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Chicago soybean,[link widoczny dla zalogowanych], corn hit 30-month high
Chicago soybean and corn both hit a 30-month high on Wednesday, buoyed up by Argentina's port worker strike,[link widoczny dla zalogowanych], which has significantly disrupted the country's crop shipment. Wheat prices also strongly rebounded after Tuesday's drop.
The most active corn contract for March delivery gained 3.25 cents,[link widoczny dla zalogowanych], or 0.49 percent,[link widoczny dla zalogowanych], to 6.6925 U.S. dollars per bushel. March wheat hiked 27.25 cents, or 3.26 percent,[link widoczny dla zalogowanych], to 8.63 dollars per bushel. March soybean rose six cents,[link widoczny dla zalogowanych], or 0.42 percent,[link widoczny dla zalogowanych], to 14.38 dollars per bushel.
Market traders noted that Argentine port workers, who have been on strike since the prior week, are blocking dozens of ships from the country's main terminals Alberto Jacobson. As a result, buyers have to turn to the United States for corn and soybean.Argentina is the world's second largest exporter of corn and third largest soybean supplier.
Meanwhile, wheat staged a strong rebound in the day, as the market worried that cold weather could damage the winter wheat crop in the United States. According to weather forecast,[link widoczny dla zalogowanych], bitter cold weather is moving into the plains for the next few days.Besides,[link widoczny dla zalogowanych], market talks that North Africa and Middle East countries would continue to stock up on food items added to the positive tone. Wheat has climbed 7.1 percent so far this year on increased demand.
New Sino-Russian pipeline delivers 1.3 mln tonnes of crude oil in 1st month
Some 1.318 million tonnes of crude oil had flowed through an oil pipeline from Russia's far-east to China by Jan. 31, a month after the pipeline began operating,[link widoczny dla zalogowanych], an officer of the Chinese operator of the pipeline said.The pipeline,[link widoczny dla zalogowanych], which originates in the Russian town of Skovorodino in the far-eastern Amur region,[link widoczny dla zalogowanych], enters China at Mohe and terminates at Daqing City of northeast China's Heilongjiang Province.
The facility withstood the test of the severe coldness since it was put into operation on Jan. 1 and no production accident has been reported so far, said Gou Hanghai,[link widoczny dla zalogowanych], director of the Mohe administration station of the pipeline.The pipeline remains a daily oil delivering capacity of 42,000 tonnes,[link widoczny dla zalogowanych], he said
The 1,000-km-long pipeline will transport 15 million tonnes of crude oil from Russia to China per year from 2011 to 2030, according to an agreement signed between the two countries.Some 72 kilometers of the pipeline is in Russia and 927 kilometers of it is in China.
Greek police on alert for possible new parcel bombs
Greek police is on alert for a possible new string of attacks with parcel bombs, after the detonation of a booby-trapped package at the Justice Ministry building in Athens on Wednesday,[link widoczny dla zalogowanych],[link widoczny dla zalogowanych], local media reported.According to reports, the suspicious package which was spotted and detonated by experts at the ministry building earlier on Wednesday, did contain a bomb device after all.
Police sources said the parcel was addressed to Justice Minister Haris Kastanidis and it was similar to the parcel bombs sent to a dozen foreign embassies in Athens and European leaders, including German Chancellor Angela Merkel,[link widoczny dla zalogowanych], French President Nicolas Sarkozy and Italian Prime Minister Silvio Berlusconi,[link widoczny dla zalogowanych], last November.The Greek guerilla group "Conspiracy of the Nuclei of Fire" has claimed responsibility for those attacks which caused the slight injury of a citizen.
No injury occurred on Wednesday and no group has claimed responsibility yet,[link widoczny dla zalogowanych], but local analysts said that "Conspiracy of the Nuclei of Fire" has threatened with further attacks against judicial,[link widoczny dla zalogowanych], political and police targets,[link widoczny dla zalogowanych], as a dozen of suspected members of the group are currently on trial for a third week in Athens.Greece has a decades-long history of domestic terrorism.