Cocoa Prices Soar on Global Supply Concerns
September ICE NY cocoa (CCU26) today is up +337 (+7.26%), and July ICE London cocoa #7 (CAN26) is up +239 (+6.85%).
Markets
Cotton Faces Losses on the Wednesday Session
Cotton futures posted midweek losses of 187 to 247 points across the front months on Wednesday. Crude oil was down another $3.34/bbl to $69.87. The US dollar index was another $0.147 higher at $101.320.
SK Hynix surges 11% after filing for blockbuster Nasdaq listing
Shares of South Korean chip giant SK Hynix surged 11% on Thursday after the company said it plans to raise as much as $29.4 billion in a U.S. stock market listing.
TotalEnergies Takes 10% Stake in Abu Dhabi's Bab Gas Cap Project
French energy major TotalEnergies has signed an agreement to acquire a 10% interest in the Bab Gas Cap Concession in Abu Dhabi, strengthening its long-standing partnership with the Abu Dhabi National Oil Company (ADNOC)…
Cattle Rally on Wednesday
Live cattle future rallied on Wednesday, with contracts up $1.07 to $2.95 across the board. This morning’s Central Stockyards Fed Cattle Exchange online auction saw 519 head sold of the 2,652 head offered, at $186 live …
Hogs Holding Mixed on Wednesday
Lean hog futures closed Wednesday with mixed trade, with front months down 30 to 52 cents and deferred contracts 10 to 40 cents higher. USDA’s national base hog price was reported at $95.56 on Wednesday afternoon, down …
White House requests $87.6 billion supplemental spending for Iran war, farm aid
The White House on Wednesday asked Congress for $87.6 billion in supplemental spending to pay for the Iran war and a host of other things including aid to U.S. farmers, and Ebola response.
Identity theft victims face 'unconscionable' IRS delays, report says
Victims of identity theft face "unconscionable" delays at the Internal Revenue Service, a dynamic causing headaches and financial hardship for many Americans that comes amid steep staffing cuts at the federal agency, ac…
Buildings collapse as quakes rock Venezuela, 'high casualties' likely
Strong earthquakes struck west of Venezuela's capital on Wednesday afternoon, bringing down buildings in Caracas and causing scientists to estimate "high casualties and extensive damage" to the South American country.
Cocoa Prices Sharply Higher on Excessive Ivory Coast Rain
September ICE NY cocoa (CCU26) on Wednesday closed up +328 (+7.06%), and July ICE London cocoa #7 (CAN26) closed up +246 (+7.05%).
Corn Slip Lower Late on Wednesday
Corn futures posted losses of 1 to 2 ¾ cents in the front months, with deferred contracts steady to ¾ cent higher. The CmdtyView national average Cash Corn price was down 1 3/4 cents at $3.78 1/4.
Bitcoin falls back under $60,000, hitting its lowest level since October 2024
Bitcoin dropped on Wednesday to its lowest level since October 2024 amid a pullback in tech stocks, as the crypto bear market drags on.
Stocks Settle Mixed as Tech Weakness Weighs on the Broader Market
The S&P 500 Index ($SPX) (SPY) closed down -0.10%, the Dow Jones Industrial Average ($DOWI) (DIA) closed up +0.35%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -0.43%. September E-mini S&P futures (ESU26) fell -0…
Anthropic accuses Alibaba of campaign to 'brazenly' and 'illicitly' extract AI capabilities
Anthropic sent a letter to the U.S. Senate Committee on Banking, Housing, and Urban Affairs accusing the Chinese tech company Alibaba of "brazenly" and "illicitly" attempting to extract its artificial intelligence capab…
Qualcomm stock pops 15% after chipmaker almost doubles projection for 2029 non-handset revenue
Qualcomm shares jumped 15% in extended trading on Wednesday after the chipmaker said non-handset revenue in fiscal 2029 will be $40 billion, up from a prior forecast of $22 billion.
Micron stock jumps 15% as soaring prices from memory crunch lead to quadrupling of revenue
Micron's revenue more than quadrupled in the fiscal third quarter, the company said on Wednesday, as the memory maker continued to benefit from soaring demand tied to the artificial intelligence boom. The stock rose 15%…
Delayed Brazil Harvest and Tight Inventories Underpin Coffee Prices
September arabica coffee (KCU26) on Wednesday closed up +1.24 (+0.45%), and July ICE robusta coffee (RMN26) closed up +127 (+3.55%).
Cotton Falling Lower on Wednesday
Cotton futures are trading with contracts down 46 to 55 points at the midday portion of the Wednesday session. Crude oil is rallying $1.44/barrel, with the US dollar index down $0.081 to $98.630.
Trump meets defense CEOs as Iran operations strain U.S. missile stockpiles
The CEOs of Boeing, Lockheed Martin and Honeywell arrived at the White House on Wednesday for a meeting with President Donald Trump, as the administration presses major defense contractors to ramp up weapons production …
Federal Reserve says U.S. banks can withstand $708 billion in losses amid overhaul of capital rules
The biggest U.S. banks would be able to absorb more than $708 billion in losses in a severe global recession while continuing to lend to households and businesses, according to the Federal Reserve's annual stress test r…
Wheat Bouncing Higher on Wednesday
The wheat complex is trading with most contracts higher on Wednesday. Chicago SRW contracts are 7 to 8 cents. KC HRW futures are showing 5 to 6 ½ cent gains so far on Wednesday. MPLS spring wheat is mixed, with contract…
JPMorgan Chase unveils $50 billion buyback, Goldman Sachs raises dividend after Fed stress test
JPMorgan Chase on Wednesday unveiled a new $50 billion share repurchase program and raised its quarterly dividend after the Federal Reserve found the industry remained well capitalized under its annual stress test.
Western Midstream (WES) Declines More Than Market: Some Information for Investors
In the latest trading session, Western Midstream (WES) closed at $39.63, marking a -1.05% move from the previous day. This change lagged the S&P 500's daily loss of 0.29%. On the other hand, the Dow registered a loss of…
Traders are getting worried the chip stock bull market is cracking. How to protect yourself
Options traders were buying a lot of protection on the iShares Semiconductor ETF (SOXX) on Tuesday. Puts traded 1.5x the 20-day average volume, 74,468 contracts. Options markets are echoing what you are already seeing i…