Greek debt hopes buoy shares, eyes on U.S. jobs
TOKYO, March 9 (Reuters) - Tokyo stocks jumped to a seven-month high on Friday as Asian shares rose on signs Greece is a step nearer to averting a default, although momentum may be checked by caution ahead of U.S. data that is expected to confirm a labour market recovery.
"News about Greece is generally positive and is expected to underpin the euro in the near-term, while expectations the European Central Bank won't lower interest rates also will spur a buy-back in the euro," said Yuji Saito, director of the foreign exchange division at Credit Agricole Bank in Tokyo.

FOREX-Euro up on Greek relief; China, U.S. data next
SYDNEY, March 9 (Reuters) - The euro and commodity currencies held on to overnight gains in Asia on Friday after Greece moved closer to securing fresh funds needed to avoid a messy debt default.
But further gains will depend on China's consumer inflation data due around 0130 GMT and industrial output at 0530 GMT, which could either support or undermine the improving risk sentiment.

Soy at 5-month top on Chinese buying, wheat rebounds
SYDNEY, March 9 (Reuters) - Chicago soy futures rose to their highest in more than 5 months on Friday, on track for a fourth straight week of gains as the market was supported by strong U.S. export sales led by demand from China.
"The focus is on the USDA report and according to most forecasters, we are likely to see a contraction in oilseed numbers," said Luke Mathews, commodities strategist at Commonwealth Bank of Australia.

Hot summer may not hit US corn after warm winter-study
CHICAGO, March 8 (Reuters) - Farmers in Iowa and Illinois should not bank on searing summer heat just because both of the top U.S. corn states saw one of their warmest winters in at least 50 years, University of Illinois economists said in a study released on Thursday.
Agricultural economists Darrel Good and Scott Irwin studied temperature and corn yield data from 1960 to 2011 for Iowa and Illinois and found little correlation that warm summers follow warm winters or that corn yields were affected.

Grain ships halted in Argentina, dockers walk off job
BUENOS AIRES, March 8 (Reuters) - Crews needed to guide ships through the ports of grains powerhouse Argentina will stay off the job until more staff is assigned to work busy docking shifts, a union leader said on Thursday.
The week-old walkout by the dockers has bogged down shipments from the world's biggest supplier of soyoil, used for cooking and in the booming international biofuels sector. Argentina is also a major global provider of corn and soybeans.

Britain, Spain seen blocking EU deal on GM crop bans
BRUSSELS, March 8 (Reuters) - European Union ministers are unlikely to agree draft rules to let countries decide themselves whether to grow or ban genetically modified (GM) crops, despite efforts by Denmark's EU presidency to reach a compromise.
EU environment ministers meeting in Brussels on Friday will vote on a Danish compromise designed to break a deadlock that has split governments in the 27-country bloc since the draft rules were proposed in 2010.

Viterra sees big Canada, Australia crop plantings
WINNIPEG, Manitoba, March 8 (Reuters) - Planting conditions in Canada and Australia point to large grain and oilseed crops in 2012, and a global production rebound could pressure grain prices this year, the CEO of Canada's biggest grain handler Viterra , said on Thursday.
In Western Canada, farmers expect to boost plantings by 8 percent to 10 percent, to between 57 million and 59 million acres, as previously flooded land returns to production, the company said, as it reported a lower quarterly profit.

Brent rises above $125 on Greece debt hopes, U.S. data
SINGAPORE, March 9 (Reuters) - Brent crude rose above $125 a barrel on Friday, posting its sixth weekly gain in seven, as Greece successfully closed its bond swap offer for creditors, a key step towards securing an international bailout to avoid a messy default.  
"Europe has a big impact on Brent prices and the market has been pricing in a more positive outcome and is also closely watching sentiment data out of the United States," said Natalie.

CNPC's Feb crude runs above plan, record diesel stks in late Jan
BEIJING, March 9 (Reuters) - China National Petroleum Corp's crude oil throughput and oil products output were both more than 200,000 tonnes higher in February than planned, China's second largest refiner said in a company-run newspaper.
CNPC's diesel inventories reached a record high in late January, the China Petroleum Daily said.

Keystone oil pipeline bill fails in U.S. Senate
WASHINGTON, March 8 (Reuters) - U.S. Senate Democrats on Thursday defeated a Republican proposal to give a permit to the Keystone XL crude oil pipeline in a vote that will give Republicans more ammunition to criticize President Barack Obama's energy policies on the campaign trail.
Republicans argue the pipeline, which would ship oil from Canada and northern U.S. states to Texas, would create jobs and improve energy security at a time of surging gasoline prices.

Exxon Mobil sees dip in oil, gas output this year
NEW YORK, March 8 (Reuters) - Exxon Mobil Corp  said its 2012 oil and natural gas output would drop 3 percent from last year even as it increases spending to bring several large new projects on line, and its shares fell 1.2 percent.
Despite the expected drop in 2012, production should increase by an average of 1 to 2 percent annually through 2016, the company told analysts in New York on Thursday.

Copper rises 1 pct, China data boosts demand outlook
SINGAPORE, March 9 (Reuters) - London copper rose for a third day in a row after data showing Chinese inflation at a 20-month low raised hopes for further monetary easing that could spur demand from the world's top consumer of the metal.
"We'll see policymakers much keener to loosen some of the monetary controls and that will make more funding available for construction projects," said Matt Fusarelli, analyst at Australia-based consultancy AME Group.

China's Shougang gets approval to acquire smaller Tonghua
BEIJING, March 9 (Reuters) - China's Shougang Group has received approval to acquire the smaller mill Tonghua Steel in northeastern China, the Ministry of Industry and Information Technology (MIIT) said on Friday, as Beijing's seeks to consolidate the fragmented sector.
Shougang, the country's sixth-biggest mill, has been aggressively seeking to acquire smaller producers after moving its facilities out of Beijing to improve the air environment of China's capital.

Lynas sees Malaysia rare earths plant timeline intact
MELBOURNE, March 9 (Reuters) - Australia's Lynas Corp  still expects its rare earths plant in Malaysia to open by June, despite an appeal against the government's decision to grant a licence to the plant that is key to breaking China's grip on global markets.  
Lynas said the Malaysian government had received an appeal against the temporary operating licence granted to the company in February and would hear the appeal in April.

Gold firms as China data sparks easing hopes
SINGAPORE, March 9 (Reuters) - Gold edged up, rising in tandem with other commodities and equities, after lower-than-expected inflation data out of China suggested more monetary easing could be on its way.
"A lower headline inflation number means that the central bank can continue to be very accommodative, which means printing more money," said Jeremy Friesen, commodity strategist at Societe Generale in Hong Kong.

China Feb oil, copper imports to fall after holiday
SHANGHAI/HONG KONG, March 8 (Reuters) - China's imports of crude oil and copper in February are expected to have fallen from January's levels, as many oil refineries start regular maintenance and industrial consumers push back metal shipments amid swollen inventories and feeble demand.
Crude oil shipments should ease from the 23.41 million tonnes, or 5.51 million barrels per day, recorded in January, as some of the country's top refineries pared their run rates to the lowest in four months for maintenance.

Indonesia eyes moves on tin exports, palm tax
JAKARTA, March 8 (Reuters) - A cut in shipments of refined tin is among the options Indonesia, the world's top exporter of the base metal, could consider in a bid to push prices above $30,000 a tonne, the country's junior trade minister said on Thursday.
In an effort to push global prices above $23,000 a tonne, tin smelters in Indonesia's main tin-producing region of Bangka-Belitung islands imposed a brief ban on export of tin ingots from October last year, but the move failed.

CNPC's Feb crude runs above plan, record diesel stks in late Jan
BEIJING, March 9 (Reuters) - China National Petroleum Corp's crude oil throughput and oil products output were both more than 200,000 tonnes higher in February than planned, China's second largest refiner said in a company-run newspaper.
CNPC's diesel inventories reached a record high in late January, the China Petroleum Daily said.

Keystone oil pipeline bill fails in U.S. Senate
WASHINGTON, March 8 (Reuters) - U.S. Senate Democrats on Thursday defeated a Republican proposal to give a permit to the Keystone XL crude oil pipeline in a vote that will give Republicans more ammunition to criticize President Barack Obama's energy policies on the campaign trail.
Republicans argue the pipeline, which would ship oil from Canada and northern U.S. states to Texas, would create jobs and improve energy security at a time of surging gasoline prices.

China Feb oil, copper imports to fall after holiday
SHANGHAI/HONG KONG, March 8 (Reuters) - China's imports of crude oil and copper in February are expected to have fallen from January's levels, as many oil refineries start regular maintenance and industrial consumers push back metal shipments amid swollen inventories and feeble demand.
Crude oil shipments should ease from the 23.41 million tonnes, or 5.51 million barrels per day, recorded in January, as some of the country's top refineries pared their run rates to the lowest in four months for maintenance.  

Australian miners sanguine on new Indonesia law
MELBOURNE, March 9 (Reuters) - Australian miners are playing down the impact of a new law in Indonesia limiting foreign ownership in mines to no more than 49 percent, even after a senior Indonesian official said the law would apply to all foreign miners.
The government has said it wants Indonesians to have greater ownership of resources in the country, which is the world's top exporter of thermal coal and tin and has abundant reserves of copper and gold.

China zinc imports may rise if mine remains closed for 3 mths
HONG KONG, March 8 (Reuters) - China's imports of zinc and raw material concentrates could climb if a key mine and zinc smelter do not reopen in three months, analysts and traders said on Thursday.
Shenzhen Zhongjin Lingnan Nonfemet , a major domestic metal producer, on Sunday shut its 200,000-tonne-a-year Fan Kou lead and zinc mine and 110,000-tonne-a-year Dan Xia zinc smelter for maintenance due to fears about lead pollution.

METALS-Copper rises 1 pct, China data boosts demand outlook
SINGAPORE, March 9 (Reuters) - London copper rose for a third day in a row on Friday after data showing Chinese inflation at a 20-month low raised hopes for further monetary easing that could spur demand from the world's top consumer of the metal.
A successful bond swap in Greece aimed at slashing its debt mountain also aided sentiment towards industrial metals and other riskier assets, ahead of the release of key U.S. employment data later in the day.  

PRECIOUS-Gold firms as China data sparks easing hopes
SINGAPORE, March 9 (Reuters) - Gold edged up on Friday, rising in tandem with other commodities and equities, after lower-than-expected inflation data out of China suggested more monetary easing could be on its way.
China's annual rate of consumer inflation slowed sharply to a 20-month low of 3.2 percent in February, comfortably within Beijing's 2012 target of 4 percent, giving policymakers room to further loosen monetary policy to support slowing growth.


Iron Ore-Shanghai rebar at 1-month high after China data
SINGAPORE, March 9 (Reuters) - Shanghai steel futures rose to one-month highs on Friday, heading for a third weekly gain, after data showing a drop in China's inflation raised investors' hopes of an increase in demand from the world's top steel consumer.
China's annual consumer inflation slowed to a 20-month low of 3.2 percent in February, staying comfortably within Beijing's 2012 target and giving policymakers scope to further loosen monetary policy to support flagging growth.

Baltic sea index rises on Atlantic activity
March 8 (Reuters) - The Baltic Exchange's main sea freight index tracking rates for ships carrying dry commodities rose for the eleventh straight day on Thursday, on steady gains for panamaxes due to fresh grain and coal cargoes in the Atlantic.
The main index, which factors in the average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels, rose 14 points or 1.75 percent to 812 points.

Shipping crisis to extend into 2013 - Moody's
LONDON, March 7 (Reuters) - The global shipping slump is expected to last well into 2013 as a glut of vessels and a growing credit squeeze will challenge even the toughest companies in the seaborne sector, Moody's Investor Service said on Wednesday.
Shipping companies, especially in the oil tanker and dry bulk sectors, already hit by worsening economic turmoil, weak earnings and oversupply ordered in the good times now face tighter financing as banks cut their exposure to risky and dollar denominated assets such as ship finance to meet tougher capital rules.