World Agrinews

On December 30, 2009, the National commodity exchange (Russia) provided the regular exchange auction within the bounds of the state purchasing interventions on the market of grains. The government purchased 125.685 thsd tonnes of grains at the general sum of 446.56 mln RUR, declared the media department of CJSC National commodity exchange.

Sugar futures jumped to the highest price since 1981 in New York on speculation that supplies will tighten as demand increases and output falls short of forecasts in Brazil and India, the biggest producers.

Soybeans climbed for a fourth day in Chicago on signs of Chinese demand for U.S. supplies of the oilseed. March-delivery soybeans rose 0.5 percent to $10.675 a bushel on the Chicago Board of Trade at 12:48 p.m. Paris time. The contract climbed to $10.7475 a bushel yesterday, the highest price since Dec. 1.

Soybeans fell the most in four sessions on speculation that China, the world’s biggest importer, may shift from U.S. supplies to shipments from South America, where farmers begin harvesting in February.

Brazil and Argentina, the two biggest soybean growers after the U.S., may produce a record 116 million metric tons next year, up 30 percent, the U.S. Department of Agriculture says. Brazil will harvest 64.6 million tons, the most ever and up from 57.2 million this year, the Agriculture Ministry said today.