Cash premiums for soybeans and corn shipped to export terminals near New Orleans widened relative to futures as U.S. farmers halted sales to wait for higher prices on optimism that demand will improve.
Corn futures rose, extending yesterday’s advance, after the U.S. government lowered its estimate of the nation’s inventory as demand expands faster than expected. Wheat also rose.
Ukraine will allow bonds issued to cover value-added tax reimbursements to trade on the secondary market, Deputy Prime Minister Serhiy Tigipko said.
Agro industrial complex of Ukraine is one of the most competitive sectors of Ukrainian economics on foreign markets, declared Vasiliy Tsushko, the Minister of Economics of Ukraine.
Cocoa rose for the first time in three days on speculation that output will trail demand after exports fell from Cameroon, the fifth-biggest producer of the beans. Coffee gained for a second session.
Corn and soybeans advanced for a third day and are heading for monthly gains on speculation the global economic recovery will bolster demand for food, animal feed and biofuels.
According to data of the Ministry of Agrarian Policy of Ukraine, 7.1 mln ha of winter grain sowings from the general areas of 8 mln ha show good and satisfactory condition, or 89.6% of the general winter grain sowing areas. 0.8 mln ha (10.4%) are estimated as weak and thinned, nearly 600 thsd ha (7%) of winter grain sowing areas perished, declared the press-cutting service of the Ministry of Agrarian Policy on April 29.
Wheat fell for the third time in four sessions after favorable weather boosted crop prospects in the U.S., the world’s largest shipper of the grain.
Sugar declined to the lowest price since last June on mounting evidence that rising supplies from Brazil will erase a global production deficit.
China will impose an additional duty on U.S. chicken imports of as much as 31.4 percent in response to what it called unfair subsidies for poultry farmers, threatening to deepen a trade rift.