News Archives for Markets - 2021-02-25

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Commodities

Gold falls 1pc as elevated US yields hit safe haven appeal

Fed Chair Powell reaffirms extended loose monetary policy.
SPDR Gold Trust holdings slip to lowest since May 2020.
Palladium scales more than one-month high.

Published 25 Feb, 2021 09:35pm

Commodities

Copper jumps to 9-1/2 year high on inflation fears

Copper is about 6% below its record high of $10,190 a tonne hit in February 2011.
Three-month copper on the London Metal Exchange had climbed 1.2% to $9,417 a tonne.

Published 25 Feb, 2021 09:32pm

Commodities

EU raises 2020/21 wheat export forecast, cuts maize imports

That remained well below the 36.9 million tonnes estimated for 2019/20, reflecting a sharp drop in harvest supply this season, the Commission's grain supply and demand data showed.
That would be below estimated common wheat stocks of 9.8 million tonnes at the end of last season.

Published 25 Feb, 2021 09:09pm

Commodities

Container shortage slows Indian sugar exports, fuels price rally

Exports seen at 5 mln T vs 5.7 mln T yr ago -trade body head.
Contract signed for 3 mln T, only 1 mln T shipped so far.
Containers not available due to lower imports –dealers.

Published 25 Feb, 2021 09:08pm

Commodities

IGC raises forecasts for 2020/21 global wheat crop

In its monthly update, the inter-governmental body increased its global wheat crop forecast by 5 million tonnes to 773 million tonnes.
The IGC raised its forecast for Australia's wheat crop to 33.3 million tonnes from a previous forecast of 31.2 million and more than double the prior season's 15.2 million.

Published 25 Feb, 2021 09:06pm

Commodities

Corn down 5-10 cents, wheat down 7-9, soybeans down 3-5

The US Department of Agriculture reported export sales of US old-crop wheat at 167,800 tonnes, a marketing year low that fell below a range of trade expectations, while new-crop sales totaled 14,800 tonnes.
Corn futures slid to session lows after the USDA's weekly export sales data fell below trade expectations.

Published 25 Feb, 2021 09:00pm

Commodities

Indian export rates ease as supply picks up

Indian rice output to increase by 1.2% this year.
Supplies build in Vietnam, export prices unchanged.
Thai rates ease to $520-$560 a tonne.

Published 25 Feb, 2021 08:52pm

Commodities

Argentina says strikes deal to restart beef exports to Mexico

Argentina last year exported a total 900,699 tonnes of beef, of which 51% went to China.
The US Department of Agriculture (USDA) forecasts that Mexico will import 130,000 tonnes of beef in 2021.

Published 25 Feb, 2021 08:08pm

Commodities

Ukraine grain exports down 20pc so far in 2020/21 season

Traders sold 13.6 million tonnes of wheat, 13.6 million tonnes of corn and 3.96 million tonnes of barley, the data showed.
Ukraine is among the largest global grain exporters, selling about 57 million tonnes to foreign buyers in the 2019/20 season.

Published 25 Feb, 2021 06:53pm

Commodities

Copper jumps to new 2011 highs on inflation fears

Three-month copper on the London Metal Exchange was up 2.2% at $9,513.50 a tonne.
Copper is about 6% below its record high of $10,190 a tonne hit in February 2011.

Published 25 Feb, 2021 06:47pm

Commodities

China's gold imports via Hong Kong fall in January on COVID-19 travel curbs

Gold prices in the top consumer of the metal, flipped back into a discount - a situation that prevailed for most of 2020 as the pandemic curbed demand - in the week to Jan. 29.
Net gold imports via Hong Kong to China stood at 4.2 tonnes in January compared with 5.6 tonnes in December, while they were down 55% on an annual basis.

Published 25 Feb, 2021 06:35pm

Commodities

Cocoa gains, with New York hitting two-month high

May New York cocoa rose 0.9% to $2,577 a tonne.
May arabica coffee rose 1.1% at $1.3880 per lb, after peaking at a more than one year high of $1.3960 on Wednesday.
May raw sugar was little changed at 18.13 cents per lb, having hit a near four-year peak of 17.52 cents set on Tuesday.

Published 25 Feb, 2021 06:26pm

Commodities

Hit by Brazil shipment delays, Chinese soybean crushers forced to shrink output

Shortages of beans expected to last until at least mid-April.
China's soybean, soymeal prices rally as cargoes get delayed.
Higher meal inventories to cushion impact of delayed cargoes.

Published 25 Feb, 2021 06:20pm

Commodities

South Africa's 2021 maize harvest seen up 4pc on favourable weather

The CEC, giving its first production estimate for the season, pegged the 2021 harvest at 15.849 million tonnes, up from the 15.300 million tonnes harvested last season.
The government's estimate is lower than a Reuters poll of five traders and analysts that pegged maize output at 16.872 million tonnes.

Published 25 Feb, 2021 06:16pm

Commodities

Pakistan Mercantile Exchange - PMEX

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