Soybeans approached five month high on the China's demand

Source: Forexpros
Rural commodities received a lift on after long-awaited Greek bailout deal and expected strong demand for US grains from China. Traders also look forward to the USDA's Outlook conference due February 23 and 24 to get update on the crop forecasts. Soybean March contract traded at 12.7288 US Dollars per bushel at the European morning session, on the New York Mercantile Exchange, gaining 0.37%. At the same time, wheat and corn March contracts both added 0.85% and 0.7%, respectively.

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Tue, 21 Feb 2012 14:23:24 GMT

UK's public net borrowing showed surplus in January

UK's public sector net borrowing fell much more than initially projected in January, reported the UK National Statistics Office. The indicator swung to surplus of 10.7 billion British Pounds last month after showing 11.1 billion British Pounds deficit in December. Experts predicted the net borrowing to indicate 1 billion British Pounds surplus in January.

Tue, 21 Feb 2012 13:46:04 GMT

Japan to agree on Iran oil import reduction

Japan and US is looking forward to reach an agreement to cut crude imports from Iran. The deal is expected to be closed by the end of February. Japan's oil dependence has increased since March earthquake in 2011. Therefore oil sanctions threaten economic growth. However, avoiding embargo would harm Japanese foreign financial operations. 

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