South Korean mills buy 50,000 T wheat from U.S., traders state

Related News

• Australia's Northern Territory queries Chinese operator of Darwin Port over financial resources

  Australia's Northern Territory federal government said on Wednesday it has composed to Chinese business Landbridge, operator of Darwin Port, about its financial obligations and will talk about the future of the port with the federal government. Landbridge has a 99-year lease on the commercial port in Australia's northern city, Darwin, which also hosts a rotating force of 2,000 U.S. Militaries and Australian flying force and naval bases that have actually become crucial to Australia's defence technique. Northern Territory Treasurer Costs Yan stated the government had actually written to Landbridge seeking additional info about their monetary status, and capability to fulfill their payment commitments. This info would guide the federal government's next steps on the operation of the port, he added. Darwin Port stated its parent business was offloading assets in China to avoid offering the port. Darwin Port stays a key asset of the group, noting its current performance, continued strong growth potential customers as a. entrance to Asia, and its favorable contribution and engagement. with the regional economy, non-executive director Terry O'Connor. stated in a statement. Yan will go over the matter with Infrastructure Minister. Catherine King, in the capital, Canberra, on Thursday. The Northern Territory is evaluating our rights, and our. future action will be made in the very best interests of. Territorians, he said. The awarding of the port agreement to Landbridge in 2015 in a. A$ 506 million ($ 390 million) offer came a few years after the. United States published the first of a rotating group of U.S. Marines in Darwin, and was criticised by the administration of. then-President Barack Obama. The size and scope of U.S. military rotations through. northern Australia, and the tactical value of northern. bases, has actually been enhanced after an Australian defence evaluation last. year said China was carrying out the biggest military accumulation of. any nation since completion of World War Two.

• Taiwan's MFIG purchases about 65,000 T corn from U.S., traders state

  Taiwan's MFIG getting group bought about 65,000 metric tons of animal feed corn expected to be sourced from the United States in an international tender on Wednesday, European traders said. Seller was thought to be trading house ADM. The yellow corn was purchased at an approximated premium of 164.05 U.S. cents a bushel cost and freight (c&& f) consisted of over the Chicago Board of Trade May corn contract, they stated. Delivery was sought in 2025 between Feb. 4 and Feb. 23, if the corn is sourced from the U.S. Gulf, Brazil or Argentina, traders said. If sourced from the U.S. Pacific Northwest coast or South Africa, delivery was looked for in between Feb. 19 and March 10. U.S. corn dominated the tender, with 11 other trading houses likewise providing U.S. corn at premiums over Chicago varying from 172.00 to 183.00 cents c&& f, they stated. One offer for 65,000 lots from Argentina was stated to have actually been submitted by Viterra at a premium of 210.44 cents over Chicago. No deals were reported for Brazilian or South African corn. Reports show evaluations from traders and even more price quotes of prices and volumes are still possible later.

• China's cut to coal power share is a rare however crucial climate win: Maguire

  China's power firms are on track to cut coal's share of annual electrical energy generation to below 60% for the very first time in 2024, which would mark a major turning point in the nation's efforts to transition energy production far from fossil fuels. Lowered coal reliance by the world's second-largest economy is a rare brilliant area this year for climate trackers, who were disappointed by the recent COP29 conferences and are bracing for the United States' withdrawal from the Paris Accord next year. And given that China's outright levels of coal-fired generation are at record highs and still increasing, the decrease in coal's share of China's power mix might appear irrelevant. However as China represent roughly 40% of all power emissions from fossil fuels, sustained reductions to coal's usage in Chinese power production are vital if worldwide contamination patterns are to be reversed. That indicates that China's coal-cutting efforts have global consequences, which when paired with its unequaled tidy energy influence can accelerate worldwide energy shift momentum even without aid from other nations. COAL CUTS Out of the 8,234 terawatt hours (TWh) of total electrical power generation in China over the very first 10 months of 2024, coal plants produced 4,838 TWh or 58.7%, according to Cinder. That outright coal generation total is a brand-new high, however the share is down from 61.6% over the very same months in 2023 and is the lowest this century. Coal-fired output is likely to get as winter sets in and increases warming demand, but power firms could still restrict coal's. share of full-year electrical power output to listed below 60% due to greater. wind power output and suppressed commercial activity. A sub-60% coal share in electrical power production would push. China listed below India and Indonesia among major coal-dependent power. systems, and highlight the development Beijing has actually made in. diversifying the nation's power system beyond fossil fuels. WIND AND ECONOMY Two aspects will be type in determining whether coal's share. of total generation will remain listed below 60%: The degree of wind. power generation throughout the winter season, and the growth rate. of the country's commercial economy. Wind-powered electricity generation through the opening 10. months of 2024 was 799 TWh, which is a new peak and 13% more. than over the very same period in 2023 due to higher wind generation. capacity. The annual peak for Chinese wind generation tends to come in. November and December, when wind speeds pick up at turbine level. across the nation's mammoth wind farms. Greater late-year generation helps enhance wind power's share. of the generation mix, which peaked at around 11% of total. electricity production in November and December last year. This year, the greater capability footprint has meant that wind. farms currently generated 11.1% of electrical power in October, and. might produce more than 12% of the national overall in November. and December if wind speeds follow seasonal averages. INDUSTRIAL DEVELOPMENT The scale and direction of Chinese industrial activity in. late 2024 will likewise affect coal usage by power generators. Up until now in 2024, an enduring credit crunch among residential or commercial property. developers has actually suppressed the production of construction-related. materials such as cement, steel rebar and ceramics. That in turn has suppressed power usage by those energy-intensive. sectors, and reduced total energy consumption. Those remaining struggles have actually raised expectations that. Beijing will dial up stimulus efforts focused on restoring economic. activity, possibly before year-end. However, Beijing is not likely to target fresh quick development in. building and construction activity while there remains a huge overhang of. unsold residential or commercial properties and while potential purchasers stay wary of. even more potential residential or commercial property cost falls. Instead, Beijing is likely to target supporting consumer. confidence by stimulating production amongst markets with big. export markets, such as manufacturers of electric automobiles,. batteries and electronics. Those industries are already encouraged to lift sales over. the near term to capture heightened consumer demand in Europe. and The United States and Canada ahead of Christmas, and before incoming U.S. President Donald Trump raises fresh tariffs on items imports. If Beijing does decide to assist those markets, that would. result in higher overall power usage, however by markets that are. heavy electrical energy consumers rather than smokestack plants that. need their own sources of commercial power. That in turn implies that power suppliers will likely be able. to satisfy any resulting rise in need from the anticipated climb in. wind output and from fairly steady coal-fired generation, and. may keep coal's share of the annual power mix to a record low. The opinions expressed here are those of the author, a. market analyst .

• South Korean mills buy 50,000 T wheat from U.S., traders state

  A group of South Korean flour mills purchased an estimated 50,000 metric lots of wheat to be sourced from the United States in a tender on Tuesday, European traders said. The purchase included a series of different wheat types for delivery in 2025 between Feb. 10 and March 10 and was all made on FOB (totally free on board) terms. The purchase made up soft white wheat with 9.5-11% protein content purchased in the high $220s a ton FOB, soft white wheat with 9% optimum protein bought in the low $230s, hard red winter wheat with 11.5% protein bought in the mid $240s a lot and northern spring wheat with 14% protein purchased in the low $ 270s a ton, traders said. Reports reflect assessments from traders and further quotes of prices and volumes are still possible later.

• India's Andhra Pradesh state likely to suspend Adani power deal, sources say

  India's Andhra Pradesh state is likely to suspend a power purchase deal connected to Adani Group due to the U.S. indictment of the group's billionaire creator Gautam Adani over an alleged bribery scheme, 2 state federal government sources said. The southern state will ask the federal government and the Solar Energy Corporation of India, which awards power supply contracts to companies like Adani, to investigate the charges, the sources said. The suspension, likely to be revealed soon, would be the initially such action by an Indian state federal government after U.S. district attorneys charged Gautam Adani and 7 others with concurring to pay kickbacks of $265 million to unknown Indian government officials to get solar power-supply contracts. The majority of the supposed bribes - $228 million - were paid to a. government official to get Andhra Pradesh's state electrical energy. distribution business to consent to acquire power, the U.S. indictment stated. Adani has stated the claims are baseless. The power supply to Andhra Pradesh under the arrangement was. scheduled to start from next year, according to among the. sources. The choice will be taken soon, the 2nd source. stated about the planned suspension. Adani Group and the Andhra Pradesh government did not. right away reply to Reuters ask for remark. Reuters reported earlier on Tuesday that Andhra Pradesh was. exploring the possibility of cancelling a power supply agreement. connected to Adani Group. Andhra Pradesh's previous ruling party - YSR Congress Party. - under whose administration the supposed misbehavior happened,. recently rejected any wrongdoing.

• South Korea's NOFI buys estimated 133,000 T corn, traders say

  Leading South Korean animal feed maker Nonghyup Feed Inc. (NOFI) bought an approximated 133,000 metric lots of animal feed corn in a worldwide tender on Tuesday, European traders said. The corn was bought in two consignments for March 2025 arrival in South Korea and was expected to be sourced additionally from either the United States, South America or South Africa. The very first consignment of around 68,000 tons was purchased an approximated outright cost of $236.19 a load cost and freight (c&& f). consisted of plus a $1.50 a lot additional charge for extra port. dumping. Seller was thought to be trading house Cofco. The very first corn consignment was sought for arrival around. March 1. If sourced from the U.S. Pacific Northwest coast, delivery. is sought for Jan. 27-Feb. 15, if from the U.S. Gulf for Jan. 7-Jan. 26, from South America between Jan. 2 and Jan. 21 or from. South Africa in between Jan. 12 and Jan. 31. The second consignment of 65,000 loads was bought at an. approximated outright rate of $235.99 a load c&& f plus a $1.25 a heap. additional charge for additional port unloading. Seller was believed to. be trading home Pan Ocean. The 2nd consignment was sought for arrival around March. 5. If sourced from the U.S. Pacific Northwest coast delivery is. for Jan. 31-Feb. 19, from the U.S. Gulf in between Jan. 11 and Jan. 30, from South America for Jan. 6-Jan. 25 or from South Africa. between Jan. 16 and Feb. 4. Reports show evaluations from traders and further. quotes of rates and volumes are still possible later on. South Korea's FLC likewise bought 65,000 lots of corn in a. private deal on Monday, traders stated on Tuesday.

• Sweden urges Chinese ship to return for undersea cable examination

  Sweden is asking a. Chinese vessel to return to Swedish waters to assist facilitate. the Nordic nation's investigation into recent breaches of. undersea fibreoptic cable televisions in the Baltic Sea, Prime Minister. Ulf Kristersson stated on Tuesday. 2 subsea cable televisions, one connecting Finland and Germany and the. other connecting Sweden to Lithuania, were harmed in less than. 24 hr on Nov. 17-18, raising suspicions of sabotage,. nations and companies involved stated. Denmark's military said quickly afterwards that its vessels. were remaining near to Chinese bulk carrier Yi Peng 3, which. taken a trip through the Baltic Sea at the time and now sits idle. in international waters but inside Denmark's special financial. zone. The breaches took place in Sweden's unique financial zone,. leading Swedish prosecutors to launch an initial. examination. From the Swedish side we have actually had contact with the ship and. contact with China and stated that we want the ship to move. towards Swedish waters, Kristersson told an interview. The Chinese ship left the Russian port of Ust-Luga on Nov. 15 and remained in the areas where the cable damage took place,. according to traffic information, which revealed other ships had also. remained in the location. We're not making any accusations however we look for clearness on. what has actually happened, Kristersson said. This is the 2nd time in a fairly short period of. time that there have been major physical cable television breaches, he. stated. Sweden was confident that China would respond positively to. the request, Kristersson included. China's foreign ministry stated on Monday that Beijing has. maintained smooth communication with all celebrations included. Last year a subsea gas pipeline and a number of telecoms cable televisions. running along the bottom of the Baltic Sea were badly. damaged, and Finnish authorities have actually stated they think the event. was brought on by a Chinese ship dragging its anchor. However the private investigators have not said whether they think the. damage in 2023 was unintentional or deliberate.

• South Korea's NOFI tenders to purchase up to 138,000 T corn

  Leading South Korean feedmaker Nonghyup Feed Inc. (NOFI) has provided an international tender to acquire approximately 138,000 metric tons of animal feed corn, European traders stated on Tuesday. The due date for submission of cost offers in the tender is likewise Tuesday, Nov. 26. Arrival of the corn in South Korea is looked for in two consignments of 45,000 to 69,000 loads, both in March, 2025. It is thought the corn was sought sourced only from the United States, South America or South Africa, traders stated. The first corn consignment was sought for arrival in South Korea around March 1. If sourced from the U.S. Pacific Northwest coast, shipment is sought for Jan. 27-Feb. 15, if from the U.S. Gulf for Jan. 7-Jan. 26, from South America between Jan. 2 and Jan. 21 or from South Africa between Jan. 12 and Jan. 31. The 2nd corn consignment is sought for arrival in South Korea around March 5. If sourced from the U.S. Pacific Northwest coast delivery is for Jan. 31-Feb. 19, from the U.S. Gulf in between Jan. 11 and Jan. 30, from South America for Jan. 6-Jan. 25 or from South Africa between Jan. 16 and Feb. 4. Sellers can choose the origin and tonnage they will supply. Deals were sought both in outright rates per heap c&& f. and at a premium over the Chicago March 2025 corn agreement. , traders stated. South Korea's FLC also purchased 65,000 lots of corn in a. personal deal on Monday, traders said on Tuesday.

• Japan's space agency halts Epsilon S rocket engine test after fire

  Japan's area company terminated an engine test for the Epsilon S rocket on Tuesday following a. fire at the test site, a failure that might push the rocket's. launching launch beyond the Marchend target and cause even more. hold-ups in the nationwide space programme. A surge might be heard and a blaze might be seen. soon after the ground combustion test started at the. Tanegashima Space Center in southwestern Japan, according to. footage from public broadcaster NHK. The Japan Aerospace Expedition Agency (JAXA) said the. engine test experienced a combustion abnormality 49 seconds. after the ignition. It said there was no indication of injury or. damage to the outdoors center. JAXA will perform a thorough investigation into the cause. of the problem and consider countermeasures, Chief Cabinet. Secretary Yoshimasa Hayashi stated at a routine press instruction. Hayashi, the leading federal government representative, stated rocket. advancement is very important to guarantee the autonomy of. Japan's space program. JAXA partnered with the aerospace system of heavy equipment. maker IHI to establish Epsilon S, the next generation in. the Epsilon solid-fuel small rocket series. Shares in IHI were down as much as 6% in Tokyo trade. An IHI. Aerospace spokesperson said the company is examining the. cause. Epsilon S's debut flight was slated by the end of the fiscal. year through March 31 depending on the success of Tuesday's. engine test. The test was performed after previous failures triggered. months of investigation that have actually postponed space objectives and. satellite launch strategies. In July in 2015, an Epsilon S engine test failed due to. thermal damage to its ignition systems. That followed a launch. failure in 2022. JAXA's bigger flagship rocket H3, constructed by Mitsubishi Heavy. Industries, stopped working at its very first launch last year but. has been successful in 3 flights this year, launching Japanese. satellites and winning orders consisting of from French satellite. operator Eutelsat. The H3 and Epsilon S are central to JAXA's ambition to develop. cost-competitive rockets amidst the rise of American commercial. launch suppliers such as market leader SpaceX and little rocket. maker Rocket Lab. In the private sector, IHI-backed Space One is set to. try the second launch of its Kairos small rocket on Dec. 14. after the very first flight blew up in March. It intends to become the. first Japanese organization to put a satellite in orbit.

• United States rejects bid to reconsider new vehicle automated emergency braking rules

  The U.S. National Highway Traffic Security Administration said on Monday it will not reconsider a landmark rule settled in April requiring nearly all new cars and trucks by 2029 to have actually advanced automated emergency braking systems. The Alliance for Automotive Innovation, representing General Motors, Toyota Motor, Volkswagen and other automakers, had actually stated the requirement that all cars and trucks and trucks need to have the ability to stop and prevent striking automobiles in front of them at as much as 62 miles per hour (100 kph) is virtually. impossible with available technology and had asked the agency. to reevaluate it. NHTSA on Monday declined the request however stated it was. clarifying some technical requirements and fixing a mistake. in the test situation for an obstructed pedestrian crossing the. road. The new safety rule is one of the most far-reaching U.S. car safety policies recently. NHTSA said in April the. rule will conserve a minimum of 360 lives annually and avoid a minimum of. 24,000 injuries as traffic deaths surged after the COVID-19. pandemic. Alliance CEO John Bozzella called the decision incorrect on the. merits. Wrong on the science. Really a dreadful decision by. the nation's leading traffic safety regulator that will constantly--. and needlessly-- frustrate chauffeurs; will make lorries more. pricey and at the end of the day ... won't actually enhance. driver or pedestrian security. Bozzella wrote to President-elect Donald Trump urging him to. reconsider the regulation. Congress directed NHTSA in the 2021 facilities law to. develop minimum performance standards for automated emergency situation. braking systems, which utilize sensing units like cams and radar to. spot when a vehicle is close to crashing and after that. immediately uses brakes if the motorist has actually refrained from doing so. In 2016, 20 automakers voluntarily accepted make automatic. emergency braking standard on almost all U.S. lorries by 2022. and by December all 20 had actually equipped at least 95% of lorries. with AEB, however critics state there is no chance to guarantee. efficiency without federal government regulations. NHTSA in March 2023 proposed needing automobiles comply in. three years, however car manufacturers are now getting five years.

• India's Andhra Pradesh mulls next actions on Adani, if power deal can be ditched

  India's Andhra Pradesh state is evaluating federal government files and will explore if it is possible to cancel a power supply agreement connected to the Adani Group, whose billionaire creator has been indicted in the United States, a leading authorities told Reuters. U.S. authorities have actually charged Gautam Adani and seven others with agreeing to pay allurements of $265 million to unnamed Indian government officials to obtain solar power-supply agreements in Odisha, Tamil Nadu, Chhattisgarh, Andhra Pradesh and the federal territory of Jammu and Kashmir, in between 2021 and 2022. Most of the alleged kickbacks - $228 million - were paid to a. federal government official to get Andhra Pradesh's state electricity. circulation business to accept buy power, stated the. U.S. indictment. Adani has stated the claims are unwarranted. Andhra Pradesh's state federal government was digging into all the. internal files from the previous administration, under which. the alleged misbehavior happened, state Finance Minister. Payyavula Keshav informed Reuters on Monday. We will likewise analyze what can be done next, like exists a. possibility to cancel the contract ... state government is. checking out this problem carefully, Keshav stated. A representative for the Adani Group did not right away. react to a request for remark outside regular business hours. The previous Andhra Pradesh ruling celebration, YSR Congress. Party, last week denied any misdeed. The U.S. indictment document said that following payment of. alleged allurements to Indian officials, Andhra Pradesh's electrical power. distribution business entered into a power supply agreement to. purchase roughly seven gigawatts of solar energy - by far. the biggest amount of any Indian state or area. The U.S. charges are the most significant obstacle for billionaire. Adani, whose business shares and bonds have actually fallen greatly given that. the indictment. French oil major TotalEnergies, which has a 20%. stake in Adani Green, halted more financial investment into the Adani. Group on Monday.

• Guyana's choice of brand-new US startup faces hurdles to tap vast gas reserves

  Doubts are growing over Guyana's choice of a littleknown U.S. startup to craft and establish jobs to monetize its vast untapped natural gas resources that could cost as much as $30 billion. Year-old Fulcrum LNG deals with financing hurdles that might thwart its selection. Ultimately, the South American country may wind up relying on a consortium led by Exxon Mobil, which controls all the production in the new energy hotspot. So far the top U.S. oil producer has focused on oil. Guyana has been pushing Exxon to come up with a plan to convert its about 16 trillion cubic feet of gas reserves into important exports such as melted natural gas (LNG), or give up locations where gas has been found so they can be established by others. When Fulcrum was picked in June, its creator and previous Exxon executive Jesus Bronchalo stated on LinkedIn he was happy and honored to be selected to style, financing, construct and run the necessary gas facilities. Since then, Fulcrum has actually not recognized any financial backers, casting doubt over its ability to pull off the work, and leading government authorities to now describe its selection as tentative. No task has been awarded to anyone. We're in an exploratory stage, Guyana's Vice President Bharrat Jagdeo informed Reuters last month. That is a modification from the ministry of financing's description of the awarding of the agreement as among its financial accomplishments this year. Guyana's president, who revealed the award, stated an arrangement, that might or might not include Exxon, was anticipated next year. On the other hand, the opposition Individuals's National Congress celebration is hesitant about the award. Fulcrum LNG does not have requisite experience and a demonstrated capability to raise the kind of multi-billion dollar finances needed, stated Elson Low, an economic expert and advisor to the PNC. FULCRUM'S LEVERAGE Guyana selected Nevada-registered Fulcrum LNG, which it stated offered the most extensive and technically sound proposition, amongst the 17 bidders, including China's third-largest oil company CNOOC, U.S. gas pipeline huge Energy Transfer , and the No. 4 U.S. LNG exporter Endeavor Global LNG. Individual retirement account Joseph, an LNG market professional and senior scientist at Columbia University's Center on Global Energy Policy, said it would be extremely difficult for a startup to raise the funding for a multi-billion-dollar infrastructure task. Why isn't Exxon developing the LNG plant itself? It is really hard to raise that kind of cash to make a task work, ( Guyana) would have to bring in among the huge gamers like TotalEnergies or Shell, Joseph said. Besides coupling with U.S. oil service Baker Hughes and construction contractor McDermott, Fulcrum's. proposal would consist of financing from the U.S. Export-Import. Bank and the involvement of personal equity firms and an. ecological partner, the federal government stated. The U.S. Export-Import Bank and McDermott did not respond. to ask for comment, and Baker Hughes referred concerns to. Fulcrum. Bronchalo - who is Fulcrum's CEO, secretary, treasurer,. director and president - and the just other person associated. with the company, the technical director, did not respond to. requests for details. Fulcrum's site does not determine any prior jobs, however. claims comprehensive experience in origination of brand-new chances. to gain access to and capture international LNG markets. Guyanese authorities now say they picked Fulcrum without initially. identifying whether it could raise the cash to tap the massive. gas reserves. The technical committee that chose Fulcrum was positive. it could raise cash for the projects, Jagdeo told Reuters. They represented they had the capability to raise the cash. Minister of Natural Resources Vickram Bharrat stated. Bronchalo's proficiency, having worked at Exxon in Guyana and Asia. for 20 years assisting to negotiate agreements, swung the. selection in his favor. We don't have the knowledge and capability in government,. especially when it pertains to gas ... we expect Fulcrum will have. the capability and experience, he said in an interview in. October. COLLABORATION OR CONFLICT Exxon's consortium with Hess and CNOOC has. discovered more than 11 billion barrels of oil off Guyana's. Caribbean coast given that 2015, and produced 500 million barrels of. crude from its Stabroek block since 2019, turning the tiny. country overnight into a considerable international oil producer. Up until now, Exxon's only scheduled usage for the gas is a little. gas-to-power job. The task to develop gas separately was conceived as a. way for Guyana to produce a new profits stream apart from the. oil, which is totally exported. Gas would establish the country's. production and food sectors and assist make it a local. energy powerhouse. In 2015, the nation's draw from royalties and charges was. $ 1.6 billion, compared to $6.33 billion in profit that went to. the consortium. Exxon's Guyana nation manager Alistair Routledge informed. Reuters the company would decide on tapping more recent. discoveries consisting of primarily gas by mid-2025. Fulcrum may have better data and more understanding than the. government to press Exxon because instructions, stated Guyana's vice. president. Jagdeo stated Guyana desires Fulcrum to work with Exxon, however. would press forward with or without it. If, nevertheless, Exxon does not act on the discoveries or. auction the acreage to others happy to establish the gas, Guyana. could claw back some overseas land, he stated. The oil major, on the other hand, thinks it alone can. choose how to utilize that gas, an individual familiar with the business's. position said, mentioning the contract it has with Guyana. Exxon did suggest that they have an interest in the. development of gas, but as the talks continue, we will see how. much commitment exists in regards to gas, Minister Bharrat. stated.