Markets ease as focus moves to growth, oil prices
TOKYO, Feb 23 (Reuters) - Asian shares and the euro fell on concerns about global growth driven by higher oil prices and data showing the euro zone may slip into recession, fanning fresh worries about Greece's debt restructuring challenges.
"Now that the Greece's second rescue package has been decided and priced into the market, markets are already looking for the next problem," said Yoshihiko Tabei, general manager of capital markets at Kazaka Securities.
FOREX-Yen edges up but stuck near 7-mth low vs dollar
SINGAPORE, Feb 23 (Reuters) - The yen edged up versus the dollar on Thursday but still hovered close to a 7-month low, with the dollar supported by demand from Japanese importers.
The greenback took a breather from its recent rally against the Japanese currency, having climbed 5.4 percent from lows hit in early February.
U.S. wheat, corn, soybean lower ahead of USDA data
NEW DELHI, Feb 23 (Reuters) - Chicago wheat, corn and soybeans were lower, in line with a broader fall in global markets driven by concerns that Greece's debt crisis may plunge the euro zone into recession, but the fall was muted as the market awaits key USDA data.
"At the moment, the Chicago grains market is influenced by the outside market which has got some bearish bias," said Luke Matthews, a commodity strategist with Commonwealth Bank of Australia in Sydney.
Ukraine 2012/13 corn exports seen up 15-20 pct over this yr
SINGAPORE, Feb 23 (Reuters) - Corn exports from Ukraine in 2012/13 are expected to rise about 15 to 20 percent to between 14 million and 15 million tonnes, an official of the State Food and Grain Corp of Ukraine said on Thursday.
By the end of September, the country's corn stocks are seen at 4.7 million tonnes, up from 1.2 million tonnes a year ago, the state-run firm's Andrew Druzyaka told reporters.
Paraguay could triple soyoil output, exports in 2013
BUENOS AIRES, Feb 22 (Reuters) - Paraguay, the world's fourth-biggest soybean supplier, could triple its production and exports of soyoil next year when two large processing plants come on line, industry analysts said on Wednesday.
The South American country, which currently exports most of its soy as raw beans, could crush up to 4 million tonnes in 2013 when Archer Daniels Midland , Bunge and Louis Dreyfus are set to start operating their factories.
Ukraine denies curbing wheat exports
KIEV, Feb 22 (Reuters) - Ukraine's government said on Wednesday it had not urged grain traders to limit wheat exports, denying local media reports it had done so, and it forecast that there would be no shortages of grain on the domestic market.
"There are no recommendations to limit wheat exports," Agriculture Minister Mykola Prysyazhnyuk told reporters.
Ukraine sees grain harvest at 50 mln T - AgMin
KIEV, Feb 22 (Reuters) - Ukraine will harvest 42 to 50 million tonnes of grain this year, including 15-16 million tonnes of wheat, Agriculture Minister Mykola Prysyazhnyuk said on Wednesday, adding that this would be enough to meet domestic demand.
Ukraine harvested a record of 56.7 million tonnes of grain in 2011, including 22.3 million tonnes of wheat. But this year's winter crops have been hit by drought and extreme cold.
Indonesia to import up to 2 mln T rice in 2012
JAKARTA, Feb 22 (Reuters) - Indonesia plans to import up to 2 million tonnes of rice this year to ensure food security, an unexpected move that could soak up regional stockpiles and support prices.
The country had aimed to avoid rice imports this year after surprising markets by buying 1.9 million tonnes in 2011, but output from the world's third largest grower is again falling short of forecasts, threatening its ambition to become self-sufficient in rice.
Russia to maintain grain exports to Iran - ministry official
SINGAPORE, Feb 22 (Reuters) - Russian traders will export grain to Iran until Russia decides whether to ban sales in line with U.S. and European sanctions on Iran, an Agriculture Ministry official said on Wednesday.
"Until the Russian government makes a decision to ban grain exports to Iran, exports will continue," Krestyaninov Artem, a deputy director at the ministry, told reporters on the sidelines of a grains conference in Singapore.
Brent crude holds near $123 as Iran offsets slowdown concerns
SINGAPORE, Feb 23 (Reuters) - Brent crude held steady, near a nine-month high of about $123, as supply worries from heightened tensions between Iran and the West offset concerns that a slowdown in the global economy could curb oil demand.
"Any further news of escalating tensions in Iran or other Middle East or African countries will likely increase the risk premium although our short-term view could be that prices could dip today on profit-taking as prices reach overbought territory," said Natalie Robertson, a commodity strategist at ANZ bank.
LME copper slips for 2nd day, economic woes weigh
SINGAPORE, Feb 23 (Reuters) - London copper edged lower for a second day as worries over a floundering euro zone economy and a weak manufacturing sector in top copper consumer China made it difficult for investors to stretch this year's rally.
"The market got very excited about the Greece bailout and then we started to see a reassessment of Greece, reassessment of Europe and a general reassesment of risk," said Nick Trevethan, senior commodities strategist at Australia and New Zealand Bank.
Gold pauses after rally; monetary easing hopes support
SINGAPORE, Feb 23 (Reuters) - Spot gold edged lower , taking a breather after hitting a three-month high in the previous session, while sentiment remains supported on hopes of further monetary easing after sluggish economic data from the euro zone and China.
"There is always a case to be made for gold, as long as the central banks keep taking new easing measures or keep indicating they will take more new measures down the road," said a Singapore-based trader.
China's imports; seeing beyond the numbers
Andy Home is a Reuters columnist. The opinions expressed are his own)
LONDON, Feb 22 (Reuters) - China and the U.S. are the twin sources of optimism for base metals bulls right now. If the former can achieve its much-vaunted "soft landing" and the latter can continue on its path of economic recovery, the slow-motion disaster that is Europe can be put out of collective mind.
So it's a little surprising there hasn't been more enthusiasm about China's January trade figures released on Tuesday.
Japan steel body urges restart of nuclear reactors
TOKYO, Feb 22 (Reuters) - Japan's steelmakers, the nation's biggest users of electricity, urged the early restart of nuclear power plants on Wednesday, fearing that potential power cuts and more costly electricity will further squeeze a sector reeling from the strong yen.
Big businesses have reacted furiously to plans by Tokyo Electric Power Co , or Tepco, to raise charges but had refrained from calling for the restart of reactors, wary of an angry response from a public worried about nuclear safety due to the Fukushima radiation crisis.
Lynas faces claim against Malaysia rare earths plant license
MELBOURNE, Feb 23 (Reuters) - Opponents of Australian rare earths miner Lynas Corp's refinery in Malaysia have asked a court to delay start-up of its $200 million plant and review the government's decision to give it a temporary operating license.
Lynas said on Thursday it would fight the claims, as it aims to open the plant, which is nearly complete, by June.
METALS-LME copper slips for 2nd day, economic woes weigh
SINGAPORE, Feb 23 (Reuters) - London copper edged lower for a second day on Thursday as worries over a floundering euro zone economy and a weak manufacturing sector in top copper consumer China made it difficult for investors to stretch this year's rally.
Copper's weakness was echoed in other commodities and financial markets, with Asian equities and the euro slipping as global economic concerns including rising oil prices cut into a rally earlier in the week after euro zone finance ministers signed off on Greece's rescue package.
PRECIOUS-Gold pauses after rally; monetary easing hopes support
SINGAPORE, Feb 23 (Reuters) - Spot gold edged lower on Thursday, taking a breather after hitting a three-month high in the previous session, while sentiment remains supported on hopes of further monetary easing after sluggish economic data from the euro zone and China.
Data showed unexpectedly weak activity in the euro zone, while China's manufacturing sector contracted for the fourth straight month, fueling anticipations that central banks will further ease monetary policy to promote economic growth.
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