News Archives for Markets - 2021-03-25

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Commodities

Sugar and coffee prices fall in broad-based selloff

May raw sugar fell by 0.55 cent, or 3.5pc to 15.08 cents per lb at 1508 GMT after equalling a three-month low of 15.05 cents set on Tuesday.

Published 25 Mar, 2021 11:55pm

Commodities

Gold gains in tug-of-war between lower yields and firm dollar

U.S. benchmark Treasury yields continued their dip, translating into lower opportunity cost of holding bullion, after scaling one-year highs last week.

Updated 26 Mar, 2021 12:05am

Commodities

Copper falls to near 3-week low on China demand worries, firm dollar

Three-month copper on the London Metal Exchange had shed 2.3pc to $8,775 a tonne by 1700 GMT, having hit $8,702 a tonne, its lowest since March 5.

Updated 26 Mar, 2021 12:04am

Commodities

Wheat nears 3-month low on supply prospects; soy, corn also decline

CBOT May corn was down 6-1/2 cents at $5.46-3/4 a bushel and May soybeans were down 17-1/4 cents at $14.15-1/2 a bushel.

Updated 26 Mar, 2021 12:04am

Commodities

China's net gold imports via Hong Kong steady in February

Net gold imports via Hong Kong to China, the world's top consumer of the metal, fell 0.2% to 4.192 tonnes in February, compared with 4.2 tonnes in January, the data showed.
"Import is still restricted. There were no quotas issued by People's Bank of China (PBOC) in February," Bernard Sin, Regional Director, Greater China at MKS Switzerland, said.

Published 25 Mar, 2021 09:00pm

Commodities

Copper falls to nearly 3-week low on China demand worries, firm dollar

Three-month copper on the London Metal Exchange shed 2.2% to $8,780.50 a tonne in official trading, having hit $8,702 a tonne, its lowest since March 5.
Chinese demand worries and a stronger dollar - these are the two main macro factors that's causing a general loss of risk appetite across the whole commodity space.

Published 25 Mar, 2021 08:50pm

Commodities

Vietnam rates scale more than 9-year high on strong demand

Thai rates widen to $500-$518/tonne as drought worries loom.
Bangladesh approves purchase of 100,000 tonnes of rice.
More ships docking at Ho Chi Minh City – trader.
Indian rates stable at $398 to $403 per tonne.

Published 25 Mar, 2021 08:42pm

Commodities

Raw sugar slides, eyes 3 month low; coffee also falls

May raw sugar was down 3% to 15.17 cents per lb.
May arabica coffee fell 0.3% to $1.2615 per lb.
May New York cocoa rose 1.3% to $2,466 a tonne.

Published 25 Mar, 2021 08:27pm

Commodities

Brazil's new sugar season off to a slow start

According to a report by industry group Unica released on Thursday, sugar and ethanol plants processed 1.67 million tonnes of cane in the first two weeks of the month versus 2.95 million tonnes a year earlier.
Unica said 21 mills were crushing cane in the period compared to 31 at this time last year. It projects that 54 plants would be operational by the end of the month versus 87 last year.

Published 25 Mar, 2021 08:05pm

Commodities

IGC sees record global grain production in 2021/22 season

In its first full assessment for the 2021/22 season, the inter-governmental body projected a balanced market, with stocks at the end of the period seen at 609 million tonnes, unchanged from a year earlier.
An expected drop in wheat production in Russia - to 76.9 million tonnes versus 85.4 million - limited the increase in global output.

Published 25 Mar, 2021 07:49pm

Commodities

Argentine farmers have sold 12.45mn tonnes of 2020/21 soybeans

The soybean harvest for the current campaign is expected to be around 44 million tonnes, according to the Buenos Aires grains exchange, hit by late-season drought.
Sales of wheat have hit 11.33 million tonnes, almost a third less versus last season's pace, the ministry said. The government estimates the 2020/21 wheat harvest at 17.6 million tonnes.

Published 25 Mar, 2021 07:38pm

Commodities

Russia preparing export taxes on sunflower seeds, sunoil

Russia has imposed several export taxes for grain, sunseeds among other measures since December in its battle to tame rising food inflation amid the pandemic.
As to chicken meat and eggs, the agriculture ministry regulates (the situation) in a soft negotiation mode and through voluntary commitments with poultry producers

Published 25 Mar, 2021 06:57pm

Commodities

EU forecasts higher wheat crop, exports in 2021/22

In grain supply and demand data, the Commission also projected that EU exports of common wheat, or soft wheat, would reach 30.0 million tonnes next season compared with 27.0 million expected in the current 2020/21 season that ends on June 30.

Published 25 Mar, 2021 06:31pm

Commodities

Palm oil falls more than 1pc on cheaper crude oil, soyoil

Breather for palm oil after weeks of volatile moves -analyst
Market sluggish after analysts say bullish factors priced in

Published 25 Mar, 2021 05:32pm

Commodities

Gold subdued as dollar strength offsets Europe lockdown worries

Dollar hits fresh four-month high.
Silver drops to over two-week low.
European stocks slip in early trading.

Published 25 Mar, 2021 05:27pm

Commodities

Copper falls to near 3-week low on China demand worries, firm dollar

Three-month copper on the London Metal Exchange had shed 2.2% to $8,781 a tonne.
Technical support was at a recent low of $8,570 and at $8,550, the 50-day moving average, he added.

Published 25 Mar, 2021 05:17pm

Commodities

Chile consumer prices expected to creep up 0.5pc in March

Chile's benchmark interest rate is expected to stay at 0.50% - its lowest in a decade - in the next policy meeting in March, the poll showed, but will rise to 0.75% in 12 months.

Published 25 Mar, 2021 05:15pm

Commodities

CBOT wheat may seek support in $5.60-1/2 to $5.89-1/2 zone in Q2

A rise above $6.27-1/2 may be extended to $6.52-1/2.

Published 25 Mar, 2021 02:15pm

Commodities

Asia's iron ore futures rise for third day on demand pickup, supply worries

However, Lee said any price upside for iron ore appears limited for now.

Published 25 Mar, 2021 01:07pm

Commodities

Copper falls over 1% on firmer dollar amid Europe virus scare

Three-month copper on the London Metal Exchange was down 1.3% at $8,859 a tonne by 0450 GMT, having hit $8,850 a tonne earlier in the session, its lowest since March 19.

Published 25 Mar, 2021 12:15pm

Commodities

Palm eases for second day on cheaper crude oil, soyoil

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

Published 25 Mar, 2021 12:09pm

Commodities

Palm oil still targets 3,798 ringgit

Palm oil may retest a support at 3,868 ringgit, a break below which could cause a fall to 3,798 ringgit.

Published 25 Mar, 2021 11:40am

Commodities

NY coffee poised to fall to $1.2210

Resistance is at $1.2910, a break above which could lead to a gain into $1.3125-$1.3345 range.

Published 25 Mar, 2021 11:36am

Commodities

CBOT wheat may fall into $6.11-1/2 to $6.16-3/4 range

Resistance is at $6.24-1/4, a break above which could lead to a gain into $6.27-3/4 to $6.32-1/4.

Published 25 Mar, 2021 11:35am

Commodities

CBOT corn biased to retest support at $5.47-1/2

Only a rise above $5.56 could confirm the extension of the uptrend towards $5.60-1/4 to $5.65-1/4 range.

Published 25 Mar, 2021 11:34am

Commodities

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

Following its failure to break $14.31-1/2 on Tuesday, the contract may succeed this time.

Published 25 Mar, 2021 11:32am

Commodities

Ethiopia issues tender to buy 170,000 tonnes rice

The deadline for submission of price offers in the tender is April 20.

Published 25 Mar, 2021 11:21am

Commodities

Uganda coffee

KAMPALA: Uganda’s coffee exports surged 16% in February from the same month last year, helped by yields from newly...