Paul Morris News
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Commodity exports from Australia, the largest shipper of coal, iron ore and wool, may gain 14 percent to a record next financial year, driven by rising prices, according to the federal government’s forecaster.
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As wet snow started falling around 11 p.m. yesterday, an art party was just ending at the Ace Hotel in Manhattan with the help of a performer who calls himself Jealous Orgasm.
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Australia, the largest shipper of coal, iron ore and wool, cut its forecast for commodity exports this fiscal year on poor crop weather and a reduction in forecast growth of gold, iron ore and coking coal shipments.
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Cotton production in Australia, the fourth-largest shipper, may reach a record next year after rains filled dams, while sugar output may gain even after cyclone and flood damage, according to the government’s commodity forecaster.
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Wheat crops worldwide will probably decline 2 percent in the year starting July 1 as yields return to average after record production, said Australia’s government commodity forecaster.
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Wheat exports from Australia, the second-biggest supplier last year, will probably decline 5 percent in the year starting July 1 even as the crop increases because of higher plantings, a government forecaster said.
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Australia, the second-biggest wheat exporter last season, raised its production forecast after farmers completed a harvest that’s helping ease global supply woes amid concerns drought will erode the U.S. crop.
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The value of minerals and energy projects being developed in Australia rose 21 percent in the past six months to a record, boosted by liquefied natural gas and iron ore investments, the nation’s commodity forecaster said.
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Wheat production in Australia, the fourth-largest shipper, may total 26.2 million metric tons in 2011-2012, 7.8 percent more than forecast and in line with last year’s harvest as favorable weather aids the crop.
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Wheat production in Australia, the world’s second-biggest shipper, may drop 13 percent from a record as farmers switch to barley and canola on better returns, a government commodity forecaster said.
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