News Archives for Markets - 2021-03-09

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Commodities

Copper prices slip as China cools growth and credit plans

"The trigger for lower prices came from the latest communication from the Chinese government," said Gianclaudio Torlizzi at consultancy T-Commodity.
Three-month copper on the London Metal Exchange (LME) droped by 1.4% to $8,877 a tonne in offical trading, erasing the previous session's 1.1% gain.

Published 09 Mar, 2021 08:49pm

Commodities

Wheat up 1-3 cents; soybeans, corn down 3-5 cents

CBOT wheat inching higher overnight after the USDA offered mixed ratings for US winter wheat conditions. Gains are limited by rain forecasts across the US Southern Plains.
Russian wheat export prices fell last week after two weeks of growth due to lower prices in Chicago and Paris, analysts said.

Published 09 Mar, 2021 08:45pm

Commodities

Brazil to harvest at least 130mn tonne of soybeans

In January, Safras & Mercado forecast Brazil's soy production at 133.1 million tonnes, an estimate that should be lowered in coming days as rains during the harvest spoil quality and hurt yields in midwestern states, he said.

Updated 09 Mar, 2021 09:32pm

Commodities

Coffee prices fall on demand concerns; sugar also slips

May arabica coffee fell 0.2% to $1.2885 per lb.
May raw sugar fell 0.6% to 16.11 cents per lb after sliding by 1.2% on Monday.
May London cocoa fell 0.2% to 1,758 pounds a tonne.

Updated 09 Mar, 2021 09:30pm

Commodities

Copper prices slip as China cools growth and credit plans

China is widely expected to rein in coronavirus-induced stimulus and cool credit growth to contain debt risks while maintaining support for ailing small firms. It has also set modest growth targets.
Three-month copper on the London Metal Exchange (LME) declined 1.4% to $8,883 a tonne.

Updated 09 Mar, 2021 09:30pm

Commodities

CBOT soybeans may retest resistance at $14.62-1/2

On the daily chart, the contract is riding on a wave 5, which may travel to $15.51, as suggested by the depth of the wave 4.

Published 09 Mar, 2021 12:48pm

Commodities

CBOT corn may retest support at $5.36-1/4

Resistance is at $5.47-3/4, a break above which could lead to a gain to $5.52.

Published 09 Mar, 2021 12:44pm

Commodities

Argentine wheat planting facing pressure from rival barley, politics

But record barley exports to China appear to be pushing growers toward that crop.

Published 09 Mar, 2021 12:17pm

Commodities

Malaysia targets to increase 2021 palm oil exports to $18.2bn

Malaysia is the world's No.2 palm producer and exporter.

Published 09 Mar, 2021 12:13pm

Commodities

Palm oil may drop into 3,801-3,834 ringgit range

It happened to appear around a short rising trendline.

Published 09 Mar, 2021 11:09am

Commodities

Soybeans rise for fourth session on South American supply woes

But ratings improved in Oklahoma, with 53% of the state's crop rated good to excellent, up from 46% the previous week.

Published 09 Mar, 2021 11:07am

Commodities

Iron ore hits 2-week low as Chinese city curbs steel output

The most-active May iron ore contract on the Dalian Commodity Exchange fell as much as 4% to 1,100 yuan ($168.43) a tonne, the weakest since Feb. 24.

Published 09 Mar, 2021 11:03am

Commodities

Palm oil gains for fifth straight day on stronger soyoil, crude

Palm touched 10-year highs on Monday before closing 3.6% higher.

Published 09 Mar, 2021 10:42am

Commodities

Copper edges down as a firm dollar weighs

The dollar held near a 3-1/2-month high against its rivals as higher bond yields.

Published 09 Mar, 2021 10:31am

Commodities

CBOT corn ends choppy session higher on South American weather concerns

The US Department of Agriculture reported export inspections of US corn in the latest week at 1,544,460 tonnes, in line with trade expectations for 1.2 million to 1.8 million tonnes.

Published 09 Mar, 2021 10:12am

Commodities

CBOT soybeans approach 7-year high on South America weather woes

Brazilian farmers harvested an estimated 35% of the country's soybean acreage through last Thursday, down from 49% a year ago and the slowest pace in a decade, agribusiness consultancy AgRural said.

Published 09 Mar, 2021 10:10am

Commodities

Aussie, kiwi up

SYDNEY/WELLINGTON: The Australian and New Zealand dollars rose against the greenback on Monday as the passage of a...