News Archives for Markets - 2021-05-05

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Commodities

Gold firms as U.S. yields ease, palladium hovers below record peak

Spot gold rose 0.3pc to $1,784.23 per ounce by 1:50 p.m. EDT (1750 GMT), after falling about 0.8pc on Tuesday. U.S. gold futures settled up 0.5pc at $1,784.30.

Published 05 May, 2021 11:51pm

Commodities

Copper hits 10-year high on hopes for demand

Benchmark three-month copper on the London Metal Exchange (LME) touched $10,040 a tonne, its highest since Feb. 2011 when the contract hit a record of $10,190 a tonne.
"It makes sense for market to take stock after hitting the key technical level of $10,000 a tonne," said Saxo Bank analyst Ole Hansen.

Published 05 May, 2021 09:07pm

Commodities

Sugar supply balance heading to surplus despite fall in Brazil, says Datagro

The market will still have a surplus even though production in Brazil is expected to drop to 36.3 million tonnes from 38.5 million tonnes in 2020/21 as the country faces lack of rains.
Nastari said during a presentation on Wednesday that he expected India to produce about 30 million tonnes in 2021/22 following the previous season's excellent crop which is seen at 31.2 million tonnes.

Published 05 May, 2021 09:04pm

Commodities

Gold inches up as US yields ease; palladium hovers below record peak

Dollar hovers close to a near two-week peak.
Palladium soared to a record high in the last session.

Published 05 May, 2021 08:19pm

Commodities

Ukraine's grain exports down 242pc so far in 2020/21 season

The exports included 15.13 million tonnes of wheat, 19.14 million tonnes of corn and 4.12 million tonnes of barley, the data showed.
Traders have used around 86.5% of the total wheat export quota of 17.5 million tonnes imposed for the whole 2020/21 July-June season.

Published 05 May, 2021 06:36pm

Commodities

Gold steadies on firm dollar; palladium hovers near record

Dollar hovers close to a near two-week peak.
Palladium soared to a record high in the last session.
Silver, platinum below more than two-month highs hit on Tuesday.

Published 05 May, 2021 05:52pm

Commodities

Copper hits 10-year high, eyes record levels on demand hopes

Benchmark three-month copper on the London Metal Exchange (LME) was up 0.4% at $10,007 a tonne after touching $10,040 in early trade.
"There's a lot of macro forces aligned that (are) together pushing (up) the whole commodities sector," said ING analyst Wenyu Yao.

Published 05 May, 2021 05:49pm

Commodities

Global copper smelting recovers in April as prices rally

The first half of April was still weak, but smelting activity increased throughout the rest of the month, satellite service SAVANT and broker Marex said in a joint statement on Wednesday.
"The platform now suggests we are seeing the effect of that price rally with a strong increase in smelter activity in the latter part of April."

Published 05 May, 2021 05:45pm

Commodities

Palm closes little changed, concerns over coronavirus weigh

The benchmark palm oil contract on the Bursa Malaysia Derivatives Exchange last traded down 2 ringgit, or 0.05%, to 4,040 ringgit ($981.77) a tonne.
Top importer India on Wednesday reported 382,315 new coronavirus cases, health ministry data showed.

Updated 05 May, 2021 05:34pm

Commodities

CBOT wheat rallies on spillover support from surging corn market

K.C. July hard red winter wheat jumped 10-3/4 cents to $6.99-1/4, while MGEX July spring wheat ended up 9-1/2 cents at $7.68-1/4 per bushel.

Published 05 May, 2021 12:33pm

Commodities

CBOT corn ends sharply higher on Brazil dryness, supply fears

So far, high prices have done little to curb US demand for corn to feed livestock or produce ethanol, analysts said.

Published 05 May, 2021 12:27pm

Commodities

Palm oil poised to break resistance at 4,098 ringgit

Even though the contract failed four times to overcome this barrier, the subsequent corrections became shallower.

Published 05 May, 2021 12:23pm

Commodities

CBOT corn may rise towards $7.19-1/4 to $7.26-1/4 zone

Indeed, the wave iii does not look as strong as expected. It is supposed to be fierce and full of momentum.

Published 05 May, 2021 12:19pm

Commodities

CBOT soybeans may retest resistance at $15.61-1/4

The contract is expected to retest a resistance at $15.73. A break could open the way towards $16.41-3/4.

Published 05 May, 2021 12:17pm

Commodities

Ivory Coast rubber exports slide

ABIDJAN: Ivory Coast exported 242,621 tonnes of natural rubber from January to March, down about 30% from the same...