Commodities

Renewable fuels take bite out of US diesel consumption: Kemp

Biodiesel and other renewable diesel fuel oils are displacing a small but growing volume of petroleum-derived distillate fuel oil in the United States, especially in California and other parts of the...

Are 2024 Chicago corn futures mimicking those of 2014? -Braun

Industry analysts spent much of 2023 deciding whether new-crop Chicago corn futures were tracking more closely with 2012 or 2013, though 2013 was certainly the better analog in the end. ...

Russia will re-sow crops killed by frost, TASS says

Russian regions hit by frosts this month will re-sow crops that were killed by the cold, state news agency TASS quoted the agriculture ministry as saying on Thursday. Three of Russia's...

Are 2024 Chicago corn futures mimicking those of 2014? -Braun

Industry analysts spent much of 2023 deciding whether new-crop Chicago corn futures were tracking more closely with 2012 or 2013, though 2013 was certainly the better analog in the end. ...

Goldman Sachs sees OPEC+ unlikely to raise production at June meeting

Goldman Sachs on Wednesday said they no longer expect OPEC+ to announce a partial unwind of voluntary production cuts in June. The bank said inventories have recently surprised to...

ICE Canada Weekly Outlook : Uptrend Intact, Weather Conditions Being Watched

WINNIPEG, Manitoba--ICE Futures canola contracts climbed to their highest levels of 2024 in early May before taking a step back on May 8. While the uptrend is still intact, improving moisture...

Corn Futures Drop as Caution Rules Ahead of WASDE -- Daily Grain Highlights

By Kirk Maltais -- Corn for July delivery fell 1.7% to $4.59 1/4 a bushel on the Chicago Board of Trade on Wednesday, falling as traders get their books in order ahead of the Friday USDA report....

ICE Review : Canola Weakens Wednesday

WINNIPEG, Manitoba--The ICE Futures canola market was weaker on Wednesday, with profit-taking after recent gains behind some of the selling pressure. Widespread Prairie rains contributed to the...

US gas surplus will be eliminated before end of winter 2024/25: Kemp

U.S. gas inventories are near record highs for this time of year after exceptionally mild temperatures linked to the El Nino weather phenomenon slashed gas and electricity consumption for heating...

Russia's Voronezh region declares crop emergency due to frost

One of Russia's top grain regions, Voronezh, has declared a state of emergency because of frost damage to crops, the regional agriculture ministry said on Wednesday. According to...

Funds negative towards US crude and fuels amid ample stocks: Kemp

Investors shuffled positions in petroleum modestly last week after heavy selling the week before as war risk diminished and prices settled back towards long-term inflation-adjusted averages. ...

Haitians brace for more rain after downpours kill 13

Heavy rains are expected to continue across Haiti on Friday, the national weather service said, after killing at least 13 people in the north and damaging thousands of homes. If you live...

OPEC+ likely to extend production cuts in June: Kemp

Saudi Arabia and its allies in OPEC+ are likely to keep oil production unchanged for a further three months when ministers review output allocations on June 1. The tightening of...

Asia's crude oil imports slip in April, trail OPEC forecasts: Russell

Asia's imports of crude oil slipped slightly in April from March, as increased arrivals in China failed to offset lower purchases elsewhere in the world's top-importing region. April...

The anomaly behind gold

Gold, often seen as a safe haven in times of economic and geopolitical uncertainty, saw its price reach all-time highs in the first quarter of 2024. This rise was fuelled by growing global demand,...

Goldman Sachs Now Sees Dip to $84/Bbl for December Brent Crude -- OPIS

The commodities team at Goldman Sachs still believes that holding long positions in Brent crude will be profitable, but in a departure from 2023 leanings, the bank said that Brent prices may dip to...

Gold demand including OTC was at eight-year high in Q1, WGC says

Global gold demand rose by 3% year-on-year to 1,238 metric tons in the first quarter of 2024, marking the strongest first quarter since 2016, due to active over-the-counter trading, the World Gold...

Hedge funds retreat from oil as war risk fades: Kemp

Investors sold oil at the fastest rate for more than six months amid signs that Israel and Iran have chosen not to escalate their conflict, ensuring the rally in crude prices stalled well before...

Hedge funds retreat from oil as war risk fades: Kemp

Investors sold oil at the fastest rate for more than six months amid signs that Israel and Iran have chosen not to escalate their conflict, ensuring the rally in crude prices stalled well before...