News Archives for Markets - 2021-03-17

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Commodities

Rains in Argentina slow deterioration of drought-hit soy, corn crops

Dryness has blighted Pampas since mid-2020, prompting the Buenos Aires Grains Exchange last week to cut its soy and corn harvest estimates. Soy and corn are Argentina's main cash crops.
The rains have been very good. This has been the first storm front to make a complete sweep of the agricultural area in almost 45 days.

Published 17 Mar, 2021 08:51pm

Commodities

Arabica coffee prices weaken, sugar also down

*May arabica coffee fell by 0.75 cents, or 0.6%, to $1.3375 per lb. * May raw sugar fell by 0.25 cents, or 1.5%, to 16.05 cents per lb. * May London cocoa fell by 3 pounds, or 0.2%, to 1,734 pounds a tonne.

Published 17 Mar, 2021 08:35pm

Commodities

Sovecon ups its forecast for Russia's 2021 wheat crop due to favourable weather

"Crop conditions have improved dramatically in (Russia's) south thanks to mild winter and ample precipitation in recent weeks," Sovecon said in a note.
Sovecon added that it had reduced its estimate for Russia's winter grain sowings lost after winter to 9.9% from 16%.

Published 17 Mar, 2021 08:30pm

Commodities

Copper rises on signs of higher demand but dollar caps gains

Three-month copper on the London Metal Exchange (LME) rose 0.7% to $9,024.50 per tonne in official trading, having touched a 9-1/2 year peak of $9,617 last month.
We are still in a long term constructive environment for copper. Generally commodities are in a bull market given some of structural changes in terms of demand for energy metals.

Published 17 Mar, 2021 08:28pm

Commodities

Jordan tenders again to buy 120,000 tonnes feed barley

A new tender had been anticipated after Jordan cancelled its previous tender for 120,000 tonnes of barley on Tuesday after only one trading house participated.
Shipment in the new tender is sought in a series of possible combinations in 60,000-tonne consignments.

Published 17 Mar, 2021 05:44pm

Commodities

Corn gains for fifth day on strong demand, wheat eases

Corn near 1-week high on Chinese demand for US supplies.
Chicago soybeans, wheat ease.

Published 17 Mar, 2021 05:31pm

Commodities

Weekly world market rice prices: USDA

The data is adjusted for US milling yields and location, and the resulting marketing loan gain (MLG) and loan deficiency payment (LDP) rates applicable to the 2020 crop.
Rough prices were decreased, by $0.09 per cwt for long grain and by $0.10 per cwt for medium/short grain, from the previous announcement.

Published 17 Mar, 2021 05:28pm

Commodities

Palm posts longest winning streak since 2002, gains for 11th day

Production expected to rise in Indonesia, Malaysia – trader.
Malaysia keeps April export duty at 8%, raises reference price.
Rally in agricultural prices seen temporary – economist.

Published 17 Mar, 2021 05:27pm

Commodities

Gold holds ground as markets await US Fed policy decision

Fed decision due at 1800 GMT.
US dollar gains for fourth session.
Gold's climb above $1,740/oz opens space for further gains- analyst.

Published 17 Mar, 2021 05:24pm

Commodities

London copper rises on demand view, tight mine supply

Fundamentals remain healthy, especially with the supply and logistics disruptions in South America, while demand outlook looks promising based on positive macro data.
However, risk sentiment is definitely dampened with the rising US Treasury yield and a stronger US dollar in the short term, which definitely weighed on copper prices.

Published 17 Mar, 2021 05:19pm

Commodities

Australian wheat farmers double down after record harvest

"We had eight people bidding for it," said Moylan.

Published 17 Mar, 2021 02:06pm

Commodities

Indonesia's Jan palm oil exports up nearly 20% y/y

Meanwhile, in January, Indonesia produced 3.76 million tonnes of crude palm oil and kernel oil, down from 4.04 million tonnes in December and was the lowest monthly output since May.

Published 17 Mar, 2021 01:58pm

Commodities

Dalian coking coal leaps as plants ramp up production to chase profit

Construction steel rebar on the Shanghai Futures Exchange edged up 0.3% to 4,747 yuan a tonne.

Published 17 Mar, 2021 01:55pm

Commodities

Taiwan's MFIG buys about 65,000 tonnes corn from Argentina

One offer was made for South African corn at 268.82 US cents a bushel c&f over the Chicago September.

Published 17 Mar, 2021 12:59pm

Commodities

Malaysia maintains April crude palm oil export duty at 8%

"Malaysia CPO reference prices is up for 10 straight months and Indonesia is likely to follow suit when it announces its April CPO export tax," Varqa added.

Published 17 Mar, 2021 12:37pm

Commodities

Better exports outlook keeps palm steady amid higher output forecasts

Palm oil is affected by price movements in related oils as they compete for a share in the global vegetable oils market.

Published 17 Mar, 2021 12:36pm

Commodities

London copper edges up on demand view, tight mine supply

Meanwhile, tight copper concentrate supply remained a concern for downstream copper players.

Published 17 Mar, 2021 12:33pm

Commodities

US Cash Grains-Corn basis steady to firm, river soy basis easier

The corn basis firmed at a Blair, Nebraska, processing site a day earlier, and bids firmed on Tuesday at ethanol plants in Illinois and Indiana.

Published 17 Mar, 2021 12:00pm

Commodities

Nearby corn futures firm as USDA reports big sales to China

Chicago Board of Trade May corn was 4-3/4 cents higher at $5.54-1/4 a bushel, while May soybeans gained 3-3/4 cents to $14.23-1/4 a bushel.

Published 17 Mar, 2021 11:59am

Commodities

Corn gains for fifth day on strong demand, wheat firms

Russia is prepared to stop interfering in the regulation of grain exports when the market stabilises, the Interfax news agency cited Agriculture Minister Dmitry Patrushev as saying on Tuesday.

Published 17 Mar, 2021 11:55am

Commodities

Corn lingers around over one-week high on strong export demand

The sales came after the USDA on Monday reported one of the strongest weeks of corn export inspections on record.

Published 17 Mar, 2021 11:53am

Commodities

Palm oil may stabilize around 3,895 ringgit and rise

On the daily chart, the drop is regarded as a pullback towards the Jan. 6 high of 3,884 ringgit. The uptrend remains steady.

Published 17 Mar, 2021 11:46am

Commodities

CBOT corn may test resistance at $5.60-1/4

A break below $5.43 could be followed by a drop towards $5.25-1/4.

Published 17 Mar, 2021 11:42am

Commodities

CBOT soybeans may rise into $14.31-1/2 to $14.46-1/2 range

This fall may be extended into the range of $13.91-1/2 to $14.04-1/2 then.

Published 17 Mar, 2021 11:40am

Commodities

Weekly USDA wheat ratings improve in Kansas, Oklahoma

CHICAGO: The US Department of Agriculture’s (USDA) National Agricultural Statistics Service in a weekly crop ...