Chicago soybean futures climbed on Friday ahead of a U.S. government crop data release that could shift the market, but prices were still set for a fourth straight weekly loss due to weak demand for U.S. exports and an improved supply outlook.
Prices of most nonferrous metals rose on Friday, boosted by a softer dollar that makes greenback-priced metals cheaper for holders of other currencies.
China's copper imports declined 6.3% in 2023, customs data showed on Friday, as domestic production increased and a firmer U.S. dollar raised import costs.
China's soybean imports in December missed expectations with a decline of 6.9% from a year ago, customs data showed on Friday, but total 2023 imports jumped for the first time in three years.
China, the world's largest soy buyer, imported 9.82 million tonnes of soybeans in December, up 24.0 % from 7.92 million tonnes in November, figures from the General Administration of Customs of China showed.
China, the world’s top meat buyer, imported 566,000 tonnes of meat in December, up 1.6 % on prior month, General Administration of Customs data showed. Meat imports for January to December were 7.38 million tonnes, down 0.3% on a year ago. (Full Story)
The market could be setting itself up for a surprise on Friday amid the U.S. Department of Agriculture’s data onslaught since analysts are expecting virtually no changes to last year’s U.S. corn and soybean crop estimates, which are typically the day’s most sought-after numbers.
Soybean planting in Argentina for the current season is nearly finished, the Buenos Aires grains exchange said on Thursday, citing improvements for the crop stemming from wet conditions compared to the previous drought-affected season.
Chicago Board of Trade soybean futures ended flat on Thursday and remained near their lowest level since December 2021 amid lackluster demand for U.S. exports and an improved South American supply outlook.
Tesla will suspend most car production at its factory near Berlin from Jan. 29 to Feb. 11, the company said on Thursday, citing a lack of components due to shifts in transport routes because of attacks on vessels in the Red Sea.
Brazil's 2023/2024 soybean crop will total 143.18 million metric tons, 7.5 million tons below a previous forecast of 150.7 million tons of production, according to a new report by Patria Agronegocios on Thursday.
Robusta coffee futures on ICE steadied on Thursday near their highest in at least 16 years as farmers in top producer Vietnam held back supply, and shipping disruptions continued in the Red Sea, a key export route for beans from Asia to Europe.
Argentina's annual inflation rate sped past 211% in December, official data showed on Thursday, hitting the highest level since the early 1990s as new libertarian President Javier Milei seeks to head off hyperinflation with tough austerity measures.
Panama's civil aviation authority said on Thursday it had temporarily prohibited operations of 21 of Copa Airlines' Boeing 737 MAX 9 aircraft after a mid-air blowout of a cabin panel on an Alaska Airlines flight last week.
Romania will remain Ukraine's largest alternative export route for grains and other goods in addition to Kyiv's own Black Sea corridor, a senior U.S. State Department official said on Thursday.
The Federal Aviation Administration said Wednesday it is launching a formal investigation into the Boeing 737 MAX 9 after a cabin panel blew off an Alaska Airlines flight while in mid-air last week, forcing an emergency landing.
More travelers are checking the model of an aircraft before booking flights after a midair cabin blowout forced a new Alaska Airlines-operated Boeing jet to make an emergency landing and grounded more than 170 planes, several travel operators said.
Reuters
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