News Archives for Markets - 2021-02-18

<<>>

Commodities

Gold edges up as dollar and Treasury yields ease

Investors favour other assets to hedge inflation –analyst.
US Fed officials prepared to keep monetary policy easy.

Published 18 Feb, 2021 08:43pm

Commodities

Copper leaps to 9-year high as China accelerates metals rally

Other industrial metals also jumped, with aluminium at its highest since 2018, nickel its strongest since 2014, tin its strongest since 2012 and lead its highest since 2019.
Benchmark copper on the London Metal Exchange (LME) was up 2.9% at $8,631 a tonne in official trading after touching $8,633. Prices are up around 10% this month.

Published 18 Feb, 2021 08:10pm

Commodities

Wheat up 6-8 cents, corn mixed, soy steady/down 2 cents

Strength in Paris milling wheat, weakness in US dollar underpin wheat futures as well as ongoing concerns about potential crop damage from cold snap in US Plains.
Choppy trading expected. Corn market underpinned by technical buying but profit-taking expected to limit gains.

Published 18 Feb, 2021 07:41pm

Commodities

Brazil soy harvest moves slowly, corn advances despite early-season drought

Brazil, the world's largest soy producer and exporter, had harvested 9.1% of the soy area since this year's harvest began around January, less than half of the 21.4% harvested at the same point in 2020 and compared to a historical average of 19.7%, Datagro said.
The situation may force farmers to plant their second corn crop, which is sown after soybeans are reaped, outside the ideal window this season, analysts said.

Published 18 Feb, 2021 07:32pm

Commodities

Raw sugar hits highest in nearly four year; cocoa mixed

March raw sugar rose 0.8% to 17.10 cents per lb.
May New York cocoa rose 0.5% to $2,386 a tonne, having hit its lowest since mid-November on Wednesday.
May arabica coffee rose 0.5% to $1.2800 per lb as the market continues to recover from Friday's one-month low.

Published 18 Feb, 2021 07:11pm

Commodities

CBOT wheat may retest support at $6.38-1/4

This wave has a complex structure, consisting of three smaller waves.

Published 18 Feb, 2021 02:35pm

Commodities

Shanghai copper nears decade high on demand optimism, supply concerns

Tin gained 2% to $25,050 a tonne, after earlier hitting $25,125, its loftiest since February 2013, due to tight supply and limited availability of ships to transport the material.

Published 18 Feb, 2021 02:30pm

Commodities

Asia Coffee-Vietnam tepid after Lunar New Year break, supply scarce in Indonoesia

"Premiums were adjusted down since the benchmark prices in London rose," the trader said. "Even so, it is hard to export since the stockpile is too low and mini harvest hasn't come yet."

Published 18 Feb, 2021 01:16pm

Commodities

Turkey gets offers in tender to buy 25,000 tonnes sunflower oil

Offers are still being considered and no purchase has been reported.

Published 18 Feb, 2021 01:15pm

Commodities

Malaysia keeps March crude palm oil export tax at 8%

The world's second-largest palm exporter calculated a reference price of 3,977.36 ringgit per tonne for March.

Published 18 Feb, 2021 12:55pm

Commodities

Palm oil falls over 1% as Malaysia maintains high export tax

Palm had risen 2.7% in the previous session.

Published 18 Feb, 2021 12:25pm

Commodities

Wheat prices slip for second day as US cold weather fears ease

Strong demand continues to drive soybean prices higher.

Published 18 Feb, 2021 12:11pm

Commodities

Dalian iron ore jumps 7% on China post-holiday demand outlook

Dalian coke gained as much as 5.7% to 2,751.50 yuan a tonne, the strongest since Jan. 25.

Published 18 Feb, 2021 11:57am

Commodities

CBOT soybeans may revisit Feb. 9 high of $14.09-1/2

On the daily chart, there is a similar resistance at $13.97. The sideways move over the past two days could be due to an accumulation of the bullish momentum.

Published 18 Feb, 2021 11:17am

Commodities

Palm oil may test resistance at 3,662 ringgit

The exact move on Thursday remains unclear. The contract may open lower and retreat towards 3,521 ringgit or open high but close below 3,634 ringgit. A consolidation around 3,634 ringgit is highly anticipated.

Published 18 Feb, 2021 11:13am

Commodities

CBOT corn may test resistance at $5.55-3/4

On the daily chart, corn has broken a resistance at $5.51. It is likely to test the next resistance at $5.59, a break above which could lead to a gain to $5.72-1/2.

Published 18 Feb, 2021 11:08am

Commodities

Pakistan Mercantile Exchange - PMEX

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