A look at Tuesday morning’s market action
said a deal should be announced within weeks and would create one of the world’s biggest handlers of grains and oilseeds, with the reach and heft to compete with industry leaders Cargill Inc. and Arch-Daniels-Midland Co., both based in the U.S. Midwest agriculture belt.
In Asia, Japan’s Nikkei finished up 0.30 per cent. Hong Kong’s Hang Seng added 0.24 per cent, ending a four-day losing streak.Crude prices were down as traders await a vote on the U.S. debt deal and look ahead to next week’s OPEC+ meeting. Saudi Arabia has hinted that output cuts are possible at next week’s meeting, although Russia has suggested that production is likely to remain unchanged.“While OPEC could remain highly compliant with its threat to cut, the ongoing dynamic concerning Russian supply is a bearish risk for oil.”
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