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Colin Packham

Australian government boosts Senate numbers ahead of tax cut bill

9:37am IST

SYDNEY Australian Prime Minister Scott Morrison will need to secure just three votes in the country's upper house to pass legislation after election results on Wednesday showed his government picked up four additional Senate seats.

RPT-Australia lowers wheat export forecast by 18% as drought hits supply

18 Jun 2019

SYDNEY, June 18 Australia on Tuesday lowered its forecast for wheat exports over the 2019/20 season by nearly 18% as a drought wilts crops in the world's No.4 exporter of the grain.

Australia lowers wheat export forecast by 18% as drought hits supply

17 Jun 2019

SYDNEY Australia on Tuesday lowered its forecast for wheat exports over the 2019/20 season by nearly 18% as a drought wilts crops in the world's No.4 exporter of the grain.

GRAINS-Corn jumps 2% to hit 5-year high on crop uncertainty

17 Jun 2019

By Colin Packham SYDNEY, June 17 U.S. corn futures jumped 2% on Monday as forecasts for wet weather across a key-producing area stoked fears that farmers will be unable to sow their full allotment of crops, pushing prices to a five-year high. Wheat edged higher, drawing support from the strength of corn, while soybeans rose more than 1%. The most active corn futures on the Chicago Board of Trade were up 2.2% at $4.62-3/4 a bushel, as of 0029 GMT, near the session high of $4.64 a bushel - the highest since June 2014. Corn jumped 2.5% in the previous session. "The market does not believe that farmers can complete planting before the window closes. The weather will now have a material impact on supplies," said Phin Ziebell, agribusiness economist, National Australia Bank. End-users of corn, such as producers of livestock feed and ethanol, have been bidding up for old-crop supplies to prepare for tighter domestic supplies. Until recently, big corn surpluses from a series of bumper U.S. harvests had traders selling nearby contracts and buying back months. The most active wheat futures were up 0.5% at $5.41-1/4 a bushel, after closing 0.6% firmer on Friday. The most active soybean futures were up 1.2% at $9.07-1/2 a bushel, having firmed 1% in the previous session. Analyst said soybeans were drawing support from the wet U.S. weather. Soybeans have a later planting window, but should the rains continue, farmers may be unable to finish planting of the oilseed too. Grains prices at 0029 GMT Contract Last Change Pct chg Two-day chg MA 30 RSI CBOT wheat 541.25 2.75 +0.51% +1.07% 484.59 73 CBOT corn 462.75 9.75 +2.15% +4.69% 402.09 83 CBOT soy 907.50 10.75 +1.20% +2.20% 850.43 77 CBOT rice 11.61 -$0.04 -0.30% -0.39% $11.38 51 WTI crude 52.71 $0.20 +0.38% +0.82% $57.73 39 Currencies Euro/dlr $1.122 $0.001 +0.10% -0.51% USD/AUD 0.6880 0.001 +0.12% -0.48% Most active contracts Wheat, corn and soy US cents/bushel. Rice: USD per hundredweight RSI 14, exponential (Reporting by Colin Packham, Editing by Sherry Jacob-Phillips)

Australia to step up challenge to China in Pacific with new investment

13 Jun 2019

SYDNEY Australia will soon offer millions of dollars in funding for infrastructure projects in the Pacific, two sources familiar with the plan told Reuters, as part of its efforts to undercut Chinese influence.

UPDATE 1-Australian wheat output under threat as dry weather set to linger

13 Jun 2019

SYDNEY, June 13 Dry weather will persist across Australia until at least the end of September, the country's weather bureau said on Thursday, in a forecast that threatens to further lower wheat production in the world's No. 4 exporter.

Australian wheat output under threat as dry weather set to linger

13 Jun 2019

SYDNEY, June 13 Dry weather will persist across Australia until at least the end of September, the country's weather bureau said on Thursday, in a forecast that threatens to further lower wheat production in the world's No. 4 exporter.

RPT-Australia cuts wheat forecast by 11% as drought threatens for third year

12 Jun 2019

SYDNEY, June 12 Australia on Wednesday cut its wheat production forecast for the 2019/20 harvest by more than 11% as an unrelenting drought across the country's east coast threatens crops for a third year in a row.

Australia cuts wheat forecast by 11% as drought threatens for third year

11 Jun 2019

SYDNEY, June 12 Australia on Wednesday cut its wheat production forecast for the 2019/20 harvest by more than 11% as an unrelenting drought across the country's east coast threatens crops for a third year in a row.

Australia PM to meet national broadcaster after police raids

11 Jun 2019

SYDNEY Australian Prime Minister Scott Morrison said he will meet with executives from the national broadcaster on Tuesday as he sought to calm tensions following two police raids against prominent media organisations.

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