News Archives for Markets - 2021-03-10

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Commodities

Brazil's sugar production seen falling, despite new plants

Consultancy Datagro sees Brazil's center-south sugar output falling to 36.7 million tonnes in 2021/22 (April-March) versus 38.5 million tonnes in the previous season, saying mills will crush 3.5% less cane at a total of 586 million tonnes.
Sugar trader Sucden expects an even smaller sugar cane crush at 575-580 million tonnes. Sucden also expects less sugar content in the cane in the new crop, projecting total sucrose to fall around 10%.

Updated 11 Mar, 2021 12:48am

Commodities

Robusta coffee extends rebound, sugar also climbs

May robusta coffee rose by $10, or 0.7%, to $1,410 a tonne .
Vietnam's February coffee exports were down 23.5% from January at 122,833 tonnes, government customs data showed on Tuesday.

Published 10 Mar, 2021 08:18pm

Commodities

Copper prices to hit record high in next 12 months, China's Maike says

LME copper touched highest in 9-1/2 years last month at $9,617/T.
He makes proposal on strategic metal reserve to China parliament.

Published 10 Mar, 2021 08:16pm

Commodities

Prices ease after USDA report brings limited changes

Wheat dips after climbing 1.5% on strong global demand.
US forecasts strong demand for China's wheat imports.

Published 10 Mar, 2021 08:01pm

Commodities

Soybeans down 18-22 cents; wheat down 8-10 cents; corn down 5-8 cents

CBOT wheat sliding overnight after climbing Tuesday on increased Chinese demand for US wheat, noted in the US Department of Agriculture's monthly supply and demand report.
Ukraine's winter crops are in good condition, with limited areas of frost damage.

Published 10 Mar, 2021 07:44pm

Commodities

Brazil's CS sugar output seen falling to 36.7mn tonnes

Datagro expects the center-south sugar cane crop to fall to 586 million tonnes in 2021/22 from 607 million tonnes in 2020/21 due to unfavorable weather.
It projected ethanol production to fall to 29.4 billion liters versus 30.6 billion liters in the previous season.

Published 10 Mar, 2021 07:30pm

Commodities

Ukraine grain exports down 21.5pc so far in 2020/21 season

Traders sold 13.85 million tonnes of wheat, 14.53 million tonnes of corn and 3.97 million tonnes of barley, the data showed.
Exporting 13.85 million tonnes of wheat, traders have used more than 79% of the total export quota of 17.5 million tonnes imposed for the whole 2020/21 July-June season.

Published 10 Mar, 2021 06:39pm

Commodities

Palm reverses early losses, climbs to 13-year high on supply squeeze

Palm oil extends five-day rally to highest since March 2008.
March 1-10 exports fell 22% m/m.
Feb-end stocks, output fell more than expected.

Published 10 Mar, 2021 05:34pm

Commodities

Gold under pressure as US yields, dollar firm

European Central Bank policy meeting due on Thursday.
More platinum deficits loom after record 2020 undersupply – WPIC.
Platinum prices likely to reach $1,300/oz over 12 months – UBS.

Published 10 Mar, 2021 05:25pm

Commodities

CBOT corn may fall to $5.29-1/4

On the daily chart, corn breaks a support at $5.43. The break has opened the way towards $5.25-1/4.

Published 10 Mar, 2021 02:17pm

Commodities

NY cocoa may drop to $2,504

A break above $2,564 may lead to a gain to $2,639.

Published 10 Mar, 2021 02:14pm

Commodities

Algeria bought at least 450,000 tonnes milling wheat in tender

This was the same as initially estimated by traders on Tuesday evening.

Published 10 Mar, 2021 12:58pm

Commodities

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

Key support is at $14.17-3/4, a break below which may be followed by a deep drop into $13.58-1/4 to $13.95 range.

Published 10 Mar, 2021 12:10pm

Commodities

London copper rises on demand hopes; China's policy woes hit Shanghai prices

Peru's copper output could hit a record 2.5 million tonnes this year, its mining minister said.

Published 10 Mar, 2021 11:53am

Commodities

Malaysia end-Feb palm oil stocks fall as output hits 5-year low

The ringgit -- palm's currency of trade -- fell 0.3% against the dollar on Wednesday, making the commodity cheaper for holders of other currencies. It has lost nearly 3% of its value so far this year.

Published 10 Mar, 2021 11:49am

Commodities

Malaysia in talks with Saudi Arabia to raise palm oil trade to 500,000 tonnes

Malaysia is the world's second-largest palm producer and exporter after Indonesia.

Published 10 Mar, 2021 11:44am

Commodities

US Cash Grains-Corn bids soften at processors

Corn basis fell at locations in Chicago, Illinois, Burns Harbor, Indiana, and Blair, Nebraska, though the bid firmed in Decatur, Illinois.

Published 10 Mar, 2021 11:10am

Commodities

Wheat ticks down after rally, strong demand forecast limits decline

Port premiums for Brazilian soybeans have turned negative as rains disrupt harvesting and transportation of the oilseeds in key growing states such as Mato Grosso, analyst Luiz Roque from agribusiness consultancy Safras & Mercado said on Tuesday.

Published 10 Mar, 2021 11:08am

Commodities

Wheat inches lower, subdued USDA forecast caps losses

The most active wheat futures on the Chicago Board of Trade were down 0.6% at $6.52-3/4 a bushel by 0204 GMT, after ending 1.5% higher on Tuesday.

Published 10 Mar, 2021 11:04am

Commodities

Palm oil may revisit Tuesday low of 3,827 ringgit

A small rising channel indicates a drop towards 3,698 ringgit, which will be targeted when palm oil falls below 3,827 ringgit.

Published 10 Mar, 2021 10:51am

Commodities

Zimbabwe says China's Tsingshan to build iron ore mine, steel plant from May

The government previously said Tsingshan would also build a power station and had been given a lithium concession.

Published 10 Mar, 2021 10:37am

Commodities

Palm oil set to end five-day rally on plunge in March exports so far

Soyoil prices on the Chicago Board of Trade were down 0.5%.

Published 10 Mar, 2021 10:35am

Commodities

Argentine wheat planting facing pressure from rival barley, politics

BUENOS AIRES: Argentine wheat sowing is likely fall this year as farmers calculate the risk of state intervention in...