News Archives for Markets - 2021-01-29

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Commodities

Brazil's soybean crop forecast rises to 133.1mn tonne

Previously, Safras & Mercado has forecast Brazil's soybean crop at 132.5 million tonnes.
The area grown with soy this season is estimated at 38.6 million hectares (95.38m acres).

Published 29 Jan, 2021 08:48pm

Commodities

China books biggest deal yet for US corn

It also topped China's previous biggest purchase of 1.937 million tonnes of corn in July 2020.
Chinese buyers also picked up an additional 132,000 tonnes of corn - about two cargoes worth - for delivery in the 2021/22 marketing year.

Published 29 Jan, 2021 08:35pm

Commodities

Copper under pressure from higher dollar, stocks support

Benchmark copper on the London Metal Exchange traded little changed at $7,873.5 a tonne in official rings.
China's attempts to curb COVID infections are likely to put a damper on next month's Lunar New Year holiday,

Published 29 Jan, 2021 07:29pm

Commodities

Silver extends golden run as retail frenzy jitters linger

Gold down 1.5% for the month.
Silver set to post best week since early Nov., up 8%.
Palladium on track for biggest monthly decline since April.

Published 29 Jan, 2021 07:26pm

Commodities

Raw sugar recovers after hitting two-week low

March raw sugar rose 0.5% to 15.66 cents per lb.
March New York cocoa rose 0.3% to $2,517 a tonne.
March arabica coffee fell 0.9% to $1.2280 per lb.

Published 29 Jan, 2021 07:04pm

Commodities

European cocoa stocks fall 1.5pc in 2019/20

The inter-governmental body said the survey indicated stocks at the end of the 2019/20 season (October/September) stood at 774,651 tonnes, down 11,734 tonnes from a year earlier.
The ICCO has estimated there was a marginal global cocoa surplus of 19,000 tonnes in the 2019/20 season.

Published 29 Jan, 2021 06:18pm

Commodities

Corn holds firm near 7-1/2 year high on China demand

CBOT corn on course for 8% weekly gain after sharp rebound.
US reported this week 3.7 mln T in corn export sales to China.
Adverse S. America crop weather also supports corn, soybeans.

Published 29 Jan, 2021 05:54pm

Commodities

Honduran coffee export estimate slashed due to hurricane damage, roya

Honduran coffee growers were hammered by the intense rains wrought by Hurricanes Eta and Iota last November, which worsened a pre-existing outbreak of coffee leaf rust, also known as roya, a chronic problem for the country's farmers, Ordoñez said.

Published 29 Jan, 2021 12:25pm

Commodities

ASIA RICE-India prices hit 2-yr peak; Vietnam grapples with supply woes

Thailand's benchmark 5% broken rice prices widened slightly to $520-$530 per tonne on Thursday, from last week's $520-$526.

Published 29 Jan, 2021 11:53am

Commodities

Corn set for best week in nearly 7 months on China demand

Hot weather has prompted Argentina, the world's top exporter of soymeal livestock feed, to shave its estimate for its upcoming soy crop to 46 million tonnes, from 46.5 million tonnes earlier.

Published 29 Jan, 2021 11:34am

Commodities

Australian lithium miners break out of doldrums as EV demand booms

Higher prices may open the way for supply that had been shuttered because of low prices to come back.

Published 29 Jan, 2021 11:11am

Commodities

SK Hynix expects chip supply shortages in 2021 as Q4 profit surges

The South Korean company, which counts Apple Inc among its customers, reported an operating profit of 966 billion won ($868 million) in October-December, up from a low base of 242 billion won a year earlier.

Published 29 Jan, 2021 11:02am

Commodities

Malaysia palm reverses gains to catch up with cheaper rivals

Meanwhile, Indonesia set crude palm oil reference prices higher for February, increasing both export tax and levies.

Published 29 Jan, 2021 11:00am

Commodities

Zinc set for biggest monthly drop in 11 months on supply pressure

Zinc inventories in LME warehouses were last at 293,800 tonnes, down just 700 tonnes from the previous session where stockpiles hit their highest since June 2017 at 294,500 tonnes.

Published 29 Jan, 2021 10:52am

Commodities

Palm oil may test resistance at 3,426 ringgit

A retracement analysis on the fall from 3,888 ringgit to 3,160 ringgit reveals a target of 3,438 ringgit, the 38.2% level, which is near 3,426 ringgit.

Published 29 Jan, 2021 10:44am

Commodities

China steel rebar set for third straight weekly loss as inventories jump

Prices for steelmaking ingredients all fell.

Published 29 Jan, 2021 10:32am

Commodities

Pakistan Mercantile Exchange - PMEX

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