Last week, speculators were net sellers of Chicago corn and soybeans for the first time in nearly two months. But for now, they appear less willing to give up their bullishness in corn than they do in soybeans. In the week ended February 11, money managers cut their net long position in CBOT corn...
Commodity News
BHP sees steel and copper demand recovering after profit slumps to six-year low
BHP BHP sees signs of economic recovery in China and central bank rate cuts reviving demand for steel and copper but flagged risks to global growth from potential trade tensions, as it logged its lowest first-half profit in six years. After scrapping a $49 billion bid to acquire Anglo American AAL,...
Corn holds near 16-month high on strong US export demand
Chicago corn futures rose on Wednesday and were within a whisker of the previous day’s 16-month high, with strong U.S. export demand, falling inventories and fund buying supporting prices. Wheat futures also gained and were near their highest level since October 2024 amid concerns that cold weather...
https://www.hellenicshippingnews.com/corn-holds-near-16-month-high-on-strong-us-export-demand/
LME copper eases on Trump’s tariff threats on autos, semiconductors
London copper eased on Wednesday as U.S. President Donald Trump’s threat to impose 25% tariffs on automobiles and semiconductor chips raised concerns of about metal demand. Three-month copper on the London Metal Exchange (LME) eased 0.2% to $9,456 a metric ton by 0726 GMT. Trump said on Tuesday he...
Wheat eases from 4-month highs, soybean flat
Chicago wheat futures edged lower on Tuesday but prices held close to Friday’s four-month peak as cold temperatures posed a threat to crops in the Black Sea and U.S. Plains regions. Soybean futures remained largely unchanged, while corn prices saw a modest uptick. The most-active wheat contract on...
https://www.hellenicshippingnews.com/wheat-eases-from-4-month-highs-soybean-flat/
Copper miner Antofagasta reports 11% rise in 2024 core profit
Chilean copper miner Antofagasta ANTO posted an 11% jump in annual core profit on Tuesday, helped by higher prices for the metal. Earnings before interest, tax, depreciation and amortisation (EBITDA) for the full year rose to $3.43 billion from $3.09 billion a year earlier. The copper miner’s...
https://www.hellenicshippingnews.com/copper-miner-antofagasta-reports-11-rise-in-2024-core-profit/
Trump’s plan to end Russia-Ukraine war: Goldman says focus on these commodities
U.S. President Donald Trump is expected to introduce a plan aimed at brokering peace between Russia and Ukraine, with the potential to impact global commodity markets. As per analysts at Goldman Sachs, the most immediate and pronounced effects of a potential peace agreement would be seen in energy...
Copper little changed ahead of contract expiry; US-Russia talks in focus
Copper traded in a narrow price range on Tuesday as traders rolled forward positions ahead of a contract expiry this week and market attention shifted towards U.S. efforts to end Russia’s nearly three-year war in Ukraine. Three-month copper on the London Metal Exchange (LME) traded flat at $9,398 a...
Wheat eases from 4-month highs on US dollar strength
Chicago wheat futures fell on Tuesday as the U.S. dollar strengthened, but prices remained near Friday’s four-month high as cold weather threatened crops in the Black Sea and U.S. Plains regions. Corn and soy futures also slipped. The most-active wheat contract on the Chicago Board of Trade (CBOT)...
https://www.hellenicshippingnews.com/wheat-eases-from-4-month-highs-on-us-dollar-strength/
US farmers could permanently lose key markets amid Trump’s tariffs diplomacy: trade
The US agriculture and food sector, especially soybeans, corn and proteins, could immutably lose its key markets to emerging economies, such as Brazil, amid the resumption of tariff diplomacy under the US President Donald Trump, market sources told S&P Global Commodity Insights. The White House...