China 2010 soybean imports record 54.8m T
BEIJING, Jan 10 (Reuters) - China's soybean imports in 2010 totalled a record 54.8 million tonnes, up 28.8 percent from the same period last year, the General Administration of Customs said on Monday.
In December alone, the country imported 5.43 million tonnes of the crop, down 0.9 percent on the month but up 14 percent on the year.
US corn futures rise ahead of USDA report
SYDNEY, Jan 10 (Reuters) - U.S. corn, wheat and soybean futures rose on Monday ahead of a monthly U.S. Department of Agriculture (USDA) report due on Wednesday, which is expected to show a downward revisions in U.S. stockpiles and lower global production estimates.
Chicago Board of Trade (CBOT) corn for March delivery led the market, rising 0.9 percent to $6.00-1/4 per bushel, sitting close to its highest price since mid-2008.Corn broke through $6 per bushel on Friday but ended down 7 cents at $5.95 per bushel after a disappointing U.S. jobs report.
US oil prices up 1.5 pct, above $89/bbl on Alaska pipeline leak
SINGAPORE, Jan 10 (Reuters) - Oil surged almost $2 on Monday to within 2 cents of $90 a barrel after a leak shut an Alaskan pipeline that carries 12 percent of U.S. crude output.
"The refineries in PADD 5 might be able to obtain supplies from overseas. The longer term implication of such leaks would be mounting public scrutiny on the regulation on maintenance of oil production and distribution infrastructure," said Chen Xin Yi, associate vice president at Barclays Capital in Singapore.
China December crude oil imports down 1.9 pct on yr
BEIJING, Jan 10 (Reuters) - China, the world's second-largest crude buyer, imported 1.9 percent less crude in December from a year earlier at 4.91 million barrels per day (bpd), data showed, as refiners trimmed production as the cost of crude climbed.
December imports brought China's 2010 total crude imports to a record 239.31 million tonnes or 4.79 million bpd, up 17.5 percent from 2009, data from China's General Administration of Customs showed.
Alaska pipeline closed, no restart date set
ANCHORAGE, Alaska, Jan 9 (Reuters) - The Trans Alaska Pipeline was shut for a second day on Sunday because of a leak, with no indication of when it would reopen, sending oil prices higher on fears that a prolonged closure could restrict U.S. supplies.
The leak was discovered at the start of the pipeline in Prudhoe Bay early Saturday, forcing oil companies to cut production to 5 percent of their average 630,000 barrels per day.
Gold edges up on euro zone concerns, physical demand
SINGAPORE, Jan 10 (Reuters) - Spot gold edged higher on Monday, after losing 3.5 percent in the first week of 2011, as fears over the euro zone debt crisis buoyed appetite for bullion, and bargain hunting in the physical market provided support.
"For the immediate short term, gold is likely to be rangebound. Today's support is $1,360," said Ong Yi Ling, an analyst at Phillip Futures.
Euro stuck at 4-month low vs dollar; stocks flat
HONG KONG, Jan 10 (Reuters) - Mounting fears over sovereign debt in the euro zone kept the euro tethered to four-month lows against the dollar on Monday, with investors nervous ahead of a flurry of bond sales from the region's weaker states.
"Clearly the sovereign debt issue is still there and the market is quite happy to just sell euros," a trader at a U.S. investment bank said.
OIL: Oil surges towards $90 on Alaska pipeline shutdown
SINGAPORE, Jan 10 (Reuters) - Oil surged towards $90 on Monday after a leak shut an Alaskan pipeline that carries 12 percent of U.S. crude output.
The Trans Alaska Pipeline was shut down on Saturday with no indication of when it would reopen after a leak discovered at Prudhoe Bay, forcing oil companies to cut output to 5 percent of their daily average of 630,000 barrels.
COMMODITIES: 1st 2011 week down; oil, metals lose 4 pct
NEW YORK, Jan 7 (Reuters) - Oil and gold erased Friday's early gains and joined copper to end the week almost 4 percent lower after a strong dollar cut short the rally that gave commodities a late but sharp boost in 2010.
"It shows that the U.S. is still facing severe problems, and it will take a bit of time before it recovers to pre-crisis levels," said Daniel Briesemann, commodities analyst at Frankfurt-based Commerzbank.
GLOBAL MARKETS: US jobs report can't lift stocks; euro suffers
NEW YORK, Jan 7 (Reuters) - The euro fell to a nearly four-month low against the dollar on Friday after the United States reported a surprisingly strong decline in its unemployment rate, but disappointment over the number of jobs added drove Treasuries higher and weighed on stocks.
"You can't ignore the fact that, regardless of a disappointing payrolls outcome, U.S. growth is still looking better than Europe, and the euro sovereign stress is still there," said Richard Franulovich, senior currency strategist at Westpac in New York.
OPEC may hike oil output if price hit $110-official
KUWAIT, Jan 9 (Reuters) - Speculation could push oil prices to rise to $110 per barrel within a few weeks, which may prompt OPEC to raise production, a member of Kuwait's Supreme Petroleum Council (SPC) said on Sunday.
"Demand will increase slightly, but this increase in price is usually technical, due to analysts' forecasts and speculations," Imad al-Atiqi, a member of the country's highest oil policy body, told Reuters in a telephone interview.
Alaska pipeline shut down after leak discovered
ANCHORAGE, Alaska, Jan 8 (Reuters) - The Trans Alaska Pipeline shut down on Saturday after a leak was discovered at the intake pump station at Prudhoe Bay, constricting supply in one of the United States' key oil arteries.
Alyeska Pipeline Service Co., the operator of the 800-mile (1,280 kilometre) line which runs from the Prudhoe Bay oilfield to the tanker port of Valdez, said the leak was discovered Saturday morning. Oil producers are in the process of cutting output to 5 percent of the normal rate of around 630,000 barrels per day.
Oil Rises After Alaskan Pipeline Shutdown Halts 95% of North Slope Output (Bloomberg)
Oil climbed for the first time in three days after an Alaskan crude pipeline was shut following a leak and a government report showed a decline in the jobless rate in the U.S., the world’s biggest oil user.
China's Reserves Set for $2.8 Trillion Mean Tightening (Bloomberg)
China’s foreign-exchange reserves probably rose 4 percent to $2.76 trillion in the fourth quarter, adding to pressure on the central bank to drain cash from the economy and allow the yuan to strengthen.
US jobless claims near 2 1/2 yr low for past month
WASHINGTON, Jan 6 (Reuters) - New U.S. claims for jobless benefits moved higher last week, but a decline in the four-week average to a nearly 2-1/2-year low suggested the trend toward a better labor market remains intact.
Initial claims for state unemployment benefits increased 18,000 to a seasonally adjusted 409,000, the Labor Department said on Thursday, above economists' expectations for 400,000.
PRECIOUS-Gold slips 1 pct as dollar rises ahead of U.S. data
LONDON, Jan 7 (Reuters) - Gold slid 1 percent to a near six-week low in Europe on Friday as the dollar hit a four-month high versus the euro, but moves in the metal were muted ahead of keenly anticipated U.S. payrolls data later in the day.
Spot gold touched a low of $1,356.50 an ounce, its weakest since Nov. 29, and was bid at $1,359.05 an ounce at 1310 GMT against $1,371.15 late in New York on Thursday. The metal is on track for its worst weekly decline since May last year.
FOREX-Euro hits 4-mth low, dlr prices in strong US jobs
LONDON, Jan 7 (Reuters) - The dollar rose to a four-month high versus the euro and a one-month high against a basket of currencies on Friday ahead of U.S. jobs data, although dollar bulls risked disappointment if it falls short of expectations.
A sell-off in peripheral euro zone government bonds before a flurry of supply next week, an EU proposal that could force those who lend to banks to bear big losses should they fail and weaker-than-expected German retail sales numbers all combined to knock the single currency lower. The dollar rose against a basket of major currencies to 81.076, its highest since early December. The index has gained over 2 percent this week, benefiting from a slew of upbeat U.S. data including a report that showed a record number of private sector jobs were created in December.
Firmer dollar weighs on US wheat, corn
MANILA, Jan 7 (Reuters) - U.S. corn and wheat futures retreated for a second traight session as a stronger dollar blunted a rally at the start of the year, with corn on track to post its first weekly drop since November.
"The main influence we're looking at in terms of this morning's trade remains the currency market and the focus on the payrolls data," said Luke Mathews, commodity strategist at Commonwealth Bank of Australia.
Euro hits 4-mth low ahead of US jobs data
LONDON, Jan 7 (Reuters) - The euro fell to a four-month low against the dollar head of U.S. jobs data and next week's bond issues from euro zone peripheral countries, while world stocks and copper eased.
"The consensus estimates suggest that U.S. non-farm payroll figures will show a rise of about 175,000, but the whisper figure is far higher than that. I think you have some room for disappointment," said Koen De Leus, strategist at KBC Securities in Brussels.
Record high food prices stoke fears for economy
SINGAPORE/LONDON, Jan 6 (Reuters) - Record high food prices are moving to the top of policymaker agendas, driven by fears it could stoke inflation, protectionism and unrest and dent consumer demand in key emerging economies.
The United Nations' food agency (FAO) said on Wednesday that food prices hit a record high last month, above 2008 levels when riots broke out in countries as far afield as Egypt, Cameroon and Haiti.
No comments:
Post a Comment