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Markets - Commodities

Friday, February 26, 2021

Arabica coffee slips as Brazil currency extends fall
Commodities

Arabica coffee slips as Brazil currency extends fall

  • May London cocoa rose by 8 pounds, or 0.5%, to 1,757 pounds a tonne, underpinned by sterling weakness against the dollar.
  • May raw sugar fell by 0.21 cent, or 1.25%, to 16.63 cents per lb, extending its retreat from the almost four-year peak of 17.52 cents set on Tuesday.
Published 26 Feb, 2021 09:30pm
US wheat, soybeans, corn fall on profit taking
Commodities

US wheat, soybeans, corn fall on profit taking

  • Corn and soybean futures also weakened, with traders noting a lack of export activity this week even with Chinese buyers back on the market following the Lunar New Year celebrations.
  • "A bull market needs to be fed everyday," said Mark Gold, founder of Top Third Ag Marketing. "We just do not see export numbers justifying these kind of prices."
Published 26 Feb, 2021 09:28pm
Soybeans down 18-23 cents, wheat down 11-12, corn down 5-9
Commodities

Soybeans down 18-23 cents, wheat down 11-12, corn down 5-9

  • Wheat futures head lower on profit taking at month's end and carry-over selling after Thursday's disappointing weekly US export sales report.
  • The CBOT reported no deliveries against CBOT March wheat on first notice day, as expected by traders, and 89 K.C. wheat deliveries, versus trade expectations for zero to 50 lots.
Published 26 Feb, 2021 08:58pm
Chile's Codelco reports bumper year for profits despite pandemic
Commodities

Chile's Codelco reports bumper year for profits despite pandemic

  • The 55% increase in profits came amid a surge in global metal prices and higher sales as global markets including Chile's main buyer China begin to rally from the pandemic.
  • Codelco said an 8.6% drop in direct cash costs to $1.294 per pound had also helped bolster profits, attributing these primarily to the lower price of inputs, a strengthening peso, upped production and a cash-saving drive by managers.
Published 26 Feb, 2021 08:47pm
Copper spirals lower as bond rout spooks investors
Commodities

Copper spirals lower as bond rout spooks investors

  • Three-month copper on the London Metal Exchange (LME) had slumped 3.2% to $9,112 a tonne .
  • On Thursday, LME copper hit its highest since August 2011 at $9,617 a tonne, 5.6% short if its record high of $10,190 in February 2011.
Published 26 Feb, 2021 07:07pm
Japan futures tumble, but books 17pc gain for February
Commodities

Japan futures tumble, but books 17pc gain for February

  • Osaka Exchange's rubber contract for August delivery finished 14.1 yen, or 4.9%, lower at 275.9 yen ($2.6) per kg. But it booked a 4% gain for the week and a 17% jump for the month.
  • The rubber contract on the Shanghai futures exchange for May delivery also tanked 945 yuan to finish at 15,990 yuan ($2,475) per tonne.
Published 26 Feb, 2021 06:36pm
Gold prices drop
Commodities

Gold prices drop

KARACHI: Gold prices on Thursday saw a drop on the local market, traders said. After a slight decline of Rs350, the...
Published 26 Feb, 2021 05:20am
PMEX daily trading report
Commodities

PMEX daily trading report

KARACHI: On Wednesday, at PMEX the traded value of Metals, energy, COTS/FX and indices was recorded at PKR 18.331...
Published 26 Feb, 2021 05:20am
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