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

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...
May 08, 2024 at 05:06 pm EDT
ICE Canada Weekly Outlook :  Uptrend Intact, Weather Conditions Being Watched

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...
May 08, 2024 at 05:06 pm EDT
Corn Futures Drop as Caution Rules Ahead of WASDE -- Daily Grain Highlights

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...
May 08, 2024 at 03:55 pm EDT
ICE Review :  Canola Weakens Wednesday

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...
May 08, 2024 at 03:40 pm EDT
US gas surplus will be eliminated before end of winter 2024/25:  Kemp

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...
May 08, 2024 at 01:04 pm EDT
Haitians brace for more rain after downpours kill 13

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...
May 03, 2024 at 03:41 pm EDT
The anomaly behind gold

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,...
Our Logo May 02, 2024 at 05:01 am EDT
Goldman Sachs Now Sees Dip to $84/Bbl for December Brent Crude -- OPIS

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...
April 30, 2024 at 12:00 pm EDT
Gold demand including OTC was at eight-year high in Q1, WGC says

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...
April 30, 2024 at 02:10 am EDT
Hedge funds retreat from oil as war risk fades:  Kemp

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...
April 29, 2024 at 09:00 pm EDT
AGS Week Ahead :  Positive Mood as Brazilian Real Gains Against Dollar Ahead of Busy Week

AGS Week Ahead : Positive Mood as Brazilian Real Gains Against Dollar Ahead of Busy Week

By Joe Hoppe A roundup of key agricultural commodity markets for the week April 29-May 3 by Dow Jones Newswires in Barcelona. GRAINS & OILSEEDS: The macro mood is positive as oil...
April 29, 2024 at 11:10 am EDT
'End of oil not in sight', OPEC Secretary General says in MEES article

'End of oil not in sight', OPEC Secretary General says in MEES article

The end of oil is not in sight, OPEC's top official said, as the pace of energy demand growth means that alternatives cannot replace it at the needed scale, and the focus should be on cutting...
April 26, 2024 at 01:36 pm EDT
China's transition hampered by flat-lining energy intensity:  Kemp

China's transition hampered by flat-lining energy intensity: Kemp

China's economy has become much less energy intensive over the last 40 years as its industries have modernised and the economy has shifted towards more service sector output. But energy...
April 26, 2024 at 12:28 pm EDT
ICE Canada Morning Comment :  Canola Building Upward Momentum

ICE Canada Morning Comment : Canola Building Upward Momentum

WINNIPEG, Manitoba--Intercontinental Exchange canola futures shed overnight losses Friday morning, turning higher with support from other vegetable oils. As modest increases in global crude oil...
April 26, 2024 at 10:03 am EDT
Citigroup Offers Bearish Take on Crude, Sees Easing of Geopolitical Risks -- OPIS

Citigroup Offers Bearish Take on Crude, Sees Easing of Geopolitical Risks -- OPIS

Citigroup analysts on Thursday called Brent crude's brief trip this month above $90/bbl a bullish knee-jerk price action. The price jump, which was fueled by concerns over a potential widening...
April 25, 2024 at 11:23 am EDT
China's strong iron ore imports diverge from weak steel output:  Russell

China's strong iron ore imports diverge from weak steel output: Russell

China's first quarter imports of iron ore and its domestic production of the steel raw material both rose strongly, but output of crude steel fell. This divergence sets up a dilemma that...
April 22, 2024 at 08:00 am EDT
USDA confirms cow-to-cow transmission a factor in bird flu spread

USDA confirms cow-to-cow transmission a factor in bird flu spread

The U.S. Department of Agriculture said this week that cow-to-cow transmission is a factor in the spread of bird flu in dairy herds, but it still does not know exactly how the virus is being moved...
April 19, 2024 at 04:57 pm EDT
ICE Review :  Canola Ends Up as Soy Provides Support

ICE Review : Canola Ends Up as Soy Provides Support

WINNIPEG, Manitoba--The ICE Futures canola market traded to both sides of unchanged on Friday, holding onto small gains at the final bell. Advances in the Chicago soy complex provided spillover...
April 19, 2024 at 03:36 pm EDT
Ample oil supplies limit impact of MidEast flare-up on prices

Ample oil supplies limit impact of MidEast flare-up on prices

Plentiful supplies of some of the biggest crude grades are limiting the impact on benchmark oil futures prices of conflict in the Middle East, according to analysts and traders. Brent...
April 19, 2024 at 12:50 pm EDT
Metals:  The tug-of-war continues between China and America

Metals: The tug-of-war continues between China and America

A new episode in the trade war between the United States and China was launched on Thursday. US President Joe Biden will shortly announce a sharp increase in tariffs on Chinese metal products. The...
Our Logo April 18, 2024 at 11:05 am EDT