COMMODITIES

Soyabean futures rose 16 per cent, the third week of similar gains, as US sales for export revealed strong overseas demand. Export sales last week were four times higher than average. The increase in demand for soyameal will probably increase domestic demand in the US for soyabeans for processing.

Coffee futures rose 14.6 per cent, recovering all of last week's losses. A smaller than expected world crop sent prices to a two and a half-year high earlier this month. US stockpiles have risen in the last few weeks as producers took advantage of high prices to sell, but traders still expect shortages in the months ahead. The frost season in Brazil starts from May, which will be critical in determining the scale of the supply problems.

Orange juice fell 5.1 per cent as frost damage to the Florida crops over the winter has been minimal and traders expect a bumper harvest. Weather conditions are also favourable in Spain and Brazil, the other two big producers, which means supplies will be plentiful. Copyright: IOS & Bloomberg