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Brazil soy harvest to speedup as rains shift south  SAO PAULO: The soybean harvest is due to pickup speed in the coming weeks in the early maturing center-west states of Brazil, the world's No. 2 producer of the oilseed, as rains shift to the parched south where moisture is still needed. The center-west is forecast to harvest a near-record crop this season due to excellent rain over the past weeks. States in the region such as No. 1 soy grower Mato Grosso and No. 4 Goias, are typically earliest to plant and harvest in Brazil. Rainfall on Mato Grosso soy fields ranged from 334 millimeters to 491 millimeters so far this month, that is 11 to 91 percent more than historical averages for the entire month of January, meteorologist Somar said in a daily soy weather bulletin. The heavy, incessant rains in some areas of the state were slowing early harvest work. Losses were negligible as not many areas were ready ...

ICE cocoa sinks ahead of Ivory Coast auction  NEW YORK/LONDON: ICE cocoa futures fell more than 5 percent on Monday, depressed by the prospect of hedge selling as top grower Ivory Coast announced it would start forward-selling its crop at an auction this week. Coffee futures also fell as a firmer dollar and overall weakness in commodity markets helped to spark sales while raw sugar futures extended their losses in choppy dealings . Ivory Coast has invited bids for an auction on Tuesday to launch ...
CBOT soy price to fall 4 percent in 2012           CHICAGO: Soybean prices are likely to fall for a second straight year by the end of 2012 if crop weather in the United States, the world's top producer, improves after a difficult season in 2011, a Reuters poll showed. Front-month soybean futures at the Chicago Board of Trade should finish 2012 at $11.47 a bushel, down about 4 percent from the end of 2011, a poll of 12 analysts showed. "I think we'll have periods where (prices) ...
US corn price seen at 3-year low in 2012           CHICAGO: US corn prices are expected to plummet 15 percent by the end of 2012 to their lowest levels in three years, a Reuters poll of 12 analysts showed, signaling that consumers around the world could find some relief from high food prices. It would be the biggest year-on-year percentage decline in nine years and would follow the surge in corn futures at the Chicago Board of Trade to an all-time high of $7.99-3/4 per bushel ...
Silver breaches 100-day average, aims higher           NEW YORK: Spot silver prices may extend their rally to $36 an ounce after three days of gains pushed prices up nearly $2 per ounce, or 6.25 percent, breaking a key resistance level. Silver surged above the 100-day moving average of $32.43 an ounce on Wednesday, en route to its 200-day moving average, which hovered at $35.49 an ounce on Friday. On Friday, the white metal reached a two-month high at $33.93 and finished at $33.88 ...
US blocks some orange juice imports over fungicide  WASHINGTON: US authorities on Friday seized nine shipments of orange juice from Brazil and Canada after their contents tested positive for an illegal fungicide. The Food and Drug Administration said the orange juice tested positive for carbendazim, a pesticide that is not legal for use on oranges in the United States but is approved in Brazil and some other countries. The FDA is testing samples of orange juice shipments from all countries and manufacturers that send such ...
Cocoa falls below 100-day moving averages, sugar down  NEW YORK/LONDON: Cocoa futures turned lower on Friday, falling below 100-day moving averages in London and New York after the US market had jumped to a 2-1/2-month high. Sugar and coffee also fell after data showed the US economy grew by less than expected in the fourth quarter. The US Commerce Department reported the economy grew at a 2.8 percent annual rate in the fourth quarter - its fastest in 1-1/2 years but more slowly than economists ...


Index Closing Chg%
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