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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 in South Korea and elsewhere that are part of the LME's vast system.The shift away from China's opaque warehouses fueled concern among traders of a potential rise in stockpiles warranted in the LME network, data that would likely add pressure to sliding prices. As much as 300,000 tonnes of copper, nearly twice the entire inventory held in the LME's global warehouses, could be released by September, according to analysts at Macquarie.But it is far from ...

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 ...
US corn conditions slip in the past week, surprising analysts CHICAGO: Weekly US corn conditions declined slightly in the past week, surprising many traders who expected the government to keep ratings steady or raise them given nearly ideal crop weather across the central Midwest, analysts said on Monday. The US Department of Agriculture rated 75 percent of the corn crop good to excellent as of Sunday, down 1 percentage point from a week ago. Analysts polled by Reuters expected USDA to rate 76 percent of ...
Colombia May coffee output up 12pc on year, exports slip BOGOTA: Colombia produced 1.05 million 60-kg bags of arabica coffee in May, up 12 percent from the same month last year, the national coffee growers' federation said on Wednesday, while exports slipped 3 percent to 831,000 bags.Colombia's mild arabica coffee output is rebounding after a run of poor harvests caused by roya, or leaf rust fungus, and poor weather. The farmer-funded federation did not give a reason for the small year-on-year decline in exports.The federation ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJuly-June
Trade Balance $-19.98 bln
Exports $25.13 bln
Imports $45.11 bln
WeeklyOctober 27, 2014
Reserves $13.464 bln