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Dry weather hasten Brazil sugar output, hurts maturing crop: Unica SAO PAULO: Brazil's main center-south cane crop produced 2.33 million tonnes of sugar in the first half of June, on the high end of market expectations and up from 2.03 million tonnes in late May, the main sugar and ethanol lobby Unica said on Wednesday.In its biweekly harvest report, Unica said clear weather over the past few weeks had helped sugar output in the center-south, which surpassed last year's output of 1.80 million tonnes during the first fortnight of June by almost 30 percent.Markets had estimated production in early June from the world's largest exporter of sugar at between 2 million and 2.3 million tonnes. Sugar futures sank to 17.53 cents/lb after the initial output numbers from Unica but recovered to settle at 17.7 cents/lb, slightly firmer than before Unica's report.Unica said lack of rain was hurting development of cane due to mature later this year. Rainfall over the past ...

US corn, soy crop rates dip after week of heavy rains CHICAGO: US corn and soybean crop ratings fell slightly in the past week after heavy rains in the Corn Belt caused some crop fields to flood and damaged young plants but conditions remain historically high, the government said in its weekly crop report on Monday."This confirms that even with our concerns about excess moisture we still have a tremendous crop on hand," said Rich Nelson, an analyst with Illinois-based farm advisory Allendale Inc. Crop conditions ...
Copper market on alert for LME inventory influx amid China probe NEW YORK: Thousands of tonnes of "invisible" copper now being hurriedly ushered out of some Chinese warehouses may remain out of sight for months longer, as banks and traders seeking safer havens for their metal opt out of the London Metal Exchange network.The fear of fraudulent financing at some storage depots in Qingdao port has prompted some banks and merchants to cut credit for financing deals or relocate metal to better-known warehousing firms, including some ...
Corn, wheat firm ahead of USDA report; soybeans sag CHICAGO: U.S. corn futures rose on Wednesday, with the front July contract on the Chicago Board of Trade rebounding from a four-month low as traders adjusted positions ahead of monthly U.S. government forecasts.Wheat firmed ahead of the U.S. Department of Agriculture's supply/demand reports, while soybean futures fell on softer cash values as demand from top buyer China slowed.At the CBOT as of 10:20 a.m. CDT (1520 GMT), July corn was up 3 cents at $4.48-1/2 ...
Coffee up about 4pc on Brazil crop worries; sugar down NEW YORK/LONDON: Coffee rallied on Wednesday, with benchmark arabica on track for its highest gain in nearly a month and robusta its biggest advance since February as traders worried that drought would hurt Brazilian output.Sugar fell for a second straight day after brisk cane crushing, also in Brazil, suggested little worries for supply and weighed on the sweetener's raw and white markets.Cocoa edged higher, underpinned by steadily rising consumption and commercial buyers' hedging.In coffee, New ...
Brazil government raises wheat crop forecast, trims soy SAO PAULO: Brazil's 2014 wheat crop will likely yield 7.37 million tonnes, up 33 percent from last year as new fields are sown, the Agriculture Ministry's crop supply agency Conab said on Tuesday.Farmers are expected to increase area planted with wheat by 18.4 percent from last year following global supply concerns due in part to strife in Ukraine. But climate conditions might not warrant a repeat of last season's record yields, Conab said.Conab had forecast ...
Global cocoa demand growth to slow even as grinding soars NEW YORK: Global demand for cocoa will grow at a slower pace than many in the industry expect, even as grinding rates hit fresh record highs, an executive at Blommer Chocolate Co, North America's No. 1 cocoa grinder, said on Tuesday.Jeff Rasinski, corporate director of procurement for Blommer, estimated global cocoa demand will rise 2.1 percent to 2.2 percent in 2014, down from the company's estimate of a 2.5 percent to 3 percent rise in ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
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