News Archives for Markets - 2021-05-20

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Commodities

Gold gains as dollar, yields ease despite Fed's 'taper' talk

Spot gold rose 0.6pc to $1,880.81 per ounce by 12:34 p.m. EDT (1634 GMT). U.S. gold futures fell 0.1pc to $1,880.50 per ounce.

Published 20 May, 2021 11:20pm

Commodities

India rates snap losing streak on strong rupee, Thai prices dip

India rates still cheaper than other exporters.
Thai rates at 6-1/2 month low on weak overseas demand.
Vietnam prices unchanged at $490-$495 a tonne.
Bangladesh output seen rising 3.5% in year to April- USDA.

Published 20 May, 2021 09:37pm

Commodities

Brazil's 2021 coffee crop forecast cut to 56.5mn bags

Safras now expects the harvest of arabica beans to reach 34.7 million bags versus 35.2 million bags previously. Compared to last year's crop, the reduction on arabica production is 31%.
The consultancy adjusted slightly upwards its projection for robusta coffee production in Brazil by 100,000 bags to 21.8 million bags. The Brazilian robusta crop is seen growing 12% from last year.

Published 20 May, 2021 09:02pm

Commodities

Arabica hits four-year highs amid tightening supplies

July arabica coffee rose 1.2% to $1.5265 per lb.
July raw sugar rose 0.7% to 17.07 cents per lb.
July London cocoa fell 0.5% to 1,643 pounds per tonne.

Published 20 May, 2021 08:41pm

Commodities

Copper up on dollar, strike possibility in Chile

Benchmark copper on the London Metal Exchange traded up 1% at $10,104 a tonne in official rings. However, prices of the metal used widely in power and construction are down 6% since hitting a record $10,747.50 a tonne earlier in May.

Published 20 May, 2021 08:32pm

Commodities

Gold steadies as inflation fears, dollar dip counter 'taper' talk

Dollar drifts lower as Fed-fuelled bounce fades.
Platinum jumps nearly 1% to $1,201.30 per ounce.

Published 20 May, 2021 08:27pm

Commodities

Corn up 3-5 cents, wheat up 0-2 cents

Wheat up slightly overnight after the most-active contract dropped 2.69% on Wednesday to its lowest since April 21.
Exporters also sold 317,700 tonnes of wheat for the 2021/2022 marketing year.

Published 20 May, 2021 08:25pm

Commodities

South Korea's FBG buys 60,000 tonnes soymeal

It was purchased at an estimated $497.99 a tonne c&f including a surcharge for additional port unloading, traders said.
Arrival of the soymeal in South Korea was sought around Nov. 10. Seller was believed to be trading house Cofco.

Published 20 May, 2021 08:24pm

Commodities

Argentine port workers say to hold another 48-hour strike next week

Argentina's Port and Maritime Activities chamber told Reuters that the strike had halted port activity.
Port workers are "essential" to the economy, and thus entitled to be vaccinated, the unions have said.

Published 20 May, 2021 07:34pm

Commodities

Copper up on dollar, strike possibility in Chile

"There's been some buying on the back of a lower dollar and the possibility of a strike at Escondida (copper mine in Chile)," a copper trader said. "But the rally does seem to have to run out of steam."
An overhaul of Chile's market-orientated constitution is underway and the country is debating whether to increase royalties on miners.

Published 20 May, 2021 06:05pm

Commodities

Palm oil may seek support at 4,195 ringgit

A break below this level may open the way towards the range of 4,021 ringgit to 4,117 ringgit.

Published 20 May, 2021 12:59pm

Commodities

Palm oil extends losses on weaker rival edible oils; focus on export data

Palm fell for a second consecutive session after rallying 5% on Tuesday.

Published 20 May, 2021 11:17am

Commodities

Corn jumps 1% on strong Chinese demand; wheat recovers

Crop scouts on the second day of an annual three-day tour of Kansas projected an average yield for hard red winter wheat in the southwestern portion of the state at 56.7 bushels per acre, up from 47.6 bushels in 2019.

Published 20 May, 2021 10:57am

Commodities

Tokyo rubber futures slide

TOKYO: Japanese rubber futures slid on Wednesday as weaker global stocks and oil prices reduced risk appetite, and ...