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Friday, January 25, 2008

Stories and Charts for Friday

And thank ever-lovin' God it's Friday! Man, what a week!


IEA Calls on OPEC to Pump More Crude; Says Stockpiles Still Remain `Tight' OPEC should pump more oil to replenish inventories and ease high prices, while state-owned oil companies must keep up the pace of investment in new capacity, the head of the International Energy Agency said.


Strong Global Market for Iron Ore is Here to Stay, Rio's CEO Albanese Says Rio Tinto Group, fending off a $114 billion hostile offer from rival mining company BHP Billiton Ltd., said an ``extremely strong'' iron ore market will last, and there's no slowdown in Chinese demand for commodities.


Argentina's Soybean, Corn Crops May Be Hurt by Dry, Hot Weather in Pampas Argentine soybean and corn crops may further deteriorate as dry, hot weather reduces soil humidity, affecting yields, a weather researcher said.

Corn, Soybeans Gain for Second Day on Speculation Demand Will Increase Corn and soybeans in Chicago rose for a second day on speculation recent price declines, the dollar's weakness and a reduction in freight costs may boost demand from overseas importers. Wheat futures also gained.

China's Buyers Boost Soybean Imports on Drop in Shipping, Commodity Costs China, the world's biggest importer of soybeans, boosted purchases this week after shipping costs and the global benchmark price of the commodity declined, market researcher Shanghai JC Intelligence Co. said.


S&P/ASX 200 Index Jumps Most in a Decade in Biggest Ever Three-Day Rally Australia's S&P/ASX 200 Index rose the most in a decade, completing a three-day rebound sparked by the Federal Reserve's cut to U.S. interest rates and President George W. Bush's plan to revive growth in the world's largest economy.

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