Americas
Tuesday, 12 March 2013 00:37
322
CHICAGO: Chicago Board of Trade (CBOT) corn futures rose over one percent, posting advances for the third straight session on Monday on tight stocks and on spillover from the rally that followed the bullish corn supply numbers the US government released Friday, traders said."Corn is leading everything higher today and it's technical support after the USDA report. Managed money is buying after the aggressive fund liquidation that we've seen," said Shawn McCambridge, an analyst for Jefferies Bache.The US Department of Agriculture's March supply/demand report on Friday kept projected corn stocks unchanged at a 17-year low. The market had expected higher inventories."Corn was up from USDA's report Friday; that is being questioned by some, but it's all we have to work with for now," said Rich Nelson, director of research for Illinois-based analytical firm Allendale Inc.Wheat turned up for the third consecutive trading session on spillover buying from strong gains in ...
CHICAGO: Soybean spot basis bids firmed at river terminals around the US Midwest early on Monday, lifted by continued strong export demand and tight supplies at the US Gulf Coast, grain dealers said.* US soybean export premiums are the highest in two weeks as shipping delays during harvest in Brazil helped to extend the export season in the United States.* The lowest barge freight costs in a month along the Mississippi River also underpinned soy ...
WASHINGTON: The US Agriculture Department delivered few big surprises in its monthly US and world grain report, keeping US corn and soybean supplies tight but raising world soybean and wheat stockpiles from a month ago. The Argentine soybean and corn crops were both lowered by drought, USDA said. Projected soybean output was trimmed by 3 percent, to 51.5 million tonnes, and the corn crop by 2 percent, to 26.5 million tonnes. Analysts had expected ...
BOGOTA: Striking Colombian coffee growers who have blocked roads for 11 days ended their protest Friday after winning a government subsidy to offset lower prices for their product on international markets.
"We are going back to our land to continue producing the best coffee in the world," said Guillermo Gaviria, a protest leader, after the deal was signed with the government.
The government concession is a subsidy of up to the equivalent of $80 per 125 kilos ...
NEW YORK: Cotton rose for a sixth straight session on Tuesday, after reaching a 10-month high, as mill buying continued even in the face of a recent bull run driven by speculative investment.
The most-active May cotton contract on ICE Futures US gained 0.72 cent, or 0.8 percent, to settle at 86.98 cents per pound, after reaching 87.45 cents, the highest price since May 8, 2012.
Tuesday's close marked cotton's most extended series of daily gains since ...
CALGARY: Canada invited oil and gas companies on Monday to nominate drilling lands in the country's Arctic archipelago for inclusion in a future property auction and said one small oil field that was discovered in the tax-dollar-fueled exploration rush that swept the region 40 years ago will also be up for grabs.
The government's nomination process asks oil companies to select blocks of land they would like to see posted for bidding in a future auction.
The ...
CHICAGO: US wheat futures fell for the first time in five sessions on Monday as melting snow eased concerns about persistent dryness in key growing areas of the Great Plains.Warming temperatures in the drought-stricken US Plains are melting piles of snow that accumulated during two blizzards in late February, said Don Keeney, meteorologist for MDA EarthSat Weather.Dry weather linked to the worst US drought in more than half a century has stressed hard red winter ...
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