Nasdaq Commodities

Chicago corn fell on Wednesday as market participants adjusted positions before U.S. government grain forecasts and assessed crop risks after a hot, dry spell fuelled a rally earlier this week.

Malaysian palm oil giant Kuala Lumpur Kepong (KLK) Bhd has proposed to acquire IJM Corporation Bhd's entire stake in IJM Plantations Bhd for 1.53 billion ringgit ($371.72 million), IJM Corp said on Wednesday.

Although the U.S. corn and soybean crops are doing relatively well, the latest conditions were below expectations with downright shocking results in North and South Dakota, where crops have struggled with drought, heat and high winds.

Copper prices eased on Wednesday as data showed Chinese factories were facing the fastest rises in the cost of input materials in 12 years and a Chinese government agency said it would step up monitoring of commodities markets. [nL3N2NP2DL] [nB9N2ME01R]

Tyson Foods set a goal on Wednesday to reach net-zero greenhouse gas emissions globally by 2050, after missing a deadline to improve U.S. farming practices as part of an earlier effort to cut emissions.

Wizz Air is likely to fly more this summer than it did pre-pandemic, said its chief executive, as European COVID-19 travel restrictions loosen.

Speculation over the future of Italian fashion group Armani came to the fore on Wednesday after the Milanese brand said it had no interest in a tie-up with luxury sports car maker Ferrari, as proposed in a plan by investment banks.

Malaysian palm oil futures dropped nearly 5% to a more than five-week low on Wednesday, dragged down by expectations of rising palm oil supply and lower partial export data estimates.

Spanish fast fashion giant Inditex said sales in May and so far in June were twice as high as in the same period last year as customers splashed out on post-lockdown shopping sprees.

Vietnamese farmers should avoid expanding their black pepper crop to avoid the risk of oversupply, as prices in the world's largest producer of the household spice trade at a three-year high, an industry association said.

Ryanair on Wednesday won its challenge against state aid granted to virus-hit German charter airline Condor, marking its third victory in its fight against billions of euros in support granted to its rivals as Europe's second-top court annulled a regulatory decision.

The Indian Olympic Association (IOA) has dropped Chinese sportswear maker Li Ning as its official kit partner citing public sentiment in the country, saying its athletes will wear unbranded apparel at the Tokyo Games instead.

Farm office FranceAgriMer on Wednesday raised its monthly forecast for French soft wheat stocks at the end of the current 2020/21 season to 2.7 million tonnes from 2.6 million projected last month.

Farm office FranceAgriMer on Wednesday raised its monthly forecast of French soft wheat stocks at the end of the current 2020/21 season to 2.7 million tonnes from 2.6 million projected last month.

German chemical industry association VCI on Wednesday raised its chemical production outlook for the year, boosted by strong sales and demand from Asia in the first quarter, suggesting a faster than expected recovery for the industry.

AirAsia Group Bhd has grounded around 90% of its fleet of more than 200 planes across Asia due to resurgence of COVID-19 outbreaks, an executive at its Malaysia unit said on Wednesday.

Algeria’s state grains agency OAIC has purchased about 420,000 to 500,000 tonnes of optional-origin milling wheat in an international tender which closed on Tuesday, European traders said in assessments on Wednesday.

Iron ore futures rose on Wednesday, with the Dalian benchmark contract gaining up to 5.4% after a three-day slump, as worries over supply boosted prices of the steelmaking raw material.

The Ethiopian government has issued an international tender to buy some 400,000 tonnes of milling wheat, European traders said on Wednesday.

AirAsia Group Bhd has grounded around 90% of its fleet of more than 200 planes across Asia due to resurgence of COVID-19 outbreaks, an executive at its Malaysia unit said on Wednesday.