[Dow Jones] Tocom rubber futures settle 2.8% higher as the U.S. Federal Reserve”s commitment to retain its easy monetary policy buoys market sentiment, driving risk appetite up. Some profit-taking pared gains as investors exited the market ahead of the exchange closure Friday for a public holiday. Tocom will reopen Monday, but will be closed again from Tuesday to Thursday. Traders expect the bourse to take external cues Monday in slow trade. There may be also be some downside risk due to caution. The benchmark October rubber contract settles Y10.5 higher at Y389.1/kg, off the intraday high of Y394/kg.

Source: Dow Jones

[Dow Jones] RSS3 rubber on the Agricultural Futures Exchange of Thailand settles 5.0% lower, tracking Tocom. AFET is weighed down by increasing output as major producer Thailand exits the wintering season, and is likely to continue taking Tocom cues in Thursday”s session, say traders. The benchmark AFET November RSS3 contract settles THB7.4 lower at THB141.1/kg, off the intraday low of THB140.2/kg.

Source: Dow Jones

[Dow Jones] Tocom rubber futures settle 1.5% lower, on a sharp fall in Shanghai rubber on concerns that Beijing may continue policy tightening, hurting demand for industrial commodities; a stronger JPY and weaker crude contribute; caution ahead of the Golden Week holidays in Japan will likely keep Tocom in range unless strong cues emerge; support is at Y380/kg and there”s limited upside, with initial resistance at Y400/kg, a Tokyo-based commodities analyst says. Benchmark October rubber settles Y6 lower at Y389.9/kg, off an intraday low of Y384.3/kg.

Source: Dow Jones

[Dow Jones] Tocom rubber futures settle lower on fund selling. “Physical supplies are tight,” says Tokyo-based commodities brokerage analyst. “You can see Tocom rubber is in backwardation and top heavy, however funds are liquidating or adjusting their positions–selling forward contracts and buying nearby contracts.” He adds the market may recover Tuesday, with some investors buying back their positions, but notes Tocom is volatile and the situation is “dangerous”; he tips support at Y380/kg and resistance at Y410/kg for the benchmark month. The market is cautious ahead of long holidays in Japan, with Tocom closed Friday and again next Tuesday-Thursday; despite a prolonged wintering season hitting output in major producers, Tocom rubber fell Y40 in one day alone before the three-day break in Japan this time last year, as investors exited the market. The September rubber contract–the previous benchmark–settles Y13.8 or 3.3% lower at Y405.2/kg, near the intraday low of Y404.9/kg. The new benchmark October contract opened at Y413/kg and settled at Y395.9/kg.

Source: Dow Jones

[Dow Jones] Tocom rubber futures settle higher after gaining as much as 3.1% in early trade before paring gains; investors lock in profits ahead of the weekend. Trade is thin Friday due to Easter holidays in many regions. “It”s mostly day trading today; prices couldn”t sustain the upward momentum due to the strong yen,” says a Thailand-based trader. Tocom is supported by supply-demand fundamentals, but prices have been volatile recently with macro-economic concerns clouding the demand outlook. Tocom is expected to continue taking external cues unless fresh fundamental cues emerge, say traders. Benchmark September rubber settles Y6.7 or 1.6% higher at Y419/kg, off the intraday high of Y425/kg.

Source: Dow Jones