News Archives for Markets - 2021-04-09

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Commodities

Gold slips on buoyant bond yields; set for weekly gain

Spot gold was 0.7pc lower at $1,744.07 per ounce by 1:44 p.m. EDT (1744 GMT), having hit its highest price since March 1 at $1,758.45 on Thursday.

Updated 10 Apr, 2021 12:11am

Commodities

EU wheat exports slacken as importers juggle with Russian supply

Brisk sales of EU wheat earlier in the July-June season, including large volumes of French wheat for China and German wheat for Algeria, had fuelled talk of tight stocks after a smaller harvest last summer.
Russia's decision to tax wheat exports from mid-February, to help cool local prices, was then expected to bring further demand for EU wheat, but prospects have instead dimmed.

Published 09 Apr, 2021 09:04pm

Commodities

Ukraine grain exports unaffected by border tensions, say traders

Kyiv has expressed concern over a build-up of Russian forces near the border between Ukraine and Russia as well as a rise in violence along the line separating Ukrainian troops and Russia-backed separatists in Ukraine's Donbass region.
Traders echoed that, with one foreign trader saying: "I don't see any nervousness yet and it didn't affect prices. But we are monitoring the situation".

Published 09 Apr, 2021 09:00pm

Commodities

London cocoa prices fall as May's discount widens

May London cocoa was down by 39 pounds, or 2.4%, to 1,602 pounds a tonne.
May raw sugar rose by 0.45 cents, or 3.0%, to 15.63 cents per lb.
May arabica coffee rose by 0.3 cents, or 0.2%, to $1.2815 per lb.

Published 09 Apr, 2021 08:58pm

Commodities

Sovecon raises forecast for Russia's 2021 wheat crop

Conditions in the south - Russia's largest wheat producing area - were improved by healthy precipitation, Sovecon said. Russia is one of the world's largest exporters of wheat.
Wheat in the southern part of Russia entered last winter in the worst shape in a decade. However, the 2021 weather was favourable for the region, and crop conditions improved dramatically in recent months.

Published 09 Apr, 2021 08:49pm

Commodities

Wheat up 5-8 cents, corn up 3-5 cents, soy steady-up 2 cents

Benchmark CBOT May soft red winter wheat rose above its 100-day moving average for the first time since March 24 during the overnight trading session. Technical resistance was noted at the contract's 30-day moving average.
CBOT May soft red winter wheat was last up 5-1/2 cents at $6.34-1/4 per bushel. K.C. May hard red winter wheat was last up 5-3/4 cents at $5.82-1/4.

Published 09 Apr, 2021 07:25pm

Commodities

Gold retreats over 1pc, but still on course for weekly gain

Investors eye US PPI data later in the day.
Fed's Powell sees inflation unlikely.
Palladium faces biggest weekly decline in six weeks.

Published 09 Apr, 2021 07:21pm

Commodities

Copper heads for weekly gain despite dip on China policy fears

Benchmark copper on the London Metal Exchange (LME) was down 0.3% at $8,984 a tonne by 1206 GMT but up about 2% for the week and on course for its first weekly rise in a month.
A barnstorming economic recovery in China and speculative buying pushed the metal used in power and construction to $9,617 in February, its highest in a decade, before prices stagnated.

Published 09 Apr, 2021 05:07pm

Commodities

French cereal conditions good ahead of cold spell

That was well above a score of 62% a year ago, when crops had suffered from torrential rain.
The winter barley rating increased to 85% good/excellent from 84% the previous week while the spring barley score also gained one point, to 92%.

Published 09 Apr, 2021 05:03pm

Commodities

Corn holds gains on tight supply ahead of USDA report

Corn near eight-year high.
Brisk demand and weather risks in focus.
USDA report awaited on US corn and soy stocks.
Wheat futures firm on corn spillover, spring weather threats.
Soybeans little changed.

Updated 09 Apr, 2021 05:03pm

Commodities

Argentine farmers, facing peso uncertainty, hoard soy despite high prices

Farmers in top global producers Brazil and the United States have eagerly sold crops to lock in good prices.

Published 09 Apr, 2021 11:44am

Commodities

Iron ore slips as China steel prices fall, but set for weekly gains

"The fundamentals are still positive for steel prices," Sinosteel Futures analysts said in a note, citing robust downstream domestic demand.

Published 09 Apr, 2021 11:19am

Commodities

CBOT soybeans neutral in $14.04-1/2 to $14.20-1/2 range

Only a rise above $14.33-1/2 could bring some hope to the continuation of the uptrend.

Published 09 Apr, 2021 10:56am

Commodities

Palm set for 3% weekly rise on prospects of strong demand, tight supply

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

Published 09 Apr, 2021 10:55am

Commodities

South Korea buys 46,229 tonnes of rice in tender

Some 5,000 tonnes of Chinese glutinous milled short grain rice was also bought from Posco at $1,198 a tonne c&f.

Published 09 Apr, 2021 10:50am

Commodities

China is paying a high price for its ban on Australian coal: Russell

Australia's share of imports came down to zero from 68.4% in January-February 2020, according to the data, while the United States boosted its share to 9.1% from under 2%, and Canada went to 12.1% from 6.1%.

Published 09 Apr, 2021 10:41am

Commodities

CBOT wheat futures rise on European cold snap

CBOT May soft red winter wheat settled 12-1/2 cents higher at $6.28-3/4 per bushel.

Published 09 Apr, 2021 09:46am

Commodities

Corn set for 2nd week of gains on strong demand, lower US planting

Wheat rose as a cold spell this week in France, the European Union's top wheat grower, brought record temperature lows for April, tempering recent optimism about harvest prospects.

Published 09 Apr, 2021 09:44am

Commodities

Corn falls from 1-week high, set to finish week up 3%

The US Energy Information Administration reported ethanol stocks at the lowest since November and as rain forecast for much of the US Midwest threatened planting.

Published 09 Apr, 2021 09:42am

Commodities

World food price index rises in March: FAO

ROME: World food prices rose for a 10th consecutive month in March, hitting their highest level since June 2014, led...