Asia stocks fall, dollar rises as risky positions cut
SINGAPORE, May 4 (Reuters) - Asian shares fell and the U.S. dollar rose on Wednesday, with falling commodity prices spooking investors and causing a broad pullback in risk taking.
"Risky assets are having a respite, having advanced rather quickly in more recent weeks," said Andy Ji, a currency strategist and economist with Commonwealth Bank of Australia in Singapore.
Indonesia's Astra Agro says palm oil output rises in Q1
JAKARTA, May 4 (Reuters) - Astra Agro Lestari produced 275,100 tonnes of crude palm oil (CPO) during the first quarter, up 25.7 percent versus the same period last year, Indonesia's largest listed plantation firm said on Wednesday.
The firm had a total of 263,608 hectares of palm oil plantations by the end of the first quarter, it said in a statement to Indonesia's Stock Exchange.
OPEC oil output hits 23-month low in April
LONDON, May 3 (Reuters) - OPEC output fell to a 23-month low in April as extra oil from Saudi Arabia and Nigeria did not make up for supplies lost due to fighting in Libya and oilfield maintenance in Angola, a Reuters survey found on Tuesday.
Supply from all 12 members of the Organization of the Petroleum Exporting Countries averaged 28.42 million barrels per day (bpd), down from a revised 28.48 million bpd in March, the survey of oil companies, OPEC officials and analysts found.
U.S. corn gains as focus returns to tight supplies
SYDNEY, May 4 (Reuters) - Nearby U.S. corn futures posted modest gains in early Asian trade on Wednesday as focus returned to tight old crop supplies, while the December harvest month contract held firm on slow planting progress in the U.S. corn belt.
Corn's rise in early trade followed a 1.5 percent fall on Tuesday as the dollar rose and oil prices dropped more than 2 percent.
Ivorian cocoa exports to start soon, midcrop worry
ABIDJAN, May 3 (Reuters) - Ivory Coast cocoa exports are likely to resume by Friday, but forecasts for its mid-crop harvest may be cut by a third from the expected 300,000 tonnes over security and logistics concerns in the hinterland.
Cocoa exporters said on Tuesday they were making final preparations to resume exports after resolving a row with the new government of president Alassane Ouattara last week over taxes.
Ghana poised to crush cocoa output target
ACCRA, May 3 (Reuters) - Ghana's cocoa output is running more than 50 percent higher than a year ago, easing the market impact of delayed shipments from neighbouring Ivory Coast and putting the country on track to beat its full-season target.
Purchases declared by private buyers to industry regulator Cocobod -- the best reflection of output from the world's No. 2 grower -- hit 797,847 tonnes by April 21 since the start of the season in October, according to official data seen on Tuesday.
Dry weather still significant concern for EU wheat
LONDON, May 3 (Reuters) - Dry weather threatens to reduce wheat yields in parts of western Europe with the need for showers getting more urgent, crop analysts said on Tuesday.
"Concerns are starting to grow, certainly as we are expecting to see another largely dry week ahead of us. It is likely to impact yields," Jack Watts, analyst with the Home Grown Cereals Authority said, referring to crops in Britain, the European Union's third largest wheat producer.
Kazakhs cut wheat export forecast to 5.5 mln T
ASTANA, May 3 (Reuters) - Kazakhstan has cut its wheat export forecast for the current marketing year to around 5.5 million tonnes, its second downward revision since March, the newly appointed agriculture minister said on Tuesday.
Asylzhan Mamytbekov, former chairman of state agricultural holding Kazagro, did not give a reason for the forecast decline in shipments from Kazakhstan, the world's seventh-largest wheat exporter. The ministry's previous forecast was 6 million tonnes.
Philippines sees record dry season rice harvest
MANILA, May 3 (Reuters) - The Philippines' rice harvest in the current dry crop season may touch record high levels due to early rains in the first quarter, putting less pressure on the government to import more of the staple, Agriculture Secretary Proceso Alcala said.
Manila said last month it expects to surpass its rice production forecast of 7.6 million tonnes in the first half, which covers the dry crop period. It estimates total production this year to reach a record 17.46 million tonnes, more than 10 percent higher than last year's output.
Shanghai copper falls on dollar rebound, global outlook
SINGAPORE, May 4 (Reuters) - Shanghai and London copper fell on Wednesday, weighed down by fears of further rebounds in the dollar and global economic uncertainty, shrugging off comments by a China central bank official that inflation will moderate in the second half.
"Uncertainties that the dollar may rebound are putting pressure on commodity prices," China Futures Co analyst Yang Jun said.
US silver headed for third day of loss, dragging down gold
SINGAPORE, May 4 (Reuters) - COMEX silver dropped 3 percent on Wednesday, down for a third straight session, and gold faltered as precious metals came under pressure to correct after a strong rally in the last few weeks.
"On the way up, it (silver) was too fast and now we are seeing a general liquidation of long positions," said a Singapore-based trader.
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