News Archives for Markets - 2021-04-01

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Commodities

High prices lift Argentina's March grains exports revenue to 18-year high

The sector brought in $6.72 billion in the first quarter, CIARA-CEC said in a statement. March revenue marked a 53.22% increase over February, it said.
Some 7.9% of this season's corn has been brought in so far, while recent rain storms have held back soy harvesting to about 1% of planted area, the exchange said in a report on Wednesday.

Published 01 Apr, 2021 09:13pm

Commodities

Asia Gold-Price dip lures some buyers, activity still muted in India

China premiums little changed at $7-$10/oz.
India premiums ease to $4 versus $5 last week.

Published 01 Apr, 2021 08:26pm

Commodities

Corn up 11-15 cents, soybeans mixed, wheat down 1-5 cents

Futures retreat after rising on Wednesday on spillover support from surging corn and soybean prices.
The USDA, in a report on Wednesday, estimated larger-than-expected US wheat plantings.

Published 01 Apr, 2021 08:21pm

Commodities

Raw sugar recovers from 3-month low; coffee, cocoa gain

May raw sugar rose 0.7% to 14.88 cents per lb.
"We forecast the global market in an 8.5 million tonne surplus in both 2020/21 and in 2021/22. In 2021/22, production will recover in the EU, Thailand and Russia among others," said Fitch Solutions.

Published 01 Apr, 2021 08:11pm

Commodities

Coffee maker Lavazza sees full sales rebound in 2021, eyes M&A

Last year the family-owned company recorded sales worth 2.085 billion euros as its retail business only partly compensated for a drop in out-of-home coffee consumption.
Earnings before interest, taxes, depreciation, and amortisation (EBITDA) came in at 253 million euros in 2020, down 13% on 2019.

Published 01 Apr, 2021 06:21pm

Commodities

Pakistan decision to import Indian cotton and sugar put on hold

In an effort to cool local demand and prices, Pakistan's Economic Coordination Committee on Wednesday gave the go-ahead for the imports.

Published 01 Apr, 2021 05:25pm

Commodities

Ukraine 2020/21 grain ending stocks to jump 17pc on high corn reserves

Corn stocks are likely to rise 51% to 2.4 million tonnes, with high reserves putting pressure on domestic grain prices in the medium term, APK-Inform said in a report.
The grain stocks will also include 1.5 million tonnes of wheat and 1 million tonnes of barley.

Published 01 Apr, 2021 05:23pm

Commodities

Morocco grain traders see strong harvest, lower soft wheat imports

The central bank has already raised its economic growth projection from earlier forecasts based on a predicted cereals harvest of 9.5 million tonnes, well up from 3.2 million tonnes last year.
"Cereals output is expected to exceed 10 million tonnes this season, which means less imports," he said.

Published 01 Apr, 2021 05:21pm

Commodities

France's wheat exports boosted by Morocco, China buys barley

Soft wheat exports to destinations outside the EU-27 and Britain totalled 937,700 tonnes in March, the ninth month of the 2020/21 season, an initial estimate based on Refinitiv loading data showed.
Morocco was the leading destination, accounting for 348,400 tonnes, nearly three times the volume shipped there in February.

Published 01 Apr, 2021 05:20pm

Commodities

Copper touches lowest in nearly a month on China demand worries

There are concerns about China deleveraging; that seems to be uppermost in a lot of people's minds. How much more tightening is there to come? And the Chinese economy seems to be slowing anyway.
Copper inventories are rising on the LME and it seems that demand for the time being has come off the boil, which is a bit concerning because we're going into the seasonally strong part of the year.

Published 01 Apr, 2021 05:11pm

Commodities

Gold rises as dollar rally pauses, yields ease

Dollar eases off from 5-month high.
Biden unveils $2 trillion-plus job plan.
Climb above $1,720/oz positive for bullion – analyst.

Published 01 Apr, 2021 05:07pm

Commodities

Corn jumps to highest since 2013 on lower US planting outlook

The United States is the world's biggest corn exporter and the No. 2 soybean supplier.

Published 01 Apr, 2021 11:35am

Commodities

Japan aluminium stocks fall 2.5% m/m in February

Marubeni collects data from the ports of Yokohama, Nagoya and Osaka.

Published 01 Apr, 2021 11:32am

Commodities

CBOT soybeans may stabilize in support zone of $14.20-1/2 to $14.31-1/2

A projection analysis reveals a possible ending point of the correction in the support zone of $14.17-3/4 to $14.33-1/2.

Published 01 Apr, 2021 11:11am

Commodities

Palm up over 3% on firmer US soyoil prices

Meanwhile, Dalian's most-active soyoil contract rose 2.9 % and its palm oil contract climbed 2.7%.

Published 01 Apr, 2021 11:07am

Commodities

Palm oil may test resistance at 3,687 ringgit

This bullish candlestick followed another one on March 29. Together, they are considered as a trend reversal signal.

Published 01 Apr, 2021 10:48am

Commodities

VLSFO crack pulls back from 3-month low, Fujairah inventories rebound

SINGAPORE: Asia’s 0.5% very low-sulphur fuel oil (VLSFO) crack against Dubai crude rebounded from a near...