News Archives for Markets - 2021-05-07

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Commodities

Copper scales record high on industry and speculative buying

Aluminium touches three-year peak.
Zinc surpasses $3,000 for 1st time since June 2018.
Lead hits highest since Oct. 2019.

Published 07 May, 2021 08:37pm

Commodities

Gold accelerates to best week in 6 months on dip in US jobs growth

US jobs growth slows sharply in April amid labor shortages.
Silver eyes best week in over three months.
Gold could make a run towards $1,857 level- analyst.
Physical demand wanes in India due to pandemic.

Published 07 May, 2021 08:28pm

Commodities

Soybeans, wheat up 10-15 cents, corn up 4-8 cents

Weak dollar supportive to wheat as well as forecasts for dry weather in northern US Plains.
Corn seen firming for seventh straight session, as no relief is forecast for dry Brazil growing areas. Strong export demand also supportive.

Published 07 May, 2021 06:51pm

Commodities

Ukraine spring grain sowing 58pc complete

Farms have sown 2.4 million hectares of corn, 1.3 million hectares of barley, 226,400 hectares of peas, 172,200 hectares of wheat and 185,400 hectares of oats.
Generally favourable weather could help farmers to increase the grain crop to 75 million tonnes this year from 65 million in 2020.

Published 07 May, 2021 06:29pm

Commodities

Arabica coffee slips off 4-year high, raw sugar also falls

July arabica coffee fell 1.5% to $1.5210 per lb.
July raw sugar fell 0.5% to 17.47 cents per lb, having hit a 1-1/2 week high of 17.89 cents earlier on Thursday.

Published 07 May, 2021 06:00pm

Commodities

Gold eyes best week in 6 months on lower dollar, Treasury yields

US April jobs data due at 8:30 am EST.
Silver eyes best week in three months.
Spot gold may test resistance at $1,830/oz.

Published 07 May, 2021 05:34pm

Commodities

Asia Gold-Demand plunges in pandemic-battered India

Indian jewellers have also stopped making purchases- dealer.
India discounts widen to $3/oz versus $2/oz last week.
China, Japan return from holidays, but demand muted.
Hong Kong premiums at $0.8-$1.8/oz, Singapore at $1.5-$2.0.

Published 07 May, 2021 05:29pm

Commodities

Copper hits record high on industry and speculative buying

Benchmark copper on the London Metal Exchange (LME) broke above the previous record high of $10,190 set in 2011 and had gained 2.3% to $10,325.
The most-traded June copper contract on the Shanghai Futures Exchange climbed as much as 2.7% to 74,950 yuan ($11,603) a tonne, its highest since May 2006 and only 1.6% below its record peak of 76,160 yuan.

Published 07 May, 2021 05:24pm

Commodities

Palm jumps 5pc, eyes biggest weekly gain in two decades on supply concerns

The futures contract was set for a 14.4% rise for the week, its biggest since 2001.
Palm oil is being supported by a rally in the global agricultural market led by Chicago corn and soybean futures, which are trading at multi-year highs.

Updated 07 May, 2021 05:21pm

Commodities

Corn, soybeans hit new eight-year highs on supply risks

Corn sets another highest since March 2013.
Parched southern Brazil fuels corn supply fears.
Soybeans at 8-1/2 year top on veg oil surge, US acreage fight.
Wheat near 8-year peak; corn rally seen shifting feed demand.

Updated 07 May, 2021 05:19pm

Commodities

ASIA RICE-Prices drop to mid-November lows as India reels from COVID-19 surge

"A couple of ships have arrived from Africa this month to pick up rice," a Bangkok-based trader said.

Published 07 May, 2021 11:56am

Commodities

Palm set for biggest weekly gain in two decades on supply worries

Dalian's most-active soyoil contract rose 1.8%, while its palm oil contract gained 2.4%. Soyoil prices on the Chicago Board of Trade were up 1%.

Published 07 May, 2021 11:44am

Commodities

Palm oil targets 4,331-4,393 ringgit range

On the daily chart, the uptrend has just been confirmed. It looks steady and may develop faster over the next few weeks.

Published 07 May, 2021 11:38am

Commodities

CBOT wheat may revisit April 27 high of $7.69-1/2

Based on the depth of the correction from the April 27 high of $7.69-1/2, this wave may extend to $8.27-1/2.

Published 07 May, 2021 11:35am

Commodities

CBOT corn may rise into $7.38 to $7.49-1/2 zone

On the daily chart, the uptrend from $5.18-1/4 consists of many smaller waves. A five-wave cycle from $5.52-3/4 is still developing.

Published 07 May, 2021 11:32am

Commodities

CBOT soybeans may rise to $16.18-3/4

A correction from the current level will be regarded as a pullback towards the former resistance at $15.74-3/4, now a support.

Published 07 May, 2021 11:31am

Commodities

South Korea’s NOFI tenders to buy up to 276,000 tonnes of corn

HAMBURG: South Korean animal feedmaker Nonghyup Feed Inc. (NOFI) has issued an international tender to purchase up ...