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Mexican sugar producers deny imports threaten US industry WASHINGTON: Mexican sugar imports are no threat to the profitable, "well-heeled" and protected US sugar industry, Mexican producers said on Friday, rebuffing accusations that super-cheap imported sugar risks nearly $1 billion damage to the local industry.U.S sugar producers have accused Mexico of "dumping" subsidized sugar across the border in a complaint with the US International Trade Commission which could lead to duties on Mexican imports and spark retaliation against US exports.In Mexico's first formal response to the surprise charge, industry and government representatives said the country should not be blamed for a collapse in prices."Prices have simply returned to historical levels. This has happened the world over, a reality that sugar producers have to grapple with," said Juan Cortina, president of the National Mexican Sugar Chamber.Indeed, Mexico had deliberately diverted sugar exports away from the United States to relieve over-supply, in coordination with US authorities, he said.Lawyer Irwin Altschuler, from ...

ICE cotton rallies as dry skies stoke Texas supply worries NEW YORK: Cotton futures rallied on Wednesday, recovering the previous day's losses, as dry weather across major growing regions of Texas renewed U.S. supply worries.The most-active July cotton contract on ICE Futures U.S. rose 1.28 cent, or 1.4 percent, to settle at 92.57 cents a lb, while the spot May contract closed up 1.12 cents, or 1.2 percent, at 91.04 cents a lb.Clear skies over Texas, the top-producing U.S. state, ignited fresh buying as traders ...
Boosting West Coast exports seen key for moving bigger Canada crops WINNIPEG: Canada needs to invest in shipping more grains and oilseeds off the West Coast as harvests get larger, to avoid the massive transportation backlogs that followed last year's record crops, industry officials said on Wednesday.Last year, 19.3 million tonnes of grain moved in bulk and containers combined through Port Metro Vancouver, British Columbia, the country's biggest port, which connects Canadian commodities with Asian buyers, according to the port.But handling Canadian commodity volumes that are ...
CBOT corn falls most in two weeks on technical selling CHICAGO: US corn futures fell more than 1 percent on Wednesday, their biggest daily decline in two weeks, pressured by technical selling and forecasts for improved planting conditions in the US Midwest, traders said.The extended forecast for the region is mostly dry, which should allow farmers to plant corn after cool and wet weather resulted in a slow start to the planting season, said Kyle Tapley, meteorologist with MDA Weather Services.I think we will see ...
CBOT wheat falls 2 percent on profit-taking, rain forecast CHICAGO: Wheat futures on the Chicago Board of Trade fell about 2 percent on Wednesday after investors took profits following two sessions of steep gains and forecasts for light rains in the southern US Plains growing region, traders said.The wheat market remained underpinned by drought conditions in the Plains, with futures earlier in the session hitting a three-week high before turning lower."They (the Plains) might see a little bit of rain tomorrow, and then a ...
CBOT soybeans rally for third straight day CHICAGO: US soybean futures rose 1.2 percent on Wednesday, their third straight day of gains, on concerns about the tight US stocks situation and fresh fund buying, traders said.The front-month contract peaked at $15.22-3/4 a bushel, its highest on a continuous basis since hitting $15.26-1/4 on July 23.The May contract, hit a fresh high on Wednesday and closed above the high end of its 20-day Bollinger range for the first time since April 1.Traders noted ...
ICE Canada canola rises for third day WINNIPEG: ICE Canada canola futures rose on Wednesday for a third straight session, climbing on spillover support from stronger soybeans.Light buying by funds also seen supporting canola, which traded in thin volumes.Canola has also been lifted by rising cash prices, due to improving railway transportation in Western Canada - trader.May canola gained $2.40 at $473.30 per tonne.July rose $2.40 to $482.30 per tonne.May-July spread settled at a July premium of $9.00.Chicago May soybeans added 17-1/2 ...


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