|Day's Range||296.80 - 301.40|
China has levied tariffs on a wide variety of U.S. products, from LNG to agriculture, but Beijing has kept the door open for crude oil and other essentials
A rare mix of geopolitical tensions in the Middle East and China is tugging oil prices in opposite directions and creating uncertainty over where they might land. Deteriorating trade talks between the United States and China have threatened to drive down the cost of oil and gasoline. WASHINGTON (AP) -- Caught in a sprawling trade dispute with U.S. rival China, President Donald Trump has decided against declaring commercial war on America's friends.
Shortly after the turn of the century, U.S. government officials banned methyl tertiary butyl ether, or MTBE, a gasoline additive that boosts octane. Demand for ethanol, and corn, got another huge boost when the U.S. government imposed rules calling for every tank of gasoline to contain 10% renewable fuels. How the agricultural sector responded, and what happened in commodity markets, is a tale worth remembering as more people shift from meat to vegetable protein.
Gold markets fell rather hard during trading on Thursday, crashing into the $1290 level before stopping on a dime. That’s pretty impressive support, so at this point it looks that although the downtrend line has held and of course sent the market lower, the reality is that we have not change the entire outlook.
The trade war is back on. This week, China vowed to raise tariffs on $60 billion of US goods, retaliating against tariffs the US government imposed on May 10. The White House is now threatening to levy 25% duties on all remaining Chinese goods the US imports.
Grain prices are on the rise with corn leading the charge. The rally represents a rebound from Monday’s trade war lows, with prices rising due to planting delays and short-covering.
Hedge funds cut bullish commodity bets to a 40-month low in the week to May 7. The 41% reduction to just 219k lots was broad-based with all sectors being sold in response to renewed trade war and demand concerns.
* Market falls to near 7-week low of 2,049 rgt/tonne * Palm oil may break support at 2,085 rgt/tonne - techs (Updates with quote, background) By Emily Chow KUALA LUMPUR, May 2 (Reuters) - Malaysian palm ...
* Palm down for 3rd session, hits lowest since April 1 * Palm oil may fall towards 2,083 ringgit/tonne - Techs (Updates with closing prices) By Emily Chow KUALA LUMPUR, April 29 (Reuters) - Malaysian palm ...
CHICAGO/BENGALURU (Reuters) - Archer Daniels Midland Co said on Friday it was considering spinning off its ethanol business after slim biofuel margins and Midwestern floods slammed the U.S. grains merchant's profit, which tumbled 41% in the first quarter. One-sixth of U.S. ethanol production was halted. "The first quarter proved more challenging than initially expected," said Chairman and Chief Executive Juan Luciano, citing weaker earnings in its starches, sweeteners and bioproducts unit for the quarter ended March 31.
CHICAGO/BENGALURU, April 26 (Reuters) - Archer Daniels Midland Co said on Friday it was considering spinning off its ethanol business after slim biofuel margins and Midwestern floods slammed the U.S. grains merchant's profit, which tumbled 41% in the first quarter. One-sixth of U.S. ethanol production was halted. "The first quarter proved more challenging than initially expected," said Chairman and Chief Executive Juan Luciano, citing weaker earnings in its starches, sweeteners and bioproducts unit for the quarter ended March 31.
In the final installment of a three-part series, FreightWaves examines prospects dry bulk commodities transiting the Panama Canal. Part One featured the outlook for liquid bulk and Part Two focused on container shipping. Since the Panama Canal's larger ‘Neopanamax' locks debuted in June 2016, the spotlight has shone on container ships and carriers of liquefied natural gas and liquefied petroleum gas.
* Palm falls to near one-month low of 2,104 rgt/T * Market also bearish on end-stocks outlook - trader * Palm down 3.3 pct on-week (Updates with closing prices) By Emily Chow KUALA LUMPUR, April 26 (Reuters) ...
A rifle resting on his shoulder, Tatji Arara looks despondent as he steps over the trunks of huge trees felled by timber traffickers in the heart of Brazil's Amazon rainforest, now the scene of numerous land conflicts. Bolsonaro, a far-right champion of agribusiness, vowed during last year's election campaign that he would not give up "one centimeter more" of land to indigenous communities in Brazil, home to around 60 percent of the Amazon rainforest.
The African swine fever disease has spread beyond China, the world's biggest producer of pork. It has hit Southeast Asia and parts of Europe. In China, prices could jump roughly 78% by 2020 — according to a prediction by Japanese bank Nomura, on top of a surge of nearly 40% from a low in May 2018.
A futures contract is a legally binding agreement to buy or sell a standardized asset at a predetermined price at a specified time in the future. Typically, futures contracts are traded electronically on exchanges such as CME Group, which is the largest futures exchange in the U.S. Many futures contracts—such as those based on crude oil, gold, soybeans, and more—have origins quite literally at ground level (or below ground).
Liquefied natural gas (LNG) will become a big part of China-U.S. trade once tensions are properly resolved between the two countries, a senior executive from China National Offshore Oil Corp (CNOOC) said on Wednesday. LNG will also continue to dominate China's natural gas imports, already accounting for 60 percent of its gas imports last year, said CNOOC Vice President Li Hui on the sidelines of the LNG2019 conference in Shanghai.
* Market registers strongest intraday gain in three months * Palm also up on stronger exports outlook -trader * Malaysia March exports up 22-28 pct -ITS, AmSpec Agri, SGS (Updates with closing prices) ...
* Market sees strongest intraday gain in 2 weeks * Palm also up on stronger exports outlook - trader * Malaysia March exports up 22-28 pct - ITS, AmSpec Agri, SGS By Emily Chow KUALA LUMPUR, April 2 (Reuters) ...
A rebound in commodities prices and investment is poised to extend in coming months as the sector gets its traditional boost during the final stages of the global economic cycle along with other drivers. While some investors worry about a possible recession, commodities are due to benefit from an expected U.S.-China trade deal, tightening oil supply and potential short-covering in beaten-down U.S. grain futures. The 19-commodity Thomson Reuters/Core Commodity CRB Index, which has rebounded 10 percent from an 18-month low touched at the end of last year, should also get further support from easier monetary policy that has lifted all financial markets, analysts and traders said.
KUALA LUMPUR, March 29 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets. FUNDAMENTALS * Malaysian palm oil futures slipped to a more ...
U.S. wheat futures fell for the first time in three sessions on Monday after hitting a 12-day high in early trade, as ample global supplies weighed on prices. FUNDAMENTALS * The most active wheat futures ...