05252016Wed
Last update: Wed, 25 May 2016 08am

Markets - Commodities

Markets - Commodities - Americas

Second crop in Brazil's top corn-growing state faces losses NOVA MUTUM: Brazil's winter corn crop in the top-producing state of Mato Grosso will likely face losses at a time when the country's corn stocks are so low, it has had to import the staple grain, analysts from the Agroconsult consultancy said. A crop trip through the state this week showed corn planted up to early February was in good shape, but farmers who delayed planting would likely see damage from an April drought. Observing one of the few fields that has the potential to yield a strong 150 60-kg bags per hectare, Agroconsult analyst Valmir Assarice said a year earlier the crop had been more uniform. Climate problems have limited yields to between 40 and 95 bags per hectare in some areas, he said. "The region of Nova Mutum is traditionally very productive but it's not. There was drought this year," Assarice said. The irregular yields observed in the ...

Markets - Commodities - Americas

US corn futures extend winning streak; soy, wheat ease CHICAGO: US corn futures firmed to their highest in nearly four weeks on Wednesday, closing in positive territory for the fifth day in a row on short-covering after weakening in overnight trading, traders said.Soybean futures eased on a round of profit-taking but closed well above session lows as speculators looking to extend a months-long rally sparked by concerns about the South American crop stepped into the market as it declined."The funds continue to defend their ...

Markets - Commodities - Americas

CBOT soybeans end lower on profit-taking CHICAGO: Chicago Board of Trade soybean futures fell on Wednesday on profit-taking andchart-based selling after the spot July contract failed to match last week's multi-month highs, traders said.Additional pressure from traders unwinding long soy/short corn spread positions.CBOT July soybean contract settled down 5 cents at $10.75-1/4 a bushel after reaching $10.88, its highest since May 12.Copyright Reuters, 2016

Markets - Commodities - Americas

Sugar steady on shrinking supply; coffee down, cocoa up NEW YORK/LONDON: Raw sugar prices were steady on Wednesday as investors worried about dwindling supplies, while white sugar prices declined and both robusta and arabica coffee fell on improved crop prospects.Cocoa rose on forecasts for poor mid-crops in top growing countries Ivory Coast and Ghana. Raw sugar settled barely changed from Tuesday's close, staying not far from 19-month highs hit last week. "The market just won't follow the script as written by the sugar bears," ...

Markets - Commodities - Middle East & Africa

Jordan buys 100,000 tonne feed barley in tender HAMBURG: Jordan's state grain buyer has bought 100,000 tonnes of animal feed barley to be sourced from optional origins in an international tender which closed on Wednesday, European traders said. It was purchased at $184.50 a tonne c&f, they said.The seller was Midgulf International and shipment is in the second half of October and first half of November, they said.Jordan's last reported barley purchase was of 100,000 tonnes on March 2.Copyright Reuters, 2016

Markets - Commodities - Middle East & Africa

Ivory Coast cocoa sector reserve fund up 58pc June 2015-Jan 2016 ABIDJAN: Ivory Coast's cocoa sector reserve fund rose 58 percent to 120 billion CFA francs ($206.47 million) between June 2015 and January 2016, according to a document from the government Coffee and Cocoa Council (CCC) seen by Reuters. The figure represents the highest level since the fund was established in 2012 to protect against a drop in the global cocoa price or in the event that a cocoa operator goes out of business.Cocoa beans and ...

Markets - Commodities - Middle East & Africa

Blumberg Grain to sign wheat silos deal with Algeria in weeks DUBAI: Blumberg Grain is looking to sign a deal within the coming weeks with Algeria's state grain agency OAIC to build high-tech wheat silos that can store up to 1 million tonnes of the grain. "We are looking to sign something within the next few weeks, before the start of Ramadan," David Blumberg, CEO of Blumberg Grain Middle East and North Africa, told Reuters on the sidelines of the Global Grain conference in Dubai.The new ...