Chicago wheat futures snapped a four-session winning streak on Friday, with the market dropping from a two-week high, as investors squared positions ahead of a key U.S. report on global supply and demand. Corn and soybeans edged lower, although concerns about hot and dry weather conditions in the U.S. Midwest limited losses. “For the 1-5 day forecast, there are light scattered rains for Nebraska, eastern Iowa and Minnesota, with no rain in the forecast for South Dakota, southwestern Minnesota and western Iowa. There is also no rain for Illinois,” according ...

Dalian and Singapore iron ore futures advanced on Thursday, as restocking and speculative buying underpinned spot prices in top steel producer China, but doubts remain on the sustainability of a recovery in demand for the steelmaking ingredient. The most-traded iron ore, for delivery in January next year, on China’s Dalian Commodity Exchange (DCIOcv1) ended daytime trade 2.3% higher at 741 yuan ($109.98) a tonne. On the Singapore Exchange, the front-month September contract (SZZFU2) was up 3% at $113.15 a tonne, as of 0700 GMT. Benchmark 62%-grade iron ore’s spot price ...

Steel prices slipped down both on a week-on-week and month-on-month (m-o-m) basis with an improvement in demand remaining elusive. Investors are thus watchful about any development pertaining to the removal of steel export duty that can help push up sales and in turn lead to a reduction in inventory. Indian steel mills cut the price of hot rolled coil (HRC) for August 22 to ₹58,500 per tonne, which is a reduction of ₹3,500 per tonne m-o-m, and cold rolled coil (CRC) to ₹66,000 per tonne, a reduction of ₹2,500 per ...

Chicago wheat and soybean futures rose higher on Thursday as a weaker U.S. dollar lent support to dollar-priced commodities and traders squared up their positions ahead of a key government report. Meanwhile, corn futures firmed, supported by concerns about hot and dry weather stressing the U.S. Midwest crop through its final stages of development. The most-active corn contract on the Chicago Board of Trade (CBOT) Cv1 was up 0.9% at $6.23-1/2 a bushel by 1551 GMT, while CBOT wheat Wv1 added 1.4% to $8.10-3/4 a bushel. Soybeans Sv1 rose 1.28% ...

Malaysia’s palm oil inventories at end-July likely jumped to the highest in eight months due to improving production and soaring imports, a Reuters survey showed on Thursday. Stockpiles in the world’s second-largest producer expanded 8.3% from June to 1.79 million tonnes, according to the median estimate of 11 traders and analysts polled by Reuters. Production also rose to its highest since November, up 2% to 1.58 million tonnes. Exports gained 2.2% to 1.22 million tonnes while imports surged 35% to 80,000 tonnes. The better exports could be due to slower ...

Amid long-standing global push to embrace renewables as a primary source of power generation, India does not want to be left far behind, but at the same time lowering dependence on coal is emerging to be a constant struggle, given how affordable and abundant it is. With a slew of lucrative measures like 100% FDI under the automatic route for renewable energy and setting up of project development cell for facilitating investments, the government aims to attract domestic and international investors, which has indeed shown results with some private players ...

Travel brochures in Sheboygan, Wisconsin, tout the town’s beaches on Lake Michigan as the Malibu of the Midwest. But pages of glossy photos leave out a feature of the landscape: a coal-fired power plant on the shore that will remain open until mid 2025 instead of closing this year as planned. Alliant Energy (NASDAQ:LNT) Corp’s Edgewater coal-fired plant in Sheboygan is one of at least six across the country that this summer have announced delays or potential delays to their planned closures, citing concerns about energy shortages. A key culprit: ...

Copper prices rose on Thursday to their highest in nearly six weeks, helped by easing demand worries after U.S. inflation data came in softer than expected. Three-month copper on the London Metal Exchange CMCU3 rose 0.1% to $8,091 a tonne, as of 0443 GMT, while the most-traded August copper contract on the Shanghai Futures Exchange SCFcv1 rose 1.5% to 62,250 yuan ($9,237.55) a tonne. Both contracts hit their highest since July 1 earlier in the session. U.S. consumer prices did not rise in July compared with economists’ expectation of a ...

Global commodities trader Cargill Inc reported that its fiscal year 2022 revenue jumped 23% from a year earlier to $165 billion. The strong result was the latest for a global agricultural commodities trader after rivals Archer-Daniels-Midland Co ADM.N and Bunge Ltd BG.N reported solid earnings last month amid high farm products prices and robust global demand. Both rival companies also projected strong earnings through the remainder of 2022. Privately-held Cargill halted public reporting of most of its quarterly and annual financial data in 2020 but reports its full-year sales in ...

Two more grain-carrying ships left Ukraine’s Chornomorsk port on Tuesday as part of a deal brokered by the United Nations and Turkey to unblock the country’s ports. The agreement, which has created a protected corridor, was designed to alleviate global food shortages, with Ukraine’s customers including some of the world’s poorest countries, such as Eritrea in Africa. So far, however, the bulk of exports has been corn, which is generally used for animal feed or to produce biofuel ethanol. Here are some of the issues: WHAT HAS BEEN EXPORTED? The ...

In the near term, we expect OPEC’s limited spare capacity, a pickup in global travel, and China’s economic recovery to support oil prices. We also expect the war in Ukraine and weather-related factors to keep grain prices firm. We see around 15% upside in total returns for broad commodity indexes in the next six months. Commodity markets have been volatile as investors juggled recession fears against tight supply. • After soaring 42% as the war in Ukraine aggravated a tight post-pandemic global supply, the Bloomberg Commodity Index snapped a six-month ...

Chicago corn and wheat futures retreated on Thursday after hitting more than one-week highs in the previous session on concerns over hot and dry weather conditions in key exporting countries. Soybeans lost ground after closing almost unchanged on Wednesday. “Weather forecasters’ outlook for the United States next week is little changed, meaning yield downgrades in some regions,” said Tobin Gorey, director of agricultural strategy at the Commonwealth Bank of Australia. The most-active corn contract on the Chicago Board of Trade (CBOT) Cv1 was down 0.4% at $6.15-3/4 a bushel, as ...

Dalian and Singapore iron ore futures advanced on Thursday, as restocking demand underpinned spot prices in top steel producer China, although doubts about the sustainability of a recovery in demand capped gains. The most-traded iron ore, for delivery in January next year, on China’s Dalian Commodity Exchange DCIOcv1 ended morning trade 1.8% higher at 737.50 yuan ($109.44) a tonne, up for a second straight session. On the Singapore Exchange, the front-month September contract SZZFU2 rose 2.2% to $112.30 a tonne. Benchmark 62%-grade iron ore’s spot price for the China-bound material ...

This year’s French soft wheat crop is showing mixed protein content in key northern production regions, although readings are generally satisfactory, farm office FranceAgriMer said on Wednesday. Protein content, an important quality criteria for flour milling, was averaging around 11% in the northern half of France, while readings in the south were high to very high, FranceAgriMer said in a harvest report published with crop institutes Arvalis and Terres Inovia. Quality results in France, the European Union’s biggest wheat exporter, are being closely watched in the market as importers seeks ...

Sugar production in Brazil’s main center-south (CS) cane belt increased 8.4% in the second half of July compared to the same period a year earlier to 3.3 million tonnes as mills increase efforts to the production of the sweetener. According to a report from industry group Unica released on Wednesday, mills allocated 47.7% of all harvested cane to sugar production, more than the 46.2% seen at this time last year, as the sweetener is giving them better financial returns than ethanol. Source: Reuters (Reporting by Roberto Samora and Marcelo Teixeira; ...