Turkish grain production is estimated to be 37.4 million tonnes in 2025, down 4.1% from the previous year, the Turkish Statistics Institute said on Friday, after Turkey’s major fruit crops were damaged by a severe frost earlier this year. It said Turkish 2025 wheat production was estimated to be...
Commodity News
Weather set to hit harvest in Russia’s largest grain region
High temperatures and a lack of rain over the coming months are expected to deplete the harvest in Russia’s largest grain region Rostov, the head of the local grain lobby group said after a farming emergency was declared. Rostov Governor Yuri Slyusar issued a decree on May 19 introducing the state...
https://www.hellenicshippingnews.com/weather-set-to-hit-harvest-in-russias-largest-grain-region/
Wheat dips again as short-covering rally loses steam
Chicago wheat futures fell on Friday, slipping for the second straight day, as a short-covering rally that lifted prices from last week’s five-year low ran out of steam, but remained on track for a weekly gain. Corn and soybean futures rose slightly. The most active wheat contract on the Chicago...
https://www.hellenicshippingnews.com/wheat-dips-again-as-short-covering-rally-loses-steam/
US aluminium smelters vie with Big Tech for scarce power
It’s forty-five years since anyone built a primary aluminium smelter in the United States. When Alumax fired up the Mt Holly plant in South Carolina in 1980, the country’s tally of smelters rose to 33 with combined annual capacity of almost five million metric tons of aluminium. Today that number...
https://www.hellenicshippingnews.com/us-aluminium-smelters-vie-with-big-tech-for-scarce-power/
Mercuria says copper deficits could push prices to records
Trading house Mercuria forecasts a copper concentrate deficit this year of 700,000 metric tons and a 300,000-ton deficit for refined metal that could push prices to record highs, its head of metals and mining research said on Wednesday. Nicholas Snowdon, a high-profile copper bull at Geneva-based...
https://www.hellenicshippingnews.com/mercuria-says-copper-deficits-could-push-prices-to-records/
London copper eases as tariff concerns weigh, soft dollar limits fall
Copper prices in London edged lower on Thursday as uncertainty over U.S. tariffs on the metal weighed on sentiment, although a weaker dollar limited the fall. Benchmark copper on the London Metal Exchange (LME) was down 0.3% at $9,508 a metric ton, as of 0707 GMT. The dollar weakened against a...
Wheat rally hits the buffers as US dollar stabilises
A rally in Chicago wheat futures hit the buffers on Thursday, with prices falling from Wednesday’s one-month high as the U.S. dollar halted its decline and a Russian consultancy raised its production forecast for the country. Corn and soybean futures also fell. The most active wheat contract on the...
https://www.hellenicshippingnews.com/wheat-rally-hits-the-buffers-as-us-dollar-stabilises/
Trump’s copper tariff threat still a lucrative bet for traders
Unusually large shipments of copper to the United States are unlikely to abate as long as the threat of tariffs hangs over the market and price premiums for the metal on U.S.-based COMEX make deals profitable for traders and producers, analysts said. Since February, when U.S. President Donald Trump...
https://www.hellenicshippingnews.com/trumps-copper-tariff-threat-still-a-lucrative-bet-for-traders/
China plans steel output cuts but production may rise as trade tensions ease
China’s plans to reduce its annual crude steel output for 2025 are progressing, with some mills receiving or being informed about the output cut targets. However, market participants noted May 14 that it remains uncertain whether steel mills will be able to strictly implement these mandatory output...
Wheat hits 1-month high on soft dollar, crop concerns, and short-covering
Chicago wheat futures climbed to a one-month high on Wednesday, supported by a soft dollar, concerns over northern hemisphere production and a bout of short-covering by speculators. Corn futures climbed to a one-week high, and soybeans rose on fears that heavy rains may have damaged crops in...