Untimely rainfall and hailstorms have battered winter-sown crops, including wheat, rapeseed, and chickpeas in India’s main producing areas, delaying harvesting, industry and government officials told Reuters. Adverse weather could limit growth in wheat production and complicate the government’s...
https://www.hellenicshippingnews.com/indias-wheat-rapeseed-ravaged-by-rain-just-before-harvesting/
Beneath the world’s largest open-pit copper mine in Chile lies a tunnel complex filled with dust so dense that machines frequently break down and workers can’t operate without spacesuit-like helmets. Conveyer belts often stall and have caused at least one fire. Construction mistakes have led to...
https://www.hellenicshippingnews.com/inside-a-copper-output-plunge-at-no-1-global-producer-codelco/
Chicago soybean futures extended gains on Monday after last week’s three-year lows but plentiful supply from South America and weak U.S. exports limited gains, with speculators still betting on lower prices. Corn and wheat futures also rose, but with markets well supplied, both contracts were near...
Global corn stockpiles are set to reach five-year highs later in 2024, undergoing their largest annual expansion in seven years. But the United States’ contribution to that growth is much larger than normal after a record harvest last summer. That would usually spur a bit more U.S. demand than is...
Fed policy remains key for gold Federal Reserve policy will remain key for the outlook of gold prices in the months ahead. US dollar strength and central bank tightening weighed on the gold market for most of last year. Swaps markets suggest investors don’t see much chance of a reduction in...
https://www.hellenicshippingnews.com/gold-awaits-clarity-on-fed-easing-path/
An agribusiness consultancy on Friday raised the forecast for Brazil’s 2023/2024 soybean crop while another cut its projection, indicating how different methodologies and unpredictable weather events have made it difficult to estimate the country’s output this season. StoneX raised its soy forecast...
The world’s biggest listed miner BHP Group BHP.AX said on Thursday it was disbanding some global teams and transferring those roles covering functions including planning, environment and heritage protection to its mining asset-level management. BHP employs more than 80,000 people in staff and...
Russia is not interested in renewing the Black Sea grain deal and has its own grain export capabilities, the TASS news agency cited Russian Agriculture Minister Dmitry Patrushev as saying on Thursday. The deal, which ended in the middle of last year, had allowed Ukraine to ship grain out of its...
https://www.hellenicshippingnews.com/russia-says-is-not-interested-in-black-sea-grain-deal-tass/
Non-commercial market participants reduced their net short position in Euronext’s milling wheat futures and options in the week to Feb. 23, data published by Euronext showed on Wednesday. Non-commercial participants, which include investment funds and financial institutions, reduced their net short...
The International Sugar Organization (ISO) on Wednesday raised its forecast for the size of an anticipated global sugar deficit in the current 2023/24 season. The inter-governmental body’s quarterly report projected a global deficit of 689,000 metric tons for 2023/24 (October/September) compared...
https://www.hellenicshippingnews.com/iso-raises-forecast-for-2023-24-global-sugar-deficit/