The planting of the 2023/24 soybean crop reached 85% of the estimated area for Brazil as of Thursday last week, compared with 74% a week earlier and 91% in the same period last year, according to a survey by AgRural on Monday. The work has progressed in the world’s largest producer and exporter of...
The European Commission on Thursday cut its monthly forecast of European Union stocks of common wheat, or soft wheat, mainly due to an increased projection of wheat use in livestock feed. In its grain supply and demand outlook, the Commission pegged soft wheat stocks at the end of the 2023/24...
https://www.hellenicshippingnews.com/eu-trims-wheat-stocks-outlook-on-feed-use-barley-crop-cut/
“The monster” pushed Greylis Pinto out, and she says life hasn’t really improved since. “The monster” is the name local residents give to El Cerrejon, Latin America’s largest open-pit coal mine in northern Colombia. Sprawling across an area of 69,000 hectares (about 170,500 acres), or 100,000...
https://www.hellenicshippingnews.com/how-colombias-dirty-coal-fuels-germanys-energy-transition/
J.P. Morgan said on Thursday that steady demand growth will lift the prices of key commodities in 2024 from current levels but advised that investments should be tactically timed. In its 2024 Commodities Outlook, the Wall Street banking giant only stayed structurally bullish on gold and silver,...
Asian off-season rice production is poised to take a hit as dry planting conditions, shrinking reservoirs and forecasts for continued El Nino weather are set to reduce early 2024 yields, further tightening supplies and spurring food inflation. India, the world’s biggest rice exporter and No.2...
https://www.hellenicshippingnews.com/dry-soil-to-curb-asias-early-2024-rice-output-pressure-supply/
Industrial metal prices should fall next year as lower global economic growth drags on demand, notably in China, the world’s largest consumer of raw materials, Fitch Ratings said on Friday. Fitch said in a report that London’s 2024 benchmark copper price could slip 2% to $8,600 per metric ton,...
Chicago soybean futures ticked down on Monday as traders monitored the prospects of showers in drought-stricken Brazil, the biggest global supplier, while corn and wheat lost steam after a brief rally last week. The most-active soybean contract Sv1 on the Chicago Board of Trade (CBOT) was down...
Oil back above $90 in second half of 2024 The oil market is expected to be largely balanced over the first half of 2024 if Saudi Arabia extends its additional voluntary supply cut through until the end of the year’s first quarter. Doing so should ensure that Brent remains above US$80/bbl over the...
https://www.hellenicshippingnews.com/three-calls-for-commodity-markets/
A global aluminium producer has offered Japanese buyers a premium of $95 per metric ton for January-March primary metal shipments, down 2% from the current quarter, three sources directly involved in quarterly pricing talks said. Japan is Asia’s biggest importer of the metal and the premiums for...
https://www.hellenicshippingnews.com/global-aluminium-producer-seeks-q1-premium-of-95-t-sources-2/
Malaysian palm oil futures posted a second weekly loss onFriday, underpinned by poor demand and weakness in Dalian vegetable oils. The benchmark palm oil contract FCPOc3 for February delivery on the Bursa Malaysia Derivatives Exchange slid 24 ringgit, or 0.62%, to 3,871 ringgit ($828.73) at...
https://www.hellenicshippingnews.com/palm-oil-books-second-weekly-loss-as-weak-demand-weighs/