South America News
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Updated 27 minutes ago
What follows are opening calls for U.S. grain and oilseed markets.
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Updated 27 minutes ago
Soybeans headed for a third week of gains as demand for U.S. supplies rose and drought threatened to curb South American crops.
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Argentine President Cristina Fernandez de Kirchner defused speculation she would announce a takeover of the country’s biggest energy company today during an annual speech to Congress. Shares of YPF SA soared.
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Argentina’s farmers in the Pampas agricultural zone will get more rain next week after abundant downpours alleviated crop damage in February, the Buenos Aires Cereals Exchange said.
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The Standard & Poor’s GSCI gauge of 24 commodities rose 0.5 percent to 706.83 by 5 p.m. in London. The UBS Bloomberg CMCI index of 26 raw materials gained 0.2 percent to 1,649.02.
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Guatemalan President Otto Perez Molina is sparking a bond rally by pledging to tame drug violence that has pushed the murder rate up 60 percent in the past decade and cut into economic growth.
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What follows are opening calls for U.S. grain and oilseed markets.
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Wheat fell for a second day in Chicago on speculation storms in parts of the U.S., the world’s biggest exporter, will boost soil moisture. Soybeans declined, threatening this year’s longest rally.
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Cooking-oil imports by India, the biggest palm oil buyer, will climb as much as 12 percent to a record after dry weather and excessive rain curbed oilseed crops, according to GG Patel & Nikhil Research Co.
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The U.S. exported more gasoline, diesel and other fuels than it imported in 2011 for the first time since 1949, the Energy Department said.
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