Ukraine exported 14.9 million metric tons of grain harvested in 2009 between the beginning of the current marketing year July 1, 2009 and Jan. 25 this year, the Agriculture Ministry reported Wednesday.
Soybeans rose the most in more than a week on speculation that this month’s slump to the lowest level 15 weeks may encourage investors to buy contracts to close out profitable bets on lower prices.
Commodities may trail last year’s performance as China’s move to curb bank lending reduces demand, said Charl Malan, who helps manage $2.3 billion at Van Eck Global Hard Assets Fund.
Wheat prices fell for the third straight session on speculation demand for U.S. grains will decline as China limits lending to slow economic growth. The Reuters/Jefferies CRB Index of 19 raw materials dropped to a five-week low. Wheat has slumped 8.8 percent this month as mounting global inventories outweigh an increase in weekly U.S. exports.
Corn fell to a 12-week low on concern that record U.S. production will overwhelm global demand as China seeks to slow economic growth. Limits on lending in China sparked a rally in the dollar, sending crude oil to a five-week low and the Reuters-Jefferies CRB Index of 19 commodities down as much as 1.1 percent. On Jan. 12, the U.S. forecast record world production, signaling ample supplies for makers of livestock feed, sweeteners and ethanol.
Crude oil rose above $75 a barrel as equities rebounded from the biggest three-day decline since March on signs that Ben S. Bernanke will be reconfirmed as Federal Reserve chairman.
Ukraine exported in July-December, the first six months of the current marketing year, 6.9 million metric tons of wheat, 4% more than in the corresponding period in the previous marketing year, the agriculture ministry reported Monday.
Wheat futures fell in the last minute of trading in Chicago, erasing earlier gains, as rising global inventories are expected to overwhelm demand for the grain.
On January 22, 2010, the Decree of the Ministry of Agriculture of Russia dd. January 21, 2010, #3-r about the beginning of public commodity interventions of maize of the harvest-2008 was promulgated.
In 2009, the Autonomous Republic of Crimea (Ukraine) produced 94.9 thsd tonnes of rice, an increase of 55.1% compared to 2008, declared the Main statistics department of the Autonomous Republic of Crimea.