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Prices advance on outlook for decline in US plantings CHICAGO: US grain and soybean futures jumped on Thursday after the Agriculture Department projected farmers will plant fewer acres than some traders expected in response to falling prices.The US Department of Agriculture, in data released at an annual Agricultural Outlook conference, projected 2015-16 soybean plantings at 83.5 million acres, down slightly from 83.7 million in 2014-15. The government estimated US corn plantings at 89 million acres, down from 90.6 million in 2014-15.Traders had widely been expecting farmers to increase soybean plantings in an attempt to maximize earnings in the face of a weak corn market."Surprisingly, soybean planted acres are forecast to decline," JP Morgan analyst Ann Duignan said. "This forecast is relatively bullish for soybean futures prices, which have been depressed in recent weeks amid a constant news flow of oversupply across major producing regions."Chicago Board of Trade March soybeans gained 1.6 percent to $10.12 a bushel by 10:55 a.m. ...

Wheat steady, early gains pared as US exports deemed too expensive SYDNEY: US wheat futures held steady on Thursday after dropping back from early gains as US supplies were seen as too expensive. Trading was light with many Asian markets closed.Corn rose for the third time in four sessions, while soybeans were little changed.Chicago Board of Trade March wheat futures were flat at $5.27-3/4 a bushel, after having edged slightly higher in early trading. Wheat had closed down 1.3 percent on Wednesday.Traders and analysts said prices ...
Wheat tumbles 2pc after Egypt cancels US tender CHICAGO: US wheat futures tumbled as much as 2 percent on Wednesday, heading for their biggest daily losses in two weeks after top global wheat importer Egypt cancelled a tender seeking supplies from the United States.Overbought technical conditions also pressured prices, with corn and soybeans each falling more than 1 percent at the Chicago Board of Trade."When you have an oversupply or a strong supply, the path of least resistance is lower," Jefferies Bache analyst ...
Arabicas fall to 1-year low, raw sugar falls near 15 cents NEW YORK/LONDON: Arabica coffee futures on ICE extended losses and fell to a one-year low in heavy chart-based selling on Wednesday, while raw sugar futures turned lower but remained near the psychological 15-cent level as top grower Brazil returned to the market.New York cocoa rose for the 11th straight session to a five-week high on a combination of short-covering and fresh buying.Arabica coffee futures on ICE fell for the third straight day after sliding as ...
CBOT soybeans set back after rally CHICAGO: US soybean futures fell on Wednesday, pressured by a round of profit-taking after prices surged through the key $10 a bushel level on Tuesday, traders said. Analysts and traders were expecting the US Agriculture Department to forecast huge domestic soybean plantings, which will add even more soy to the already ample global balance sheet, at its annual outlook conference on Thursday.Soymeal and soyoil futures also fell. Dealers said the cash market for soyoil had ...
CBOT wheat falls after Egypt cancels tender CHICAGO: Chicago Board of Trade wheat fell 1.2 percent on Wednesday after Egypt backed out of plans to import U.S. supplies, traders said.K.C. hard red winter wheat shed 2.5 percent and MGEX spring wheat dropped 1.2 percent.Egypt's state grain buyer canceled a tender to buy U.S. wheat due to high prices.The move underlined how U.S. wheat was not competitive with offerings from other countries to win business from overseas buyers.Some concerns about sub-zero temperatures damaging ...
CBOT corn down most in 3 weeks on profit-taking, technicals CHICAGO: Corn futures on the Chicago Board of Trade slumped 1.5 percent on Wednesday for their biggest daily losses in three weeks, pressured by profit-taking and technical selling, traders said.Most-active CBOT March corn rose to a one-week high in the previous session largely on the back of gains in soybeans and wheat futures. Each market was lower Wednesday, with traders citing plentiful global grain supplies and technically overbought conditions in futures.Investors also continued to roll ...

 



 
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ICT 2014


Annual2013/14
Foreign Debt $61.805bn
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