News Bites

14/01/11 -- News snippets that may be of interest this morning:

  • The People's Bank of China has raised reserve requirements 50 basis points in a further effort to curb inflation

  • January CBOT contracts for soybeans, meal and oil expire tonight

  • Reuters report that some Chinese buyers with US DDGS on their books are attempting to cancel their contracts for fear that Chinese authorities will introduce punitive anti-dumping levies on the commodity in March

  • Drought continues in the North China Plain wheat belt, with no relief in the 7-day precipitation outlook

  • The Baltic Dry Index, the benchmark guide to drybulk shipping rates on 40 routes around the world, has fallen to it's lowest in almost two years as the Australian floods disrupt shipping

  • The Rhine was closed to traffic yesterday after a barge carrying 2,000 MT of sulphuric acid sank just north of Mainz