News Archives for Markets - 2021-03-24

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Commodities

Gold shrugs off higher yields, dollar after Powell testimony

Spot gold rose 0.5pc to $1,735.24 per ounce by 12:48 P.M EDT (1648 GMT). U.S. gold futures gained 0.6pc to $1,734.90.

Updated 25 Mar, 2021 12:06am

Commodities

Soybeans rise on vegetable oil rally; corn consolidates

Corn was flat ahead of the U.S. Department of Agriculture's planting estimates as traders continued to assess mixed crop conditions in South America.

Updated 25 Mar, 2021 12:06am

Commodities

Brazilian sugar exports seen falling by 3mn T in 2021/22

Agroconsult also expects smaller cane-based ethanol production in the new season, at 28.1 billion liters from 30 billion liters in the previous crop.

Updated 25 Mar, 2021 12:06am

Commodities

Raw sugar edges higher while arabica coffee also gains

May raw sugar rose by 0.02 cents, or 0.1%, to 15.45 cents per lb.
May white sugar rose by $4.40, or 1%, to $444.90 a tonne.
May arabica coffee rose by 0.15 cents, or 0.1%, to $1.2775 per lb after dipping to a two-week low of $1.2650.

Published 24 Mar, 2021 09:54pm

Commodities

Sinograin sees China 2020/21 cotton output at 5.95mn tones

The number is slightly higher than a 5.91 million tonnes forecast for the September-August crop year from China's agriculture ministry earlier this month and up from an estimated 5.8 million tonnes in 2019/20.
Top cotton consumer China has "expanded its import channels and strengthened cooperation with important cotton-producing countries such as Brazil and India to ensure stability of the domestic cotton supply chain," it added.

Published 24 Mar, 2021 09:14pm

Commodities

Bangladesh gets offers in tender to buy 50,000 tonnes rice

Offers are still being considered and no purchase had yet been reported, they said. Three trading houses submitted offers, they said.
Trading house PK Agrilink was said to have offered $429.93 a tonne CIF liner out and KRBL offered $434.34 a tonne CIF liner out. Liner out prices involve ship unloading costs.

Published 24 Mar, 2021 08:12pm

Commodities

Soybeans rise on vegetable oil rally; corn consolidates

Soybeans extend gains into fourth session.
Range-bound corn market eyes US planting estimates.
Wheat falls as Northern Hemisphere weather weighs.

Published 24 Mar, 2021 07:54pm

Commodities

Copper prices supported by strong Euro factory data

Benchmark copper on the London Metal Exchange (LME) was up 0.3% to $9,004 a tonne.
Copper, used in the power and construction industries, is also seen as a gauge for the health of global economy.

Published 24 Mar, 2021 07:52pm

Commodities

Wheat down 6-8 cents, corn down 1-3 cents, soy up 2-4 cents

Profit-taking expected after most-active soft red winter wheat contract jumped 1.2% on Tuesday, its biggest rally in two weeks.
CBOT May soft red winter wheat futures contract dropped below its five-day and 100-day moving averages during the overnight trading session.

Published 24 Mar, 2021 07:28pm

Commodities

South Korea's MFG buys another 66,000 tonnes feed wheat

The group made the purchase at an estimated $269.65 a tonne c&f plus a $1.25 a tonne surcharge for additional port unloading, they said.
It was for August/September shipment and seller was said to be trading house Cargill.

Published 24 Mar, 2021 07:15pm

Commodities

Jordan tenders again to buy 120,000 tonnes feed barley

A new tender had been anticipated after Jordan made no purchase in its previous tender for 120,000 tonnes of barley on Tuesday in which only two trading companies participated. Jordan had also made no purchase in another barley tender on March 16.
Shipment in the new tender is sought in a series of possible combinations in 60,000 tonne consignments.

Published 24 Mar, 2021 05:50pm

Commodities

Palm reverses earlier losses on lower supply, better demand expectations

The benchmark palm oil contract for June delivery on the Bursa Malaysia Derivatives Exchange closed at 3,930 ringgit ($951.80) per tonne, unchanged from the previous session, after falling to as low as 3,862 ringgit earlier.
Oil prices edged higher as investors looked for bargains following the previous day's plunge, making palm a more attractive option for biodiesel feedstock.

Published 24 Mar, 2021 05:19pm

Commodities

Gold rises on lower US yields, European lockdowns

Dollar index hits four-month high.
European stocks drop to two-week low.
Treasury yields slip to lowest since March 16.

Published 24 Mar, 2021 05:16pm

Commodities

China iron ore bounces back from selloff driven by pollution curbs

The benchmark 62% Fe iron ore's spot price rebounded to $161 a tonne on Tuesday from a seven-week low, SteelHome consultancy data showed.

Published 24 Mar, 2021 01:15pm

Commodities

Palm ends two-day gain on demand concerns, higher production outlook

Dalian's most-active soyoil contract gained 0.6%, while its palm oil contract rose 0.3%. Soyoil prices on the Chicago Board of Trade fell 0.6%.

Published 24 Mar, 2021 01:01pm

Commodities

Copper falls on Europe coronavirus lockdowns, firmer dollar

Escalating tensions between China and the West, as well as potential US tax hikes also hit sentiment and led to investors buying into safe-haven dollar.

Published 24 Mar, 2021 12:51pm

Commodities

LME aluminium may retreat to $2,089 before rising in Q2

The analysis is published once a week on Monday.

Published 24 Mar, 2021 12:30pm

Commodities

Palm oil may drop to 3,798 ringgit

The bounce ended around a resistance at 3,991 ringgit, after the formation of an exhaustion gap forming on Tuesday. This gap will be filled.

Published 24 Mar, 2021 11:50am

Commodities

NY cocoa may fall to $2,371

A break above $2,463 may lead to a gain to $2,520.

Published 24 Mar, 2021 11:48am

Commodities

CBOT wheat may retest resistance at $6.39

A break below $6.32-1/4 could cause a fall into the range of $6.24-1/4 to $6.27-3/4 while a break above $6.39 may lead to a gain to $6.44-3/4.

Published 24 Mar, 2021 11:46am

Commodities

CBOT corn may break support at $5.47-1/2

The reversal signals a continuation of the fall from the March 19 high of $5.59.

Published 24 Mar, 2021 11:45am

Commodities

CBOT soybeans may retest resistance at $14.31-1/2

This target is based on a double-bottom.

Published 24 Mar, 2021 11:44am

Commodities

US Cash Grains-Corn, soy bids flat around Midwest

Cash prices remained within ranges that have been hit in recent weeks so growers who wanted to sell at that point already have done so, dealers said.

Published 24 Mar, 2021 11:41am

Commodities

South Korea's FLC buys 65,000 feed wheat in private deal

The wheat was purchased at an estimated $271.99 a tonne c&f plus a $1.50 a tonne surcharge for additional port unloading. Seller was said to be trading house Cargill.

Published 24 Mar, 2021 11:30am

Commodities

US MIDDAY: Soyabeans climb

CHICAGO: Chicago soyabean futures climbed on Tuesday, led by rising soyabean oil as global edible oil supplies...