Americas
Friday, 31 May 2013 19:33
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WASHINGTON/HAMBURG: Private exporters reported an unusual sale of 30,000 tonnes of US soybean oil to Germany for delivery in the 2012/13 marketing year, the US Agriculture Department said on Friday.Until now, US sales to Germany for the current year, which ends Sept. 30., have been negligible at just 108 tonnes."It is kind of unusual to see a sale of this size to Germany," said Anne Frick, oilseeds analyst for Jefferies Bache in New York."We know their rapeseed and sunseed production was down so my initial thought is the sale was done to make up for a shortfall of those harvests. This may have been done to tide them over."Chicago soyoil futures rose on the news.The single sale also dwarfed total US soyoil sales for the week ended May 23, reported by USDA on Friday, which were just 2,900 tonnes, mostly to Mexico.European traders linked Germany's purchase to a slow start ...
CHICAGO: Chicago Board of Trade wheat futures fell on Thursday on concerns about the fate of US wheat exports following the discovery of an unapproved genetically modified (GMO) wheat variety in the US Pacific Northwest (PNW).Japan, the top importer of US wheat, canceled a tender to buy western white wheat after the US government announced on Wednesday that it had found GMO wheat sprouting on an Oregon farm."At this point, the key feature might be ...
NEW YORK: ICE cotton touched its lowest price since late January and extended its longest slide in three years, as technical weakness drove long liquidation and signaled a slowdown to a four-month, speculator-driven rally, dealers said.The most active July cotton contract on ICE Futures US slipped to 79.87 cents a lb, the lowest level for the front-month contract in four months.The contract settled down 0.57 cent, or 0.7 percent, at 80.13 cents per lb, as ...
NEW YORK/LONDON: Gold rose to a two-week high on Thursday buoyed by a fall in the dollar after weaker-than-expected US economic data boosted prospects the Federal Reserve will keep its monetary stimulus in place.Speculation the US central bank could start reining in its $85 billion in monthly asset purchases as early as the summer had sparked a sell-off in gold and a rally in the dollar last week.Prices rose over 1.5 percent to $1,417.81 an ...
CHICAGO: Chicago Board of Trade (CBOT) soybean futures fell on Wednesday following news that China, the world's largest buyer of soybeans, had cancelled an order for US soy.Corn was mixed, with old-crop falling on profit-taking. But new-crop December rose for the fifth day in a row, hitting a one-month high as wet weather hampered US corn plantings, threatening yield and production prospects.Wheat rose on short-covering and mounting concern that portions of the US wheat crop ...
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