News Archives for Markets - 2021-05-12

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Commodities

Brazil sugar output 25pc down as cane agricultural yields fall 10pc

Drier-than-normal weather in recent months in Brazil hurt sugar cane development and led plants to have a slow start to harvest in the current season. Cane crush late in April was 22% smaller than a year earlier to 29.6 million tonnes, Unica said.

Published 12 May, 2021 07:34pm

Commodities

Copper clings to gains near record high on demand hopes

Copper prices have doubled in the last year, fuelled by a rebound in demand from top consumer China and other economies after a COVID-19 induced slump.
Funds have raised their bullish bets on LME and Comex copper, according to estimates by broker Marex and the US Commodity Futures Trading Commission.

Published 12 May, 2021 06:21pm

Commodities

Soy up 20-25 cents, corn steady-up 4 cents, wheat down 2-4 cents

Wheat futures easing as traders stake out positions ahead of USDA report.
Corn futures traded higher for much of the overnight trading session, but gave up most of their gains after the forecast for Brazil's corn crop topped market expectations.

Published 12 May, 2021 06:19pm

Commodities

India's April palm oil imports surge 82pc y/y, trade body says

The country imported 701,795 tonnes of palm oil last month, while soyoil imports fell by 21% to 144,020 tonnes, the Solvent Extractors' Association of India (SEA) said in a statement.
Sunflower oil imports dropped 18% to 184,097 tonnes in April after prices more than doubled in a year, it added.

Published 12 May, 2021 05:45pm

Commodities

Soybeans surge near 9-year high on tightening supplies

Soybeans up ahead of US report.
Corn near highest since 2013; wheat flat.

Published 12 May, 2021 05:43pm

Commodities

Gold slips on firm yields, dollar ahead of US inflation data

US 10-year Treasury yields hit over 1-week high.
US consumer price data due at 1230 GMT.
Silver below multi-month highs hit early this week.

Published 12 May, 2021 05:42pm

Commodities

Ukraine sunoil exports at 3.914mn tonnes so far 2020/21

Ukraine, the world largest sunoil exporter, is likely to export 1.466 million tonnes of the commodity in the remaining months of the current season, the association said in a report.
The economy ministry said in April that Ukraine was likely to decrease its sunoil exports sharply in the remaining months of the 2020/21 September-August season compared to the previous season.

Published 12 May, 2021 05:26pm

Commodities

Raw sugar hits 2-1/2-month high as ethanol prices soar

July raw sugar rose 0.2% to 18.15 cents per lb.
July arabica coffee fell 0.4% to $1.1950 per lb, after climbing to a four-year peak of $1.5540 last week.

Published 12 May, 2021 05:18pm

Commodities

Palm oil may break resistance at 4,393 ringgit

It is expected to test the resistance zone of 4,486-4,576 ringgit, formed by the 2008 high and a 161.8% projection level.

Published 12 May, 2021 12:29pm

Commodities

NY cocoa may drop to $2,414

Cocoa has broken a support at $2,474. It may test the next support at $2,414.

Published 12 May, 2021 12:26pm

Commodities

CBOT wheat may revisit May 7 high of $7.67-1/2

These patterns will be confirmed when wheat breaks $7.63-1/4.

Published 12 May, 2021 12:25pm

Commodities

CBOT corn may rise into $7.49-1/2 to $7.56-3/4 range

Such a combination suggests a strong bullish sentiment, which simply ruins the least chance of a deep correction. Wave pattern suggests a further extension of the uptrend.

Published 12 May, 2021 12:24pm

Commodities

CBOT soybeans may extend gains into $16.54-1/2 to $16.76-1/2 range

However, its strength may be undermined by the strong bullish momentum.

Published 12 May, 2021 12:22pm

Commodities

US MIDDAY: Soyabean futures top $16 since 2012

PARIS/SINGAPORE: Chicago Board of Trade soyabean futures jumped 1.8% on Tuesday, surging above $16 a bushel for the...