Nasdaq Commodities

Malaysian palm oil futures rose for a fourth consecutive session on Thursday to their highest close in more than a year, underpinned by stronger rival edible oils and robust demand from key buyers.

Chinese wheat importers have cancelled or postponed about one million metric tons of Australian wheat cargoes, trade sources with direct knowledge of the deals said, as growing world stockpiles drag down prices.

Thousands of farmers rode buses and trains from across India to gather on Thursday at a rally in the capital, New Delhi, pressing a demand for higher guaranteed prices for their crops, as they faced down police barricades and tough security.

Russia's IKAR agricultural consultancy said that it expects Russia's 2024/25 grain crop to be 147 million metric tons, of which 93 million tons would be wheat, Russian news agency Interfax reported on Thursday.

South Korea’s state-backed Agro-Fisheries & Food Trade Corp. has issued an international tender to purchase an estimated 100,800 metric tons of rice mainly to be sourced from the United States and China, European traders said on Thursday.

Chinese wheat importers have cancelled or postponed about one million metric tons of Australian wheat imports, trade sources with direct knowledge of the deals said, as growing world stockpiles drag down prices.

Shanghai copper prices rallied to a near three-year high on Thursday, buoyed by expectations of lower supply as Chinese producers agreed tp cut output, while London copper eased amid a firm U.S. dollar.

Norwegian aluminium maker Norsk Hydro said on Thursday it had appointed Eivind Kallevik as its new chief executive officer after Hilde Merete Aasheim decided to leave the company.

Norwegian aluminium producer Norsk Hydro NHY.OL said on Thursday it had appointed Eivind Kallevik as its new chief executive officer after Hilde Merete Aasheim decided to leave the company.

Major African cocoa plants in Ivory Coast and Ghana have stopped or cut processing because they cannot afford to buy beans, four trading sources said, meaning chocolate prices around the world are likely to soar.

Brazil's electricity producers have reduced their reliance on the country's mammoth system of hydro dams by sharply increasing output from solar and wind farms since 2018, data from energy think tank Ember shows.

German salt and potash miner K&S sees a further decline in core earnings for year ahead as due to lower potash price levels, it said on Thursday, after reporting a more than two-thirds fall in its core 2023 profit.

Indonesia's February trade surplus is expected to have widened slightly from the previous month as exports likely contracted at a slower pace, while imports rose ahead of the Muslim fasting month of Ramadan, a Reuters poll showed on Thursday.

Airline executives are frustrated with Boeing as its safety crisis has upended their business plans. But in a tight market for large aircraft supplied by two companies, they have little choice but do business with the U.S. planemaker.

Chinese wheat importers have cancelled or postponed imports of about 1 million metric tons of Australian wheat cargoes, which were scheduled to be shipped in February, March and April, two trade sources with direct knowledge of the deals said.

Police in the Indian capital put up barricades, stepped up security and warned of traffic congestion on Thursday as thousands of protesting farmers were due to arrive for a rally in support of their demand for higher crop prices.

Chicago wheat futures slid towards their lowest levels since 2020 on Thursday, as cheap Russian supply continued to exert pressure on prices and undermine the competitiveness of U.S. crops.

Chinese wheat importers have cancelled or postponed imports of about 1 million metric tons of Australian wheat cargoes, which were scheduled to be shipped in February, March and April, two trade sources with direct knowledge of the deals said.

Shanghai copper prices jumped more than 3% on Thursday to their highest in nearly three years after Chinese producers agreed to curb output to cope with lower supply of raw material.

Malaysian palm oil futures rose for a fourth consecutive session on Thursday, trading at highs last seen over a year ago, as stronger rival edible oils and crude oil prices underpinned the market.