News Archives for Markets - 2021-01-22

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Commodities

Gold falls over 1pc, pinched by firm dollar but on course for weekly gain

Platinum slips from over 4-yr high, but set for 2nd weekly gain.
US gold futures fell 0.8% to $1,851.50.

Published 22 Jan, 2021 09:32pm

Commodities

Wheat down 10-15 cents, corn down 4-8, soybeans down 15-20

Wheat lower for a fourth straight session on profit-taking and technical selling, and on spillover pressure from lower corn and soybeans.
CBOT March soft red winter wheat last traded down 12-3/4 cents at $6.48 per bushel.

Published 22 Jan, 2021 08:27pm

Commodities

Sugar hits 1-week low on risk-off sentiment; cocoa, coffee fall

March raw sugar fell 0.9% to 15.92 cents per lb.
March London cocoa fell 1.4% to 1,717 pounds per tonne.
March arabica coffee fell 1.5% to $1.2455 per lb.

Published 22 Jan, 2021 08:21pm

Commodities

Ivory Coast cocoa exporters curb exposure and inventories amid glut

"You have to adapt or lose a lot of money on LID," a director of an Abidjan-based international cocoa company said, requesting to remain anonymous because of the sensitivity of the issue.
Exporters said most of the cocoa purchased between October and December will now be used to honour around 80% of the January-March contracts.

Published 22 Jan, 2021 07:19pm

Commodities

Copper slips as China's coronavirus outbreak raises demand fears

Benchmark copper on the London Metal Exchange (LME) was down 1.8% at $7,877.50 a tonne.
Stocks in LME-registered warehouses have plunged to 1,030 tonnes, near record lows, with almost 40% already earmarked for delivery.

Published 22 Jan, 2021 06:03pm

Commodities

Tunisia buys soft wheat, durum wheat and feed barley in tender

Tonnage bought was initially unclear. The tender had sought 92,000 tonnes of soft wheat, 92,000 tonnes of durum wheat and 75,000 tonnes of barley.
Lowest price for the soft wheat was initially estimated at $314.98 a tonne c&f.

Published 22 Jan, 2021 06:01pm

Commodities

China's copper imports slide in fourth quarter of 2020

Sliding stocks in LME approved warehouses to support copper
Reasons for the expected lull include scrap, which typically starts to emerge at high prices.

Published 22 Jan, 2021 05:11pm

Commodities

Gold slips as dollar firms, still heading for best week in five

Silver poised for best week in five, up 1.5% so far.
Platinum slips from over 4-yr high, but set for 2nd weekly gain.

Published 22 Jan, 2021 04:41pm

Commodities

Russia's Sovecon ups forecast for Russia's 2021 wheat crop

"Heavy snowfall in recent weeks is likely to boost moisture reserves, which were abnormally low after a dry autumn," Sovecon, one of the leading agriculture consultancies in Moscow.

Published 22 Jan, 2021 04:34pm

Commodities

CBOT soybeans may fall to $13.27-3/4

A retracement analysis on the uptrend from $11.43 to $14.35-3/4 reveals a similar target of $13.23-3/4, the 38.2% level.

Published 22 Jan, 2021 12:35pm

Commodities

CBOT corn may fall into $5.02-3/4 to $5.09-1/2 range

Resistance is at $5.20-1/2, a break above which could lead to a gain to $5.24-1/2. On the daily chart, the contract is falling towards the Jan. 20 low of $5.12-3/4.

Published 22 Jan, 2021 12:33pm

Commodities

Gold dips as yields rise, but eyes best week in five

The European Central Bank reaffirmed its pledge to keep borrowing costs at record lows on Thursday to help the economy weather the pandemic.

Published 22 Jan, 2021 11:57am

Commodities

ASIA RICE-Indian prices gain, higher Thai prices dampen demand

"Exporters are buying moderately from farmers while waiting for the ongoing winter-spring harvest to peak."

Published 22 Jan, 2021 11:51am

Commodities

Soybeans set for first weekly loss in six on LatAm rains

Corn also benefited from export sales, as the USDA reported private sales of 336,500 tonnes of the US corn to unknown destinations for shipment in the 2020/21 season.

Published 22 Jan, 2021 11:47am

Commodities

Copper dips as China's rising COVID-19 cases spook demand outlook

Three-month copper on the London Metal Exchange fell 0.4% to $7,993 a tonne by 0229 GMT, while the most-traded March copper contract on the Shanghai Futures Exchange declined 0.4% to 58,920 yuan ($9,113.55) a tonne.

Published 22 Jan, 2021 11:22am

Commodities

Palm oil may rise into 3,348-3,381 ringgit range

Support is at 3,261 ringgit, a break below which may cause a fall into 3,173-3,221 ringgit range.

Published 22 Jan, 2021 11:12am

Commodities

Spot gold may fall into $1,832-$1,845 range

It is still too early to conclude that the downtrend from $1,959.01 has resumed, even though it may eventually extend to $1,769.

Published 22 Jan, 2021 11:08am

Commodities

Pakistan Mercantile Exchange - PMEX

ISLAMABAD: Pakistan Mercantile Exchange - PMEX (Formerly National Commodity Exchange Limited - NCEL) Trading Summary...