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Corn futures extend losses as frost threat eases SYDNEY: US corn futures inched down on Tuesday as concerns over potential frost damage eased, extending losses into a sixth session out of seven amid expectations for a record crop.Wheat followed corn lower, while soybeans also edged down as cold weather forecasts weakened.Chicago Board of Trade December corn futures fell 0.4 percent to $3.47 a bushel, having closed down 2.2 percent the session before."The thinking now is that the cold snap is not severe enough to cause damage and will not be widespread," said Avtar Sandu, senior manager for commodities at Phillip Futures in Singapore.Concerns over the potential frost damage had driven the only gain in corn prices in the last seven sessions.The US Department of Agriculture is expected on Thursday to raise its estimate of corn yields from an already record-high of 167.4 bushels per acre (bpa).Reports of harvest getting under way in the southern Midwest also pressed the ...

Australia's largest wheat exporter scraps port access plan SYDNEY: CBH Group, Australia's largest wheat exporter, has scrapped plans for a new system to allocate port access at its grain terminals following complaints from some users that the scheme was unfair to new entrants to the market. Australian regulations require grower cooperative CBH Group to offer access at its four grain terminals in the state of Western Australia to rival exporters such as Cargill and Glencore.The company said in a statement on Tuesday that ...
LME copper steady, traders price in US rate hike delay SYDNEY: London copper was little changed on Monday with China trade thin due to a long weekend and expectations the Federal Reserve would delay an interest rate hike after Friday's weaker-than-expected U.S. jobs report.Easier policies announced by the European Central Bank last week and targeted easing by China has cushioned manufacturing industries by easing capital, but stuttering economic growth may yet stunt demand."More from the central banks, regardless of the numbers, will help drive prices," ...
LME copper drifts in low volumes; eyes on ECB SYDNEY: Copper drifted in low volume trade on Thursday as markets awaited fresh signals on whether the European Central Bank would act to shore up a faltering economy that could drag on world growth and metals demand.The European Central Bank is unlikely to take new policy action next week unless August inflation figures, due on Friday, show the euro zone sinking significantly towards deflation, ECB sources said. Looser policy from the euro zone central bank ...
Shanghai copper hits highest since early July as consumers restock SYDNEY: Shanghai copper hit its highest in around seven weeks on Monday, underpinned by steady consumer demand and after London prices logged the biggest weekly rise in 11 months last week. Copper prices are slowly recovering from near two-month lows hit mid-month, but given differing expectations of supply this year, analysts are mixed as to where prices will go from here.Mine supply is broadly expected to grow this year, but as miners dig deeper to ...
Shanghai copper edges lower towards key chart level SYDNEY: Shanghai copper dipped towards a major technical support level on Wednesday, with a break likely to trigger selling by momentum-based investors, as the market also eyed forecasts of improving supply. Global copper inventories are expected to rise as mine supply improves later in the year, although demand from makers of copper products is also expected to revive from its summer lull. "We should not be too bearish," said analyst Helen Lau at UOB-Kai Hian ...
Rio Tinto to review stake in closed Papua New Guinea copper mine MELBOURNE: Rio Tinto is set to decide on its stake in a long-dormant copper mine in Papua New Guinea's Bougainville after the passage of a new mining law on the island, with the company possibly pulling out of the project after a quarter of a century. The interim mining law converts Bougainville Copper Ltd's mining lease into an exploration lease.That can be converted to a mining lease if approved by the autonomous province's government, which ...

 



 
Index Closing Chg%
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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