Nasdaq Commodities

Daily energy market commentary provided by Nasdaq Corporate Solutions Advisory Services' Energy Team.

More rain is needed in Ivory Coast's main cocoa-growing regions this month to boost growth of the October-to-March main crop before the onset of the dry season, farmers said on Monday.

Saudi Arabia's General Food Security Authority (GFSA) said on Monday it bought 710,000 tonnes of wheat from Saudi producers based overseas.

Wall Street brokerages largely initiated Birkenstock with their top ratings, pointing to a likely boost from the German luxury sandal maker's recent investments to increase capacity, expansion into newer styles and brand loyalty.

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Ukraine's agriculture ministry said on Monday it was keeping its winter wheat sowing area forecast for the 2024 harvest unchanged at 4.36 million hectares versus 4.46 million hectares in 2023.

Copper prices climbed on Monday to one-month highs as a softer dollar and China committing to boost its imports spurred fund buying ahead of key Chinese economic data.

Brokerages including J.P. Morgan and Goldman Sachs have started coverage on Birkenstock, with most of them assigning their top ratings as they bank on brand loyalty and easing supply chain issues at the German luxury sandal maker.

Travelers are canceling or postponing planned vacations to the Middle East and North Africa due to fears of the Israel-Hamas conflict worsening, and as touring companies have also altered itineraries and canceled flights.

Malaysian palm oil futures ended lower for a second day on Monday, weighed by a strengthening ringgit and expectations of a rise in October inventory and output.

European shares were lacklustre on Monday after the benchmark index posted its biggest weekly jump since March, with the real estate sector losing steam, while Ryanair hit a one-month high following a forecast of a record annual profit.

Indonesia would extend until June 2024 its monthly rice handout programme involving 21.3 million lower-income households, its chief economic affairs minister Airlangga Hartarto said on Monday.

Virgin Atlantic will fly from London to New York on Nov. 28 using 100% sustainable aviation fuel (SAF), after Britain gave it permission, paving the way for a world first as airlines step up efforts to decarbonise travel.

Main-crop cocoa arrivals at ports in top grower Ivory Coast since the start of the season on Oct. 1 had reached 290,000 metric tons by Nov. 5, down 16.7% from the same period last season, exporters estimated on Monday.

Japan's largest industrial union UA Zensen will seek a 6% total wage increase, of which 4% will be base pay hikes, at next spring's negotiations, a union official said on Monday.

Britain's Civil Aviation Authority has granted Virgin Atlantic permission to fly from London to New York on Nov. 28 using 100% sustainable aviation fuel, as the airline industry steps up its efforts to try to decarbonise travel.

Indian consumer good company Zydus Wellness reported a more than 30% drop in second-quarter net profit on Monday due to a one-off deferred tax expense.

Ukraine's grain exports have fallen to 9.8 million metric tons so far in the 2023/24 July-June marketing season, agriculture ministry data showed on Monday.

Ryanair on Monday forecast a record annual profit and promised to pay investors a regular dividend for the first time after fares soared 24% during the summer season.

Australian Prime Minister Anthony Albanese stopped by Beijing's Temple of Heaven on Monday as he followed in the footsteps of the first Australian leader to visit China, retracing a walk made five decades ago as ties were being established.