Nasdaq Commodities

The U.S. Fed's resolve to look through robust economic readings will be tested again on Friday with the release of the personal consumption expenditures (PCE) index.

Market participants this week became apprehensive regarding China’s massive corn purchasing program out of the United States as cancellation rumors floated around. So far, no additional cancellations have been officially confirmed and the Asian country apparently continues to buy.

Goldman Sachs said it no longer saw China as the center of commodities pricing, reasoning the pace of demand recovery in developed markets suggested Beijing as a buyer has been crowded out by Western consumers.

Nike Inc said on Thursday it ended its partnership with Brazilian soccer star Neymar last year because he refused to cooperate in an investigation into sexual assault allegations leveled against him by a Nike employee.

China's massive livestock sector is set to snap up millions of tonnes of wheat from the country's winter harvest that began this month, extending a run of crop-switching in animal feed and further cooling demand for corn imports.

Malaysia's palm oil giant FGV Holdings reported a first quarter net loss on Friday, warning of continuing challenges due to the COVID-19 pandemic though it forecast that crude palm oil prices would remain high.

Nike Inc said on Thursday it ended its partnership with Brazilian soccer star Neymar last year because he refused to cooperate in an investigation into sexual assault allegations leveled against him by a Nike employee.

The Russian government has reduced the country's export tax on soybeans to 20% from 30% starting from July 1, TASS news agency reported, citing the government.

London copper advanced on Friday, on track for a monthly gain, as traders bet on prospects of a massive U.S. federal spending while supply concerns in Chile also lent support to prices.

China's national emission trading scheme (ETS) will initially set daily trading limits at 10% of prices when it comes on line late in June, according to a report in the Securities Times citing the chairman of the exchange that will host the trading.

Australia will ask the World Trade Organization (WTO) to establish a dispute settlement panel to resolve concerns about anti-dumping and countervailing duties imposed on Australian barley by China, Trade Minister Dan Tehan said on Friday.

China's carbon emissions from the non-ferrous sector will peak some time after 2025, as a switch to recycled aluminium from electrolytic aluminium speeds up, an industry official said on Friday.

Chicago corn futures rose on Friday, with the market poised for a second weekly gain in a row as strong demand for the feed grain supported prices.

Canada is investigating allegations of forced labour in Malaysia's palm oil and glove manufacturing industries, the government said on Friday.

Copper prices advanced on Friday, buoyed by demand optimism on reports of U.S. President Joe Biden's plans to make a $6 trillion budget announcement, while supply concerns in top producer Chile also supported sentiment.

Malaysian palm oil futures reversed losses incurred in the previous session and jumped over 2% on Friday, as the contract tracked gains in rival soybeans on the Chicago Board of Trade (CBOT).

Chicago corn futures climbed 0.9% on Friday with the market poised for a second week of gains as strong demand for the feed grain supported prices.

Japan said on Friday it would consider sharing its COVID-19 vaccines with other countries as a ruling party committee urged it to provide a portion of its AstraZeneca Plc vaccine stock to Taiwan.

Membership-only retail chain Costco Wholesale Corp reported quarterly revenue on Thursday that beat analysts' estimates and said it was optimistic about sustained demand for high-margin items, such as jewelry and home furnishings.

U.S. soybean processors likely crushed 5.133 million short tons, or 171.1 million bushels, of soybeans in April, according to the average forecast of seven analysts surveyed by Reuters ahead of a monthly U.S. Department of Agriculture (USDA) report.