COMMODITY / ENERGY BRIEFS

COMMODITY / ENERGY BRIEFS

EXECUTIVE: MOSCOW

HAS ENOUGH GRAIN

MOSCOW - Moscow has enough grain despite the poor grain harvest in Russia, Yevgeny Strelkov, director general of the Moskhlebprodukt company, told Interfax.

Mr. Strelkov said Moscow had wheat reserves sufficient for supplying bakeries during 39 days. Moscow received 15,000 tons of food wheat last week.

Moscow is about to receive another 8,000 tons (120 rail cars) of food wheat, of which 6,000 are meant for bakeries.

Moscow currently had stable flour reserves in storage or mills of 17,000 tons, against 12,000 tons in 1994, Mr. Strelkov said. The population has been buying more flour recently: 230 tons a day, up from 180 earlier.

Mr. Strelkov said Moscow currently had 4,000 tons of hard wheat in reserves. He said another 5,000 tons of hard wheat would be delivered before the end of October. Hard wheat is used for producing macaroni and cereals.

GERMANS QUESTION MAN

ABOUT DUMPED CHEMICALS

MUNICH, Germany - Police investigating the dumping of potentially lethal chemicals along German motorways have detained a man for questioning, authorities in the southern state of Bavaria said.

Police in Lower Bavaria gave few details about the man, who came from the Nuremberg area.

Search parties discovered a total of 34 canisters of chemicals last week.

In the latest find, police combed a 125-mile stretch of the A3 motorway between Nuremberg and Regensburg all night before coming across a barrel containing an unidentified red powder in a forest car park.

Five metal and plastic barrels containing several tons of sodium cyanide, calcium cyanide and zinc cyanide were found Thursday,

STRIKE DRAGS ON

AT COPPER MINE IN PERU

LIMA, Peru - Miners at Cyprus Amex's Cerro Verde copper mine are still on strike after negotiators failed to reach any agreement in talks last week.

''The strike goes on. It is going to get radical," said a spokesman for the National Federation of Miners and Metal Workers.

No official word has come from management, although some announcement is expected. One employee said the mine was following "emergency procedures" and that labor conditions were unchanged.

According to the union spokesman, 200 workers have received dismissal letters after government officials declared the strike illegal. The mine can legally fire striking workers if they do not report by the end of the day.

US RIGS INCREASE BY 2,

SURVEY INDICATES

HOUSTON - The U.S. rig count stands at 765, up two from last week but down from 819 rigs one year ago, according to a weekly survey from Baker Hughes Inc.

In Canada, 202 rigs were active, down seven from last week and down

from 253 rigs a year ago.

In the United States, the Baker Hughes report shows that rigs looking for natural gas increased 10, to 422, and rigs looking for oil fell 7, to 328. In addition, 15 rigs are involved in drilling associated with oil and gas recovery.

U.S. land-based rigs numbered 644; offshore rigs totaled 103; and 18 rigs were operating in inland water.

Active U.S. rigs include 563 drilling conventional vertical wells, 152 rigs drilling directionally and 50 rigs drilling horizontally.

PUGET SOUND ELEVATOR

SHOULD REOPEN SOON

NEW YORK - The Continental Grain export elevator in Puget Sound, Wash., is likely to reopen in late November or early December after extensive repairs.

The facility - used for the export of corn and to a lesser extent soybeans - was closed by an explosion July 22.

Continental spokesman Daryl Natz said the firm had not set a specific date for the elevator to reopen.

However, West Coast cash grain sources said word was the facility would be back on line shortly after the Thanksgiving holiday on Nov. 23.

Continental sold a 54,000-ton soybean cargo to Taiwan overnight for Dec. 16-30 shipment from the Pacific Northwest, indicating it is confident the terminal will be functional by that time.

Cash sources said they expected limited impact on area basis levels when the Puget Sound facility reopens, but the move will free up more space at other elevators.

STAINLESS-STEEL PRODUCER

MAKES GOODS TO ORDER

LONDON - Stainless-steel producer Avesta is following a policy of producing its metal to order and thus will trim output when orders are not sufficient, a company official said.

He admitted the stainless-steel market had come off the top recently,

because stainless-steel stockholders were reducing the high level of inventories they had built up.

However, he said the market was finely balanced, and while "we're keeping an eye on things," it would be wrong to exaggerate the amount of downtime that any of Avesta's plants might be facing.

''We make to order," the Avesta official said, which meant that if plants did not have enough work they reduced operations. Thus so- called ''down days" when plants do not operate could not be ruled out.