Nasdaq Commodities

Prices of copper were steady on Wednesday, supported by a weak dollar and concern over tight global raw material supplies.

High food prices in recent years have prompted farmers worldwide to plant more cereals and oilseeds, but consumers are set to face tighter supplies well into 2024, amid adverse El Nino weather, export restrictions and higher biofuel mandates.

Chicago wheat futures gained more ground on Wednesday, to trade near a more than two-week high reached in the previous session after Ukraine's attack on a large Russian naval ship renewed concerns over Black Sea grain supplies.

Shipments of Russian Sokol crude oil to Indian Oil Corp have been delayed by payment problems, forcing India's biggest refiner to draw from its inventories and buy more oil from the Middle East, two sources familiar with the matter said.

Raw sugar futures on ICE fell on Tuesday to the lowest price since early March in light trading, while arabica coffee closed higher.

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Brazilian state-run oil company Petrobras will reduce diesel prices at its refineries by an average of 8% starting Wednesday, it said in a statement on Tuesday.

Chicago Board of Trade wheat climbed more than 3% on Tuesday, the biggest daily gain in more than five weeks, as the market reacted to potential shipping route issues in the Black Sea after Ukraine struck a large Russian warship in Crimea.

Grain growers in Brazil's main agricultural state began reaping their soybeans from the 2023/24 cycle, a season marked by hot and dry weather that accelerated the crop cycle and hurt yields, farmers said.

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Mexico re-launched former state airline Mexicana de Aviacion on Tuesday, setting out plans to increase operations with 10 additional aircraft next year, the government said.

Chicago Board of Trade wheat climbed more than 3% on Tuesday, as the market reacted to potential shipping route issues in the Black Sea after Ukraine struck a large Russian warship in Crimea.

ICE cotton futures edged up on Tuesday, supported by a weaker dollar and upbeat sentiment in the stock market, as the holiday-trimmed week drew thin trading volumes across the board.

The U.S. Agriculture Department issued the following weekly data on grains inspected and/or weighed for export by region and country of destination:

FXEmpire.com - Natural Gas Price Forecast Video for 27-12-2023

Nigerian mother-of-three Grace Godwin was preparing food on Christmas Eve when her husband burst into the kitchen and ordered her and the children to run and take cover in the bush after gunmen were spotted in a nearby village.

U.S. retail sales rose 3.1% between Nov. 1 and Dec. 24, as shoppers looked for last-minute Christmas deals amid big promotions, a Mastercard report showed on Tuesday.

Cocoa farmers in Ivory Coast on Tuesday said they were optimistic about the October-to-March main crop despite two weeks without rain in most growing regions and an uptick in dry Harmattan winds in central regions.

Brazilian state-run oil company Petrobras will reduce diesel prices at its refineries by an average 8% starting Wednesday, it said in a statement on Tuesday.