Nasdaq Commodities

Chicago wheat futures edged lower on Friday, pausing after an eight-day rally driven by strong Chinese demand, with participants awaiting U.S. government crop forecasts.

Volunteers waded through stagnant water to hand out food and supplies, and some manufacturing plants remained shut in India's southern tech-and-auto hub district of Chennai on Friday, four days after cyclone Michaung lashed the coast.

Copper prices extended their rebound on Friday, lifted by firm demand in top metals market China and hopes for interest rate cuts next year that would boost the global economy.

Global commodities trader Trafigura posted a record net profit of about $7.4 billion for the 12 months to the end of September, up 5% from a year earlier, saying it expected more "normal", less volatile conditions ahead.

Commodities trader Trafigura posted a record net profit of about $7.4 billion for the 12 months to the end of September, up 5% from a year earlier, and promised a $5.9 billion dividend to shareholders, while anticipating a slowdown in future earnings.

India's wheat inventories at state warehouses have dropped to 19 million metric tons, the lowest in seven years, two government sources said on Friday, as two years of falling production forced state-run agencies to sell more grain to private players.

Raw sugar futures on ICE rose on Friday, though the market was still headed for a near double-digit weekly fall in percentage terms, under pressure from increased supplies in top producer Brazil.

The EU should go beyond banning aluminium wire, foil, tubes and pipes produced in Russia by sanctioning Russian aluminium metal for a greater impact, industry group European Aluminium said.

Malaysian palm oil futures closed up on Friday, snapping a five-session losing streak, on strength in rival oils.

The United Nations food agency's world price index was unchanged in November from the month before, with lower international cereal prices offset by higher prices of vegetable oils.

The European Union is considering reopening a case at the World Trade Organization against the United States over a steel and aluminum dispute that saw the allies hit each other with tariffs on more than $10 billion of goods, Bloomberg News reported on Friday, citing people familiar with the matter.

India is working to ensure supplies of ethanol for blending with gasoline are not disrupted, government officials said on Friday, a day after curbs were placed on ethanol production from cane juice to boost sugar supplies.

Norwegian Air said on Friday it had asked Norway's competition watchdog (NCA) to reverse a planned ban of the airline's takeover of domestic rival Wideroe.

French farmers had sown 89% of the expected soft wheat area for next year's harvest by Dec. 4, compared with 83% a week earlier, farm office FranceAgriMer said on Friday.

India has lowered the stock limit of wheat to increase the grain's availability, the food ministry's most senior civil servant said on Friday.

Copper prices advanced on Friday on expectations of improving demand from top metals consumer China after the country's exports data showed signs of recovery.

Chicago wheat futures rose on Friday for a ninth consecutive session and were on track to end the week up nearly 7%, the biggest weekly gain since June, after the largest U.S. sales to China in years caused a flurry of short-covering.

As sportswear rivals jockey for position ahead of next year's Paris Olympics, Adidas is aiming to stamp its brand on smaller events such as breaking, climbing, skateboarding and BMX.

Malaysian palm oil futures rose on Friday, tracking strength in rival oils, and snapping a five-session losing streak.

Cathay Pacific Airways on Friday said it has placed an order to purchase six Airbus A350 freighters for a basic price of $2.71 billion, potentially replacing its aging cargo fleet of Boeing 747 jets.