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☆ Why Fed officials aren’t addressing the Israel-Hamas war the way they did with Ukraine
▼ + stars: | 2023-10-17 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +7 min

Emma Jones, a spokesperson for the Fed, declined to comment on why many Fed officials, who in the past moved swiftly to acknowledge the war in Ukraine, weren’t addressing the war in Israel. There are some Fed officials who are starting to talk about it, though — albeit only when asked questions. Fed officials see little immediate threat to the US economyAtlanta Fed President Raphael Bostic was the first to speak about the war, at the American Bankers Association’s annual conference last Tuesday. That’s probably why more Fed officials were quicker to acknowledge the war in Ukraine, Dorn said. “I don’t think the Fed wants to look like they’re taking sides,” Dorn added — but said Fed officials could easily talk about it without looking partial.

Persons: Chris Waller, ” Waller, Michael Barr, Philip Jefferson, Michelle Bowman, Lorie Logan, Emma Jones, James Dorn, “, ”, Raphael Bostic, Bostic, Neel Kashkari didn’t, aren't, they're, Al Drago, Susan Collins, ” Collins, Patrick Harker, we’ve, Harker, JPMorgan Chase, Jamie Dimon, ” Dorn, Dorn, There’s, Gregory Daco, Daco Organizations: New, New York CNN, Federal Reserve, ”, Dallas Fed, Fed, Cato Institute, CNN, Atlanta Fed, American Bankers, Minot State University, Minneapolis, Federal, Bloomberg, Getty, ” Boston, Wellesley College, Philadelphia Fed, Delaware State Chamber of Commerce, JPMorgan, Rystad Energy Locations: New York, Ukraine, Russia, Israel, Waller’s, North Dakota, Delaware, Iran, Lebanon, Syria, United States, That’s, Gaza, Hormuz, EY

☆ Breakingviews: Globalization woes create new winners and losers
▼ + stars: | 2023-10-17 | by ( Francesco Guerrera | ) www.reuters.com time to read: +8 min

Over the past seven decades, the world economy has grown 14-fold, powered by a 45-fold expansion in global trade, according to the World Trade Organization. World trade as a percentage of GDP peaked at 61% in 2008. The first is rising geopolitical tensions between the United States and China. The retrenchment is probably going to be gradual: global trade was still worth 57% of world GDP last year. For 2024, the WTO said growth in goods trade would pick up to 3.3%, virtually unchanged from its April estimate of 3.2%.

Persons: Chris Helgren, Joe Biden, Xi Jinping “, ”, Caroline Freund, Aaditya Mattoo, Alen Mulabdic, Michele Ruta, Ursula von der Leyen, it’s, Laura Alfaro, Davin Chor, Dario Perkins, GlobalData’s Perkins, Peter Thal Larsen, Streisand Neto, Thomas Shum Organizations: Warehouse Union, REUTERS, Reuters, World Trade Organization, Economic, Reuters Graphics Reuters, HK, Amperex Technology, European Central Bank, GlobalData, Lombard, Companies, Bureau of Labor Statistics, ECB, Thomson Locations: Vancouver , British Columbia, Canada, Netherlands, United States, China, Beijing, Washington, U.S, Taiwan, Mexico, Vietnam, People’s Republic, Latin America, Chile, Brazil, Ukraine, Geneva

☆ Globalisation woes create new winners and losers
▼ + stars: | 2023-10-17 | by ( Francesco Guerrera | ) www.reuters.com time to read: +8 min

Political Cartoons View All 1211 ImagesThe futures for the S&P 500 and Dow industrials were up less than 0.1%. On Monday on Wall Street, the S&P 500 climbed 1.1% for its best day since the Oct. 7 surprise attack on Israel by Hamas. Financial markets have a history of weakening initially after a geopolitical shock, such as a war, only to revert to longer-term fundamentals. FactSet estimates that earnings per share at S&P 500 companies likely rose 0.4% in the last quarter from a year earlier. Shares of Lululemon jumped 10.3% in their first trading session after S&P Dow Jones Indices said the apparel company will join its widely tracked S&P 500 index.

Persons: Germany's DAX, Dow industrials, Antony, Blinken, ” Robert Carnell, Nicholas Mapa, Brent, ”, Mark Hackett, Johnson, Tesla, Charles Schwab, Dow Organizations: CAC, Nikkei, Hamas, Dow, Nasdaq, ING Economics, New York Mercantile Exchange, Treasury, Financial, Nationwide, Bank of America, Federal Reserve, Dow Jones, Activision Blizzard, Microsoft, U.S Locations: BANGKOK, East, Paris, Asia, Hong Kong, Shanghai, Australia, Thailand, Israel, Gaza, Lebanon, Iran

☆ Indian wheat prices at 8-month high on festival demand, tight supply
▼ + stars: | 2023-10-17 | by ( Rajendra Jadhav | ) www.reuters.com time to read: +2 min

REUTERS/Amit Dave/File Photo Acquire Licensing RightsMUMBAI, Oct 17 (Reuters) - Indian wheat prices surged to an eight-month high on Tuesday, propelled by strong demand for big festivals, limited supplies and as import duty makes overseas buying unfeasible for domestic flour mills. Rising wheat prices could contribute to food inflation. Wheat prices in New Delhi jumped by 1.6% on Tuesday to 27,390 rupees ($329) per metric ton, the highest since Feb. 10. "Festival season demand is driving up wheat prices. As of Oct. 1, wheat stocks in government warehouses stood at 24 million metric tons, sharply down compared with a five-year average of 37.6 million tons.

Persons: Amit Dave, Pramod Kumar S, Sanjeev Chopra, Ashwini Bansod, Bansod, Rajendra Jadhav, Robert Birsel Organizations: Agriculture, REUTERS, Rights, Federation, Phillip Capital India, Ltd ., El, Thomson Locations: Ahmedabad, India, Rights MUMBAI, New Delhi, Ltd . India, Mumbai

☆ Premarket stocks: What the Israel-Hamas war means for US markets
▼ + stars: | 2023-10-17 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

New York CNN —Growing unrest in the Middle East has cast a shadow on global financial markets. Israeli stocks listed in New York and Tel Aviv have sunk to recent lows, underscoring the growing economic uncertainties in the war-torn region and leaving investors unsure of where markets go from here. Funds in the US hold more than $43 billion in Israeli stocks and bonds, according to a Bloomberg tracker. Big names, big exposure: As the war continues, businesses with headquarters, factories and inventory in Israel appear increasingly at risk to geopolitical turmoil. “If the war remains confined between Israel and Palestinians, it’s likely that the markets will forget about it after a few days,” he wrote.

Persons: ”, Steven Schoenfeld, Jamie Dimon, “, Benjamin Netanyahu, Raffi Boyadjian, Sam Stovall, Nathaniel Meyersohn, drugstores, David Silverman, Bill Ford, Vanessa Yurkevich, Ford, Jim Farley, Shawn Fain Organizations: CNN Business, Bell, New York CNN, Nasdaq, Funds, Bloomberg, Hamas, Bank of Israel, JPMorgan, Israel Innovative Technology, Mobileye, Tower Semiconductor, Teva Pharmaceutical, XM, CVS, Walgreens, Walmart, Fitch, Ford Motor Company, United Auto Workers, Big Three, UAW, Monday, Ford Locations: New York, Tel Aviv, New Jersey, Israel, United States, Canada, China, Ukraine, Kippur, Kuwait, Kansas City, drugstores, Rouge, Dearborn , Michigan

☆ CNBC Daily Open: JPMorgan's big profit growth isn’t likely to persist
▼ + stars: | 2023-10-16 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +3 min

What you need to know todayThe bottom lineGoing into this earnings season, analysts feared big banks' income wouldn't hold up from the previous quarters. Net interest income, in particular, was higher than expected. interest rate on their savings, and charge borrowers a high interest rate, usually pegged to the federal funds rate. On the contrary, net interest income rose from a year ago at JPMorgan and Wells Fargo , and beat expectations at Citigroup . Dimon acknowledged that his bank's "over-earning" on net interest income, a benefit that will vanish eventually.

Persons: Michael Nagle, Wells, Jamie Dimon isn't, Dimon, Larry Fink, that's Organizations: JPMorgan Chase &, Bloomberg, Getty, CNBC, . Treasury, JPMorgan, Citigroup, Nasdaq, Dow Jones Industrial, University of Michigan's Locations: New York, Wells Fargo, Ukraine, Israel

REUTERS/Ali Khara/File Photo Acquire Licensing RightsKABUL, Oct 14 (Reuters) - The Taliban will attend China's Belt and Road Forum next week, a spokesman said on Saturday, underscoring Beijing's growing official ties with the administration, despite its lack of formal recognition by any government. Taliban officials and ministers have at times travelled to regional meetings, mostly those focussed on Afghanistan, but the Belt and Road Forum is among the highest-profile multilateral summits it has been invited to attend. China has been in talks with the Taliban over plans, begun under the previous foreign-backed government, over a possible huge copper mine in eastern Afghanistan. Officials from China, the Taliban and neighbouring Pakistan said in May they would like Belt and Road to include Afghanistan and for the flagship China Pakistan Economic Corridor to be extended across the border to Afghanistan. China has boosted engagement with the Taliban, becoming the first country to appoint an ambassador to Kabul since the Taliban took power, and invested in mining projects.

Persons: Mullah Abdul Ghani Baradar, Wang Yu, Ali Khara, Xi, Haji Nooruddin Azizi, Akhundzada Abdul Salam Jawad, Azizi, Akhundzada, Mohammad Yunus Yawar, Charlotte, Joe Cash, William Mallard Organizations: Afghan, REUTERS, Rights, China Pakistan Economic, Taliban, Thomson Locations: China, Islamic Emirate, Afghanistan, Kabul, Rights KABUL, Beijing, Pakistan, China Pakistan, Charlotte Greenfield, Islamabad

"There's increasing evidence that the cyclical upturn in the global electronics sector is driving a bottoming-out of global trade and China's trade data is the latest sign," said Xu Tianchen, senior economist at the Economist Intelligence Unit. Reuters GraphicsSouth Korean exports to China, a leading indicator of China's imports, fell at their slowest pace in 11 months in September. Semiconductors make up the bulk of their trade, signalling improving appetite among Chinese manufacturers for components to re-export in finished goods. However, Lv Daliang, spokesperson of the General Administration of Customs, said at a press conference on Friday that China's trade still faces a complex and severe external environment. Overall, though, total merchandise imports fell at a slower pace, down 6.3%, reflecting a gradual recovery in domestic demand.

Persons: Smart, David Kirton, Xu Tianchen, it's, Julian Evans, Pritchard, Zou Lan, Premier Li Qiang, Li, Robert Carnell, Kevin Yao, Albee Zhang, Shri Navaratnam, Kim Coghill Organizations: Trade, REUTERS, Economist Intelligence Unit, Reuters Graphics South, Semiconductors, Administration of Customs, ASEAN, Federal Reserve, China Economics, Capital Economics, People's Bank of, Premier, Bloomberg, ING, Thomson Locations: Qianhai, Shenzhen, Guangdong, China, BEIJING, United States, Europe, Stocks, People's Bank of China, Beijing, Asia, Pacific

1 corn exporter to Brazil last year when the South American country harvested a breakthrough crop, just months after China gave the green light to Brazilian corn imports. The U.S. Department of Agriculture on Thursday maintained 2023-24 Brazilian corn production at 129 million metric tons, identical to the initial May projection. Conab predicts Brazil’s second corn harvest, which supplies the country's exports, could fall nearly 11% on the year to 91.2 million tons. China, like the United States, is winding down its 2023-24 corn harvest. On an October-September basis, USDA sees 2023-24 Brazilian corn exports at 59 million tons versus 53.7 million in 2022-23, and U.S. shipments are pegged at 52.5 million tons in 2023-24 versus 43 million in 2022-23.

Persons: Farmer Roger Hadley, John Deere, Bing Guan, Conab, Brazil Karen Braun, Karen Braun, Matthew Lewis Organizations: REUTERS, Rights, United, U.S . Department of Agriculture, El, USDA, U.S, USA, Brazil, Reuters, Thomson Locations: Woodburn , Indiana, U.S, Rights NAPERVILLE , Illinois, United States, Brazil, China, USDA, Northern, Southern, Mexico, Japan

☆ China’s narrowing trade slump boosts recovery prospects, but challenges persist
▼ + stars: | 2023-10-13 | by ( ) edition.cnn.com time to read: +4 min

“There’s increasing evidence that the cyclical upturn in the global electronics sector is driving a bottoming-out of global trade and China’s trade data is the latest sign,” said Xu Tianchen, senior economist at the Economist Intelligence Unit. South Korean exports to China, a leading indicator of China’s imports, fell at their slowest pace in 11 months in September. However, Lv Daliang, spokesperson of the General Administration of Customs, said at a press conference earlier on Friday that China’s trade still faces a complex and severe external environment. Yet, authorities can take some comfort from recent data including upbeat factory activity and retail sales while the past Golden Week holiday travel edged up 4.1% from pre-pandemic 2019 levels. Most analysts have been reiterating in recent months that policymakers will need to go further than introducing piecemeal measures in order to bolster the economic recovery.

Persons: ”, Xu Tianchen, Headwinds, it’s, Robert Carnell, “ Organizations: Beijing Reuters —, Economist Intelligence Unit, Semiconductors, Global, Administration of Customs, Bloomberg, ING Locations: Beijing, China, Asia, Pacific

"I just want to say how deeply saddened that we all are about the recent horrific attacks on Israel ... He warned that the war in Ukraine, compounded by the attacks on Israel, could have "far-reaching impacts on energy and food markets, global trade, and geopolitical relationships." On Friday, Citigroup CEO Jane Fraser included Israel in her opening remarks on the bank's earnings call. "Once someone ventures into the space of, 'who is the perpetrator and who is the victim,' you enter into the exposure of social media disinformation and risk," Kotok said. Some large companies including Apple (AAPL.O) and Walmart (WMT.N) had yet to issue statements, while some prominent personalities including NBA star LeBron James have spoken out.

Persons: JPMorgan Chase, Jamie Dimon, Albert Bourla, Jefferies, Michael Bloomberg, Goldman Sachs, Jane Fraser, Israel, Fraser, Larry Fink, David Kotok, Cumberland, Kotok, Antonio Neri, Andy Jassy, Sundar Pichai, Satya Nadella, LeBron James, Gigi Hadid, Lananh Nguyen, Aditya Soni, Stephen Nellis, Siddharth Cavale, David Gaffen, Arriana, Sayantani Ghosh, David Gregorio Our Organizations: JPMorgan, Pfizer, UBS, New York City, Bloomberg, Delta Air Lines, Citigroup, BlackRock, Cumberland Advisors, Hewlett Packard Enterprise, Amazon, Meta, Union, Google, Microsoft, Apple, Walmart, NBA, Thomson Locations: Israel, Ukraine, New York, Florida, Bengaluru

☆ Jamie Dimon warns of the 'most dangerous time' for the world in decades, sounding the alarm on wars, soaring debt, and the Fed
▼ + stars: | 2023-10-13 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

JPMorgan CEO Jamie Dimon sounded the alarm on a series of risks looming over global markets. "This may be the most dangerous time the world has seen in decades," Jamie Dimon said in a JPMorgan earnings press release. Dimon also reiterated concerns of higher interest rates to come, having previously noted 7% levels as a real possibility. Added to that is growing US debt, which has drawn increasing criticism for its potential to worsen interest rates and eventually lead to fallout, if left unchecked. Despite Dimon's concerns, JPMorgan's reported strong third-quarter results, helped by higher interest rates and its acquisition of First Republic Bank earlier this year.

Persons: Jamie Dimon, Dimon, —, JPMorgan's Organizations: Service, Bank, First Republic Bank Locations: Ukraine

☆ Jamie Dimon warns: ‘Now may be the most dangerous time the world has seen in decades’
▼ + stars: | 2023-10-13 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +1 min

New York CNN —JPMorgan Chase CEO Jamie Dimon kicked off third-quarter earnings season Friday with a stern warning to investors: “Now may be the most dangerous time the world has seen in decades,” he wrote in the company’s report. The wars in Ukraine, Israel and Gaza “may have far-reaching impacts on energy and food markets, global trade, and geopolitical relationships.”Still, the world’s largest bank beat analysts’ expectations last quarter. The bank reported earnings of $4.33 per share versus the $3.90 expected by analysts. With nearly $3.9 trillion in assets, JPMorgan Chase is the largest bank in the United States and a bellwether for the US economy. The New York-based bank also reported a 6% drop in investment banking revenue in the third quarter.

Persons: Jamie Dimon, ”, JPMorgan Chase, ” Dimon, Dimon Organizations: New, New York CNN, JPMorgan, Revenue, Investment Locations: New York, Ukraine, Israel, Gaza, United States

"There's increasing evidence that the cyclical upturn in the global electronics sector is driving a bottoming-out of global trade and China's trade data is the latest sign," said Xu Tianchen, senior economist at the Economist Intelligence Unit. Reuters GraphicsSouth Korean exports to China, a leading indicator of China's imports, fell at their slowest in 11 months in September. Global trade activities, represented by the Baltic Dry Index, also reported notable growth in September. However, Lv Daliang, spokesperson of the General Administration of Customs, said at a press conference earlier on Friday that China's trade still faces a complex and severe external environment. China's crude oil imports in September grew nearly 14% from a year earlier, while copper imports fell 5.8% year-on-year.

Persons: Smart, David Kirton, Xu Tianchen, it's, Robert Carnell, Albee Zhang, Shri Navaratnam Organizations: Trade, REUTERS, Economist Intelligence Unit, Reuters Graphics South, Semiconductors, Global, Administration of Customs, ASEAN, Federal Reserve, Bloomberg, ING, Thomson Locations: Qianhai, Shenzhen, Guangdong, China, BEIJING, United States, Europe, Stocks, Beijing, Asia, Pacific

☆ JPMorgan Chase CEO Jamie Dimon warns this is 'the most dangerous time' for the world in decades
▼ + stars: | 2023-10-13 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Jamie Dimon, Chairman of the Board and Chief Executive Officer of JPMorgan Chase & Co., gestures as he speaks during an interview with Reuters in Miami, Florida, U.S., February 8, 2023. JPMorgan Chase delivered strong profits for the third quarter along with a stern warning Friday from its top executive about the perils the world faces from multiple threats. "This may be the most dangerous time the world has seen in decades," CEO Jamie Dimon said in a statement that accompanied the bank's earnings news release. Dimon recently has said that he has been warning clients about the possibility that interest rates may not only stay elevated but also could rise significantly from here. JPMorgan Chase showed a $13.15 billion, or $4.33 a share, profit for the July-through-September period, a 35% jump from a year ago.

Persons: Jamie Dimon, JPMorgan Chase, Dimon Organizations: JPMorgan Chase &, Reuters, JPMorgan, Israel Locations: Miami , Florida, U.S, Ukraine

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy the U.S. bets so big on soybeansSoybeans contributed $124 billion to the U.S. economy in 2022. The versatile crop is used in food and animal feed worldwide. The U.S. was once the No. 1 global producer but has since lost its dominance to Brazil, which has helped push American farmers into such alternative uses as biofuel and bioplastics. Watch the video above to learn more about how the U.S. lost its stronghold in soybean exports, China's influence on that global trade and the future demand of this often overlooked legume.

Locations: U.S, Brazil

☆ The world will pay a high price if China cuts off supplies of chipmaking materials
▼ + stars: | 2023-10-11 | by ( Laura He | ) edition.cnn.com time to read: +7 min

Last year, it accounted for 98% of the global production of gallium and 68% of refined germanium production, according to the US Geological Survey (USGS). “Refining technologies and facilities for processing gallium and germanium cannot be built overnight, particularly considering the environmental implications of their extraction and mining,” she wrote in July. Analysts from the think tank said China’s leading position in the aluminum industry has allowed it to establish a dominant share of global gallium production. According to the USGS, Russia, Japan, and Korea produced a combined 1.8% of global gallium in 2022. Last year, the US Defense logistics Agency introduced a program to recycle optical-grade germanium used in weapon systems.

Persons: Hong Kong CNN —, ”, Xiaomeng Lu, Marina Zhang, Zhang, Ewa Manthey, haven’t, Chris Miller, Gregory Allen, Nyrstar, ” Lu, Manthey Organizations: Hong Kong CNN, geotechnology, Eurasia Group, China, Geological Survey, University of Technology, “, ING Group, Center for Strategic, International Studies, Washington, Analysts, Corporation, CNN, Global, Wadhwani Center, AI, Technologies, CSIS, Rostec, Reuters, US Defense, Agency, Commerce Ministry Locations: China, Hong Kong, Beijing, United States, Europe, Japan, University of Technology Sydney, Kazakhstan, Hungary, Germany, Russia, Korea, Teck, American, Netherlands, Australia, ” Lu, Eurasia, Canada

☆ China to host Belt and Road forum in Beijing Oct 17-18
▼ + stars: | 2023-10-11 | by ( ) www.reuters.com time to read: +2 min

A woman walks in front of a sign at the "Belt and Road" summit in Hong Kong, China September 14, 2023. REUTERS/Tyrone Siu/File Photo Acquire Licensing RightsBeijing, Oct 11 (Reuters) - China will host its third Belt and Road Forum next week, its foreign ministry said on Wednesday, a President Xi Jinping signature event that President Vladimir Putin is due to attend on a rare trip abroad. The conference in Beijing on Oct. 17-18 marks the 10th anniversary of the Belt and Road Initiative (BRI) championed by Xi, with representatives from many developing countries, notably from Latin America and Africa, expected to attend. But critics see the plan - billed as recreating the ancient Silk Road to boost global trade - as a tool for China to spread its geopolitical and economic influence. China had signed Belt and Road cooperation documents with more than 150 countries and more than 30 international organizations, the foreign ministry said.

Persons: Tyrone Siu, Xi, Vladimir Putin, Putin, Liz Lee, Bernard Orr, Ethan Wang, Lidia Kelly, Muralikumar Anantharaman Organizations: REUTERS, Rights, Initiative, Kremlin, Court, ICC, Thomson Locations: Hong Kong, China, Rights Beijing, Beijing, America, Africa, Hague, Ukraine, Kyrgyzstan, Asia, Europe, Russian, Italy, Melbourne

☆ Israel highlights fragility of new trade corridors
▼ + stars: | 2023-10-10 | by ( Afiq Fitri Alias | ) www.reuters.com time to read: +3 min

LONDON, Oct 10 (Reuters Breakingviews) - A new and deadly chapter of the decades-old Israel-Palestinian conflict is a reality check for an ambitious trade route. IMEC’s chief backers waxed lyrical about the potential of the trade route involving railways, ports and green energy. Demand is there: India's total trade with Saudi Arabia more than doubled in two years, hitting around $53 billion in financial year 2023. In the near-term, the Suez Canal will remain the primary route for goods travelling to Europe from India, while Turkey can press its own rival trade route. The Biden administration is continuing to push for normalisation talks between Saudi Arabia and Israel, the New York Times reported on Oct. 8.

Persons: Joe Biden, Ursula von der Leyen, Narendra Modi, India’s, Saudi Crown Prince Mohammed bin Salman, Benjamin Netanyahu, Biden, Una Galani, Thomas Shum Organizations: Reuters, Washington, European, Indian, New, Saudi Crown, Israeli, New York Times, Thomson Locations: Israel, India, Middle, Europe, New Delhi, Saudi Arabia, Haifa, Gaza, China, People’s Republic, Suez, Turkey, United States, European Union, France, Germany, Delhi, Arabian, Asia

Bunge Ltd logo is seen displayed in this illustration taken, April 10, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsOct 5 (Reuters) - Shareholders of global grains merchant and oilseeds processor Bunge (BG.N) approved the company's acquisition of Glencore-backed (GLEN.L) Viterra during a shareholder meeting on Thursday, Bunge said in a statement. The merger, which will create a company worth $34 billion including debt, is expected to be finalized in mid-2024 after closing conditions are met and regulators have signed off on the deal, Bunge said. Bunge shareholders on Thursday also approved the issuance of 65,611,831 common shares and a move of Bunge's incorporation to Switzerland from Bermuda. Bunge's Viterra acquisition would make the world's largest oilseed processor more dominant as it aims to capitalize on soaring demand for vegetable oils to produce biofuels.

Persons: Dado Ruvic, Bunge, Archer, Greg Heckman, Karl Plume, Tom Hogue Organizations: Bunge, REUTERS, Daniels, Midland, Cargill, Thomson Locations: Switzerland, Bermuda, Chicago

The government said the lifting of restrictions applies to companies that supply at least 50% of the produced diesel fuel to the domestic market. Restrictions on railway diesel exports remain in place, with the exception on exports to some ex-Soviet states. A resumption of Russian diesel exports will have the biggest impact on Turkey and Brazil, Russia's two biggest buyers this year. Traders expect the lifting of the diesel ban could mean Asian diesel cargoes which would have replaced Russian exports in Africa and Turkey will now stay in the region, adding to already ample supplies. The diesel ban will have the biggest impact because Russia is the world's top seaborne exporter of the fuel, just ahead of the United States.

Persons: Transneft, Serena Huang, Maxim, Alexander Novak, Vortexa, William Maclean Organizations: TASS, Traders, REUTERS, Kommersant, Kremlin, FGE Energy, Thomson Locations: MOSCOW, LONDON, SINGAPORE, Russia, Soviet, Baltic, Turkey, Brazil, Africa, Konstantinovo, Moscow, United States

Although China’s interest has declined, other U.S. corn export demand has been better than a year ago. USDA predicts 2023-24 U.S. corn exports to rise 23% on the year to 52.1 million tons (2.05 billion bushels). Total U.S. corn export sales for 2023-24 minus those to China are almost 40% higher than at the same point a year ago. Corn sales were closer to average over that same time frame, but both corn and soy are being limited by Brazil’s rising presence. Brazilian corn and soybean exportsIn the first eight months of 2023, some 18% of Brazil’s corn exports went to China compared with none in the previous years.

Persons: Rio, corn’s, Karen Braun, Rod Nickel Organizations: Lucas, U.S . Department of Agriculture, U.S, USDA, Reuters, Thomson Locations: Mato Grosso, Brazil, NAPERVILLE , Illinois, China, U.S, Mexico, United States

Oil rigs are seen at Vaca Muerta shale oil and gas drilling, in the Patagonian province of Neuquen, Argentina January 21, 2019. "The worst week for crude since March is starting to attract buyers given the oil market will still remain tight over the short-term," Moya said. "We think that once markets start paying attention to falling global oil stockpiles, Brent oil futures will likely creep back up above $US90/bbl," the Commonwealth Bank of Australia said in a note on Friday. U.S. government data this week showed a sharp decline in U.S. gasoline demand, with economic data showing the U.S. services sector had slowed. "The non-farm payroll data tonight, the US CPI, and China's economic data next week will be key to steering oil's movements.

Persons: Agustin Marcarian, Brent, Bond, Edward Moya, Moya, Tina Teng, Sudarshan Varadhan, Sonali Paul, Stephen Coates Organizations: REUTERS, Rights, U.S, West Texas, JPMorgan, National Australia Bank, Commonwealth Bank of Australia, CPI, CMC Markets, Thomson Locations: Vaca, Patagonian, Neuquen, Argentina, Rights SINGAPORE, U.S, United States

TASS news agency cited Energy Minister Nikolai Shulginov as saying the government "at all levels" had been discussing partial permission for fuel exports. Europe could also fill some of the gap left by the Russia gasoline ban. Northwest European suppliers, which lost market share in West Africa to Russian supplies this year, could step in, FGE said. Since banning Russian fuel imports, Europe has been seeking suppliers elsewhere, including from the Middle East. As a result, traders said they expected Northeast Asian refiners in China and South Korea to boost diesel exports to Europe.

Persons: Tatiana Meel, Alexander Novak, Vortexa, Nikolai Shulginov, JP Morgan, FGE, Edmund Blair, Mark Potter Organizations: REUTERS, Traders, Kremlin, Kommersant, TASS, Analysts, FGE Energy, WHO, BE, European Union, Gulf, Diesel, Northwest, Competition, Thomson Locations: Nakhodka Bay, Nakhodka, Russia, LONDON, SINGAPORE, Soviet, United States, Ukraine, Europe, Brazil, Turkey, North, West, East, Gulf, gasoil, India, Africa, Kpler, U.S, Gulf Coast, America, West Africa, China, South Korea

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