Nasdaq Commodities

New season basmati rice prices in India have surged this year due to robust demand from the world's top buyers in the Middle East and Europe, forcing bulk buyers in wholesale grain markets to pay 10% to 15% more than last year.

Brazilian farmers are expected to reap 10 million tons less soybeans than initially forecast, after a drought slammed Mato Grosso state farmers who planted their crop early, Alexandre Mendonça de Barros, partner at MB Agro consultancy, said on Tuesday.

Euronext wheat futures steadied on Tuesday, with support from Chicago after hitting their lowest in about two years, though strength in the euro tempered hopes of renewed export demand.

Farmers in Gaza were taking advantage of the truce between Israel and Hamas to harvest what was left of their olives after weeks of fighting during which they dared not go to their lands for fear of getting killed.

In trading on Tuesday, shares of Ternium S A (Symbol: TX) crossed above their 200 day moving average of $40.17, changing hands as high as $40.46 per share. Ternium S A shares are currently trading up about 0.8% on the day. The chart below shows the one year performance of TX

Soft wheat exports from the European Union since the start of the 2023/24 season in July had reached 11.99 million metric tons by Nov. 26, down 18% from 14.68 million a year earlier, data published by the European Commission showed on Tuesday.

New York cocoa futures rose to a 46-year high on Tuesday, supported by tightening supplies, while raw sugar prices fell under pressure from Brazilian output.

Brazilian beefpacker Minerva will account for 50% of South American beef exports in five years, up from 40% presently, Chief Executive Fernando Queiroz said at an event hosted by the company on Tuesday.

Brazil's 2024/25 arabica coffee crop is expected to reach 48.31 million 60-kg bags, broker hEDGEpoint said on Tuesday, increasing its forecast from the 47.63 million bags previously estimated.

Soft wheat exports from the European Union since the start of the 2023/24 season in July had reached 11.99 million metric tons by Nov. 26, compared with 14.68 million a year earlier, data published by the European Commission showed on Tuesday.

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

Sugar beet production in France is expected to rise slightly this year as a rebound in yields compensated for a lower area, but the forecast could be cut after heavy rainfall flooded fields in northern France, growers group CGB said on Tuesday.

Brazilian farmers are expected to reap 155 million metric tons of soybeans in the 2023/24 cycle, 10 million tons below initial expectations, after a drought affected Mato Grosso state farmers who planted their crop early, a consultant at MB Agro said on Tuesday.

In Texas, oil and gas producer Occidental Petroleum is constructing a giant facility to suck 500,000 metric tons of carbon dioxide out of the atmosphere annually to keep it from warming the climate, a project backed by hundreds of millions of dollars from investment firm BlackRock.

New York cocoa futures eased slightly on Tuesday after earlier climbing to a 45-year high as the market remained underpinned by tight supplies, while raw sugar prices fell.

Russian wheat production could reach 90 million tons in 2024 in a third straight bumper harvest following a favourable autumn sowing campaign, Agritel said on Tuesday.

Speculators are building up big short positions in U.S. grain futures on plentiful global supplies, though a tighter oilseed market and weather concerns in South America have kept funds long the Chicago soy complex.

South African farmers are expected to harvest 6% more maize in the 2022/2023 season compared with the previous season, the government's Crop Estimates Committee (CEC) said on Tuesday.

Copper prices edged higher on Tuesday on hopes that top metals consumer China will extend support measures for its economy while nickel rebounded from three-year lows.

A Virgin Atlantic passenger jet flying from London to New York powered by 100% sustainable aviation fuel (SAF) took off at 1149 GMT on Tuesday, as the aviation world seeks to showcase the potential of low carbon options to secure its future.