Rains in China’s northeast provinces, the country’s top grain-growing region, are helping the growth of corn and soybeans, Grain.gov.cn said.
Copper for delivery in three months declined 0.2 percent to $8,175 a metric ton on the London Metal Exchange, falling for the first time in five days.
Copper declined for the first time in four days to a four-month low as concern that Greece may quit the euro region outweighed a report showing an improvement in U.S. home sales.
Cotton planting in China, the biggest producer and consumer, has dropped about 10 percent in major growing regions as labor costs increased, cutting profits, according to an industry association.
A rally in soybeans is spurring Japan, Asia’s second-largest buyer, to seek record imports of palm oil, which is displacing soybean oil in margarine to potato chips.
Japan’s shipments of rolled-aluminum products expanded 1.4 percent in April, the third straight month of increase, as demand from automakers surged.
China, the world’s biggest grain consumer, may begin buying corn from Argentina soon, Norberto Yauhar, the South American nation’s agriculture minister, said.
Japan is seeking to buy 152,846 metric tons of milling wheat from the U.S. and Canada in a regular tender on May 24, the Ministry of Agriculture, Forestry and Fisheries said today.
Aluminum buyers in Japan, Asia’s biggest importer, were asked to accept a 57 percent increase in fees starting in July, as supply decreased after smelters cut output and China boosted purchases.
Restrictions on nickel-ore exports by Indonesia may force Japan, the world’s third-largest producer of refined metal, to source raw material from other suppliers or reduce output, Sumitomo Metal Mining Co. said.