Nasdaq Commodities

(RTTNews) - After moving modestly higher in each of the two previous sessions, the price of gold showed a slight move back to the downside during trading on Wednesday.

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Sales at Italian fashion group Tod's rose by 23% in the first quarter of the year, beating analysts' forecasts thanks to a strong performance in China and despite moderate growth in the Americas.

Australia's Trade Minister will travel to Beijing on Thursday to meet his Chinese counterpart, as Canberra pushes for the removal of all trade impediments and diplomatic relations stabilise.

Algeria’s state grains agency OAIC has started buying milling wheat in an international tender which closed on Wednesday with about 500,000 tonnes believed to have been purchased, European traders said in initial assessments.

Turkish Foreign Minister Mevlut Cavusoglu said on Wednesday he thought the Ukraine Black Sea grain deal could be extended for at least two more months, as officials from the parties involved held the first day of talks on an extension in Istanbul.

Brazil's total corn output will grow by 12% from the previous cycle, reaching a projected average of 126.7 million tonnes in 2022/2023, according to estimates from 13 forecasters in a Reuters poll on Wednesday.

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U.S. corn futures rose on Wednesday, on track for their fifth day of gains in the last six sessions, on signs of strength in the cash market, traders said.

Thailand's 2023/24 sugarcane crop (Oct-Sept) is projected at 74 million tonnes, 21% less than in 2022/23, as farmers switch to more profitable plants and the El Nino weather phenomenon is expected to reduce yields, a report said on Wednesday.

Mexico could recover a much-needed aviation safety rating by mid-June, following an upcoming audit from the U.S. Federal Aviation Administration (FAA), the country's transportation minister said in an interview published Wednesday.

The White House reiterated on Wednesday that it supports energy permitting legislation as President Joe Biden and congressional Republicans try to end a standoff on the debt ceiling.

A resistant fungus which wilts banana and plantain plants and infects soil could worsen the food crisis in Venezuela, where 6.5 million people already suffer hunger, growers groups and a United Nations agency say.

Soft wheat exports from the European Union in the 2022/23 season that started last July reached 26.49 million tonnes by May 7, up 11% compared with 23.87 million a year earlier, data published by the European Commission showed on Wednesday.

European Union soybean imports in the 2022/23 season that started in July had reached 10.66 million tonnes by May 7, down 12% from 12.07 million by the same time a year earlier, data published by the European Commission showed on Wednesday.

Soft wheat exports from the European Union in the 2022/23 season that started last July had reached 26.49 million tonnes by May 7, compared with 23.87 million a year earlier, data published by the European Commission showed on Wednesday.

New York cocoa futures on ICE climbed to a 6-1/2 year peak on Wednesday, buoyed by tight supplies, while raw sugar prices edged higher.

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

The share of Russian aluminium stocks in warehouses registered with the London Metal Exchange (LME) fell slightly - to 52% of the total in April, or 256,125 tonnes, from 53% in March, data on the exchange's website showed on Wednesday.

India's oilseed growers have urged the government to raise the import tax on palm oil, the most widely used vegetable oil, to help support thousands of local farmers reeling from a crash in domestic rapeseed prices.