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Ukraine winter grain sowing 17% complete -ministry

Ukrainian farms had sown 1.32 million hectares of winter grains for the 2022 harvest as of Sept 20 or 17% of the expected area of 7.84 million hectares, the agriculture ministry said on Tuesday. The area will include 6.68 million hectares of winter wheat, 1.02 million hectares of winter barley and some area of rye, it said. Farmers had sown 1.2 million hectares of winter wheat and 51,2500 hectares of winter barley, the ministry said in a statement. It also said Ukraine would sow 1.03 million hectares of winter rapeseed ...

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Argentina’s 2020/21 soybean sales hit 30 mln tonnes -ministry

Argentine farmers have sold a total 30 million tonnes of soybeans from the 2020/21 crop, after registering sales over a seven-day period of 650,200 tonnes, the Ministry of Agriculture said on Tuesday. The sales volume of one of Argentina’s main crops lagged that of the previous season, when by the equivalent point some 31.6 million tonnes of the oilseed had been traded, the ministry said in report with data through Sept. 15. The 2020/21 soy harvest in Argentina ended in June at 43.1 million tonnes, according to the Buenos Aires ...

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Dalian iron ore bounces off 10-month low, reverses early losses

Iron ore futures in Asia rebounded on Wednesday, with the Dalian benchmark contract bouncing from a 10-month low, but doubts lingered whether gains could be sustained given the collapse in China’s demand and improving supply prospects. January iron ore on China’s Dalian Commodity Exchange DCIOcv1 ended daytime trading 3.7% higher at 668.50 yuan ($103.41) a tonne, reversing earlier losses that brought the most-active contract to its weakest since Nov. 26. Chinese markets were shut on Monday and Tuesday for a public holiday. Any respite from sell-offs is unlikely to last ...

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Repeal of coal mine leases again; now Adani Power loses Jitpur block

The cancellations of the leases of these large mines cast a shadow over the prospects of the liberal policy regime put in place by the Modi government to attract private investments into the sector. The Union coal ministry has decided to cancel the allotment of Jharkhand’s Jitpur coal mine to Adani Power as the company could not operationalise the mine on time. The Jitpur block was the first coal mine won by Adani Power in an auction, after submitting a closing bid of Rs 302 per tonne — payable to ...

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China pledges to stop building new coal energy plants abroad

China will not build new coal-fire projects abroad, a move that could be pivotal in tackling global emissions. President Xi Jinping made the announcement in his address at the United Nations General Assembly. China has been funding coal projects in countries like Indonesia and Vietnam under a massive infrastructure project known as the Belt and Road initiative. But it has been under pressure to end the financing, as the world tries to meet Paris climate agreement targets. “China will step up support for other developing countries in developing green and ...

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Sovecon raises forecast for Russia’s 2021 wheat crop

Russian agriculture consultancy Sovecon said on Tuesday it had raised its forecast for Russia’s 2021 wheat crop by 200,000 tonnes to 75.6 million tonnes due to good yields in Siberia. Russia is the world’s largest wheat exporter, supplying it mainly to Africa, the Middle East and Asia. Its crop, dominated by winter wheat, is expected to be lower than in 2020, when it harvested 85.9 million tonnes, due to dry weather. Siberia, the biggest producer of spring wheat in Russia, is harvesting its wheat crop with yields up 18% year ...

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Copper jumps 3% as markets cheer Evergrande deal

Copper prices shot up 3% on Wednesday on relief that China’s debt-burdened Evergrande would pay interest on a domestic bond, easing fears that the property giant’s troubles might hit the global economy. Three-month copper on the London Metal Exchange CMCU3 had climbed 3.4% to $9,277 a tonne by 1000 GMT, reversing losses from the previous session when the contract went as low as $8,810 a tonne, its weakest since Aug. 19. An Evergrande 3333.HK unit said it would make a bond interest payment on Sept. 23 after private negotiations with ...

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Big letdown for western Illinois corn as harvest ramps up

Harvest has begun for the U.S. Crop Watch corn and soybeans and the surrounding areas, and the early results are mixed though distinctly disappointing in western Illinois. The western Illinois producer began harvest on the Crop Watch corn Monday morning, and the yield expectation has plunged to 2.5 from 4.75 previously. That is consistent with other fields that were harvested in the immediate area over the last week. Each week the 11 Crop Watch producers offer yield expectations on a 1-to-5 scale with a 3 reflecting yield close to farm ...

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EU crop monitor cuts 2021 maize, spring barley yield forecasts

The European Union’s crop monitoring unit MARS lowered its yield forecast for spring barley and maize due to the negative impact of sustained hot and dry conditions in southern Europe. The conditions affected large parts of Italy, Hungary, Romania, Bulgaria and Greece, as well as in southern Turkey, MARS said. Meanwhile, the summer crop yield forecasts in western and central Europe remained positive, benefiting from a slight upwards revision due to higher than average rainfall, it said. However, the wet weather has also hampered the harvesting of winter and spring ...

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What’s hurting iron ore prices and what’s in it for Indian steelmakers?

Iron ore prices extended losses after last week’s plunge to a 14-month low as China’s restrictions on industrial activity in some regions hurt demand for the commodity. Nonetheless, iron ore has lost about 60 percent of its value in a broader retreat from a peak of $230 in May. Going forward, analysts see more pain with the base metals to continue to trade with a negative bias in the coming days. On Monday, iron ore futures in Singapore slid below the $100 per tonne mark once again before recouping some ...

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London copper rebounds as Evergrande worries fade

London copper prices advanced on Wednesday, driven by easing default fears around property giant China Evergrande 3333.HK after its main unit said it would to pay some bond interest due later this week. Three-month copper on the London Metal Exchange CMCU3 rose 3.1% to $9,255 a tonne by 0524 GMT, reversing losses from the previous session when the contract went as low as $8,810 a tonne, its weakest since Aug. 19. Risk sentiment was also supported by the People’s Bank of China injecting more liquidity into the market to replace ...

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Corn rebounds from 1-week low, but harvest progress weighs

Chicago corn futures edged higher on Wednesday, although gains were capped by signs of ample global supplies as U.S. farmers race to finish harvesting the crop. Wheat gained ground after three days of decline while soybeans were largely unchanged. “The market is focused on building seasonal pressure with the U.S. harvest,” said Tobin Gorey, director of agricultural strategy at Commonwealth Bank of Australia. “Such a decline though stands a greater chance of finding significant buying. Dry South American crop regions are an issue that may help arrest the decline.” The ...

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China’s top economic planner sends supervisor groups to stablize coal market

China’s National Development and Reform Commission (NDRC) and the National Energy Administration sent supervisory groups to firms and ports in multiple provinces to stabilize the power market and enhance the country’s major strategy of ensuring power security, according to a notification published on the official website of the NDRC on Tuesday. The supervisory groups are focusing on coal enterprises and inspect the increasing coal production, construction condition of signed production programs and middle and long-term contracts of steam coal. The pricing of coal production, transportation and trading have also been ...

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Big miners are steeled against falling iron ore

So much for the supercycle. A surge in the price of iron ore earlier this year fueled market chatter about an extended period of commodities demand. The recent reversal in the steelmaking ingredient’s fortunes has been even swifter and may well extend further. Big miners, however, are steeled against the decline. Iron ore fell almost 20% last week to $103 a tonne and is down by more than half over the past two months. In futures trading in Singapore on Monday the price fell to as low as $90 a ...

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Ukraine grain stocks at 24.2 mln t as of sept 1

Ukraine’s grain stocks totalled 24.2 million tonnes as of Sept 1, which was 7 million tonnes more than at the same point in 2020, the State Statistics Service said on Monday. Stocks at large and medium-sized agricultural companies included 17.7 million tonnes of wheat. The data does not include grain stored at hundreds of small Ukrainian farms. Ukraine’s 2020 grain harvest fell to about 65 million tonnes from a record 75 million tonnes in 2019 owing to poor weather, but could jump to a record 80.6 million tonnes in 2021. ...

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