Nasdaq Commodities

Russia's Sovecon agriculture consultancy has raised its wheat export forecast for the 2023/24 season to a new record of 48.1 million metric tons from 47.2 million, it said on Monday.

At least four people were injured on Monday when an explosion rocked grain silos near the port of Derince in western Turkey, state broadcaster TRT and other media reported.

Agribusiness consultancy AgRural has further increased its estimate for Brazil's corn output in 2023, it said on Monday, after positive yields were reported as farmers harvest their bumper second crop.

Brazilian farmers had harvested 64% of the area planted for their second corn crop in the center-south region by August 3, consultancy AgRural said on Monday, up 9 percentage points from the previous week.

One of the main tools of statecraft in recent years has been trade sanctions or tariffs, but with China taking another step to normalising its trade relationship with Australia, the main lesson is these actions seldom work.

Malawi's sales of tobacco, its biggest foreign exchange earner, increased to roughly $282 million in the latest season, up from $182 million a year earlier, its industry regulator said.

Bayer Cropscience, the Indian unit of German drug and pesticide maker Bayer AG, on Monday reported an 8.6% rise in quarterly profit, boosted by strong sales in its corn seeds business.

Tyson Foods missed Wall Street expectations for third-quarter revenue on Monday as higher beef prices hit demand for its products, sending its shares down more than 5% before the bell.

Goldman Sachs' global head of commodities research Jeff Currie, a prominent analyst who accurately predicted a surge in commodity prices in the 2000s, is retiring, according to a memo seen by Reuters.

Malaysian palm oil futures extended early losses on Monday, hitting a near six-week closing low on expectations of higher supply in the world's second-largest producer and sluggish demand.

Chicago wheat rose around 2% on Monday as global supply concerns intensified, spurred by fears of an escalation of attacks on Black Sea shipping after a Ukrainian strike on a Russian tanker.

Ukraine has become entirely dependent on alternative European Union routes for its grain exports after Russia last month exited a year-long deal that had allowed them to be shipped safely via its Black Sea ports.

Air France has suspended flights to and from Ouagadougou in Burkina Faso and Bamako in Mali until Aug. 11, the company said on Monday, after Niger's junta closed its airspace on Sunday, with longer flight times expected in the west African region.

Hundreds of cattle died in Iowa from extreme heat and humidity in late July, the state and livestock producers said, as the world recorded its hottest month ever.

Egypt's state sugar buyer the Egyptian Sugar and Integrated Industries Company (ESIIC) is believed to have purchased around 50,000 metric tons of raw sugar in an international tender which closed on Aug. 5, traders said on Monday.

Eight Amazon rainforest nations are expected to face divisions over proposals to block new oil drilling and end deforestation when they meet on Tuesday for their first summit in 14 years.

Ukraine's grain exports have risen to 2.56 million metric tons so far in the 2023/24 July-June season from 2 million tons at the same time of the season last year, Agriculture Ministry data showed on Monday.

Kazakhstan is in talks with Abu Dhabi Ports to set up a joint venture that would help ship Kazakh agricultural exports via Iran and then Gulf ports, the Central Asian nation's government said on Monday.

Thailand is benefiting from India's rice export ban and has no reason to halt shipments of the grain itself, its commerce minister said on Monday.

Dutch postal firm PostNL lifted its 2023 operating profit guidance on Monday, pointing to higher volumes of parcels.