News Archives for Markets - 2021-04-20

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Commodities

Uganda's coffee exports up 20pc yr/yr March

The east African country's is Africa's largest coffee exporter and earnings from the crop constitute the second largest source foreign exchange after gold.
Shipments in March rose to 572,839 60-kg bags compared to exports in the same period 12 months earlier, state-run Uganda Coffee Development Authority (UCDA) said in a report.

Published 20 Apr, 2021 08:14pm

Commodities

World Bank expects commodity prices to stay firm on economic growth

Energy prices are expected to average more than one-third higher this year than 2020, with oil averaging $56 a barrel, it said. Prices should rise to $60 a barrel in 2022, "broadly in line with their 2017-19 average."
"Emerging market and developing economies, both commodity exporters and importers, should strengthen their short-term resilience and prepare for the possibility of growth losing momentum."

Published 20 Apr, 2021 07:57pm

Commodities

Asian food trader Wilmar sees Brazil sugar output falling sharply

Wilmar expects Brazil's center-south cane crop to fall to 530 million tonnes in 2021/22, compared with 605 million tonnes in the previous season, with sugar production dropping to 31 million to 33 million tonnes from 38.5 million tonnes.
Raw sugar prices jumped more than 3% in New York this morning, underpinned by bad weather for crops in Europe and in Brazil.

Published 20 Apr, 2021 07:48pm

Commodities

Gold firms as US yields, dollar pause

Yields in narrow range as investors await economic signals.
Dollar steadies near weakest in about seven weeks.
Spot gold may slide into $1,744-$1,758/oz range – technicals.

Published 20 Apr, 2021 07:41pm

Commodities

Raw sugar climbs to 7-week high as crop outlooks dim

May raw sugar was up 0.55 cents, or 3.4%, at 16.84 cents per lb.
July New York cocoa fell by $13, or 0.5%, to $2,479 a tonne.

Published 20 Apr, 2021 05:57pm

Commodities

Gold eases from multi-week high as US yields rebound

Benchmark 10-year US Treasury yields rise above 1.6%.
Dollar drops to near seven-week low.
Spot gold may slide into $1,744-$1,758/oz range – technicals.

Published 20 Apr, 2021 05:29pm

Commodities

Copper hovers near 10-year high as equities take a breather

Benchmark copper on the London Metal Exchange (LME) was up 0.1% at $9,385.50 a tonne.
Global shares slipped further as lofty sovereign bond yields and rising global COVID-19 cases had investors questioning high equity valuations.

Published 20 Apr, 2021 05:24pm

Commodities

Palm oil climbs 2pc tracking crude, soyoil

Malaysia's April 1-20 exports rise between 10% and 13% m/m.
Market looks to soyoil, sunflower oil for direction – trader.

Published 20 Apr, 2021 05:14pm

Commodities

CBOT wheat may fall to $6.39-3/4

A decent correction is due. On the daily chart, two doji formed around a resistance at $6.54-3/4, on Monday and April 16.

Published 20 Apr, 2021 11:40am

Commodities

Palm oil may hover above 3,659 ringgit

The contract is presumed to be riding on a wave c, which is capable of travelling below 3,659 ringgit. This wave may end around 3,659 ringgit, if it is very weak.

Published 20 Apr, 2021 11:38am

Commodities

CBOT corn may rise into $6.00-1/4 to $6.07 range

This could be a bullish continuation pattern or a top pattern, depending on the subsequent break above the upper trendline or below the lower trendline.

Published 20 Apr, 2021 11:35am

Commodities

CBOT soybeans may test resistance at $14.72-1/4

Based on the depth of the correction from the March 8 high of $14.60 to the March 30 low of $13.64-1/4, the contract may rise to $15.57.

Published 20 Apr, 2021 11:34am

Commodities

Bullish investors push copper towards 10-year highs

LONDON: Copper prices rose on Monday as global stock markets hit record highs and the dollar fell, with many ...