China's Guangzhou Futures Exchange (GFEX) has added more warehouses for lithium carbonate, it said on Monday, a move analysts saw as an effort to alleviate fears of a shortage of cargoes available for January delivery.
Prices of copper and most base metals dropped on Monday as a firmer dollar made the greenback-priced commodities more expensive to holders of other currencies, while traders and investors also eyed key U.S. inflation data.
Malaysian palm oil futures opened marginally higher on Monday, extending gains from the previous session, as the market tracked strength in Chicago soyoil oil.
Chicago wheat futures on Monday slipped further from last week's four-month high as speculators held onto bearish positions despite the strongest run of U.S. wheat sales to China in years.
China produced a record corn crop of 288.84 million metric tons in 2023, up 4% from a year ago even after summer typhoons damaged crops in some northern provinces, according to the statistics department on Monday.
China and Vietnam are set to agree this week on upgraded rail links and other infrastructure, possibly including digital projects, officials said, in moves that would bring Hanoi closer to Beijing as great powers jostle for influence in Vietnam.
Canada on Sunday introduced new economic incentives for beef cattle farms in order to reduce methane emissions from cows, according to a statement from the Canadian government.
Speculators axed a chunk of their plentiful short positions in Chicago-traded wheat last week with China on a U.S. buying spree, but their net short remains historically heavy.
Eight of the world's top commodities traders have pledged to stop buying soy from farms that ruin South American grasslands, adding to previous commitments to shun growers that clear forests, a sector group said on Saturday on the sidelines of the COP28 climate summit.
Benchmark live cattle futures on the Chicago Mercantile Exchange closed higher on Friday in a light short-covering bounce, but still ended the week down about 2%, anchored by sagging wholesale beef prices and rising supplies of market-ready cattle, traders said.
Flight attendants at Southwest Airlines have rejected a tentative contract agreement, with 64% of them voting against the proposed five-year deal, their union said on Friday.
U.S. soybean futures fell on Friday after the Department of Agriculture's updated estimate of Brazil's soybean harvest fell toward the high end of trade expectations, easing concerns about global supplies of the oilseed.
Raw sugar futures on ICE rose on Friday, although the spot
contract still posted a 6.9% fall in the week, under pressure
from increased supplies in top producer Brazil and the prospect
of higher output in India.
Large speculators trimmed their net short position in Chicago Board of Trade corn futures in the week to Dec. 5, regulatory data released on Friday showed.
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