Nasdaq Commodities

Prices of copper slid on Wednesday, amid gloomy demand outlook in top consumer China and expectations of rising supplies, despite support from the weakness in the dollar.

Chinese e-retailer Temu said on Wednesday it has been the target of rival Shein's "unlawful exclusionary tactics" since Temu's U.S. launch in 2022, ramping up a feud between the fast-fashion competitors days after a lawsuit was filed.

The luxury goods industry has relied heavily on China and North America for growth in recent years, but latest Chinese economic figures and a disappointing sales update from Cartier-owner Richemont suggest both markets may be starting to slow.

Prices of copper dipped on Wednesday, weighed by demand concerns in top consumer China where supply is expected to rise, although losses were capped by a weak dollar.

Chicago soybean and corn futures gained more ground on Wednesday, with forecasts of dry weather in the U.S. Midwest supporting prices.

Ukrainian air defence systems were engaged in the early hours of Wednesday in repelling a Russian air attack on the southern port of Odesa for a second consecutive night, the region's governor said.

American Airlines' pilot union has warned that the ratification of the company's new contract deal is in "jeopardy" as United Airlines has raised the benchmark with its own deal, according a union memo seen by Reuters.

The following are analysts' estimates for the U.S. Department of Agriculture's monthly Cattle on Feed report, which is due on Friday at 2 p.m. CDT (1900 GMT).

American Airlines' pilot contract agreement is in "jeopardy" as United Airlines has changed the "playing field" with its own deal, the Texas-based carrier's union said in a memo seen by Reuters.

U.S. soybean futures touched a one-month high on Tuesday on concerns about the risk of U.S. supplies tightening and unfavorable weather hurting yields, analysts said.

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President Joe Biden has created a new role on the National Economic Council (NEC) to tackle anti-competitive business practices, naming NEC member Hannah Garden-Monheit as Director of Competition Council Policy, the White House said on Tuesday as it prepares to challenge new corporate sectors.

Argentina's economic activity fell 5.5% in May from a year earlier, the country's official statistics agency said on Tuesday, lower than the 3.2% expected by a Refinitiv poll as farming production slid.

Brazil is poised to export a record 18.3 million metric tons of soybeans, soymeal, corn and wheat in July, revised data from exporters association Anec showed on Tuesday, even though soybean shipment projections fell from last week.

Chocolate-making raw material cocoa's prices rose to the highest in more than 22 years in New York on Tuesday, only a few weeks after its prices jumped to the highest in 46 years in London, as traders and chocolate producers face restricted supplies.

Swiss food company Nestle said on Tuesday it would be locally sourcing over 40% of raw materials for a new processing plant in South Africa to offset supply chain challenges and cut costs.

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U.S. soybean futures rose to a one-month high on Tuesday on concerns about the risk of U.S. supplies tightening and unfavorable weather hurting yields, analysts said.

Cash-starved Cuba fell short of its export and import plans through June of this year amidst grave shortages linked to its dependence on food, fuel and inputs for agriculture and manufacture from abroad.

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