July 2012
55 posts
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Kenya - Tea farmers to get Kshs.2.2b worth of... →
Small-scale tea farmers will begin receiving 63,500 metric tonnes of fertilizer worth Ksh2.2 Billion imported on their behalf by the Kenya Tea Development Agency (Management Services) Ltd from next week.
This follows the arrival Thursday at Mombasa Port of a ship carrying more than 31,000 metric tonnes, which is the first consignment of the fertilizer.
The ship, mv Thor Energy, is set to begin...
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CIBC Downgrades Potash Corp. (POT) To 'Sector... →
(By Balachander) CIBC World Markets Inc. downgraded its rating on shares
of Potash Corp. of Saskatchewan Inc. (NYSE:POT : 45.45, -0.33) to
“Sector Performer” from “Sector Outperformer”, saying it expects longer
potash surplus market.
The brokerage, which reduced price target on the stock to US$54 from
US$60, also lowered 2012 EPS estimate for the company to...
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Iowa - Natural gas prices sent most fertilizer... →
The $1.3 billion fertilizer plant being proposed by Egypt-based Orascom Construction Industries would be the first new U.S. nitrogen plant built in decades and comes at a time when domestic production — but not demand — has dropped dramatically, industry experts said.
“We have not built a new nitrogen plant since the early 1970s, and most those still operating are 1960s vintage,” said David...
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Australia stocks surge; energy among top gainers.... →
LOS ANGELES (MarketWatch) — Australian stocks rallied in early Thursday action, carrying on gains from Wall Street and reacting to some positive news in the energy sector, with the benchmark S&P/ASX 200 (AU:XJO) up 1.2% at 4,173.70. Shares of Woodside Petroleum Ltd.(AU:WPL)(US:WOPEF) jumped 4.1% after the energy major raised its production forecast on good results from its Pluto...
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KAP commits to $1.5B N.D. fertilizer plant →
The Keystone Agricultural Producers will announce today that they will be involved in plans to build a $1.5-billion fertilizer plant in North Dakota and will have a seat at its board of directors table.
That board seat will be filled by Brian Chorney of the Manitoba Canola Growers Association and allows Manitoba producers an opportunity to get involved in a project set up — in part — by former...
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U.S. drought set to harvest huge profits for... →
The U.S. is in the grips of its worst drought in 25 years, farmers are considering pulling out their corn crop early to feed the stalks to cattle, and the World Bank is watching global food supplies.
And fertilizer companies are set to reap huge profits.
The pounding heat and dry conditions that are crippling corn crops are wreaking havoc with supplies. That’s driving prices for the commodity...
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Potash stocks high despite Intrepid, Mosaic falls →
Potash inventories in North America stayed stubbornly high despite the efforts of Intrepid Potash to lower its own stocks of the nutrient, beating sales targets to get shot of more than it produced.
Potash inventories held by US and Canadian producers, which with Russian peers account for the great majority of world supplies, ended June at a little under 3.0m tonnes, down 92,207 tonnes month on...
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Yara International flags industry boost from... →
Yara International flagged the boost to nutrient groups from tight crop markets as it unveiled as jump of nearly one-half in underlying earnings, becoming the third fertilizer group within 24 hours to unveil data ahead of forecasts.
The Norwegian group, the world’s biggest nitrogen fertilizer company, highlighted that “tight balances in most agricultural markets” were supporting...
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BHP Billiton hits annual output records at 10... →
Seven-billion-dollar investment commitment allows resources giant BHP Billiton to move eight major projects into execution, while six projects deliver first production.
RESOURCES giant BHP Billiton says six major projects delivered first production in the 2012 financial year, while a total investment commitment of $7.5bn enabled another eight major projects to move into execution.
Releasing its...
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Mosaic Says China Potash Price More Likely To Rise →
China, the world’s largest potash consumer, is more likely to pay a higher price for imports of the fertilizer after grain prices soared because of a drought in the U.S., according to Mosaic Co. (MOS)
Corn futures have jumped 52 percent in Chicago in the past month and soybeans have climbed 21 percent as the worst U.S. drought in a generation damages crops. Mosaic Chief Executive Officer Jim...
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Agrium raises profit forecast; shares climb →
(Reuters) - Fertilizer maker and farm products retailer Agrium Inc (AGU.TO: Quote) (AGU.N: Quote) raised its second-quarter earnings forecast on Wednesday, citing excellent results across its entire crop input business.
The revised forecast sent shares of the Calgary, Alberta-based company up 3.8 percent to $96.10 before the morning bell in the United States.
Agrium now expects second-quarter...
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Yara reports strong second-quarter results →
Oslo (2012-07-18): Yara International ASA reports strong second-quarter results with increased sales volumes, especially for Yara-produced fertilizer. Margins strengthened compared with last year, primarily for urea reflecting a tight nitrogen fertilizer market. Yara reports second-quarter net income after non-controlling interests of NOK 2,800 million (NOK 9.86 per share), compared with NOK 2,225...
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BHP Billiton Quarterly Copper Production Beats... →
BHP Billiton Plc, the world’s largest mining company by market capitalization, said second- quarter copper production rose 15 percent from a year earlier.
Copper production reached 312,500 metric tons, the Melbourne-based miner said today in a statement. That’s above the 303,700 ton median estimate of five analysts surveyed by Bloomberg.
The global copper surplus will total 18,500 tons,...
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Belarus won't sell control of potash... →
(Reuters) - Belarus President Alexander Lukashenko said on Tuesday that the country will not sell control in potash miner Belaruskali, adding it was worth $30-$32 billion, news agency Interfax reported.
Russian potash miner Uralkali said in September it was interested in buying a controlling stake in Belaruskali, while noting at the time that the company was not for sale. Belaruskali and Uralkali...
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BHP Billiton Iron Ore Output Rises 15% To Beat... →
BHP Billiton Ltd. (BHP)’s fourth-quarter iron ore production gained 15 percent as the world’s largest mining company expands operations in Australia’s Pilbara region, setting a 12th consecutive annual record.
Output was 40.9 million metric tons in the three months ended June 30, from 35.5 million tons a year earlier, Melbourne- based BHP said today in a statement. That beat the 37.3 million ton...
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Pakistan : Fertilizer output set at 4.1 million... →
ISLAMABAD: As much as 4.174 million tons of fertilizers is projected to be produced during the current financial year (2012-13) to further enhance per acre crop out-put and achieve the set crop production targets in the country.
During the current financial year government has set to produce 3.4 million tons of Nitrogen (N) as against the last year production of 3.1 million tons to fulfill the...
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Russia - Cabinet Tweaking Agricultural Subsidies... →
The Cabinet approved a new long-term plan to support farming, changing some approaches that could raise questions among WTO members.
Federal agricultural subsidies and spending are rising very moderately despite fears that Russia’s entry into the global trade group in the next few weeks will challenge the sector thanks to a surge in foreign competition.
As the support program starts next...
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Australia Futures Rise on China Stimulus Outlook,... →
Australian stock futures rose amid speculation China may take more economic stimulus measures, boosting the earnings outlook for companies that generate sales in the Pacific nation’s biggest trading partner.
American Depositary Receipts of BHP Billiton Ltd. (BHP), the world’s largest mining company, gained 1.3 percent. Shares of Whitehaven Coal Ltd. (WHC) may be active after a group led by...
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Glencore obtains government go-ahead for $6.1... →
Swiss commodity supplier Glencore International obtained approval from the Canadian federal government on Sunday for its application to buy up Canadian agribusiness titan Viterra Inc., bringing the $6.1 billion deal that much closer to completion.
Canadian Industry Minister Christian Paradise approved the bid under the Investment Canada Act, saying in a press release that the deal “is likely to...
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Black Sea grain prospects hit by double whammy →
Prospects for Black Sea grain output received a double whammy when Kazakhstan cut its harvest forecast to half 2011 levels, minutes after UkrAgroConsult lowered its estimate for Ukraine’s production.
Sagintai Zhumazhanov, a senior official at the Kazakhstan farm ministry, blamed a decline in rainfall for a cut to 14m tonnes, from 15m-16m tonnes, in the official forecast for the grains...
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Cocoa investors brace for poor data on grindings →
Cocoa speculators are bracing for what many investors fear be the worst set of processing data since the world financial crisis to see if their brighter call on the bean is justified.
Speculators have covered a mass of short positions in cocoa futures and options, turning net long last week in New York-traded contracts, to their highest level since September, regulatory data this week showed.
In...
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Grains rally turns Aussie farmers 'wildly bullish' →
Pessimism among Australian growers, stoked by unsettling dryness heading into winter, has reversed, with many turned “wildly bullish” by higher grain prices, and enjoying improved rains too.
The revival in Australian grain prices - which reached Aus$291 a tonne in Sydney this week for January delivery, up more than 20% over the last month - is “offering growers an unprecedented...
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US slashes corn, soy crop hopes, blaming heatwave →
The grains rally struggled for traction despite the US slashing forecasts for its corn and soybean crops by more than investors had expected, blaming “persistent and extreme June dryness”.
The US Department of Agriculture ditched ideas of the US corn yield of 166 bushels an acre, cutting its forecast instead to a nine-year low of 146 bushels per acre, “reflecting the rapid...
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Rio Tinto, BHP Billiton Rank High for Corporate... →
Rio Tinto and BHP Billiton were both ranked in second place in terms of their level of transparency on a list of the world’s 105 biggest publicly-traded corporations by non-governmental organization Transparency International. The group’s Transparency in Corporate Reporting index assessed each company based on the level of disclosures, such as earnings and taxes reported as well as a their...
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What's Behind Terra Nitrogen's Growth in 2012? →
The first half of 2012 is in the rearview mirror, and investors are gearing up for what looks to be an action-packed ending. There are bound to be some big winners — and more than a few duds — no matter what happens in the United States and abroad.
Will your favorite stock have its victory lap as we hit the home stretch, or will it get lapped? First-half performances can hold some...
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New attack on potash ‘cartel’. PotashCorp denies... →
Two Canadian corporate giants, Potash Corp. of Saskatchewan Inc. and Calgary-based Agrium Inc., are among a list of worldwide potash producers facing a revived U.S. lawsuit that accuses them of acting like a “tight-knit global cartel, similar to OPEC in its heyday.”
In a surprise ruling, the U.S. Court of Appeals for the Seventh Circuit in Chicago last month revived a potential...
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Soybean prices hit record, and corn comes close →
Grain prices soared again on Monday, sending soybean futures to an all-time high and corn futures to within 2% of their record top, as an expected cooling in Midwest temperatures failed to bring significant rains, further cutting hopes for US yields.
Chicago’s best-traded December corn lot traded up the exchange limit of $0.40 at one point, to a contract high of $7.33 a bushel.
The July...
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Vale Is Worth $26 As Brazil Approves Potash Deal... →
Brazil’s antitrust regulator has approved a deal between Vale (NYSE:VALE) and Petrobras, giving a boost the former’s plan to play a larger role in fertilizers. The deal will enable Vale to develop a new Carnalita mine in Sergipe state of Brazil, which could produce 1.2 million tons per year (mtpy) of potash with many expecting the region to add as much as 2.2 mtpy of potash due to other probable...
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BHP Billiton: Top Aussie Fortune 500 company →
BHP Billiton Limited (ASX:BHP) has been named as Australia’s largest company in Fortune Magazine’s Global 500 list of the world’s largest companies.
Among the Australian companies the global miner made the 108th spot followed by conglomerate Wesfarmers Limited (ASX:WES) in 171st position, supermarket giant Woolworths Limited (ASX:WOW) in 175th position and Australia’s Big Four Banks:...
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Russian grain trade counts cost of floods →
The floods which struck southern Russia at the weekend, killing at least 171 people, may have damaged stored as well as unharvested grains, with concerns centring on one of two giant silos at the port of Novorossiisk.
Officials and analysts were still on Monday attempting to gauge the degree of damage to standing crops in southern Russia from the floods, which followed rains on Friday night which...
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Chinese buyers move in on UK farmland market →
Chinese buyers, whose interest in foreign farmland has raised hackles from Argentina to Australia, have turned their attention to the UK –although for investment, rather than food security, reasons.
Knight Frank, the UK-based property consultancy, said it was, for the first time, “starting to see genuine bids” from Chinese investors wanting to buy UK farmland.
However, these were...
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Grain prices set new highs as US crop fears deepen →
Grain and oilseed futures soared again on Thursday to pass a clutch of price landmarks, spurred by the “blistering temperatures and sparse rainfall” which prompted further cuts to hopes for US yields.
Setbacks to grains in Ukraine and France only fuelled the buying spree.
Corn for December, Chicago’s best-traded contract, soared nearly 6% at one point as it topped $7.00 a bushel...
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Coffee supplies tighter than thought, says ICO →
Coffee supplies are tighter than has been thought, with the International Coffee Organization trimming its estimate for world production of the bean while edging higher its idea of consumption.
The group pegged 2011-12 production of coffee by 600,000 bags to 131.3m bags, reflecting in the main a downgrade to the Tanzanian crop, where drought dented hopes of a bumper crop.
And it cautioned over...
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Hike in cotton support dims India's export hopes →
Buoyant domestic cotton prices, supported by a hike in the government support value, have cut prospects for Indian exports of the fibre, and opened up the prospect of it following China in building large state reserves.
Relatively high prices mean that cotton shipments from India, the second-ranked exporter, have slowed “to a trickle” despite the lifting of ban on sales abroad, the US...
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Weather fears gather over cocoa output too →
Weather concerns, which have boosted grain and sugar markets, may send cocoa prices higher too, thanks to the growing risk of an El Nino weather pattern, Rabobank said.
The bank nudged higher its forecasts for New York cocoa futures, estimating the spot contract will average $2,650 a tonne in the first quarter of 2013, nearly $400 a tonne more than investors are factoring in.
The estimate...
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Russian potash miner Uralkali said on Thursday its... →
Russian potash miner Uralkali said on Thursday its potash production increased to 2.9 million tonnes in the second quarter 2012 from 1.9 million tonnes in the previous three months.
In 2011 the world’s second-biggest potash producer by capacity mined 10.8 million tonnes of potash. In the longer term, demand for the commodity is expected to soar as farmers strive to produce enough food for a...
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Clal raises Israel Chem forecast. Potash expected... →
“The likelihood of price increases in agricultural commodities is increasing.” That’s how Jonathan Kreizman, an analyst at Clal Finance brokerage, explained the upgrade and increase in the target price for Israel Chemicals Ltd.
He raised his rating from “market perform” to “market outperform,” and boosted his target price from NIS 43 a share to NIS 48....
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Australian shares boosted by oil firms, miners,... →
SYDNEY (MarketWatch) — Australian shares advanced on Wednesday morning, as a steep rise in oil prices in New York fuelled interest in the energy sector. The S&P/ASX 200 index /quotes/zigman/1653884 AU:XJO +0.80% advanced 0.8% to 4,158.60 in early trading, after a positive session for American stocks which were also helped by better-than-expected data on factory orders. Energy companies...
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Global Industrial and Caustic Potash Industry →
This report analyzes the worldwide markets for Industrial and Caustic Potash in Thousand Tons by the following End Use Applications: Fertilizers, Computer & TV Monitors, Food & Pharmaceuticals, Crystal & Ceramics, Soap, and Others. The report provides separate comprehensive analytics for the US, Canada, Japan, Europe, Asia-Pacific, Middle East, and Latin America. Annual estimates and...
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Ethiopian Potash Corp. Arranges Shares for Debt →
Ethiopian Potash Corp. (the “Company” or “EPC”) (TSX VENTURE:FED)(TSX VENTURE:FED.WT) announces that it has arranged to settle outstanding debts owed to certain arms-length service providers by issuing an aggregate of 14,687,163 common shares at a deemed price of $0.15 per common share. Such arrangements remain subject to TSXV approval. The common shares that will be...
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Crop condition tumbles as north succumbs to heat →
Corn and soybeans deteriorated far more significantly than the market had expected as damage from the heatwave spread into northern areas where producers had held out hopes of decent harvests.
The proportion of US corn rated in “good” or “excellent” health fell by eight points to 48% in the week to Sunday, the US Department of Agriculture said.
The figure was above the...
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Price-fixing suit would put potash industry on... →
For decades, people have accused the potash industry of operating like a cartel to keep prices artificially high. They are now closer to having their day in court.
Last week, a U.S. Court of Appeals in Chicago sent shockwaves through the fertilizer industry by ruling that an antitrust suit against potash producers should go ahead. That reversed a prior court decision to dismiss it, and set the...
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Uralkali buys back shares and GDRs →
StockMarketWire.com - Potash producer Uralkali bought back 660,000 shares at an average price of $6.92 apiece and 125,000 global depository receipts at an average price of $34.63 each in the week ending 29 June.
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BHP Billiton asset quality "unmatched" in mining... →
Broker Jefferies said BHP Billiton’s (LON:BLT) large scale and long life resources are “unmatched” in the global mining industry.
Analyst Christopher LaFemina said based on the quality of its resources and growth potential, BHP is the broker’s top pick in the UK mining sector.
LaFemina said: “While most of the mining industry will struggle with declining production and depletion from...
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Lawsuit, trade disputes deepen cloud over cotton →
The cloud over the workings of cotton markets, raised by “incomprehensible” events over the last month, deepened as arbitrators warned of elevated defaults, while trading giant Louis Dreyfus was accused of market manipulation.
Mark Allen, former head of cotton trader at Glencore, filed a lawsuit accusing Louis Dreyfus Commodities’ Allenberg Cotton and Term Commodities divisions...
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World grain stocks to fall to five-year low - IGC →
The International Grains Council slashed its estimate for world grain stocks at the close of 2012-13 to a five-year low, citing reduced expectations for wheat production and upgraded hopes for corn demand.
The intergovernmental group, which had been expecting global grain inventories to rise over the season, changed its forecast to a 9m-tonne decline, to 360m tonnes – the lowest supply figure...
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US suffers record cancellation of cotton exports →
The US cotton market rang up the latest in a series of records when China walked away from orders for 600,000 running bales of the fibre, leaving merchants with their worst week for cancellations since at least the 1980s.
The US chalked up net export sales cancellations of 602,100 running bales for 2011-12 in the week to last Thursday, the highest figure since records began in 1990, US Department...
