Commodities - General News 04 (May 18 - Dec 25)

[winston]

Hedge Funds Keep Cutting Bullish Wagers on Commodities

by Michael Hirtzer and Yvonne Yue Li

The latest sign that commodities prices may have reached a peak: Hedge funds have pulled their money out of the markets for three straight weeks.

Milder weather is raising the prospect of bigger harvests across the U.S., while also reducing demand for natural gas. Oil markets are bracing for bigger supplies.

And China, the world’s biggest commodities buyer, is moving to contain high raw material prices.

Source: Bloomberg

https://finance.yahoo.com/news/hedge-fu ... 00794.html

[behappyalways]

UN "Worried" As Global Food Prices Soar To Ten Year High
https://www.zerohedge.com/commodities/w ... els-decade

[winston]

China To Release National Reserves Of Copper, Aluminium And Zinc

Although there has yet to be an official confirmation, there have been reports that China intends sell its reserve of copper/aluminium/zinc to curb the surging metals prices.

These metals could be sold directly to downstream users monthly until end-21.

National copper/aluminium reserves are estimated at 2m/0.82m tonnes, or 16%/2% of China’s annual consumption respectively.

We expect the metals shortage to ease in the near term, but base metals’ price will remain resilient on solid fundamentals in the mid-long term.

Source: UOBKH

https://research.uobkayhian.com/content ... e7fa9ec785

[winston]

Commodities from copper to corn tumble on China crackdown, rising dollar

by Jesse Pound

The decline in commodities was widespread, with futures prices for palladium and platinum falling more than 11% and 7%, respectively, along with declines of nearly 6% for corn futures and 4.8% for contracts tied to copper. Oil prices were also down more than 1%.

Source: CNBC

https://www.cnbc.com/2021/06/17/commodi ... KW,4PR9K,1

[winston]

Commodities tumble on China crackdown, rising Dollar

The prices of commodities fell sharply on Thursday, cutting into months of gains and weighing on equity markets, as China takes steps to cool off rising prices and the US Dollar strengthens.

The decline in commodities was widespread, with futures prices for palladium and platinum falling over 11% and 7%, respectively, along with dip of nearly 6% for corn futures and 4.8% for contracts tied to copper. Oil prices were also down more than 1%.

Thursday’s move continued a slide that began earlier in the week, thanks in part to actions by Chinese regulators.

A Chinese government agency announced a plan on Wednesday to release reserves of key metals, including copper and aluminium, according to Reuters.

Officials in the country have also warned about speculation in financial markets in recent weeks.

Source: OCBC

[behappyalways]

Glencore CEO Says Commodity Prices Will Stay Elevated For Longer
https://www.zerohedge.com/commodities/g ... ted-longer

[behappyalways]

Grocery Prices Could Rise 10-14% By October, Grocery Chain CEO Warns
https://www.zerohedge.com/personal-fina ... -ceo-warns

[behappyalways]

World Food Prices Jump In August To Near Decade High
https://www.zerohedge.com/markets/world ... ecade-high

[behappyalways]

Food shortages could be permanent, warns industry body
https://www.bbc.com/news/business-58519997

[behappyalways]

Dry bulk flashes red as Evergrande contagion fears grow
https://splash247.com/dry-bulk-flashes- ... ears-grow/