News Archives for Markets - 2021-01-28

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Commodities

Egypt has planted more than 3.1mn feddans of local wheat so far

Egypt is approaching its targeted area of 3.5 million feddans, said Abbas El-Shennawy, head of the agricultural services sector at the ministry.

Published 28 Jan, 2021 09:27pm

Commodities

US farmers expected to expand soy and corn acreage

Since the price of both soy and corn are higher, the price signals are really to plant more of both, and that's what we expect to see - expansion of both into 2021.
US growers can declare prevented plantings, usually due to weather conditions, as part of crop subsidy programmes.

Published 28 Jan, 2021 09:11pm

Commodities

Cocoa futures slip to two-week low, raw sugar edges up

March New York cocoa was down $23, or 0.9%, at $2,481 a tonne.
March raw sugar rose 0.03 cents, or 0.2%, to 15.83 cents per lb.
March arabica coffee rose 0.2 cents, or 0.2%, to $1.2570 per lb.

Published 28 Jan, 2021 09:07pm

Commodities

McDonald's earnings miss estimates as Europe lockdowns squash sales

Several European countries announced tough restrictions as the health crisis spiraled out of control late last year.
McDonald's said the restrictions were impacting markets abroad, particularly those with fewer drive-thru locations.

Published 28 Jan, 2021 09:00pm

Commodities

Gold demand shrinks in 2020 on virus fallout: industry

Demand for gold jewellery slumped 34 percent to a record-low 1,411.6 tonnes from 2019.

Published 28 Jan, 2021 07:47pm

Commodities

Firmer dollar, equities sell-off push Shanghai copper to 1-month low

The most-traded March copper contract on the Shanghai Futures Exchange dropped as much as 2% to 57,620 yuan ($8,895.82) a tonne, a level unseen since Dec. 23, 2020.
Three-month copper on the London Metal Exchange edged 0.1% lower to $7,818 a tonne, and nickel fell 1.4% to $17,660 a tonne and tin shed 1% to $22,575 a tonne.

Published 28 Jan, 2021 07:43pm

Commodities

Gold falls as safe-haven appeal shifts to dollar

Spot gold fell 0.5% to $1,835.35 per ounce.
US gold futures shed 0.6% to $1,834.30.
"Gold seems to be in a short-term period of consolidation."

Published 28 Jan, 2021 07:12pm

Commodities

Algeria bought about 630,000 tonnes to 660,000 tones wheat in tender

Initial estimates late on Wednesday put the purchase at between 500,000 tonnes to about 660,000 tonnes.
It was mostly believed to have been purchased at between $312 to $313 a tonne c&f, traders said.

Published 28 Jan, 2021 07:11pm

Commodities

Jordan issues new tender to buy 120,000 tonnes wheat

To buy 120,000 tonnes of milling wheat

Published 28 Jan, 2021 06:52pm

Commodities

Russia's Polyus Q4 gold sales up 18pc y/y

Gold sales in the fourth quarter of 2020 were at $1.5 billion, up 18% year-on-year;
Polyus plans to produce 2.7 million ounces of gold in 2021 compared with 2.8 million ounces in 2020.

Published 28 Jan, 2021 06:35pm

Commodities

Japan's Showa Denko set to sell aluminum business to Apollo

Specifically, the Japanese materials maker plans to sell its aluminum rolled products business for electronic components as well as the aluminum can business.
The transaction is due to close by June, it said, without citing sources.

Published 28 Jan, 2021 05:59pm

Commodities

Jordan tenders to buy 120,000 tonnes feed barley

The tender deadline is Feb. 2.

Published 28 Jan, 2021 02:29pm

Commodities

NY coffee may test resistance at $1.2695

The third wave labelled c is unfolding towards the target zone.

Published 28 Jan, 2021 02:26pm

Commodities

Asia Coffee-Vietnam domestic prices trade in tight range as harvest ends

Meanwhile, in Indonesia's Lampung province coffee prices remain unchanged with Sumatran robusta beans being offered with a $250 premium to the March contract and a $290 premium to the April contract, traders said.

Published 28 Jan, 2021 01:23pm

Commodities

Corn, soybeans rise for fourth day on upbeat demand outlook; wheat slips

Wheat fell 0.6% to $6.54-1/2 a bushel as a firmer dollar made the grain less appealing to holders of other currencies.

Published 28 Jan, 2021 12:20pm

Commodities

China iron ore futures decline on sluggish pre-holiday downstream consumption

Spot 62% iron ore for delivery to China was unchanged at $167.5 per tonne on Wednesday from the previous session, according to SteelHome consultancy.

Published 28 Jan, 2021 12:13pm

Commodities

Australia's Fortescue sees sustained iron ore demand from China

Fortescue is also undertaking a detailed review of construction costs at its $2.6 billion iron bridge project, which is due to produce first ore in the first-half of 2022.

Published 28 Jan, 2021 11:35am

Commodities

CBOT soybeans target of $14.35-3/4 aborted

The contract lost its bullish momentum even below the resistance at $14.03, the 76.4% retracement of the fall from $14.35-3/4.

Published 28 Jan, 2021 11:09am

Commodities

Palm oil may test resistance at 3,426 ringgit

A break could lead to a gain to 3,606 ringgit.

Published 28 Jan, 2021 10:09am

Commodities

Tokyo rubber futures recover

TOKYO: Japanese rubber futures rose on Wednesday, recovering from a 3-week low, as concerns over the resurgence in...