'Good Year' Expected
For USSR Grain CropA Soviet radio report said U.S.S.R. grain production would not fall below 200 million metric tons and could go as high as 250 million metric tons because of intensive technology, the U.S. counselor in Moscow said in a report dated March 13.
According to the counselor, a March 5 radio Moscow report said the intensive technology regime for grain production had established a new floor for output. Grain production in a "bad year" will not fall below 200 million metric tons and in a "good year" could reach 250 million, the report said.
China Plans to Plant
More Oilseeds, Cotton
LONDON - China will increase its 1987 oilseed plantings by almost 6 percent and cotton by 15 percent, the Hamburg-based newsletter Oil World said.
According to provincial plans, the oilseed area will reach 12.21 million hectares, up from 11.54 million hectares last year, and cotton area 5.14 million hectares, compared with less than 4.47 million hectares last year, Oil World said.
The Chinese Ministry of Agriculture raised prices especially for cotton and edible oilseeds, but also lifted those for sugar cane and beets in order to reverse the decline in production that occurred in 1986, Oil World said.
Night Trading on CME
'A Step Backward'
CHICAGO - Chicago Mercantile Exchange Chairman John Sandner squelched any rumors of night trading in CME contracts at a press conference here. Commenting that a true 24-hour market is one that links global trading around the world, he said "night trading would be a step backward for the CME."
The CME pioneered international offset between futures exchanges on different continents and in different time zones with its launch of the Singapore International Monetary Market, Mr. Sandner said.
He said the CME is continuing to explore links with other exchanges, including the London Stock Exchange.
CSCE Lifts Limits
On Nearby July Cocoa
NEW YORK - The Coffee, Sugar, and Cocoa Exchange announced the limit on the July 1987 cocoa contract was lifted, and will acquire a spot month charge.
The CSCE said: "Members shall require a minimum of $1,000 (includes $250 spot charge) for net long or net short positions in the July and May 1987 cocoa contracts.