEC+) agreed on Saturday to hike their collective crude production by 548,000 barrels per day (bpd), as they continue to unwind a set of voluntary supply cuts, per Bloomberg. This is faster than the 411,000 bps expected.Fxstreet
Sun, Jul 6
Crew rescued in Red Sea after attack on Greek vessel near Yemen, maritime security firms say
Ship attacked with gunfire and rocket-propelled grenades from small boats, missiles Fire on board after sea drone hitMaritime security sources say ship has taken on waterNo claim of responsibility; security firm says bears hallmarks of HouthisFirst such incident reported since April CAIRO/ATHENS,...Reuters
Sun, Jul 6
UK's Reeves announces National Wealth Fund investment in carbon capture
LONDON, July 7 (Reuters) - British finance minister Rachel Reeves will announce on Monday a 28.6 million pound ($39 million) investment by the National Wealth Fund in a carbon capture project that could create jobs in central and northern England.Last year, Britain said it would provide funding of u...Reuters
Sun, Jul 6
RPT-EXPLAINER-What is Japan's trade policy on rice?
By Kaori Kaneko TOKYO, July 4 (Reuters) - U.S. President Donald Trump has complained that Japan was not buying American rice, putting pressure on Tokyo as it struggles to seal a trade deal before so-called "reciprocal" tariffs are set to kick in on July 9. Tokyo has not budged on rice, a ...Reuters
Sun, Jul 6
Oil slips 1% after OPEC+ accelerates output hikes
SINGAPORE, July 7 (Reuters) - Oil prices slipped 1% at the start of trading on Monday after OPEC+ accelerated output hikes and raised concerns about oversupply.Brent crude futures LCOc1 fell 67 cents, or 1%, to $67.63 a barrel by 2308 GMT, while U.S. West Texas Intermediate crude CLc1 was at $65.80,...Reuters
Sun, Jul 6
Death toll from Texas floods reaches 69, including 21 children
Eleven girls and a counselor missing at a summer campHundreds of people rescued from floodwater in TexasBy Sergio Flores, Rich McKay, Tim Reid HUNT, Texas, July 6 (Reuters) - The death toll from catastrophic floods in Texas reached at least 69 on Sunday, including at least 21 children, as the sea...Reuters
Sun, Jul 6
Carney says new oil pipeline proposal in Canada is highly likely
July 6 (Reuters) - A new oil pipeline to the British Columbia coast is highly likely to be included on a list of projects deemed to be of national importance to the Canadian government, Prime Minister Mark Carney told the Calgary Herald newspaper in an interview published on Sunday. "I would th...Reuters
Sun, Jul 6
China studies resuming chicken imports from Brazil, minister says
By Rodrigo Viga Gaier RIO DE JANEIRO, July 6 (Reuters) - China is studying ways to soon lift its ban on imports of chicken meat from Brazil, in place since the South American nation reported a case of bird flu on a commercial farm in May, Brazilian Agriculture Minister Carlos Favaro said on Sund...Reuters
Sun, Jul 6
Suriname parliament elects Simons as first female president
Simons set to helm country on cusp of predicted oil boomShe leads party founded by former president, fugitive BouterseElection agreed in coalition deal after May voteSimons' and VP-elect Rusland's inauguration set for July 16By Ank Kuipers PARAMARIBO, July 6 (Reuters) - Suriname's par...Reuters
Sun, Jul 6
Putin says that globalisation is obsolete and the future belongs to emerging markets
MOSCOW, July 6 (Reuters) - Russian President Vladimir Putin told BRICS leaders on Sunday that the era of liberal globalisation was obsolete and that the future belonged to swiftly growing emerging markets which should enhance the use of their national currencies for trade.Putin spoke via video link ...Reuters
Sun, Jul 6
