Quick Overview

• Barclay’s sees CBOT December corn above $6 per bushel.

• Indonesia is seeking 700,000 metric tons of rice from Vietnam to replenish domestic inventories

• Importers in Bangladesh have bought around 55,000 metric tons white rice from Myanmar at an average price of $375/ton. The absence of India from the export market has forced buyers in Bangladesh to turn to Vietnam and Myanmar.

• Pakistan's exports of rice will likely fall 35% to 3 million metric tons this fiscal year.

• Standard Bank will be dealer and market maker for a new gold ETF to be launched in Hong Kong in October. The Value Gold ETF, to be listed on the Hong Kong stock exchange, will be the first in Asia where the underlying gold will be physically held in Hong Kong rather than in London or Zurich.

• Italy August industrial output rose 1.6% MoM and 9.5% YoY

• Sugar is supported by reports of Brazilian industry buy-backs of sugar from the trade due to a domestic price rally; congestion at Brazilian ports, and a rally in U.S. corn futures, dealers said.