Nasdaq Commodities

Export prices for Russian wheat continued to decline last week amid low demand and weakening global markets, and stormy weather affected volumes, analysts said.

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

Chicago wheat futures rose for a second session on Monday, supported by a lower-than-expected official forecast of U.S. supply next season and doubts over the renewal of a deal on the shipping corridor from Ukraine before a deadline this week.

Brazilian airline Azul SA on Monday said it expects to increase capacity by around 14% in 2023 as it reported a narrowed first quarter net loss, providing upbeat estimates after a restructuring deal with lessors.

Ukraine's grain exports for the 2022/23 season stood at 43.6 million tonnes as of May 15, Agriculture Ministry data showed on Monday.

Indian agricultural chemicals maker Coromandel International Ltd reported a 15% fall in its quarterly profit on Monday, as soaring costs offset growing demand.

Rainfall was below average last week in most of Ivory Coast's cocoa-growing regions, where farmers said more moisture was needed to have a strong end to the April-to-September mid-crop.

Brazilian state-run oil giant Petrobras is moving closer to making changes to its fuel pricing policy and executives are set meet this week to analyze a new model.

New York cocoa futures on ICE were lower on Monday, slipping back slightly from the prior session's 6-1/2 year high, although tight supplies continued to underpin the market.

In the vast Chaco forests of northern Argentina, Noole rests from the fierce sun in the scented shade of dark carob trees on a small farm where her family grows watermelons and potatoes to eat or sell at market.

Malaysian palm oil futures closed lower on Monday, weighed by concerns over higher production as well as weak demand after larger rival Indonesia lowered its exports tax.

Copper prices rose in London on Monday, as a liquidity injection by China's central bank, the People's Bank of China, came as a sign of support to the Chinese economy and helped the metal recover from a five-month low hit last week.

Ukraine exported about 2.5 million tonnes of agricultural goods via its Black Sea export corridor in April, a senior Ukrainian foreign ministry official said on Monday.

Ukraine cannot rule out that a deal allowing the safe Black Sea export of Ukrainian grain will end on May 18 when it expires and the situation is uncertain, with no additional negotiations planned this week, a Ukrainian foreign ministry official said on Monday.

Philippines President Ferdinand Marcos Jr on Monday approved imports of up to 150,000 tonnes of sugar to stabilise local prices as a domestic shortfall looms, his communications office said.

Malaysian palm oil futures inched down on Monday, weighed by losses in rival soyoil after a U.S. government report pegged a record-high production, although a weaker ringgit capped losses.

China's Shandong Nanshan plans to expand its new Indonesian alumina plant to a $6 billion aluminium smelting complex by 2028, a company executive said, which would be among the largest foreign investments in the resource-rich nation.

Shares of Avenue Supermarts Ltd, which operates the DMart retail chain, fell 4.7% on Monday after the company's fourth-quarter profit missed estimates and core profit margin contracted as consumers curbed discretionary spending.

India's SpiceJet Ltd said on Monday that UK-based SRAM & MRAM Group will invest $100 million in its cargo division SpiceXpress, sending shares of the budget airline up as much as 4.8%.

Indonesia's April trade surplus came in slightly bigger than expected, even as its exports and imports plunged along with declining prices of its main commodities like palm oil, coal and nickel.