Singapore's Olam Group said on Friday it is targeting the IPO of its agricultural unit by the first half of 2024, and the commodity trader reported an 88.8% fall in first-half profit on lower crop yield from its almond orchards in Australia.
A dry, warm spell from this week should let wheat growers in northern Europe step up harvesting after heavy rain threatened to add quality problems to a crop where yields have already been reduced by earlier drought, analysts and farmers said.
Raw sugar futures on ICE fell on Friday as the market consolidated, with top producer Brazil continuing to churn out a bumper crop, while cocoa edged further away from recent multi-year peaks.
Brazilian coffee farmers had sold 41% of their 2023/24 crop by early August, consultancy Safras & Mercado said on Friday, lagging the 45% sold at the same point last year and the long-term average for the period of 46%.
India's Nykaa reported a higher first-quarter revenue on Friday, as the cosmetics-to-fashion retailer's flagship sale event helped sustain demand amid a slowdown in discretionary spending.
Tunisia's state grains agency is believed to have purchased about 25,000 tonnes of soft wheat in an international tender on Friday, European traders said.
Despite earlier volatility, Chicago-traded corn futures have struggled to find direction over the last several sessions, though a fresh U.S. crop forecast from the government could help sort that out on Friday.
Raw sugar futures on ICE fell on Friday as the market consolidated, with top producer Brazil continuing to churn out a bumper crop, while cocoa edged further away from recent multi-year peaks.
Copper prices fell on Friday and were on track for their biggest weekly fall in three months after data demonstrating the sluggish nature of China's post-pandemic recovery.
China on Friday left its 2023/24 August corn and soybean output estimate unchanged, despite flooding in the crops' important growing areas in north and northeastern China after typhoon Doksuri brought record-breaking rain.
Malaysian palm oil futures fell for a third consecutive week on Friday, dragged by weakness in rival vegetable oils on the Dalian Commodity Exchange although rising exports offered some support.
Chicago soybeans edged higher on Friday while corn and wheat eased as participants awaited direction from a U.S. government crop report seen as a key gauge of U.S. harvest prospects.
The lowest price offered in the international tender from Tunisia's state grains agency on Friday to purchase around 25,000 tonnes of soft milling wheat was believed to be 250.24 euros ($274.91) a tonne c&f for optional-origin supplies, according to initial assessments from European traders.
Singapore's Olam Group posted an 88.8% fall in first-half profit on Friday, hurt by a lower crop yield from its almond orchards in Australia and higher borrowing costs.
Air Canada reported a quarterly profit on Friday compared with a year-ago loss as Canada's largest airline cashed in on strong international travel demand.
Canadian industries are pushing back against the country's planned January launch date of the Modern Slavery Act, intended to fight forced labor and child labor in supply chains, as mining and apparel trade groups say the government has failed to spell out the details of the law's requirements.
French firefighters on Friday continued to tackle the remnants of a blaze at grain silos in the Atlantic port of La Rochelle, but the site's operator expected little disruption to loading at one of France's biggest grain export terminals.
Indian textiles maker Raymond reported on Friday a multifold jump in first-quarter profit, helped by an exceptional gain from the sale of its consumer business.
South Korea’s state-backed Agro-Fisheries & Food Trade Corp. has issued an international tender to purchase an estimated 130,200 metric tonnes of rice all to be sourced from China, European traders said on Friday.
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