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The
will
proposal
discuss
problems
related
to
export
proceeds and
charging
of
different
freight rates at different rupee-dollar parity by
shipping companies due to non-monitoring of
Foreign Exchange Policy by the central
bank.He discussed the issue while talking to a
REAP delegation that met him on Thursday
and discussed different issues of the rice
industry.
For the document, Usman asked REAP to
include rice as a traditional item in zero-rated
sales tax regime like textile, leather, surgical
goods, sports goods and carpet industrial subsectors.He asked the association members to
prepare the proposal ahead of State Bank of
Pakistan governors scheduled visit to FPCCI
shortly.He also urged the shipping companies
to reduce container charges for rice as it is a
low-value and high volume item compared to
other value-added goods like textile.Usman,
responding to the poor services extended by
the container terminal operators (CTOs)
during examination of goods by Anti Narcotic
Force (ANF) at ports, informed that the
FPCCI had recently organised two joint
meetings of all the stakeholders involved in
these processes at ports.During the meeting,
traders, regional directorate of ANF; port
operating companies (KICT, PICT and QICT),
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Soybeans
High
Low
981
1003
Riceland Foods
Cash
Bids
New
Crop
Stuttgart:
1033
Stuttgart: 992
Pendleton:
1033
Pendleton: 997
Futures:
Nov
'14
Jan
'15
Ma
r
'15
Ma
y
'15
Jul
'15
Aug
'15
Sep
'15
Nov
'15
Jan
'16
High
1044.00
Low
1012.
25
1011.
50
1016.
00
Last
1031.0
0
1028.0
0
1032.2
5
Change
+10.50
1048.00
1020.
75
1036.5
0
+7.25
1051.25
1024.
75
1025.
50
1008.
25
996.5
0
1005.
00
1039.5
0
1038.5
0
1019.5
0
1006.7
5
1012.5
0
+6.50
1040.50
1044.50
1049.25
1029.50
1017.00
1020.25
+8.75
+8.00
+5.25
+3.25
+2.75
+2.75
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Soybean Comment
583.50 -3.50
577.50 -4.00
Wheat Comment
Wheat prices fell sharply today as it had a
disappointing export report today. Today's slow
exports again has traders worried that the U.S. will
not be able to meet this years export forecast. With
the already weak exports forecast, it would be very
bearish for prices if the U.S. failed to meet
forecast.
Grain Sorghum
Wheat
Cash Bids
New Crop
High Low
440
Cash Bids 480
496
New Crop 541
Low
350
403
Futures:
Dec
'14
Mar
'15
May
'15
Jul
'15
Sep
'15
Dec
'15
Mar
High
411
433
High
528.00
Low
Last Change
520.00 520.25 -4.50
539.00
545.75
552.25
561.25
574.50
Corn
Cash Bids
New Crop
High
380
401
Low
320
360
579.00 -3.75
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High
Low
Last Change
374.50 366.50 371.25 +1.00
387.00 379.50 384.00 +1.00
395.25
402.00
411.25
420.25
399.75
406.50
416.50
425.25
+1.25
+1.75
+2.50
+2.50
Cotton Comment
Cotton futures ended the day with small gains.
Technically, December is still consolidating
between support near 62 cents and resistance at 66
cents. March continues to consolidate in a narrow
range above support at 61.20 cents. Harvest
pressure will limit the upside as farmers are in full
swing picking the crop.
Rice
Corn Comment
Corn prices managed to put in marginal
gains today thanks to strength in soybeans.
Corn prices were pressured most of the day
by a disappointing export sales report. Sales
need to strengthen as increased competition
is limiting new crop corn sales. With South
American prices now more than a dime
lower than U.S. And cheaper (lower quality)
Ukrainian corn entering the market. If the
U.S. exports do not pick up we could see the
USDA lower its export forecast, and thus
increase carryover in coming reports (likely
December or January). This would be
bearish for prices and could push 2015
prices back below $4.
High
-----
Low
1146/cwt
1136/cwt
Futures:
High
Low
Last Change
Nov 1216.0 1188.0 1184.0 -31.5
'14
Jan 1242.5 1205.0 1209.0 -32.5
'15
Mar 1269.0 1235.0 1236.0 -32.5
'15
1262.0 -32.0
May
'15
1280.0 -32.0
Jul
'15
1216.5 -32.0
Sep
'15
1206.5 -32.0
Nov
'15
Cotton Futures:
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Cattle
Futures:
Live Cattle:
High
Low
Last
166.45
0
167.30
0
166.27
5
156.60
0
154.02
5
165.07
5
165.92
5
165.25
0
155.67
5
153.35
0
165.55
0
166.55
0
165.90
0
156.35
0
153.90
0
155.17
5
155.35
0
154.37
5
154.65
0
154.90
0
154.27
5
155.25
0
155.35
0
154.55
0
153.65
0
+0.600
Chang
e
+1.100
Dec
'14
Feb
'15
Apr
'15
Jun
'15
Au
g
'15
Oct
'15
Dec
'15
Feb
'16
Apr
'16
Feeders:
High
Low
Last
236.87
5
231.10
0
228.65
0
228.67
5
228.60
235.70
0
230.20
0
227.67
5
227.85
0
227.97
236.87
5
230.97
5
228.45
0
228.57
5
228.52
Nov
'14
Jan
'15
Mar
'15
Apr
'15
Ma
Chang
e
+0.350
+0.475
+0.650
+0.725
+0.550
+0.450
+0.300
y
'15
Aug
'15
Sep
'15
Oct
'15
229.07
5
227.00
0
226.25
0
228.40
0
226.80
0
226.00
0
228.87
5
227.00
0
225.80
0
+0.750
+0.800
+0.250
Arkansas Prices
Charlotte Livestock Auction
Green Forest Livestock Auction
Ratcliff Livestock Auction
Oklahoma City
El Reno Livestock Market, El Reno, OK
Cattle Comment
Cattle prices saw modest gains on some
short covering by traders. The market
continues to hold support near 165, and
while grain prices have increased in recent
weeks, prices appear to be having difficulty
maintaining gains and the outlook is for
lower prices longer term. With continued
strong fundamentals look for prices to
strengthen and in new highs in the coming
weeks
Hogs -Futures:
+0.050
+0.775
+0.900
+0.750
High
Low
Last Change
Dec '14 88.150 87.125 88.125 +1.000
Feb '15 87.450 86.625 87.400 +0.650
88.875 88.075 88.875 +0.775
Apr
'15
90.500 90.400 90.475 +0.475
May
'15
Jun '15 93.950 93.350 93.925 +0.575
Jul '15 92.800 92.150 92.800 +0.250
90.500 90.000 90.500 +0.300
Aug
'15
Oct '15 78.000 76.700 77.425 -0.775
Dec '15 74.250 73.275 73.300 -0.200
+0.700
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By Tim Cocks
LAGOS, Nov 6 (Reuters) - Nigeria enjoys a
perfect rice-growing climate over a vast area
yet it is the world's second biggest importer
of the staple, often from countries in its
warm, wet tropical latitude like top exporter
Thailand.It's one of those baffling Nigerian
paradoxes, like the fact that it is Africa's top
oil producer yet suffers frequent fuel
shortages; or that it is sitting on the world's
eighth largest gas reserves but can only
produce a few hours of power a day.As with
the other bottlenecks holding back Africa's
biggest economy, decades of bad
governance and corruption lie at the root of
Nigeria's agricultural dysfunction.But unlike
oil, where reform remains deadlocked by
vested interests, the government is making
serious efforts to clean up the farming sector
and attract investment.
Africa's richest man Aliko Dangote thinks
he can resolve the rice conundrum. He plans
to do this by investing in farmland and
mechanising farming practices in a country
where many farmers still depend on preindustrial tilling techniques.Given his track
record in other areas, this is a project to
watch.
GET LAND, ADD WATER AND SOW
"Everything you need for rice is here, but
unfortunately for a long time no one was
interested," he told Reuters in a telephone
interview. Not having enough land was the
first obstacle that faced him after he thought
of the idea.
He was surprised at how easily that got
solved, as the governments of Jigawa, Niger,
Kebbi, Edo and Kwara states between them
offered 50,000 hectares to Dangote
Industries.
* Seeks
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