Grain silos in Ukrainian territory controlled by the government are about half full in the run-up to this year’s harvest, the head of the Ukraine Grain Association said on Wednesday. There were some 30 million tonnes of grain stored in Ukrainian-held territory out of capacity of around 55 million...
U.S. soybean futures rallied on Wednesday on expectations that robust demand from both the domestic and export sectors will keep supplies tight until harvest in the fall, traders said. Corn futures rose on support from strength in the cash market while wheat eased after firming during the overnight...
The bear attack on copper seems to be over for now. Fund managers have reduced their short positions on both the CME and London Metal Exchange (LME) copper contracts over the last two weeks as China gradually emerges from lockdowns. Beijing’s zero-COVID policy hurt both manufacturing activity and...
https://www.hellenicshippingnews.com/funds-cut-bear-bets-on-copper-as-china-recovery-hopes-grow/
Harvest of second-corn crop, also known as safrinha crop, in Brazil is gathering pace, putting pressure on corn prices in the spot and futures market. Harvesting in the major corn-producing states of Brazil, which accounts for 92% of the cultivated area, was at 3% as of June 4, Brazil’s national...
https://www.hellenicshippingnews.com/harvest-touches-3-likely-to-pick-up-speed/
The European Commission raised slightly its monthly forecast of usable production of common wheat, or soft wheat, in the European Union in 2022/23, to 130.4 million tonnes from 130.1 million previously, data posted on its website showed. The latest projection was also slightly above production of...
https://www.hellenicshippingnews.com/eu-nudges-up-soft-wheat-crop-forecast-cuts-barley-and-maize/
The China economic stimulus machine is already firing up the prices of key commodities such as iron ore, steel and copper even if there remain some doubts about how rapid, and how effective, its boosting measures will be. Benchmark spot 62% iron ore for delivery to north China MTIOQIN62=ARG, as...
https://www.hellenicshippingnews.com/china-stimulus-ramps-up-optimism-in-industrial-metals/
Chicago corn gained more ground on Wednesday, with strong demand and higher prices in the physical market lifting futures for a third straight session to a one-week high. Wheat fell for a second session, but losses were limited by diminishing prospects of an increase in exports from war-torn...
https://www.hellenicshippingnews.com/corn-up-for-3rd-session-on-strong-demand-wheat-slips/
The Indian steel sector’s growth is likely to be stable despite the challenges posed by Russia-Ukraine war or the high inflation impacting input costs, said N Chandrasekaran, chairman, Tata Steel. “While there exist risks of high input costs, the growth of the Indian steel industry is likely to...
Copper prices slipped on Tuesday, weighed down by a stronger dollar, although losses were limited by demand revival hopes on top consumer China relaxing its COVID-19 curbs and declining inventories. Three-month copper on the London Metal Exchange CMCU3 was down 1% at $9,654 a tonne, as of 0704 GMT....
U.S. hedge fund Elliott Associates is suing the London Metal Exchange (LME) for $456 million for cancelling nickel trades after chaotic trading in March that forced the exchange to suspend its nickel market, the LME said on Monday. The legal action piles more pressure on the exchange, which is...