Algeria buys durum, milling wheat
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- Created on Sunday, 12 May 2013 17:57
- Written by Business Recorder
Algeria's state grains agency OAIC bought 175,000 tonnes of optional-origin durum wheat for shipment in July in a tender earlier this week, European traders said on Friday. The price paid was around $370 a tonne, including cost and freight, traders said, adding this suggested the durum would be sourced from Mexico. In a separate tender on Thursday on a public holiday in much of Europe, OAIC bought
Commodities trade mixed; oil hit by rising US reserves
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- Created on Sunday, 12 May 2013 17:53
- Written by Business Recorder
Global commodities traded with mixed results this week, with oil dented by record-high US crude reserves and the strong dollar, while investors braced for the results of a two-day finance meeting of the Group of Seven (G7) highly industrialised economies. Some commodities gained ground after positive economic data out of the United States and Germany, which also helped push the US and Frankfurt st
Soyabean export premiums hold steady
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- Created on Sunday, 12 May 2013 17:49
- Written by Business Recorder
Export premiums for US soyabeans shipped from the Gulf Coast held mostly steady on Friday in quiet trading as less expensive South American supplies lessened demand for US soyabeans, traders said. Demand for new-crop US soyabeans was muted on Friday following routine purchases by China earlier in the week for October and November shipment. Traders could not confirm further talk of South American s
Canadian canola futures jump - 12 May 2013
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- Created on Sunday, 12 May 2013 17:49
- Written by Business Recorder
ICE Canadian old-crop canola futures jumped on Friday, due to a lack of farmer selling amid thinning supplies, while the new-crop November slipped. For the week, the most-active July contract gained 2.8 percent. Most-recent Canadian Grain Commission statistics, released on Friday, showed a large drop in farmer deliveries week over week and commercial canola stocks of 891,300 tonnes, down 11.5 perc
Indian oilseeds, soyaoil futures rise
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- Created on Sunday, 12 May 2013 17:46
- Written by Business Recorder
Indian oilseeds and soyaoil futures rose on Friday tracking gains in overseas prices and on a weak rupee, though subdued exports demand for oilmeal and ample supplies of edible oils weighed on sentiment. At 0835 GMT, the benchmark Malaysian palm oil contract was up 1.62 percent at 2,324 ringgit per tonne, while US soyabeans were higher 0.18 percent at $14.94 per bushel, after rising 0.8 percent in
Sudan's biggest sugar firm plans biofuel expansion
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- Created on Sunday, 12 May 2013 17:45
- Written by Business Recorder
Kenana, Sudan's biggest sugar producer, plans to more than triple its ethanol output within two years to become a major biofuel exporter and intends to make a stock market offering in South Africa, its managing director said. Kenana, which is mainly owned by the governments of Kuwait, Saudi Arabia and Sudan, is aiming to more than double its annual sugar output to 1 million tonnes by 2015 as the f
Dry weather favours Brazil sugar production, exports
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- Created on Sunday, 12 May 2013 17:43
- Written by Business Recorder
Dry, cool weather that started in mid-April and is expected to continue through May over Brazil's main sugar cane region will favour crushing operations at mills and allow ships to load and carry off sugar uninterrupted, local forecaster Somar said. Designation of ships is well underway to carry the biggest amount in decades of ICE futures exchange deliverable sugar against the May contract to rec
Indian sugar futures steady
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- Created on Sunday, 12 May 2013 17:42
- Written by Business Recorder
Indian sugar futures were treading water on Friday as surplus supplies outweighed an improvement in demand from bulk consumers due to the ongoing summer season. The key June contract on the National Commodity and Derivatives Exchange was down 0.07 percent at 3,028 rupees per 100 kg at 0922 GMT, after hitting a three-week high of 3,044 rupees in the previous session. June futures hit a contract low