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Corn dips as US harvest expected to top government outlook CHICAGO: US corn and soybean futures dipped on Wednesday on expectations that autumn harvests will exceed government forecasts due to favorable weather.Prices extended losses one day after the US Department of Agriculture issued a monthly report that projected smaller-than-expected production of both crops.Traders shrugged off the forecasts as too low because mild, wet weather has been nearly ideal for crops and farmers have reported gorgeous-looking crops in their fields.On Tuesday, the USDA pegged the US corn harvest at a record 14.032 billion bushels, below analysts' estimates of 14.253 billion, and 2014/15 ending stocks at 1.808 billion bushels, below expectations of 2.005 billion."We believe that in the end, the corn carryout will end up over 2 billion bushels and that the supply of grains around the world will severely limit any rallies," said Tomm Pfitzenmaier, an analyst with Summit Commodity Brokerage in Iowa.Chicago Board of Trade December corn slipped 0.8 percent ...

 FOB Gulf Grain-Soybean offers firm on rising demand, corn higher CHICAGO: US FOB Gulf soybean basis offers were steady to higher on Wednesday on good demand for new-crop supplies and tight autumn export capacity, while corn premiums were firm and wheat offers were steady, traders said.Tight loading capacity for post-harvest shipment from the Gulf underpinned new-crop soy and corn basis values. October capacity was nearly sold out and November capacity is about three-quarters sold out due to heavy forward sales of soybeans and soy products, ...
US coffee traders face delays as suppliers haggle over price NEW YORK: US coffee traders say they face months-long delays in getting shipments as suppliers from Central America to Asia push to revise contracts, the latest sign that the meteoric rally in arabica futures earlier in the year has disrupted trading. At least one supplier is demanding customers fork out more cash for beans that were contracted before arabica prices nearly doubled in the first few months of the year as a long drought scorched ...
Soybeans rise as strong export sales fuel supply concerns CHICAGO: US soybean futures rose on Thursday as stronger-than-expected export sales re-ignited concerns about dwindling old-crop supplies.Corn futures advanced for the first time in four sessions, while wheat gained for the second straight session, bouncing from a four-month low set early on Wednesday.Strong demand for US soybeans lifted prices as the US Department of Agriculture reported export sales last week were 774,800 tonnes, above estimates for 250,000 to 550,000 tonnes. Within that total, sales of ...
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 ...
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 ...

 



 
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ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyOctober
Trade Balance $-2.309 bln
Exports $1.957 bln
Imports $4.266 bln
WeeklyDecember 18, 2014
Reserves $14.04 bln