News Archives for Markets - 2021-05-28

<<>>

Commodities

Arabica coffee jumps 4.5pc on Brazil weather; raw sugar also up

July arabica coffee settled up 7 cents, or 4.5pc, at $1.6235 per lb?? after setting a 4-1/2-year high of $1.6315 earlier in the session.

Updated 29 May, 2021 12:46am

Commodities

Copper claws higher on hopes for wave of U.S. spending

Copper is often considered a bellwether of the global economy due to its wide industrial uses, including in infrastructure projects.

Published 28 May, 2021 10:31pm

Commodities

Gold flirts with $1,900 again after U.S. inflation ticks up

U.S. consumer prices accelerated in the year to April, with a measure of underlying inflation blowing past the Federal Reserve's 2pc target.

Published 28 May, 2021 10:21pm

Commodities

Russia's wheat export tax will fall sharply in early June

The wheat export tax will be set at $28.1 per tonne starting from June 2 to June 8, the ministry said. Export taxes for barley and maize are at $39.6 and $52.2 per tonne, respectively.

Published 28 May, 2021 08:57pm

Commodities

Copper edges lower on China demand concerns

Three-month copper on the London Metal Exchange slipped 0.2% to $10,201 a tonne.
Torlizzi expected copper prices to correct lower during the summer, when bullish investors would start buying again. He targeted $8,000 as an attractive level to re-enter the market.

Published 28 May, 2021 08:41pm

Commodities

Gold challenges $1,900 again after US inflation ticks up

US consumer inflation surges in April.
Gold gains 1% for the week so far.
Biden to seek $6 trillion spending for FY 2022 –report.

Published 28 May, 2021 08:35pm

Commodities

Arabica coffee hits 4-1/2 year high, sugar also up

July arabica coffee rose by 7.3 cents, or 4.7%, to $1.6265 per lb.
July raw sugar rose by 0.49 cent, or 2.9%, to 17.61 cents per lb after setting a two-week high of 17.69 cents.

Published 28 May, 2021 08:26pm

Commodities

Gold dips as dollar firms ahead of US inflation data

US weekly jobless claims drops to a fresh 14-month low.
Biden to seek $6 trillion in federal spending for FY 2022 –report.
Platinum dips, Palladium rises nearly 1%.

Published 28 May, 2021 06:33pm

Commodities

CBOT Trends-Wheat down 8-10 cents, corn down 4-8 cents, soy down 5-8 cents

CBOT July soft red winter wheat dropped below its 50-day moving average during the overnight trading session.
Corn futures down 2.1% during May, on track for their first monthly decline since August.

Published 28 May, 2021 06:31pm

Commodities

Palm oil rises over 2pc as Chicago soybean prices rally

The benchmark palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange was up at 4,015 ringgit ($971.68) a tonne when the market closed.
The contract gained 0.6% this week after plunging 11.43% in the previous week, its biggest weekly drop in one year.

Published 28 May, 2021 06:17pm

Commodities

Corn consolidates after surge on export demand

Corn mixed after 6% jump on Thursday.
Market weighs Chinese imports, higher expected global crop.
Wheat and soybeans ease after tracking corn rally.

Published 28 May, 2021 05:30pm

Commodities

Copper edges lower on China demand concerns

Strikes at BHP's Escondida and Spence mines in top producer Chile continue to threaten global supply.

Published 28 May, 2021 04:35pm

Commodities

Arabica coffee hits 4-1/2 year high, sugar also up

September London cocoa fell by 3 pounds, or 0.2%, to 1,628 pounds a tonne.

Published 28 May, 2021 04:31pm

Commodities

Palm oil to retest resistance at 4,010 ringgit

It will be confirmed when the contract breaks 4,010 ringgit.

Published 28 May, 2021 11:48am

Commodities

CBOT soybeans may retest resistance at $15.58

Based on this projection analysis, the contract may test a resistance at $15.73, a break above which could lead to a gain to $16.41-3/4.

Published 28 May, 2021 11:45am

Commodities

Russia to reduce export tax on soybeans from July 1

The new tax will be in place until September 2022, it said.

Published 28 May, 2021 11:19am

Commodities

IGC raises 2021/22 global grain outlook as prices climb

LONDON: The International Grains Council (IGC) on Thursday raised its forecast for global grain production in the...