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Chicago wheat futures rose on Thursday, recouping some of their losses from the previous session, as the U.S. dollar weakened and an exchange in Argentina said less of the crop would be planted there than previously thought. Still, prices remained close to their lowest levels since 2020 due to ample supply from top shipper Russia and lacklustre demand for U.S. exports. Corn and soybean futures fell slightly, with both markets well-supplied despite rising concerns over Argentina’s corn harvest, which has been hit by a stunt disease spread by leafhopper insects. ...

The World Shipping Council (WSC) is calling on the EU to design policy frameworks that facilitate the essential role of shipping in a globally connected economy and to forge the path to net-zero shipping by 2050 in partnership with industry. Outlining its recommendations for the 2024-2029 legislative term, the WSC urges the EU to: Work to secure effective global greenhouse gas (GHG) reduction regulations and implement the Green Deal to ensure that production of renewable marine fuels grows to match demand, to meet the target of decarbonising shipping by 2050. ...

Malaysian palm oil futures firmed in range-bound trade on Thursday but remained near their lowest level in more than sixweeks, squeezed by expectations of slowing demand after the end of the Eid al-Fitr festive season. The benchmark palm oil contract FCPOc3 for July delivery on the Bursa Malaysia Derivatives Exchange gained 9 ringgit, or 0.22%, to 4,021 ringgit ($841.92) a metric ton by the midday break, hovering near 3,986 ringgit – its lowest closing level since March 5. Exports from the world’s second largest producer in March had jumped 28.61% ...

Australia’s sugar production should rise to 4.2 million metric tons in the 2024/25 marketing year from an estimated 4.1 million tons in 2023/24, the U.S. Department of Agriculture (USDA) said. “The increase in production is partly driven by an anticipated small increase in sugar cane harvest area for marketing year 2024/25, along with a modest increase in yield,” the USDA said in a report dated April 16. Raw sugar exports should rise to 3.45 million tons from 3.35 million tons in 2023/24, according to the report. Australia is a relatively ...

Jordan’s state grains buyer has issued an international tender to purchase up to 120,000 metric tons of animal feed barley, European traders said on Thursday. The deadline for submission of price offers in the tender is April 24. Source: Reuters (Reporting by Michael Hogan)

London copper hit its highest in 22 months on Thursday, supported by a softer dollar as traders braced for a longer-than-expected monetary tightening in the United States. Three-month copper on the London Metal Exchange CMCU3 rose 1.6% to $9,732 per metric ton by 0748 GMT, having hit $9,739 a ton earlier in the session, the highest since June 2022. The most-traded June copper contract on the Shanghai Futures Exchange SCFcv1 closed up 2.8% at 78,780 yuan ($10,883.02) aton. The dollar index =USD was down, inching away from a five-and-a-half-month high ...

Ukraine’s 2023 grain crop totalled around 60 million metric tons, including 22.2 million tons of wheat and 30.5 million tons of corn and 5.7 million tons of barley, the agriculture ministry said on Wednesday. Ukraine is actively sowing grain and oilseed crops for the 2024 harvest, but the ministry has not yet reported on last year’s results. Ukraine traditionally publishes final harvest data in January. The ministry told Reuters on Tuesday that Ukraine’s grain harvest is likely to fall to about 52 million metric tons this year mostly due to ...

Japan’s Ministry of Agriculture, Forestry and Fisheries (MAFF) bought a total of 94,612 metric tons of food-quality wheat from the United States and Canada in a regular tender that closed on Thursday. Japan, the world’s sixth-biggest wheat importer, keeps a tight grip on imports of its second-most important staple after rice and buys the majority of the grain for milling via tenders typically issued three times a month. Source: Reuters (Reporting by Fumika Inoue; Editing by Varun H K)

Heidmar Inc. (“Heidmar”), announces the expansion of its service offering to include technical ship management with the addition of Landbridge Ship Management, Hong Kong Ltd (LBSM) to the Heidmar group. Huwell Group, an owner of five modern VLCCs, decided that Heidmar, a company focused on marine services, is best situated to further develop and grow LBSM. This strategic initiative for both parties is the outcome of a strong relationship and collaboration developed over the last three years. LBSM has built an enviable reputation operating a modern VLCC fleet with very ...

The lowest price offered in an international tender from Indonesian state purchasing agency Bulog tobuy about 300,000 metric tons of rice was estimated at $588.00 per ton cost and freight (c&f) for rice expected to be sourced from Vietnam, European traders said on Thursday. No purchase has yet been reported and price negotiations continue, traders said. A decision is expected in thecoming days. The tender seeks arrival in Indonesia by May 31. Reports reflect assessments from traders and further estimates of prices and volumes are possible later. The tender continues ...

A group of South Korean flour mills on Thursday bought an estimated 50,000 metric tons of milling wheat to be sourced from the United States, European traders said. The purchase involved several different wheat types and was all bought on a free on board basis for shipment between July 15 and Aug. 15. The seller was believed to be trading house Columbia Grain International, the traders said. Reports reflect assessments from traders and further estimates are still possible later. The purchase involved soft white wheat bought in the low $220s ...

In the wake of rising geo-political tension in the Middle Eastern countries after the outbreak of the Israel-Iran war, the business of some Indian companies may be affected if the war gets prolonged. Adani Ports and Special Economic Zone Ld is one of those Indian companies. According to stock market experts, the flagship Adani group company has a high stake involved at Haifa Port in north Israel. They said that the Iran-Israel war has put instability in the Middle East region and it may affect Adani Ports’s business at the ...

Kongsberg Maritime has been selected to supply controllable pitch propellers and shaft lines to ship builder Damen Naval for a series of four Anti-Submarine Warfare (ASW) frigates. The new ASW frigates are being built for the Netherlands and Belgium and will replace the current Karel Doorman-class multi-purpose frigates. They will be deployed for a wide variety of tasks, with anti-submarine warfare as their main purpose. The ships will have hybrid diesel-electric propulsion and will be designed to operate as quietly as possible. The first ship is expected to be delivered ...

In line with the commitments made by CMA CGM to the European Commission and the Polynesian Competition Authority in the context of the acquisition of Bolloré Logistics, the Group has initiated the sale of 100% of Bolloré Logistics’ activities in Guadeloupe, Martinique, Saint-Martin, French Guiana, and Polynesia. In this context, the CMA CGM Group has received a put option from the Balguerie Group with whom it has signed an exclusivity agreement for the sale of these activities. The confirmation of this put option will occur following the information and consultation ...