Malaysian palm oil futures slipped more than 1% on Monday, after notching their best week in two decades, as market participants awaited official supply and demand data, although low stockpile forecast kept prices near a 13-year high hit last week.
Chicago corn futures lost ground on Monday as the market took a breather after a rally to an eight-year high on supply concerns with traders focused on this week's U.S. supply-demand report for a price direction.
U.S. corn futures fell for the first time in more than a week on Monday, as traders squared positions ahead of a widely watched U.S. government report, though concerns over tight global supplies kept prices around a more than 8-year high.
A rising tide lifts all boats but some are heavier than others. Industrial metals are glowing white hot in a fusion of post-pandemic manufacturing recovery and an emerging narrative of a commodities supercycle.
Argentine biotech company Bioceres and local food company Havanna have signed an agreement to produce food based on genetically modified HB4 wheat, the firms said in a joint statement on Sunday.
Benson Hill is going public by merging with a special-purpose acquisition company (SPAC) in a deal that values the plant-growing technology firm at $2 billion, the Wall Street Journal reported on Sunday.
Speculators’ bullishness toward Chicago-traded grains and oilseeds has hovered near record levels since late last year as global demand accelerates and supplies tighten, though various market participants have recently been in the driver’s seat when it comes to the persistent rally, especially in corn.
A group of 15 key copper smelters in China have agreed to cut their purchases of raw material copper concentrate in 2021 by 8.8% year-on-year, state-backed research house Antaike said, in a bid to boost flagging treatment and refining charges (TC/RCs).
Israel approved on Sunday a bailout package for flag carrier El Al Israel Airlines that has the government covering 685 million shekels ($210 million) of company security costs and the airline issuing new shares and freezing dividend payments.
German recycling group Remondis said on Saturday it offered to take a minority stake of up to 40% in the "new Suez" that will hold water management firm Suez's French water assets and some international pieces after its takeover by bigger peer Veolia.
Egypt's state grains buyer, the General Authority for Supply Commodities (GASC) on Saturday said it was seeking vegetable oils in an international purchasing tender for arrival July 11-31.
United Airlines said on Friday it is temporarily pausing service between Chicago and New Delhi in June and delaying the planned launch of flights between San Francisco and Bangalore as a catastrophic explosion of COVID-19 cases hits demand.
Top U.S. mall owner Simon Property Group Inc and Authentic Brands Group LLC have agreed to buy Eddie Bauer, adding the outdoor gear and apparel retailer to a brand marquee housing Aéropostale, Forever 21 and Brooks Brothers.
Speculators cut their net long positions in raw sugar and cotton futures on ICE in the week to May 4, and switched from long to short position in cocoa, data from the U.S. Commodity Futures Trading Commission showed on Friday.
Arabica coffee futures on ICE closed down on Friday as the market consolidated after hitting a four-year peak in the prior session, while raw sugar also fell.
Concerns that global crop supplies will remain lean pushed Chicago Board of Trade corn futures to their highest price since March 2013 on Friday, while soybean futures reached their highest since October 2012.
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