Daily Archives

October 19, 2013

Research on Crops

Our works across a range of staple food crops on which world food supply depends, and especially staple crops important in the food economies of poorer nations. Our research aims to make supplies of basic foods in developing countries dependable and to lessen poverty. Improving the productivity and the quality of the crops farmers grow and the ways they grow them helps farmers in developing countries in several ways. They produce more, and what they produce has better quality and is more…

Shanghai copper up

October 19, 2013 The most-traded January copper contract on the Shanghai Futures Exchange closed up 0.3 percent at 52,250 yuan ($8,600) a tonne on Friday, supported by data showing China's economy grew as forecast in the third quarter, although concerns its upward momentum may be short-lived limited price gains. China's economy grew 7.8 percent in July-September, its fastest pace this year, as firmer foreign and domestic demand lifted factory production and retail sales. China is the…

Copper slightly up

October 19, 2013 Copper prices rose slightly on Friday, supported by data showing China's economy had expanded as forecast in the third quarter, although concerns that the faster growth may be temporary limited gains. China's economy grew 7.8 percent in the third quarter, its fastest pace this year, as strengthening foreign and domestic demand helped factory production and retail sales. China is the biggest consumer of copper, accounting for 40 percent of world demand. Benchmark…

UK gold exports to Switzerland surge as investors sell ETFs

October 19, 2013 A surge in gold exports from the United Kingdom to Switzerland this year may largely be the result of metal sold out of exchange-traded funds being shipped for re-refining before making its way to Asia, according to Australian bank Macquarie. UK gold exports to Switzerland, Europe's major bullion refining hub, jumped to 1,016.3 tonnes in the first eight months of this year, data from European Union statistics agency Eurostat shows, from 85.1 tonnes in the same period of…

US MIDDAY: gold drops

October 19, 2013 Gold fell on Friday as investors took profits after the previous session's 3 percent rally on expectations the partial US government shutdown will lead the Federal Reserve to postpone tapering of its bond-buying stimulus. The precious metal was up more than 3 percent for the week, its biggest weekly gain in two months. Heavy short covering boosted gold prices after the Congress clinched an 11th-hour deal earlier this week to pull the world's biggest economy back from the…

Ivory Coast cocoa prices up on supply concerns

October 19, 2013 Concern that Ivory Coast's main crop cocoa harvest could tail off early provoking a supply crunch has fuelled strong competition among major grinders and pushed up port and farmer prices in the world's top grower. Ivory Coast's 2013/14 cocoa season, its second under a sweeping reform of the sector, opened on October 2 with the government fixing a guaranteed minimum farmgate price of 750 CFA francs ($1.54) per kg for the October-to-March main crop. It also imposed limits on…

Vietnam’s 2013-14 coffee output to fall

October 19, 2013 Coffee output from the 2013/2014 harvest in Daklak, Vietnam's largest growing province, could fall around 3 percent from the previous crop year to 400,000 tonnes, or 6.67 million bags, a provincial report said on Wednesday. Daklak accounts for about a third of output from the world's largest robusta producer and that forecast decline in output is far below the 15 percent loss estimated for the country's entire 2013/2014 crop by the Vietnam Coffee and Cocoa Association, an…

Tokyo rubber futures dip

October 19, 2013 Benchmark Tokyo rubber futures fell for a third day on Friday as economic data from China failed to support the market that was weighed down by a higher yen. Rubber futures, however, ended with a weekly gain of about 1 percent as Washington averted an historic debt default. The benchmark rubber contract on the Tokyo Commodity Exchange (TOCOM) for March delivery dropped 1.4 yen, or 0.5 percent, to settle at 267.4 yen ($2.74) per kg, after erasing some of its earlier…

US Midwest corn, soya bids mostly steady

October 19, 2013 Spot basis bids for corn and soyabeans were largely unchanged across the US Midwest on Wednesday with pressure from the harvest offset by a slow pace of new farmer sales, dealers said. Many growers in the central part of the region were finishing their soyabean harvest and moving back to corn fields. Yield results continued to come in mostly better than expected and farmers were delivering supplies to meet existing contracts. But with futures for each commodity…

China buys up to 300,000 tonnes US corn

October 19, 2013 China, the world's second-largest corn consumer, has bought as much as 300,000 tonnes of the grain from the United States this week, trade sources said on Wednesday, and further purchases are expected because US prices are cheap. Four or five cargoes were bought for shipment from March to May 2014, priced at about $260 per tonne CIF, or about 1,900 yuan ($310) per tonne after taxes, one trade source said. That price is about 25 percent cheaper than domestic corn…

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