News Archives for Markets - 2021-04-29

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Commodities

Copper rally to lose steam in H2 as China curbs stimulus

Copper seen averaging $8,800/T in third quarter.
Copper market seen flipping to deficit in 2021.
Aluminium price seen slipping in H2.

Published 29 Apr, 2021 08:28pm

Commodities

Wheat steady-up 2 cents, corn mixed, soy up 9-10 cents

The US Agriculture Department reported totaled wheat export sales for the week ended April 22 at 461,300 tonnes. Analysts' forecasts ranged from 200,000 to 750,000 tonnes.
Corn export sales totaled 1.075 million tonnes in the week ended April 22, USDA said. That was in line with analysts' forecasts that ranged from 500,000 tonnes to 1.6 million tonnes.

Published 29 Apr, 2021 08:26pm

Commodities

Jordan tenders to buy 120,000 tonnes feed barley

A new tender had been expected after Jordan had made no purchase in its previous tender for 120,000 tonnes of barley on Wednesday in which only one trading house participated.
Shipment is sought in a series of possible combinations in 60,000 tonne consignments, traders said.

Published 29 Apr, 2021 06:35pm

Commodities

EU cuts 2021/22 soft wheat crop forecast to 124.8mn tonnes

That would still be above 2020/21 production of common wheat, or soft wheat, of 117.2 million tonnes, the Commission's monthly supply and demand data showed.
The Commission also lowered its projection of soft wheat stocks at the end of 2021/22, to 11.4 million tonnes from 12.9 million last month, reflecting the reduced harvest forecast.

Published 29 Apr, 2021 06:24pm

Commodities

Gold retreats as US yields rise; eyes on US GDP data

US Q1 GDP data due at 1230 GMT.
Fed's Powell quashes tapering talk.
Palladium scales all-time peak of $2,963.07/oz.

Published 29 Apr, 2021 05:58pm

Commodities

Copper stabs close to $10,000/T level on Fed stimulus pledge

Three-month copper on the London Metal Exchange gained 1.1% to $9,983 a tonne in official trading, having risen to as high as $9,999.50 a tonne earlier in the session.
The last time copper rose above $10,000 was in February 2011, when it touched an all-time record of $10,190.

Published 29 Apr, 2021 05:22pm

Commodities

Romanian wheat crop to recover sharply, seen offering for Egypt tenders

Romania, has been among the largest grain sellers in the European Union, and along with France and Russia is an active exporter of cereals to Middle East, with Egypt the main buyer.
That could help potentially create a surplus of about 5.5 to 7.0 million tonnes for exports, as Romania's domestic consumption traditionally ranges about 2.5 to 3 million tonnes.

Published 29 Apr, 2021 05:17pm

Commodities

Arabica coffee hits four-year high on tight supplies, strong real

July arabica coffee was little changed at $1.4590 per lb.
The Brazilian real hit a 2-1/2 month high versus the dollar on Wednesday, deterring farmers and exporters from selling by lowering returns in local currency terms.

Published 29 Apr, 2021 05:10pm

Commodities

CBOT corn may resume uptrend

Only after a top pattern forms could the trend reversal be confirmed.

Published 29 Apr, 2021 12:21pm

Commodities

Copper eyes $10,000/T level as US dollar softens

"(Copper is) supported by a weaker dollar and dovish comments from the Federal Reserve," said commodities broker Anna Stablum of Marex Spectron in a note.

Published 29 Apr, 2021 12:18pm

Commodities

Glencore keeps full-year production guidance unchanged

Its copper production stood at 301,200 tonnes in the first quarter, but zinc fell 13,000 tonnes year-on-year to 282,600 tonnes and nickel was down 11% at 25,200 tonnes.

Published 29 Apr, 2021 12:14pm

Commodities

CBOT soybeans could retest support at $15.47-1/2

The uptrend is expected to resume upon the completion of the correction.

Published 29 Apr, 2021 11:25am

Commodities

Vietnam Jan-Apr coffee exports likely down 34.2% y/y, rice down 10.8%

Crude oil export revenue in the period is expected to dive 16.7% from a year earlier to $487 million.

Published 29 Apr, 2021 11:19am

Commodities

REAP announces Rs10m reward for hybrid basmati rice breeder

KARACHI: Rice Exporters Association of Pakistan (REAP) has announced Rs 10 million reward for breeder, who develops...