News Archives for Markets - 2021-05-25

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Commodities

Indian farmers expect to harvest record wheat, rice crops this year

Rice output in the world's biggest exporter and the second largest producer is estimated at a record 121.46 million tonnes compared to a forecast of 120.32 million tonnes in February.
The farm ministry pegged peanut production to be at 10.12 million tonnes in 2020/21, lower than its earlier estimate of 10.15 million tonnes.

Published 25 May, 2021 09:50pm

Commodities

Cotton ticks up on weaker dollar, West Texas rain forecasts cap upside

Cotton contracts for July rose 0.26 cent, or 0.3% to 83.08 cents per lb.
The report also showed cotton was 61% planted in Georgia, up from 37% in the prior week.

Published 25 May, 2021 09:46pm

Commodities

China crackdown on prices subdues industrial metals

Benchmark copper on the London Metal Exchange traded up 0.1% at $9,961 a tonne in official rings.
Prices of the metal used widely in the power and construction industries have fallen 7% since hitting a record high at $10,747.50 a tonne earlier this month.

Published 25 May, 2021 08:16pm

Commodities

Gold near multi-month highs on weaker dollar

Dollar slides to 4-1/2 month low.
Potentially higher Chinese demand may support gold- analyst.
Markets await US GDP, jobs data.

Published 25 May, 2021 07:57pm

Commodities

Wheat steady-up 5 cents, corn down 2-5 cents, soy up 6-10 cents

Wheat seen steady to firm, with MGEX spring wheat contracts rising on support from concerns about dry conditions in the northern US Plains.
The USDA said corn planting was 90% complete, 10 percentage points ahead of the five-year average.

Published 25 May, 2021 07:52pm

Commodities

Ivory Coast 2020/21 cocoa arrivals seen at 1.963mn tonnes by May 23

About 23,000 tonnes of beans were delivered to Abidjan port and 24,000 tonnes to San Pedro between May 17 and May 23 for a total of 47,000 tonnes, up from 29,000 tonnes during the same week last season.

Published 25 May, 2021 06:27pm

Commodities

Brazil coffee output seen falling almost 23pc in off year for Arabica

Conab forecasts production of 33.36 million bags of Arabica this season and 15.44 million of Robusta.

Published 25 May, 2021 05:27pm

Commodities

Corn firms after 2-session decline as strong China demand supports

Chicago corn recovers on Chinese demand, US crop conditions.
US corn planting 90% complete, soybean planting 75% - USDA.

Published 25 May, 2021 05:12pm

Commodities

Palm oil snaps four-day losing streak, jumps 3.47pc

The benchmark palm oil contract for August delivery climbed 3.47% to close at 4,025 ringgit ($972.22).
CBOT soyoil prices rose 1.43% on Tuesday, while prices for Dalian's soyoil and palm oil contract advanced 1.42% and 1.43%, respectively.

Updated 25 May, 2021 05:09pm

Commodities

Favourable Australian weather spells second bumper wheat harvest

"The current moisture levels and the outlook for the coming 2021/22 Australian grain winter crop are looking good in most areas so far and may well continue to improve," Ole Houe, a director at brokerage IKON Commodities in Sydney, said.

Published 25 May, 2021 01:10pm

Commodities

Copper rises on weaker dollar, economic recovery hopes

"Although some of the rises in commodity prices has been driven by speculators, there is also a genuine increase in demand as the global economy reopens," said Catril.

Published 25 May, 2021 12:42pm

Commodities

Palm oil set for first daily gain after four-day losing streak

The contract slumped 11% last week, the sharpest in a year, as a resurgence in COVID-19 cases and lockdown measures in India hit demand.

Published 25 May, 2021 12:39pm

Commodities

CBOT soybeans may test resistance at $15.47

Regardless of final ending point of this wave, the uptrend will remain intact.

Published 25 May, 2021 12:29pm

Commodities

CBOT corn may approach $6.71 again

A break below $6.47-1/2 may cause a fall to $6.33. On the daily chart, the contract looks sideways around a support at $6.52-1/4.

Published 25 May, 2021 12:12pm

Commodities

Palm oil may test resistance at 4,010 ringgit

A break below 3,888 ringgit may not necessarily cause a fall to 3,738 ringgit.

Published 25 May, 2021 11:25am

Commodities

Copper prices up

LONDON: Copper prices rose on Monday as a softer dollar spurred modest purchases, but gains were capped by concerns...