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Agriculture and Allied: World


Bank of China has opened a commodity business centre in London, it said on Thursday, following the establishment of similar centres in Singapore and Shanghai. China is the world's biggest consumer of commodities, and many state-owned and privately-owned Chinese companies are active participants in international commodity trading.

Crude palm oil on the European vegetable oils market firmed a little on Friday, in sympathy with Malaysian palm oil futures, on expectations that monsoon rains could reduce production in December. "Crude palm oil was a tad higher, while refined palm oil was a touch easier because of a dip in the ringgit, which makes palm oil cheaper for players holding foreign currencies. Business was dull overall as the market hit the pre-Christmas holiday doldrums," one broker said.
ICE Canadian canola futures ended mixed on Friday as some investors took profits, but they registered their second straight weekly gain for the nearby contract. Forecasts for crop-boosting rains in South America weighed down soybeans, and pressure spilled over to canola.
European wheat prices extended a retreat on Friday from the previous session's 7-month high but remained underpinned by signals that Russia would curb exports following the collapse of its currency. There was further confirmation on Friday that Russia is restricting shipments, with the country's Association of Grain Exporters saying it had stopped buying grain for export.
US FOB Gulf soft red winter wheat values fell 10 cents after the close and added to the 23-cent losses in futures on Friday as exporters prepared offers for an overnight import tender from Egypt's GASC, traders said. News from Russia that grain exports would be blocked to tap down domestic food inflation during the rouble crisis triggered profit-taking in US wheat futures, which had been expecting the move this week.
Wheat futures on the Chicago Board of Trade fell more than 3 percent on Friday for their largest daily losses since July as investors locked in profits after Thursday's six-month high, traders said. Wheat snapped a six-session streak of gains but rose more than 4 percent for the week, the fourth consecutive week of higher prices. K.C. hard red winter wheat and MGEX spring wheat each fell roughly 2 percent.
Germany's winter wheat sown area for the 2015 harvest has been expanded by 2.8 percent to about 3.24 million hectares, the national statistics office said on Friday. Winter grains sowing of all types were expanded by 2.4 percent on the year to around 5.55 million hectares as farmers planted more wheat and barley and less rapeseed, it said.
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Index Closing Chg%
Arrow DJIA 17,804.80 0.15
Arrow Nasdaq 4,765.38 0.36
Arrow S&P 2,070.65 0.46
Arrow FTSE 6,545.27 1.23
Arrow DAX 9,786.96 0.25
Arrow CAC-40 4,241.65 0.18
Arrow Nikkei 17,621.40 2.39
Arrow H.Seng 23,116.63 1.25
Arrow Sensex 27,371.84 0.90

ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.309 bln
Exports $1.957 bln
Imports $4.266 bln
WeeklyDecember 18, 2014
Reserves $14.04 bln