COMMODITY / CHEMICAL BRIEFS

COMMODITY / CHEMICAL BRIEFS

ROHM & HAAS RECASTS

JAPAN SUBSIDIARYRohm & Haas Co. said Friday it has reached agreement with its partners to restructure its joint venture in Japan.

When the transaction is completed, Japan Acrylic Chemical Co. will be a wholly owned subsidiary of Rohm & Haas.

Jacryl manufactures and sells acrylic emulsions and petroleum chemicals for the Japanese market. Rohm & Haas, Toagosei Chemical Industry Co. and Sanyo Trading Co. had been partners in the venture for more than 30 years. Rohm & Haas became the majority partner in the venture in 1992.

The transaction will not affect manufacturing operations in Nagoya. Jacryl will continue to make acrylic emulsions used to make paints, paper coatings, textile finishes, adhesives, leather and nonwoven products.

USDA SETS '94 CORN

CROP SET-ASIDE AT 5 PERCENT

WASHINGTON - The U.S. Department of Agriculture Friday said corn farmers would be required to idle 5 percent of their acreage in 1994 to qualify for government farm program benefits, slightly less than the 7.5 percent requested by the National Corn Growers Association.

In addition, USDA set the 1994 acreage reduction program for barley, sorghum and oats at zero percent, meaning those farmers will be able to plant all of their government farm program acres and still qualify for USDA subsidy payments.

For the 1993 crop that is soon to be harvested, USDA set the corn set- aside last year at 10 percent, the sorghum set-aside at 5 percent and the barley and oats set-asides at zero percent. Agriculture Secretary Mike Espy said Friday in a statement that it was necessary to lower the 1994 set-asides for corn and sorghum - the two main U.S. feed grains - to ensure adequate feed supplies in 1994-95 (October-September).

KAN. WHEAT PLANTINGS

NEARLY ON SCHEDULE

KANSAS CITY, Kan. - Kansas hard red winter wheat farmers have encountered both extremes of soil moisture this year, but plantings still are proceeding nearly on schedule and the potential for yield reductions is not a concern at this time.

Excess moisture in the state's northern growing areas delayed the wheat harvest this summer and plagued conditions into the planting season.

Conversely, dry weather has slowed fall seeding in the southern part of the state and farmers there are waiting for a timely rain to finish planting.

Kansas wheat seedbeds were 30 percent planted as of early last week, according to the U.S. Department of Agriculture's weekly crop progress report.

Kansas fields usually are 40 percent planted by now.

DEITER DRAGER TO HEAD

VISTA CHEMICAL CO.

HOUSTON - Vista Chemical Co. announced that board member Dieter Drager has been named chairman, replacing John D. Burns, whose term has expired.

Mr. Burns will remain on the board as an advisory member.

Mr. Drager is a member of the board of RWE-DEA AG fur Mineraloel und Chemie of Hamburg, Germany, with responsibilities for chemical operations worldwide. Vista is a wholly owned U.S. subsidiary of RWE-DEA.

JAPAN, TAIWAN SEEK

SOYBEAN SHIPMENTS

TOKYO - Following this week's purchase of 90,000 metric tons, Japan will continue to seek November shipment U.S. soybeans this week, possibly buying 50,000 tons by early next week, trade sources said.

Southeast Asia is expected to remain quiet in the coming week, but Indonesia was said to be seeking November-shipment soybeans. Taiwan likely will tender for a corn-soybean combination cargo and possibly 54,000 tons of soybeans this week for October shipment, Taipei traders said.

GUANGZHOU TO OPEN

COMMODITIES EXCHANGE

HONG KONG - The southern Chinese city of Guangzhou will open a multiple commodity futures exchange at the end of October, the semi-official China Economic Information Service reported last week. The exchange will initially trade sugar, nonferrous metals and petroleum, an exchange official said.