Stocks, euro climb as Greece votes for austerity
HONG KONG, June 30 (Reuters) - Asian stocks climbed on Thursday as investors breathed a sigh of relief after Greece moved a step closer to avoiding a default by adopting harsh austerity measures, a move that boosted the euro and sparked a broad rebound in risky assets.
"Most investors are cautious, if not outright negative, and light on risk," said Goldman strategists in a note to clients.
Limited Downside Ahead of USDA Report, Says Grains Analyst
Following a steep selloff, there is little room to the downside for grains ahead of USDA report on plantings and harvest forecasts, says Terry Roggensack of the Hightower Report.
Corn rises for 3rd day, wheat firm ahead of USDA report
SINGAPORE, June 30 (Reuters) - U.S. corn futures gained nearly 1 percent on Thursday, rising for a third straight session, while soybeans added 0.4 percent on growing concerns over crops amid strong demand.
"The focus now is more on soybeans and corn, soy plantings may come short of overall estimates," said Ker Chung Yang, an agricultural commodities analyst at Phillip Futures in Singapore.
Indonesia yet to decide on more rice imports for 2011 -official
JAKARTA, June 30 (Reuters) - Indonesia is yet to decide on whether to import more rice or not this year, a senior official at the trade ministry said on Thursday.
On Wednesday, traders and a state-run newspaper said Indonesia has been in talks to import between 400,000 and 600,000 tonnes of rice from Vietnam to capitalise on lower prices, with shipment possible in the third quarter of this year.
Mexico publishes rules for sugar import quota
MEXICO CITY, June 29 (Reuters) - Mexico published the first set of rules for a 150,000-tonne sugar import quota on Wednesday in a bid to stabilize prices and ensure supply through the end of the year.
The Economy Ministry initially announced the quota on May 25. The Official Gazette published the guidelines for a 135,000-tonne tranche of the quota on Wednesday and the remaining 15,000 tonnes, reserved for Nicaragua, will be covered in a later publication this week, an Economy Ministry spokesman said.
Floods, rains cast shadow over U.S. crop prospects
CHICAGO, June 29 (Reuters) - Flooding in key farming areas of the United States has begun to damage corn and soybean crops, and is raising concerns about this fall's harvest at a time when supplies are tight, analysts said on Wednesday.
Floods likely prevented North Dakota farmers from planting 6 million acres of cropland this spring, said Drew Lerner president and senior agricultural meteorologist of World Weather Inc.
Kenya coffee sales volumes drop in H1 2010/11 season
NAIROBI June 29 (Reuters) - Kenya's Nairobi Coffee Exchange said on Wednesday the total volume of beans sold at its weekly auction in the first half of the 2010/11 crop year fell 7.6 percent to 323,837 60-kg bags from 351,117 bags the same period a year ago.
In its latest quarterly report, the Kenya Coffee Traders Association (KCTA) that runs the auction blamed the dip in volumes on bad weather.
Brazil cocoa arrivals dip due to bank holiday
BRASILIA, June 29 (Reuters) - Cocoa arrivals in Brazil's main cocoa state Bahia slumped in the last week, most likely due to a bank holiday which practically halved the working week for many, data from Bahia Commercial Association showed.
Bahia-based cocoa analyst Thomas Hartmann said one large local grinder had not yet reported its arrivals figures and an estimated value had been used instead, meaning the data could later be revised.
Brent stays above $112 on Greece vote, tight US stocks
SINGAPORE, June 30 (Reuters) - Brent held above $112 on Thursday, buoyed by tighter U.S. oil stocks and a weaker dollar after an initial favourable vote on austerity measures by Greece's parliament, but concerns that the IEA may decide to release more oil next month capped gains.
"The market is still assessing the release of emergency stocks by the IEA," he said
US April fuel exports highest on record -EIA
CALGARY, June 29 (Reuters) - U.S. fuel exports surged to the highest level on record in April, buoyed by a swooping rise in distillate exports to Latin American countries, government data showed on Wednesday.
Total finished petroleum products exports rose about 217,000 barrels-per-day in April compared with the previous month and reached a record high of 2.42 million bpd, according to data from the U.S. Energy Information Administration.
US oil demand drops in April, first since Nov 2009
WASHINGTON, June 29 (Reuters) - U.S. oil demand in April was weaker than previously projected, with monthly oil consumption posting its first year-over-year drop since November 2009, the U.S. government said on Wednesday.
April petroleum demand fell to 18.613 million barrels per day, down 1.57 percent from a year earlier, the Energy Information Administration said in its petroleum supply report.
LME Copper steadies after Greek vote
SHANGHAI, June 30 (Reuters) - LME copper steadied on Thursday after early profit taking following its biggest one-day rally in more than two weeks after the Greek parliament voted to accept austerity measures.
"LME copper prices are going through a normal technical downturn," Shanghai Dongzheng futures analyst Du Xiao Hua said.
Gold inches up on weak dollar after Greek vote
SINGAPORE, June 30 (Reuters) - Gold gained for a third straight session on Thursday, as an initial favourable vote on austerity measures by Greece's parliament weighed on the dollar, but low speculative interest and physical demand may cap gold's upside in the short term.
"If Greece passes the bill, we may see gold test higher tonight," said a Hong Kong-based trader, but added that the upside could be limited at $1,520, the 50-day moving average.
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