By Bernadette Christina Munthe
JAKARTA, Aug 15 (Reuters) - Indonesian plantation company Sampoerna Agro is considering how to respond to a recent court ruling that handed down the country's largest ever fine to a company linked to forest fires, a company official said on Monday.
"We're still studying this," Sampoerna Agro spokesman Michael Kesuma told Reuters when asked whether the company would appeal the decision.
* Prices up despite forecast of record U.S. corn, soy crops * Chinese soy demand seen supporting price recovery (Writes through after start of European trading, changes byline/dateline) By Michael Hogan and Manolo Serapio Jr HAMBURG, Aug 15 (Reuters) - U.S. soybean futures climbed almost 2 percent on Monday, recovering from losses on Friday as strong demand from China offset a U.S. Department of Agriculture (USDA) forecast of record U.S. soybean and corn harvests. "The main price driver today is Chinese demand for soybeans which is causing
By Sankalp Phartiyal
NEW DELHI, Aug 15 (Reuters) - India's soybean output is set to rise this year after good early monsoon rains prompted farmers to plant more of the oilseed in June and July, helping the world's top vegetable oil importer cut overseas purchases of the cooking ingredient.
Indians use around 18-19 million tonnes of edible oil for curries and fried food, but about three quarters of this demand is met by cheap imports, especially from Malaysia and Indonesia, making it the south Asian nation's biggest overseas spend behind crude oil and gold.
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HANOI, Aug 15 (Reuters) - Vietnam's rice exports could fall 27 percent in 2016 from last year to 4.75 million tonnes, the lowest since 2008, due to less overseas demand and rising supplies from Thailand, a state-run newspaper said on Monday.
It cited the Vietnam Food Association as revising down its forecast for the second time this year, from 5.7 million tonnes as projected in June.
HANOI, Aug 15 (Reuters) - Vietnam's rice exports could fall 27 percent in 2016 from last year to 4.75 million tonnes, the lowest since 2008, said a state-run newspaper.
It cited the Vietnam Food Association as revising down its forecast for the second time this year.
A lack of demand from key markets in Asia and Africa, along with Thailand's sales from state stockpiles would drive the fall, the Vietnam Economic Times newspaper quoted an official at the Ho Chi Minh City-based association as saying.
* Govt decision on grain storage project in two weeks
* Company will halt broader investment plan if no agreement
* Company says systems combat fraud in wheat storage
* Wheat scandal committee to deliver report Sunday
CAIRO, Aug 14 (Reuters) - Blumberg Grain said its mega project to store Egyptian grains was back in play, with the government to announce a final decision in two weeks, after earlier indications that plans had been shelved and the company might exit the country entirely.
CAIRO, Aug 13 (Reuters) - Egypt's public prosecutor has ordered the arrest of 13 people for 15 days pending an investigation into their role in a wheat procurement corruption scandal, judicial sources said on Saturday.
Egypt, the world's largest wheat importer, has been mired in controversy over its wheat supplies, with industry officials claiming that over 2 million tonnes of the 5 million tonnes of wheat procured locally in this harvest may exist only on paper.
By Michael Hirtzer CHICAGO, Aug 12 (Reuters) - Chicago Mercantile Exchange lean hog futures were mostly higher on Friday, rebounding from earlier losses on technical buying and short-covering following the midday expiration of the August contract, traders and analysts said. Gains in hog futures came after prices neared last week's roughly four-month lows, and hogs could still face more selling pressure amid expectations of a seasonal buildup in hog supplies after the U.S. Labor Day holiday in early September. "There's nothing bullish going on in hogs as far as I'm
* USDA projects record U.S. corn, soybean crops
* Bargain buying lifts corn from 7-year lows
* Strong export demand underpins soybeans (New throughout, adds comment, updates prices and market activity, changes byline, changes dateline from previous LONDON)
By Karl Plume
CHICAGO, Aug 12 (Reuters) - U.S. corn futures plunged to a seven-year low on Friday and hit contract lows in all months after a the government forecast a larger-than-expected harvest, but the market ultimately closed firm as the low prices prompted bargain buying.
By Mark Weinraub
WASHINGTON, Aug 12 (Reuters) - The U.S. Department of Agriculture's (USDA) massive hikes to its corn and soybean harvest views on Friday will test the grain markets adage that "big crops get bigger," with market watchers split on whether final yields will match the lofty outlook.
The USDA boosted its already robust yield forecasts for both crops above market expectations on Friday.