Close: London Session | Forex, Metals, Oil, Agriculture October 21, 2022



Muddy harvest | Australian wheat farmers are bracing for a grueling and muddy harvest due to rains as they prepare to gather a third straight bumper crop. More coffee | Top robusta-coffee grower Vietnam is heading for a larger crop this season, adding to global supply and increasing pressure on prices. In Egypt, private bakers raised bread prices after some flour mills ran out of wheat because it was stranded at customs.


That has lifted the dollar, with Bloomberg s gauge for the greenback gaining 0.4%.


Australia can t find alternative markets to match China for commodities such as iron ore, liquefied natural gas, and wool. Mordashov, the biggest shareholder in steelmaker Severstal, was sanctioned by the European Union, the UK and US following Russia s invasion of Ukraine.


For years, oil and natural gas has been cheaper to produce and easier to sell. Araque, a former engineer for oil services company Schlumberger, says that s because it hasn t made financial sense. Palm outlook | Palm-oil prices could stay relatively elevated in 2023 as supply growth will probably continue to slow, Bloomberg Intelligence says. Photographer: Michael Nagle/Bloomberg Nigeria is, most of the time, Africa s biggest oil producer. It won t help you find cheap gasoline, and you can t even access the service in most states.
The 465-foot (142-meter) Nord was previously docked in Vladivostok, according to vessel data.

United States

President Joe B View in browser The US weighs more tech restrictions on China, Twitter shares swoon and the race for the UK s next prime minister takes off. His comments are backed by news that the US and Canada will support formal negotiations over possible climate reparations. With more than half the Arctic coastline belonging to Russia, the region is a growing security concern for the US, which has a foothold through Alaska. Down note US equity futures were downbeat to end the week, with S&P contracts down 0.6% as of 6:20 a.m. in New York and Nasdaq 100 falling 0.9%.


If implemented, the measures would follow separate restrictions announced earlier this month aimed at stunting Beijing s ability to deploy cutting-edge semiconductors in weapons and surveillance systems.


After hours of intense negotiations, the leaders asked the EU s executive arm to propose a price corridor to immediately limit episodes of excessive gas prices. A new prime minister could be selected as soon as Monday, with Rishi Sunak, Penny Mourdant and even former leader Boris Johnson all in the frame. What the gilt market and the pound will make of BoJo II: The Comeback remains to be seen.