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The value of colombian exports other than
coffee rose 55 pct in january compared with the same period
last year, apparently setting a trend for the trade balance in
1987, government statistics institute figures show.
They amounted to 180.8 mln dlrs fob compared with 147.5 mln
dlrs for coffee, a drop of 42 pct from last year.
The trade balance registered a 35 mln dlr surplus, compared
with a 56 mln dlr surplus in january 1986.
The national planning department forecast that in 1987
coffee, colombia's traditional major export, will account for
only one-third of total exports, or about 1.5 billion dlrs.
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27,000 long tons
USG/Taiwan 23.25 dlrs fio five days/1,500 1-10/5 Continental.
Trade Banner - 30,000 long tons grain USG/Morocco 13.50
dlrs 5,000/5,000 end-April/early-May Comanav.
Reference New York Grain Freights 1 of April 8, ship
brokers say the vessel fixed by Cam from the Great Lakes to
Algeria at 28 dlrs is reported to be the Vamand Wave.
Reference New York Grain Freights 2 of April 8, they say
the Cory Grain maize business from East London at 22 dlrs is to
Japan and not to Spain as reported.
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TBN 14,00 mt bulk sugar
Fiji/Prai 16 dlrs fio 10,000/1,000 1-10/5 Fiji Sugar Marketing.
TBN 15,000 mt bulk sugar Queensland/Japan 14.65 dlrs fio
10,000/1,000 20-30/4 CSR.
ENQUIRIES - Antwerp/1-3 ports Greece 40,000 mt bagged sugar
indications 750/750 in shipments of 10,000/15,000 tonnes spread
from May to July a/c unnamed charterer.
Inchon/India 12,600 mt bagged sugar 1,000/1,000 20/4-5/5
a/c Kaines.
Reunion/1-2 ports Portugal 10,000 mt bulk sugar about 20
dlrs 2,000/750 1-10/5 a/c French charterer.
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Antwerp/Libya 5,500 mt bagged flour 14
daps 24-27/4.
New Orleans/Guanta 9,387 mt bulk hss 3,000/13 days
25-4/5-5.
Naantali/Saudi Red Sea 30,000/35,000 mt barley 4,000/3,000
20-30/4 or early May.
Dunkirk/Xingang 12,000 mt bagged flour 1,500/1,700 13-20/4.
Toledo/Seaforth 17,000 mt hss offers 18.50 dlrs four
days/8,000 13-15/4.
River Plate/Malaysia 20,000/22,000 long tons hss
2,000/2,000 Apr.
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Shr 51 cts vs not given
Net 6,089,000 vs 7,310,000
NOTE: Company went public in November 1986.
Net includes loan loss provisions of 75,000 dlrs vs 30,000
dlrs and gains on sale of securities of 756,000 dlrs vs
2,468,000 dlrs pretax.
1986 net includes tax credit 1,022,000 dlrs.
1987 net includes 2,400,000 dlr gain from tax credit
resulting in reduction of goodwill.
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Shr 70 cts vs 67 cts
Net 6,416,000 vs 6,057,000
NOTE: Net includes pretax securities sales gains of
5,900,000 dlrs vs 5,900,000 dlrs.
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Shr loss five cts vs profit 10 cts
Net loss 381,391 vs profit 736,974
Revs 6,161,391 vs 9,241,882
NOTE: Canadian dollars.
Proved oil reserves at year-end 3.3 mln barrels, up 39 pct
from a year earlier, and natural gas reserves 4.7 billion cubic
feet, off nine pct.
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Southmark Corp said it will issue its
shareholders a special dividend right to acquire 22 shares of
American Realty Trust <ARB> for each 100 shares of Southmark
they own.
Each right entitles the holder to buy one share of
beneficial interest of American Realty Trust at a price of 3.75
dlrs per share, Southmark said.
Southmark said the offer's record date is May 1, with an
ex-dividend date of April 27, adding that the it will issue the
rights to shareholders on May 6 and the offer will expire on
May 22.
Southmark said it received the rights on April 6 as the
holder of about 84 pct of American Realty Trust's outstanding
shares.
Holders of fewer than 455 Southmark shares who would
receive rights to acquire fewer than 100 American Realty shares
will be paid cash in lieu of the rights distribution, the
company said.
Southmark said it will compute the cash price paid based on
the average closing market price of the rights on the American
Stock Exchange for the first ten days the rights are traded,
beginning April 6.
In order to get the dividend for these rights a Southmark
shareholder must own common stock on the ex-dividend date,
April 27, the company said.
After that, Southmark said its common stock will be traded
on an ex-rights basis.
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Colombian exports other than coffee rose
55 pct in January compared with the same period last year,
figures from the government statistics institute show.
Non-coffee exports amounted to 180.8 mln dlrs fob compared
with 147.5 mln dlrs for coffee, a drop of 42 pct from last
year.
The trade balance registered a 35 mln dlr surplus, compared
with a 56 mln dlr surplus in January 1986.
The national planning department forecast that in 1987
coffee, Colombia's traditional major export, will account for
only one third of total exports, or about 1.5 billion dlrs.
REUTER
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TVX Broadcast Group Inc
<TVXG> said it has completed the previously-announced purchase
of five Taft television stations.
Last week, TVX said the sale, which was scheduled to close
then, had been delayed.
Taft said the purchase price was 240 mln dlrs, as
previously announced. The price is subject to final
adjustments, Taft said.
Taft did not indicate the size of the gain, if any, it
would post on the sale.
It said the stations are WTAF-Philadelphia,
WDCA-Washington, WCIX-Miami, KTXA-Dallas and KTXH-Houston.
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Shr diluted 1.18 dlrs vs 1.04 dlrs
Net 45.0 mln vs 39.2 mln
Assets 16.7 billion vs 15.2 billion
Deposits 13.0 billion vs 12.1 billion
Loans 11.9 billion vs 10.1 billion
NOTE: Results restated for merger of Midlantic Banks Inc
and Continental Bancorp Inc on January 30, 1987.
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Shr 46 cts vs 49 cts
Net 1,101,551 vs 831,398
NOTE: Share adjusted for two-for-one stock split in May
1986.
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Qtly div 38 cts vs 35 cts prior
Pay May 15
Record May One
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Northern Trust Corp said its first
quarter earnings were reduced by 875,000 dlrs by placing 53.2
mln dlrs of loans to Brazil and six mln dlrs in loans to
Ecuador on a cash basis.
Should these loans remain on nonperforming basis for the
rest of 1987, net income for year will be cut by about 3.2 mln
dlrs, the bank said.
Earlier it posted net income for the period of 14.7 mln
dlrs or 87 cts a share, up from 11.7 mln dlrs or 73 cts a
share.
Total nonperforming assets were 114.1 mln dlrs at March 31,
up from 53.4 mln dlrs at December 31 and 79 mln dlrs at March
31, 1986 the bank said.
The provision for loan losses for the first quarter was
eight mln dlrs compared to 11 mln a year ago. Net loan charge
offs were six mln dlrs, down from 11 mln dlrs a year ago.
The reserve for loan losses was 78.1 mln dlrs, or two pct
of outstanding loans, higher than the 56 mln dlrs of 1.65 pct
of loans outstanding at March 31, 1986.
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Shr not given
Net loss 9,900,000 vs loss 17,300,000
Revs 14.7 mln vs 29.8 mln
Note: Previous loss restated.
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Shr 74 cts vs 92 cts
Net 1,300,450 vs 1,600,258
NOTE: Share adjusted for 10 pct stock dividend in July
1986.
Company based in Mayaguez, Puerto Rico.
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Shr loss six cts vs loss 88 cts
Net loss 123,840 vs loss 1,298,377
Revs 1,333,416 vs 385,146
Year
Shr profit six cts vs loss 1.47 dlrs
Net profit 124,872 vs loss 2,171,011
Revs 4,618,232 vs 2,959,141
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Protective Life Corp said it
has signed a letter of intent to assume <Liberty Life Insurance
Co's> group insurance on July 1, subject to regulatory
approvals.
Terms were not disclosed.
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Qtly divs Class A and B 20 cts vs 20 cts
Pay May 15
Record April 30
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Shr 1.02 dlrs vs 78 cts
Net 14.4 mln vs 11.0 mln
NOTE: 1987 net includes gain 2,222,000 dlrs from
termination of pension plan.
Results restated for pooled acquisitions and share adjusted
for stock dividends.
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Emcore said it completed
the sale of 4.1 mln dlrs of stock to Citicorp Venture Capital
Ltd, Concord Ventures of Dillon Read and Co and private
investors.
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Shr seven cts vs six cts
Net 1,612,000 vs 1,406,000
Revs 38.2 mln vs 34.3 mln
Avg shrs 23,742,000 vs 22,945,000
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Shr profit five cts vs profit two cts
Net profit 325,000 vs profit 105,000
Revs 19.5 mln vs 16.1 mln
Six Mths
Shr profit nine cts vs loss 35 cts
Net profit 627,000 vs loss 2,280,000
Revs 36.9 mln vs 27.4 mln
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Shr 1.32 dlrs vs 1.26 dlrs
Net 21.2 mln vs 17.4 mln
Avg shrs 16.1 mln vs 13.8 mln
Assets 10.0 billion vs 8.4 billion
Deposits 7.2 billion vs 6.1 billion
Loans 6.7 billion up 26 pct
NOTE: Results restated for pooled acquisitions of Shawmut
Home Bank and Fidelity Trust Co and include First Gibraltar
Mortgage Corp from December 30, 1986 purchase.
Loan loss provision 8,800,000 dlrs vs 6,300,000 dlrs.
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Minntech Corp said it expects
to report loss for its fiscal 1988 first quarter to end June
30, due to start-up costs related to a new membrane oxygenator
and water filtration products.
However, revenues and earnings should consistently increase
throughout the remainder of the year, President Louis Cosentino
told analysts.
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Shr 89 cts vs not available
Net 1,163,000 vs 466,000
Nine Mths
Net 3,696,000 vs 1,624,000
NOTE: Company converted to stock ownership effective August
1986.
Periods end March 31, 1987 and 1986 respectively.
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Southmark Corp said shareholders will be
issued, as a special dividend, rights to acquire 22 shares of
American Realty Trust <ARB> for each 100 shares of Southmark
owned.
The record date for Southmark shareholders to receive these
rights will be May one with an ex-dividend date of April 27.
Southmark received these rights on April six, as the holder
of about 84 pct of American Realty Trust's outstanding shares.
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Takeover speculation continues to fuel
heavy trading in UAL Inc, traders said.
UAL rose 1-5/8 to 73-5/8 on volume of more than two mln
shares, after trading with little upward movement earlier in
the session.
Traders said rumors, which began yesterday, added to
speculation that the company would be the target of a takeover.
They said it was believed Coniston Partners and the
Pritzker family of Chicago were buying the stock.
Coniston declined comment and the Pritzkers had no comment.
Traders said there was speculation a bidder might appear,
and also that real estate developer Donald Trump, who holds a
stake in UAL, might participate in a takeover bid. UAL pilots
said they would be willing to pay 4.5 billion dlrs, which
includes debt, for the company's United Airlines unit.
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Canada's key bank rate rose to 7.20 pct
from 7.15 pct the week before, Bank of Canada said.
Bank rate is set 1/4 percentage point above the average
yield on the weekly issue of 91-day treasury bills. This week's
yield was 6.95 pct compared with the previous week's 6.90 pct.
Tenders were accepted for 2.55 billion dlrs of 91-day bills
at an average price of 98.296 dlrs against 98.310 dlrs last
week.
The 1.40 billion dlrs of 182-day bills were priced at an
average 96.488 dlrs against 96.549 dlrs last week, to yield an
average 7.30 pct, versus 7.17 pct last week.
The 500 mln dlrs of 364-day bills were priced at an average
92.969 dlrs against 93.159 dlrs last week, to yield an average
7.58 pct versus 7.38 pct last week.
Tenders will be received next week for 2.50 billion dlrs of
91-day bills, 1.40 billion dlrs of 182-day bills and 500 mln
dlrs of 364-day bills.
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Shr four cts vs 10 cts
Net 31,000 vs 82,000
Sales 10.9 mln vs 9,760,000
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Oper shr 1.64 dlrs vs 1.50 dlrs
Oper net 6,200,000 vs 5,600,000
Revs not given
12 mths
Oper shr 2.76 dlrs vs 2.58 dlrs
Oper net 10.4 mln vs 9,600,000
NOTE: Net income including discontinued operation and, in
both 1986 periods, 1,500,000 dlr gain from change in accounting
for which results restated, 6,200,000 dlrs vs 7,200,000 dlrs in
quarter and 10.6 mln dlrs vs 11.6 mln dlrs.
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Shr 56 cts vs 35 cts
Net 10,271,000 vs 6,425,000
Loans 1.44 billion vs 1.20 billion
Deposits 2.36 billion vs 1.96 billion
Assets 2.96 billion vs 2.55 billion
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Shr 50 cts vs 26 cts
Net 1,316,000 vs 656,000
NOTE: qtr 1987 includes tax gain 500,000 dlrs, or 19 cts
per share.
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Shr 95 cts vs 80 cts
Net 57.4 mln vs 46.6 mln
Assets 28.39 billion vs 25.87 billion
Loans 13.99 billion vs 14.35 billion
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Shr 94 cts vs 1.02 dlrs
Net 7,255,000 vs 7,856,000
Loans 2.88 billion vs 2.94 billion
Deposits 4.05 billion vs 3.73 billion
Assets 5.43 billion vs 5.14 billion
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Oper shr four cts vs one ct
Oper net 108,000 vs 30,000
Revs 12.8 mln vs 14.8 mln
Note: Current qtr figures exclude operating loss
carryforward gain of 57,000 dlrs, or two cts per share vs gain
of 21,000 dlrs, or one ct per share.
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Egypt has cancelled its April 2 tender for
200,000 tonnes of any origin wheat for April 15-30 shipment,
trade and Egyptian official sources said.
Trade sources said the cancellation followed an offer by an
Egyptian company, Islamic Corp, at 85.80 dlrs/tonne cost and
freight, undercutting other traders' offers of between 93.90
and 94.49 dlrs/tonne.
An Egyptian trade official in Paris confirmed cancellation
of the tender following the Islamic Corp offer, which he said
the government had refused for legal reasons.
The official denied trade reports that the government might
have substituted a private deal with Islamic Corp for the
original tender.
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Canada's trade picture has brightened
considerably, underscoring economists' predictions the sector
would post a long awaited recovery this year.
The federal government reported today that the monthly
surplus soared to 1.25 billion Canadian dlrs in February,
double January's 623 mln dlrs surplus and sharply higher than
February 1986's 189 mln dlr tally.
"Hopefully it's the beginning of a trend," said Richardson
Greenshields of Canada Ltd economist Susan Clark in Toronto.
Economists generally don't expect such large gains over the
next months, but are looking for an upward trend throughout the
year.
"We thought the trade balance would improve ... over the
year, and it certainly looks as if this morning's figure is
indicative of that," commented economist James Donegan at the
Toronto securities firm of Midland Doherty Ltd.
Statistics Canada reported the surplus was driven by a 23
pct gain in automobile product exports to a record 3.2 billion
dls in the month.
"Recovery in the automotive sector helped push the value of
exports up by 5.9 pct in February," the agency said in its
monthly report.
Total exports expanded to 10.44 billion dlrs from 9.85
billion dlrs in February, while imports slipped to 9.19 billion
dlrs from 9.23 billion dlrs.
Economists have predicted the 1987 trade surplus would end
up three to five billion dlrs higher than last year's dismal
10.1 billion dlr total. In 1985 the surplus was 17.48 billion
dlrs.
Money market analysts said the positive trade news touched
off a modest rally in the Canadian dollar, which rose to 76.85
U.S. cts on North American markets early this morning after
closing at 76.58 cts Wednesday.
The currency was hovering around 76.78 cts in early
afternoon trading.
Economists have been banking on an improved trade
performance this year to stimulate an otherwise sluggish
Canadian economy.
Money market analysts said the positive trade news touched
off a modest rally in the Canadian dollar, which rose to 76.85
U.S. cts on North American markets early this morning after
closing at 76.58 cts Wednesday.
The currency was hovering around 76.78 cts in early
afternoon trading.
Economists have been banking on an improved trade
performance this year to stimulate an otherwise sluggish
Canadian economy.
They say the country's consumers, who have been spending at
a torrid pace in recent years, will sharply curtail outlays
this year and this should help curtail the flow of imports into
the country.
Meanwhile, demand for Canadian exports in the United
States, by far the country's largest market, is expected to be
strong as a result of a projected rise in American consumer
spending and the relatively low value of the Canadian currency.
"We maintain what's going to drive Canada's export
performance is income growth in the U.S.," said Midland's
Donegan.
But at the Bank of Nova Scotia, deputy chief economist
Warren Jestin was less optimistic about the U.S. outlook and
said it could be a mistake to read too much into February's
trade upturn.
Jestin said, "Given the fact the U.S. economy is showing
signs of weakening--particularly car sales--it would indicate
that part of the strength (in Canada's trade figures) is
probably transitory."
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First Bank Systems Inc, in reporting
higher first quarter net, said that if interest is not paid on
the 140 mln dlrs in Brazilian loans and nine mln dlrs in
Ecuadorian loans for the rest of 1987, its profits for the
entire year will be cut by 6.9 mln dlrs.
The banking firm said the non-performing status of these
loans cut first quarter net by 1.7 mln dlrs.
Earlier it reported first quarter profits of 57.4 mln dlrs
or 95 cts a share, up from 46.6 mln dlrs or 80 cts a share in
the year-ago period.
Nonaccrual loans, restructured loans and other real estate
were 637 mln dlrs, or 2.24 pct of total assets, compared to 514
mln dlrs or 1.84 pct of assets at the end of 1986 and 636.1
mln, or 2.46 pct of assets at March 31, 1986.
The provision for loan losses in the quarter was 35 mln
dlrs, compared to 152.1 mln in the first quarter 1986, when
there was a special addition to the reserve of 100 mln dlrs.
Net charge offs were 34.7 mln, compared to 41.1 mln dlrs a year
earlier.
REUTER^M
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Oper shr 1.64 dlrs vs 84 cts
Oper net 4,583,000 vs 2,869,000
Revs 20.1 mln vs 19.0 mln
Avg shrs 2,791,639 vs 3,432,746
Year
Oper shr 4.46 dlrs vs 3.20 dlrs
Oper net 14.1 mln vs 10.9 mln
Revs 74.6 mln vs 68.0 mln
Avg shrs 3,154,665 vs 3,425,187
NOTE: Operating net excludes gains of nothing vs 2,444,000
dlrs, or 72 cts a share, in quarter and 1,890,000 dlrs, or 60
cts a share, vs 9,3267,000 dlrs, or 2.72 dlrs a share, in year
from tax loss carryforwards
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Following are highlights of the U.S.
Agriculture Department supply/demand projections for the
1986/87 seasons, in mln bushels, with comparisons, unless noted
--
Corn -- Stocks, Aug 31, 1987, at 5,240, vs 5,595 last
month. Stocks, Aug 31, 1986, at 4,040, vs 4,040 last month.
Exports projected at 1,375, vs 1,250 last month. Exports in
1985/86 at 1,241, vs 1,241 last month.
Domestic use at 5,680, vs 5,450 last month. Usage in the
1985/86 season at 5,255, vs 5,255 last month.
Wheat -- Stocks, May 31, 1987, projected at 1,848, vs 1,877
last month. Stocks on May 31, 1986, at 1,905, vs 1,905 last
month.
Exports in 1986/87 season at 1,025, vs 1,025 last month.
1985/86 season at 915, vs 915 last month.
Domestic use in 1986/87 at 1,134, vs 1,105 last month.
1985/86 at 1,045, vs 1,045 last month.
Cotton -- in mln 480 lb bales - Stocks, July 31, 1987, at
5.40, vs 5.49 last month. Stocks July 31, 1986, at 9.35, vs
9.35 last month.
Exports in 1986/87 season at 6.66, vs 6.76 last month.
Exports in 1985/86 - 1.96, vs 1.96 last month.
Soybeans -- in mln bushels - Stocks, Aug 31, 1987,
projected at 610, vs 635 last month. Stocks Aug 31, 1986, at
536, vs 536 last month.
Soybean crushings during 1986/87 - 1,130, vs 1,115 last
month. Crushings in 1985/86 at 1,053, vs 1,053 last month.
Exports in 1986/87 season at 700, vs 700 last month.
Exports in 1985/86 at 740, vs 740 last month.
Soybean Oil -- mln lbs - Stocks on Sept 30, 1987, at 1,360,
vs 1,200 last month. Stocks on Sept 30, 1986, at 947, vs 947
last month.
Exports in 1986/87 at 1,350, vs 1,350 last month. Exports
in 1985/86 at 1,257, vs 1,257 last month.
Soybean Cake/Meal -- thousand short tons - Stocks, Sept 30,
1987, at 270, vs 315 last month. Stocks, Sept 30, 1986, at 212,
vs 212 last month.
Exports in 1986/87 season at 6,500, vs 6,350 last month.
Exports in 1985/86 at 6,036, vs 6,008 last month.
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The Soviet Union has added 175,600
tonnes of U.S. corn to its previous commitments for delivery in
the fourth year of the U.S.-USSR Grain Supply Agreement, which
began October 1, 1986, the U.S. Agriculture Department said.
According to the department's Export Sales Report, covering
transactions in the week ended April 2, corn transactions
consisted of 140,600 tonnes of new sales and changes in
destinations for 35,000 tonnes.
Total corn commitments to the USSR for delivery in the
fourth agreement year amount to 2,825,600 tonnes. The Soviets
have not purchased wheat or soybeans in the fourth year of the
agreement.
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The U.S. Agriculture Department gave
projected carryover free stocks of feedgrains, corn and wheat
under loans, with comparisons, as follows, in mln bushels,
except feedgrains, which is in mln tonnes --
1986/87 1985/86
04/09/87 03/09/87 04/09/87 03/09/87
Under Regular Nine Month Loan --
WHEAT 225 300 678 678
FEEDGRAINS 52.1 68.1 75.7 75.7
CORN 1,800 2,400 2,589 2,589
Special Producer Storage Loan Program --
WHEAT 165 150 163 163
FEEDGRAINS 7.0 6.7 5.3 5.3
CORN 200 200 147 147
Reuter
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Clevite Industries Inc, which
earlier received a 96 mln dlr takeover offer from J.P.
Industries Inc <JPI>, said it amended its Shareholder Rights
Plan so that certain provisions of the plan cannot occur until
the board determines that it is in the best interests of the
company and stockholders.
The plan, adopted in December 1986, permits Clevite to
issue shares at half price to existing stockholders and allows
stockholders to buy shares of an unfriendly bidder at half
price.
Clevite said the amendments by its board effectively mean
that the so-called flip-in and flip-over provisions of its
rights plan can only be triggered by affirmative board
approval.
The company said it acted inview of the proposed
acquisition and because certain debt restrictions could block
its ability to redeem the rights.
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The U.S. Agriculture Department
forecast the Soviet 1986/87 wheat crop at 92.30 mln tonnes, vs
92.30 mln tonnes last month. It put the 1985/86 crop at 78.10
mln tonnes, vs 78.10 mln tonnes last month.
Soviet 1986/87 coarse grain production is estimated at
103.30 mln tonnes, vs 103.30 mln tonnes last month. Production
in 1985/86 is projected at 99.99 mln tonnes, vs 100.00 mln
tonnes last month.
USSR wheat imports are forecast at 15.00 mln tonnes in
1986/87, vs 15.00 mln tonnes last month. Imports in 1985/86 are
put at 15.70 mln tonnes, vs 15.70 mln tonnes last month. USDA
estimated Soviet 1986/87 coarse grain imports at 12.00 mln
tonnes, vs 10.00 mln tonnes last month, and 1985/86 imports at
13.70 mln tonnes, vs 13.70 mln tonnes last month.
USDA said Soviet coarse grain imports include 1986/87 corn
imports, which it forecast at 8.00 mln tonnes, vs 6.00 mln
tonnes last month. Corn imports in 1985/86 are estimated at
10.40 mln tonnes, vs 10.40 mln last month.
Total Soviet grain imports in 1986/87, at 28.0 mln tonnes,
include one mln tonnes of miscellaneous grains.
Reuter
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The U.S. Agriculture Department gave
the 1986/87 breakdown of supply and distribution for wheats by
classes, in mln bushels, with comparisons, as follows.
HARD WINTER --
1986/87 1985/86
04/09/87 03/09/87 04/09/87 03/09/87
Start Stocks 1,009 1,009 717 717
Production 1,018 1,018 1,230 1,230
Ttl Supply-X 2,027 2,027 1,947 1,947
Domestic Use 599 579 543 543
Exports 450 475 395 395
Total Use 1,049 1,054 938 938
End Stocks 978 973 1,009 1,009
Note - Season begins June 1. X-Includes imports
HARD SPRING --
1986/87 1985/86
04/09/87 03/09/87 04/09/87 03/09/87
Start Stocks 498 498 371 371
Production 451 451 460 460
Ttl Supply-X 956 956 838 838
Domestic Use 218 192 174 174
Exports 200 190 166 166
Total Use 418 382 340 340
End Stocks 538 574 498 498
Note - Season begins June 1. X-Includes imports.
SOFT RED --
1986/87 1985/86
04/09/87 03/09/87 04/09/87 03/09/87
Start Stocks 79 79 64 64
Production 290 290 368 368
Ttl Supply-X 369 369 432 432
Domestic Use 181 193 204 204
Exports 120 120 149 149
Total Use 301 313 353 353
End Stocks 68 56 79 79
Note - Season begins June 1. X-Includes imports
WHITE --
1986/87 1985/86
04/09/87 03/09/87 04/09/87 03/09/87
Start Stocks 198 198 173 173
Production 232 232 254 254
Ttl Supply-X 433 433 430 430
Domestic Use 82 83 80 80
Exports 170 160 152 152
Total Use 252 243 232 232
End Stocks 181 190 198 198
Note - Season begins June 1. X-Includes imports.
DURUM --
1986/87 1985/86
04/09/87 03/09/87 04/09/87 03/09/87
Start Stocks 121 121 100 100
Production 95 95 113 113
Ttl Supply-X 221 221 218 218
Domestic Use 54 58 44 44
Exports 85 80 53 53
Total Use 139 138 97 97
End Stocks 82 83 121 121
Note - Season begins June 1. X-Includes Imports.
Reuter
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The U.S. Agriculture Department
forecast Argentina's 1986/87 coarse grain crop at 13.99 mln
tonnes, vs 15.44 mln tonnes last month. It estimated the
1985/86 crop at 17.06 mln tonnes, vs 17.14 mln last month.
USDA forecast Argentina's 1986/87 wheat crop at 9.00 mln
tonnes, vs 9.00 mln tonnes last month, while the 1985/86 crop
was projected at 8.50 mln tonnes, vs 8.50 mln last month.
USDA forecast Argentine 1986/87 coarse grain exports at
6.60 mln tonnes, vs 7.73 mln tonnes last month, and projected
1985/86 exports at 9.43 mln tonnes, vs 9.58 mln last month.
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The U.S. Agriculture Department
forecast Australia's 1986/87 wheat crop at 16.70 mln tonnes, vs
17.30 mln tonnes last month. It estimated 1985/86 output at
16.13 mln tonnes, vs 16.13 mln last month.
Australian wheat exports in 1986/87 are forecast at 14.50
mln tonnes, vs 14.50 mln tonnes last month, while exports in
1985/86 are estimated at 15.96 mln tonnes, vs 15.96 mln last
month.
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The U.S. Agriculture Department
projected China's 1986/87 wheat crop at 90.30 mln tonnes, vs
88.50 mln tonnes last month. It estimated the 1985/86 crop at
85.81 mln tonnes, vs 85.81 mln last month.
USDA projected China's 1986/87 wheat imports at 7.00 mln
tonnes, vs 7.00 mln tonnes last month, and estimated 1985/86
imports at 6.60 mln tonnes, vs 6.60 mln last month.
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The U.S. Agriculture Department
estimated Canada's 1986/87 wheat crop at 31.85 mln tonnes, vs
31.85 mln tonnes last month. It estimated 1985/86 output at
24.25 mln tonnes, vs 24.25 mln last month.
Canadian 1986/87 coarse grain production is projected at
27.62 mln tonnes, vs 27.62 mln tonnes last month. Production in
1985/86 is estimated at 24.95 mln tonnes, vs 24.95 mln last
month.
Canadian wheat exports in 1986/87 are forecast at 19.00 mln
tonnes, vs 19.00 mln tonnes last month. Exports in 1985/86 are
estimated at 17.72 mln tonnes, vs 17.71 mln last month.
Reuter
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The U.S. Agriculture Department gave
the net change in export commitments, including sales,
cancellations, foreign purchases and cumulative exports, in the
current seasons through the week ended April 2, with
comparisons, as follows, in tonnes, except as noted --
4/2/87 Prev Week
All Wheat 119,800 368,300
Corn 1,001,900 927,000
Soybeans 240,500 300,900
Soy Cake/Meal 117,700 170,200
Soybean Oil 2,400-x 8,100
Cotton-Y 60,200 31,900
x-minus total. Y-running bales.
The indicated totals include reported commitments to both
named and unnamed destinations, sales on exporters' own account
and optional origin sales plus actual exports already made
during the respective marketing seasons.
The USDA cautions that reported outstanding sales are
subject to modification, deferral or cancellation and it is
unlikely that all reported quantities will be exported.
USDA gave detailed breakdowns for the 1986/87 and 1987/88
seasons as follows, in thousand tonnes unless stated --
(A) - Firm sales to a declared destination.
(B) - Ultimate destination not yet declared.
(C) - Sales made on exporters' own account.
(D) - Exporter holds option to fill commitment with supplies
from origins other than U.S.
(E) - Accumulated exports since season began based on data
reported by exporters.
(F) - Indicated total for season.
(G) - USDA-projected exports for season.
Note -- Totals may not add due to rounding.
ALL WHEAT
1986/87 1987/88
4/2/87 Prev Wk 4/3/87 Prev Wk
Named-A 3,157.6 3,684.1 1,591.4 1,635.6
Unnamed-B 143.8 144.3 87.1 57.1
E.O.A.-C 9.5 9.5 nil nil
O.O.P.-D nil nil nil nil
Gr Total 3,310.9 3,837.9 1,679.0 1,692.7
Ay Expd-E 21,044.6 20,433.4
Ind Ttl-F 24,355.5 24,271.3
USDAPRJ-G 27,900.0 27,900.0
SOYBEANS
1986/87 1987/88
4/2/87 Prev Wk 4/2/87 Prev Wk
Named-A 1,774.7 1,780.3 215.9 215.9
Unnamed-B 500.3 524.8 nil 30.0
E.O.A.-C 18.4 18.4 nil nil
O.O.P.-D nil nil nil nil
Gr Total 2,293.4 2,323.5 215.9 245.9
Ay Expd-E 14,334.2 14,183.2
Ind Ttl-F 16,627.6 16,506.7
USDAPRJ-G 19,050.0 19,050.0
CORN
1986/87 1987/88
4/2/87 Prev Wk 4/2/87 Prev WK
Named-A 8,559.8 8,684.8 772.1 268.8
Unnamed-B 945.7 920.1 nil nil
E.O.A-C 90.8 66.9 nil nil
O.O.P-D 138.0 175.0 nil nil
Gr Total 9,734.3 9,846.9 772.1 268.8
Ay Expd-E 20,296.0 19,293.8
Ind Ttl-F 30,030.3 29,140.7
USDAPRJ-G 31,750.0 31,750.0
SORGHUM
1986/87 1987/88
4/2/87 Prev Wk 4/2/87 Prev WK
Named-A 875.6 805.1 nil nil
Unnamed-B 151.2 151.2 10.2-x nil
E.O.A-C nil nil nil nil
O.O.P-D 114.5 138.3 nil nil
Gr Total 1,141.3 1,094.6 10.2-x nil
Ay Expd-E 3,222.5 3,149.7
Ind Ttl-F 4,363.8 4,244.3
USDAPRJ-G 5,720.0 5,720.0
x-minus total
WHEAT PRODUCTS
1986/87 1987/88
4/2/87 Prev Wk 4/2/87 Prev Wk
Named-A 321.0 401.9 nil nil
Unnamed-B nil nil nil nil
E.O.A.-C nil nil nil nil
O.O.P.-D nil nil nil nil
Gr Total 321.0 401.9 nil nil
Ay Expd-E 926.9 840.9
Ind Ttl-F 1,348.2 1,242.8
Note - Includes bulgur, semolina, farina, rolled, cracked and
crushed wheat.
SOYBEAN OIL
1986/87 1987/88
4/2/87 Prev Wk 4/2/87 Prev Wk
Named-A 8.8 10.4 nil nil
Unnamed-B 7.0 10.5 nil nil
E.O.A-C nil nil nil nil
O.O.P-D nil nil nil nil
Gr Total 15.8 20.9 nil nil
Ay Expd-E 138.4 135.8
Ind Ttl-F 154.2 156.7
USDAPRJ-G 610.0 610.0
SOYBEAN CAKE AND MEAL
1986/87 1987/88
4/2/87 Prev Wk 4/2/87 Prev Wk
Named-A 788.0 869.7 50.7 48.4
Unnamed-B 76.0 94.0 nil nil
E.O.A-C 2.7 6.1 nil nil
O.O.P-D nil nil nil nil
Gr Total 866.7 969.8 50.7 48.4
Ay Expd-E 4,098.0 3,880.6
Ind Ttl-F 4,964.7 4,850.4
USDAPRJ-G 5,760.0 5,760.0
COTTONSEED OIL
1986/87 1987/88
4/2/87 Prev Wk 4/2/87 Prev Wk
Named-A 7.4 7.2 nil nil
Unnamed-B 0.3 0.3 nil nil
E.O.A.-C nil nil nil nil
O.O.P.-D 7.8 7.8 nil nil
Gr Total 15.4 15.2 nil nil
ALL UPLAND DOMESTIC RAW COTTON-Y
1986/87 1987/88
4/2/87 Prev Wk 4/2/87 Prev Wk
Named-A 2,007.9 2,076.1 468.2 457.2
Unnamed-B 20.3 20.2 nil nil
E.O.A-C nil nil nil nil
O.O.P-C nil nil nil nil
Gr Total 2,028.2 2,096.3 468.2 457.2
Ay Expd-E 4,333.1 4,204.7
Ind Ttl-F 6,361.3 6,301.0
USDAPRJ-G 6,335.0 6,335.0
Y-In thousand running bales.
BARLEY
1986/87 1987/88
4/2/87 Prev Wk 4/2/87 Prev Wk
Named-A 559.5 584.5 nil nil
Unnamed-B 12.7 12.7 nil nil
E.O.A.-C nil nil nil nil
O.O.P.-D 25.0 25.0 nil nil
Gr Total 597.1 622.1 nil nil
Ay Expt-E 2,464.6 2,440.7
Ind Ttl-F 3,061.7 3,062.8
USDAPRJ-G 3,270.0 3,270.0
OATS
1986/87 1987/88
4/2/87 Prev Wk 4/2/87 Prev Wk
Named-A nil nil nil nil
Unnamed-B nil nil nil nil
E.O.A.-C nil nil nil nil
O.O.P.-D nil nil nil nil
Gr Total nil nil nil nil
Ay Expd-E 2.4 2.4
Ind Ttl-F 2.4 2.4
USDAPRJ-G 30.0 30.0
RICE
1986/87 1987/88
4/2/87 Prev Wk 4/2/87 Prev Wk
Named-A 347.6 369.1 nil nil
Unnamed-B 1.0 1.0 nil nil
E.O.A-C nil nil nil nil
O.O.P-D nil nil nil nil
Gr Total 348.6 370.1 nil nil
Ay Expd-E 1,718.8 1,688.2
Ind Ttl-F 2,067.4 2,058.3
USDAPRJ-G 2,580.0 2,580.0
HARD RED WINTER WHEAT
1986/87 1987/88
4/2/87 Prev Wk 4/2/87 Prev Wk
Named-A 1,738.0 2,019.7 893.0 943.0
Unnamed-B 80.5 70.5 107.6 77.2
E.O.A.-C nil nil nil nil
O.O.P.-D nil nil nil nil
Gr Total 1,818.5 2,090.2 1,000.6 1,020.2
Ay Exp-E 8,332.1 7,974.5
Ind Tl-F 10,150.6 10,064.8
WHITE WHEAT
1986/87 1987/88
4/2/87 Prev Wk 4/2/87 Prev Wk
Named-A 548.5 635.6 58.0 58.0
Unnamed-B 19.0-x 19.0-x 6.0-x 6.0-x
E.O.A.-C nil nil nil nil
O.O.P.-D nil nil nil nil
Gr Total 529.5 616.6 52.0 52.0
Ay Exp-E 3,831.5 3,757.7
Ind Tl-F 4,361.0 4,374.3
x - denotes minus figure
HARD RED SPRING WHEAT
1986/87 1987/88
4/2/87 Prev Wk 4/2/87 Prev Wk
Named-A 576.6 620.6 164.7 164.7
Unnamed-B 29.6 16.0 nil nil
E.O.A.-C 0.9 0.9 nil nil
O.O.P.-D nil nil nil nil
Gr Total 607.1 637.5 164.7 164.7
Ay Exp-E 4,312.4 4,247.6
Ind Tl-F 4,919.5 4,885.1
DURUM WHEAT
1986/87 1987/88
4/2/87 Prev Wk 4/2/87 Prev Wk
Named-A 166.6 280.3 93.4 93.4
Unnamed-B 52.8 76.9 nil nil
E.O.A.-C 2.8 2.8 nil nil
O.O.P.-D nil nil nil nil
Gr Total 222.2 360.0 93.4 93.4
Ay Exp-E 1,842.6 1,727.5
Ind Tl-F 2,064.8 2,087.5
SOFT RED WINTER WHEAT
1986/87 1987/88
4/2/87 Prev Wk 4/2/87 Prev Wk
Named-A 127.8 127.8 382.3 376.5
Unnamed-B nil nil 14.0-x 14.0-x
E.O.A.-C 5.8 5.8 nil nil
O.O.P.-D nil nil nil nil
Gr Total 133.6 133.6 368.3 362.5
Ay Exp-E 2,726.0 2,726.0
Ind Tl-F 2,859.6 2,859.6
x-minus figure
Country and destinations of the identified sales of
commodities reported by exporters in week ended April 2 for
the respective marketing seasons were detailed by the USDA as
follows, with comparisons for the previous week, in thousands
of tonnes, except where noted--
ALL WHEAT
1986/87 1987/88
4/2/87 Prev Wk 4/2/87 Prev Wk
E.C. nil nil 50.0 50.0
Other West
Europe 218.8 236.8 nil nil
East Europe 261.0 346.0 25.0 25.0
ALL WHEAT Continued
1986/87 1987/88
4/2/87 Prev Wk 4/2/87 Prev Wk
USSR nil nil nil nil
Japan 490.4 662.2 nil nil
China 90.0 90.0 910.0 910.0
Taiwan 115.0 141.0 144.0 144.0
Other Asia and
Oceania 654.9 730.9 28.6 78.6
Africa 959.5 1,115.0 167.1 167.1
Western
Hemisphere 367.9 362.1 266.7 260.9
SOYBEANS 1986/87 1987/88
4/2/87 Prev Wk 4/2/87 Prev Wk
E.C. 302.2 317.7 91.4 91.4
Other West
Europe 25.0 25.0 nil nil
East Europe 101.0 101.0 nil nil
Japan 355.4 330.5 nil nil
China nil nil nil nil
Taiwan 472.0 499.0 87.0 87.0
Other Asia and
Oceania 164.6 187.7 nil nil
Africa nil nil nil nil
Western
Hemisphere 354.4 391.5 37.5 37.5
SOYBEAN OIL
1986/87 1987/88
4/2/87 Prev Wk 4/2/87 Prev Wk
E.C. 1.5 1.5 nil nil
India nil nil nil nil
Other Asia and
Oceania nil nil nil nil
Africa nil nil nil nil
Western
Hemisphere 7.3 8.9 nil nil
SOYBEAN CAKE/MEAL
1986/87 1987/88
4/2/87 Prev Wk 4/2/87 Prev Wk
E.C. 301.7 350.7 47.2 45.0
Other West
Europe nil nil nil nil
East Europe nil 36.0 nil nil
Japan nil 3.5 nil nil
Other Asia and
Oceania 25.0 40.0 nil nil
Africa 30.2 38.0 nil nil
Western
Hemisphere 431.0 401.5 3.4 3.4
CORN 1986/87 1987/88
4/2/87 Prev Wk 4/2/87 Prev Wk
E.C. 82.5 22.5 0.2 0.2
Other West
Europe nil 0.8 nil nil
E. Europe 94.0 50.0 50.0 50.0
USSR 2,432.7 2,543.8 nil nil
Japan 2,767.4 2,787.8 52.4 21.0
China 495.0 555.0 nil nil
Taiwan 791.0 836.0 390.0 170.0
Other Asia and
Oceania 721.7 615.2 250.0 nil
Africa 125.0 195.5 nil nil
WestHem 1,050.5 1,114.0 29.4 27.6
UPLAND COTTON (In thousand bales)
1986/87 1987/88
4/2/87 Prev Wk 4/2/87 Prev Wk
E.C. 260.9 266.1 97.9 95.0
Other West
Europe 62.2 66.2 8.7 8.7
E. Europe 3.1 3.1 nil nil
Japan 445.8 484.1 72.3 70.1
Taiwan 377.9 390.4 41.6 39.5
Other Asia and
Oceania 741.7 783.4 244.5 241.1
Africa 16.7 13.4 nil nil
Western
Hemisphere 99.6 69.5 3.2 2.7
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The U.S. Agriculture Department
forecast the European Community's 1986/87 wheat crop at 71.60
mln tonnes, vs 71.50 mln tonnes last month. It estimated
1985/86 output at 71.70 mln tonnes, vs 71.71 mln last month.
E.C. 1986/87 coarse grain production is projected at 81.22
mln tonnes, vs 81.19 mln tonnes last month. The 1985/86 crop is
estimated at 88.21 mln tonnes, vs 88.28 mln last month.
E.C. wheat exports in 1986/87 are forecast at 28.22 mln
tonnes, vs 28.31 mln tonnes last month. Exports in 1985/86 are
estimated at 27.77 mln tonnes, vs 27.62 last month.
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The U.S. Agriculture Department made
the following supply/demand projections for the 1986/87
seasons, in mln bushels, with comparisons, unless noted --
CORN -- 1986/87 1985/86
04/09/87 03/09/87 04/09/87 03/09/87
Acreage (mln acres) --
Planted 76.7 76.7 83.4 83.4
Harvested 69.2 69.2 75.2 75.2
Yield (bu) 119.3 119.3 118.0 118.0
Supply (mln bu) --
Start Stock 4,040 4,040 1,648 1,648
Production 8,253 8,253 8,877 8,877
Total-X 12,295 12,295 10,536 10,536
X-Includes imports.
CORN (cont.)
1986/87 1985/86
04/09/87 03/09/87 04/09/87 03/09/87
Usage: Feed 4,500 4,300 4,095 4,126
Other 1,180 1,150 1,160 1,129
Ttl Domest 5,680 5,450 5,255 5,255
Exports 1,375 1,250 1,241 1,241
Total Use 7,055 6,700 6,496 6,496
End Stocks 5,240 5,595 4,040 4,040
Farmer Reser 1,400 1,300 564 564
CCC Stocks 1,700 1,500 546 546
Free Stocks 2,140 2,795 2,930 2,930
AvgPrice 1.35-1.65 1.35-1.65 2.23 2.23
Note - Price in dlrs per bu. Corn season begins Sept 1.
ALL WHEAT -
1986/87 1985/86
04/09/87 03/09/87 04/09/87 03/09/87
Acreage (mln acres) --
Planted 72.0 72.0 75.6 75.6
Harvested 60.7 60.7 64.7 64.7
Yield 34.4 34.4 37.5 37.5
Supply (mln bu) --
Start Stcks 1,905 1,905 1,425 1,425
Production 2,087 2,087 2,425 2,425
Total
Supply-X 4,007 4,007 3,865 3,865
X - Includes imports.
ALL WHEAT 1986/87 1985/86
(cont.) 04/09/87 03/09/87 04/09/87 03/09/87
Usage: Food 700 690 678 678
Seed 84 90 93 93
Feed 350 325 274 274
Ttl Domest 1,134 1,105 1,045 1,045
Exports 1,025 1,025 915 915
Total Use 2,159 2,130 1,960 1,960
End Stocks 1,848 1,877 1,905 1,905
Farmer Reser 475 450 433 433
CCC Stocks 950 950 602 602
Free Stocks 423 477 870 870
Avg Price 2.30-40 2.30-40 3.08 3.08
Note - Price in dlrs per bushel. Wheat season begins June 1.
SOYBEANS -
1986/87 1985/86
04/09/87 03/09/87 04/09/87 03/09/87
Acreage (mln acres) --
Planted 61.5 61.5 63.1 61.1
Harvested 59.4 59.4 61.6 61.6
Yield (bu) 33.8 33.8 34.1 34.1
Supply (mln bu) --
Start Stocks 536 536 316 316
Production 2,007 2,007 2,099 2,099
Total 2,543 2,543 2,415 2,415
SOYBEANS (cont.)
1986/87 1985/86
04/09/87 03/09/87 04/09/87 03/09/87
Usage --
Crushings 1,130 1,115 1,053 1,053
Exports 700 700 740 740
Seed, Feed and
Residual 103 93 86 86
Total Use 1,933 1,908 1,879 1,879
End Stocks 610 635 536 536
Avg Price 4.60-4.80 4.60-4.80 5.05 5.05
Note - Average price in dlrs per bushel. Soybean season begins
June 1.
FEEDGRAINS - X
1986/87 1985/86
04/09/87 03/09/87 04/09/87 03/09/87
Acreage (mln acres) --
Planted 119.8 119.8 128.1 128.1
Harvested 102.0 102.0 111.8 111.8
Yld (tonnes) 2.48 2.48 2.45 2.45
Supply (mln tonnes) --
Start Stocks 126.4 126.4 57.5 57.5
Production 252.4 252.4 274.4 274.4
Imports 0.6 0.6 0.9 0.9
Total 379.4 379.4 332.7 332.7
X - Includes corn, sorghum, barley, oats.
FEEDGRAINS - X (cont.)
1986/87 1985/86
04/09/87 03/09/87 04/09/87 03/09/87
Usage: Feed 140.6 136.2 134.8 135.5
Other 35.8 35.0 35.0 34.3
Ttl Domest 176.4 171.2 169.8 169.8
Exports 43.9 40.8 36.6 36.6
Total Use 220.3 211.9 206.4 206.4
End Stocks 159.1 167.5 126.4 126.4
Farmer Reser 39.0 36.5 16.6 16.6
CCC Stocks 55.2 49.5 20.4 20.4
Free Stocks 64.8 81.5 89.3 89.3
X - Includes corn, sorghum, oats, barley. Seasons for oats,
barley began June 1, corn and sorghum Sept 1.
SOYBEAN OIL -
1986/87 1985/86
04/09/87 03/09/87 04/09/87 03/09/87
Supply (mln lbs) --
Start Stcks 947 947 632 632
Production 12,263 12,103 11,617 11,617
Imports Nil Nil 8 8
Total 13,210 13,050 12,257 12,257
Note - 1985/86 production estimates based on October year
crush of 1,060 mln bushels.
SOYBEAN OIL (cont.) -
1986/87 1985/86
04/09/87 03/09/87 04/09/87 03/09/87
Usage (mln lbs) --
Domestic 10,500 10,500 10,053 10,053
Exports 1,350 1,350 1,257 1,257
Total 11,850 11,850 11,310 11,310
End Stcks 1,360 1,200 947 947
AvgPrice 14.5-16.0 15.0-17.0 18.00 18.00
Note - Average price in cents per lb. Season for soybean oil
begins Oct 1.
SOYBEAN CAKE/MEAL, in thousand short tons --
1986/87 1985/86
04/09/87 03/09/87 04/09/87 03/09/87
Start Stcks 212 212 387 387
Production 26,558 26,203 24,951 24,951
Total 26,770 26,415 25,338 25,338
Note - 1985/86 production estimates based on October year
crush of 1,060 mln bushels.
SOY CAKE/MEAL (cont.) -
1986/87 1985/86
04/09/87 03/09/87 04/09/87 03/09/87
Usage (thous short tons) --
Domestic 20,000 19,750 19,090 19,118
Exports 6,500 6,350 6,036 6,008
Total 26,500 26,100 25,126 25,126
End Stcks 270 315 212 212
AvgPrice 145-150 145-150 154.90 154.90
Note - Price in dlrs per short ton. Season for soybean cake
and meal begins Oct 1.
COTTON --
1986/87 1985/86
04/09/87 03/09/87 04/09/87 03/09/87
Area (mln acres) --
Planted 10.06 10.06 10.68 10.68
Harvested 8.49 8.49 10.23 10.23
Yield (lbs) 549 553 630 630
Supply (mln 480-lb bales) --
Start Stks-X 9.35 9.35 4.10 4.10
Production 9.70 9.79 13.43 13.43
Ttl Supply-Y 19.06 19.14 17.57 17.57
X - Based on Census Bureau data. Y - Includes imports.
COTTON (cont.) -
1986/87 1985/86
04/09/87 03/09/87 04/09/87 03/09/87
Usage --
Domestic 7.10 7.01 6.40 6.40
Exports 6.66 6.76 1.96 1.96
Total 13.76 13.77 8.36 8.36
End Stocks 5.40 5.49 9.35 9.35
Avge Price 51.7-X 51.7-X 56.50 56.50
X - 1986/87 price is weighted average for first five months of
marketing year, not a projection for 1986/87. Average price in
cents per lb. Cotton season begins August 1.
RICE
1986/87 1985/86
04/09/87 03/09/87 04/09/87 03/09/87
Acreage (mln acres) --
Planted 2.40 2.40 2.51 2.51
Harvested 2.38 2.38 2.49 2.49
Yield (lbs) 5,648 5,648 5,414 5,414
Supply (mln cwts) --
Start Stcks 77.3 77.3 64.7 64.7
Production 134.4 134.4 134.9 134.9
Imports 2.2 2.2 2.2 2.2
Total 213.9 213.9 201.8 201.8
RICE (cont.)
1986/87 1985/86
04/09/87 03/09/87 04/09/87 03/09/87
Usage (mln cwts) --
Domestic 67.0 67.0 65.8 65.8
Exports 80.0 80.0 58.7 58.7
Total-Y 147.0 147.0 124.5 124.5
End Stocks 66.9 66.9 77.3 77.3
CCC Stocks 42.9 42.9 41.5 41.5
Free Stocks 24.0 24.0 35.8 35.8
AvgPrice 3.45-4.25 3.45-4.25 6.53 6.53
Note - Average price in dlrs per CWT. Y-Rough equivalent.
N.A.-Not Available, USDA revising price definition due to
marketing loan. Rice season begins August 1.
SORGHUM
1986/87 1985/86
04/09/87 03/09/87 04/09/87 03/09/87
Yield (bu) 67.7 67.7 66.8 66.8
Supply (mln bu) --
Start Stcks 551 551 300 300
Production 942 942 1,120 1,120
Total 1,493 1,493 1,420 1,420
Usage (mln bu) --
Feed 550 575 662 662
Other 30 30 29 29
Ttl Domest 580 605 691 691
SORGHUM (cont.) -
1986/87 1985/86
04/09/87 03/09/87 04/09/87 03/09/87
Exports 225 225 178 178
Total Use 805 830 869 869
End Stocks 688 663 551 551
Avge Price 1.30-50 1.30-50 1.93 1.93
Note - Price in dlrs per bushel. Sorghum season begins Sept 1.
BARLEY
1986/87 1985/86
04/09/87 03/09/87 04/09/87 03/09/87
Yield (bu) 50.8 50.8 51.0 51.0
Start Stocks 325 325 247 247
Production 610 610 591 591
Imports 5 5 9 9
Total 941 941 847 847
BARLEY (cont.)
1986/87 1985/86
04/09/87 03/15/87 04/09/87 03/15/87
Usage (mln bu) --
Feed 300 300 333 333
Other 175 175 167 167
Ttl Domest 475 475 500 500
Exports 150 150 22 22
Total Use 625 625 522 522
End Stocks 316 316 325 325
AvgPrice 1.45-65 1.45-65 1.98 1.98
Note - Average price in dlrs per bushel. Barley season begins
June 1.
OATS - in mln bushels
1986/87 1985/86
04/09/87 03/09/87 04/09/87 03/09/87
Yield (bu) 56.0 56.0 63.7 63.7
Start Stcks 184 184 180 180
Production 385 385 521 521
Imports 30 30 28 28
Total 598 598 729 729
OATS, in mln bushels (cont.)
1986/87 1985/86
04/09/87 03/09/87 04/09/87 03/09/87
Usage --
Feed 400 400 460 460
Other 85 85 83 83
Ttl Domes 485 485 543 543
Exports 2 2 2 2
Total 487 487 545 545
End Stcks 111 111 184 184
AvgPrice 1.00-20 1.00-20 1.23 1.23
Note - Average price in dlrs per bushel. Oats season begins
June 1.
LONG GRAIN RICE, in mln CWTs (100 lbs) --
1986/87 1985/86
04/09/87 03/09/87 04/09/87 03/09/87
Harvested --
Acres (mln) 1.83 1.83 1.94 1.94
Yield (lbs) 5,358 5,358 5,168 5,168
Start Stks 49.3 49.3 37.7 37.7
Production 97.8 97.8 100.4 100.4
Ttl Supply 148.6 148.6 140.1 140.1
Note -- Starting Stocks does not include broken kernels --
Supply minus use does not equal ending stocks in breakdowns.
Total Supply includes imports but not broken kernels.
LONG GRAIN RICE, in mln CWTs (100 lbs), cont. --
1986/87 1985/86
04/09/87 03/09/87 04/09/87 03/09/87
Domestic Use 43.0 43.0 48.8 48.8
Exports 65.0 60.0 42.0 42.0
Total Use 108.0 103.0 90.8 90.8
End Stocks-X 40.6 45.6 49.3 49.3
AvgPric 3.45-4.25 3.45-4.24 6.86 6.86
Note - Average price in dlrs per cwt. X-Broken kernels not
included -- supply minus use does not equal ending stocks in
breakdowns. Rice season begins August 1.
MEDIUM, SHORT GRAIN RICE - in mln CWTs (100 lbs) --
1986/87 1985/86
04/09/87 03/09/87 04/09/87 03/09/87
Harvested --
Acres (mln) 0.55 0.55 0.55 0.55
Yield (lbs) 6,651 6,651 6,258 6,258
Start Stks 26.7 26.7 25.7 25.7
Production 36.6 36.6 34.5 34.5
Ttl Supply 65.3 65.3 61.7 61.7
Note -- Starting Stocks does not include broken kernels --
Supply minus use does not equal ending stocks in breakdowns.
Total Supply includes imports but not broken kernels.
MEDIUM, SHORT GRAIN RICE, in mln CWTs (100 lbs), cont. --
1986/87 1985/86
04/09/87 03/09/87 04/09/87 03/09/87
Domestic Use 24.0 24.0 17.0 17.0
Exports 15.0 20.0 16.7 16.7
Total Use 39.0 44.0 33.7 33.7
End Stocks-X 24.5 19.5 26.7 26.7
AvgPric 3.45-4.25 3.45-4.25 5.91 5.91
Note - Average price in dlrs per CWT. X-Broken kernels not
included - supply minus use does not equal ending stocks in
breakdowns. Rice season begins August 1.
NOTES ON U.S. SUPPLY/DEMAND TABLES
-- N.A. - Not available.
-- Totals may not add due to rounding.
-- Figures for 1986/87 are midpoint of USDA range.
-- Feed usage for corn, wheat, soybean, feedgrains,
sorghum, barley, oats includes residual amount.
-- Residual amount included in rice and medium/short grain
rice domestic usage.
-- Rice, long grain, and medium/short grain rice average
price for 1985/86 estimates and 1986/87 projections are market
prices and exclude cash retained under the marketing loan since
April, 1986.
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The U.S. Agriculture Department
forecast South Africa's 1986/87 corn crop at 8.50 mln tonnes,
vs 9.50 mln tonnes last month. It estimated the 1985/86 crop at
8.08 mln, vs 8.08 mln last month.
USDA forecast South African 1986/87 corn exports at 2.10
mln tonnes, vs 3.00 mln tonnes last month, and 1985/86 exports
at 2.75 mln tonnes, vs 2.75 mln tonnes last month.
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The Stop and Shop Cos Inc said its board
voted a two-for-one stock split payable July One, to
stockholders of record May 29.
It also said it was raising its quarterly cash dividend 16
pct to 32 cts per share from 27.5 cts per share prior.
As a result of the split, the number of outstanding shares
will increase to 28 mln from 14 mln, the company said.
The dividend is payable July One to shareholders of record
May 29, it said.
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<National Beverage Corp>
said it agreed to acquire <Faygo Beverages Inc> for an
undisclosed amount of cash.
Faygo has revenues in excess of of 100 mln dlrs, National
Beverage said.
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Shr 17 cts vs 28 cts
Net 2,668,000 vs 3,655,000
Revs 93.9 mln vs 83.8 mln
Avg shrs 15.7 mln vs 13.2 mln
12 mths
Shr 48 cts vs 58 cts
Net 7,510,000 vs 7,482,000
Revs 228.8 mln vs 181.9 mln
Avg shrs 15.7 mln vs 12.9 mln
NOTE: full name of company is audio/video affiliates Inc.
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Fluorocarbon Co said it
signed a definitive agreement to acquire Eaton Corp's
Industrial Polymer division for an undisclosed price.
The polymer division, based in Aurora, Ohio, had 1986 sales
of 86 mln dlrs, Fluorocarbon also said.
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Shr 71 cts vs 61 cts
Net 78.5 mln vs 64.6 mln
NOTE: Current qtr includes gain of seven cts/shr from sale
of securities. Year-ago restated.
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Qtr ended February 28
Shr six cts vs three cts
Net 765,138 vs 311,388
Rev 8.3 mln vs 3.7 mln
Avg shares 12,272,265 vs 11,377,491
Six months
Shr 17 cts vs five cts
Net 2,073,057 vs 515,229
Rev 15.0 mln vs 7.4 mln
Avg shares 12,295,934 vs 11,200,000
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Shr 41 cts vs 35 cts
Net 2,362,000 vs 1,613,000
Avg shrs 5,567,300 vs 4,070,700
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Exports of the following commodities
between start of current seasons and April 2, with comparisons,
as reported to USDA by exporters, in thousand tonnes, unless
noted --
4/2/87 Prev Wk 4/3/86
Wheat 21,044.6 20,398.3 19,725.8
Soybeans 14,334.2 14,063.5 14,698.4
Corn 20,296.0 19,194.6 25,182.6-x
Sorghum 3,222.5 3,149.7 3,168.9-x
Soybean Oil 138.4 135.8 179.9
Soybean Meal 4,098.0 3,880.6 3,141.3
Cotton 4,333.1 4,204.7 1,510.4
X-2,059,300 tonnes of corn and 763,800 tonnes of sorghum added
to reflect change in marketing year to Sept-Aug.
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Hawaiian Electric Industries said it
has entered a letter of intent to buy the Hawaiian Insurance
Companies.
The transaction is subject to a definitive agreement, and
government and board approvals.
The Hawaiian Insurance Companies ad assets at the end of
1986 of 137.4 mln dlrs and earned premiums of 46.1 mln dlrs.
Hawaiian Electric said it plans to operate the comapny,
which has 226 employees, with current management.
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The U.S. Agriculture Department
increased its estimate of 1986/87 grain purchases by the Soviet
Union to 28 mln tonnes, up two mln tonnes from last month.
In its monthly report on the Soviet grain situation, the
USDA said imports will be higher than earlier estimated because
Soviet grain buyers have been actively purchasing in the last
month.
USDA said the increased purchasing is "somewhat surprising"
because of recent higher Soviet crop estimates.
All of the increase in estimated imports will be in corn,
USDA said.
Of the 28 mln tonnes total, 15 mln tonnes will be wheat, 12
mln tonnes coarse grains, and the remaining one mln tonnes
miscellaneous grains and pulses, USDA said.
USDA noted that the Soviet winter grain crop suffered
through a severe winter and spring field work has been delayed.
The severe winter "is believed to have resulted in above
average winter-kill," USDA said.
Some grain trade analysts have said abnormal winter losses
maybe one reason why the Soviet Union has been actively buying
grain recently.
USDA said Moscow already has purchased over 25 mln tonnes
grain for delivery in 1986/87, including 14 mln tonnes wheat
and 12 mln tonnes coarse grain.
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The Roy Disney family disclosed in a
filing with the Securities and Exchange Commission that it made
a bid to acquire Holly Sugar Corp for a package of cash and
securities.
Shamrock Holdings of California Inc, a Disney family
company, said it submitted the bid on April 8 to Salomon
Brothers Inc, Holly Sugar's investment banker.
The offer was for 45 dlrs in cash, securities with a face
value of 70 dlrs, and a "contingent payment certificate" that
would pay out as much as 70 dlrs over a 20-year period for each
share of Holly Sugar outstanding.
The Disney family already holds 101,300 Holly Sugar shares
or 9.0 pct of the total outstanding following purchases of
12,500 shares March 13-April 17, Shamrock told the SEC.
Shamrock said it had asked for certain information about
Holly Sugar's financial condition but had been turned down. It
said its offer was therefore subject to further discussions.
"Once we have had an opportunity to complete our due
diligence evaluation of the company, including inspections of
certain facilities and meetings with key management personnel,
we would be prepared to negotiate all aspects of our proposal,
including price," it said in its April 8 letter.
REUTER^M
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Shr 26 cts vs nil
Net 2,244,000 vs nil
Rev 3.4 mln vs nil
NOTE: Company's full name is Universal Health Realty Income
Trust. Quarter is company's first full quarter of earnings.
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Semi-annual div seven cts vs six cts prior
Pay June One
Record May One
.
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C.O.M.B. Co said it acquired for 8.7
mln dlrs the principal assets of National Tech Industries Inc
and Telkon Corp.
The companies are engaged in servicing, sales and
telemarketing of consumer electronic merchandise.
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SHr one cts vs 14 cts
Net 17,806 vs 328,290
Revs 1.3 mln vs 2.2 mln
Nine months
Shr 27 cts vs 26 cts
Net 640,156 vs 622,251
Revs 5.6 mln vs 5.6 mln
NOTE:1986 net includes loss of 49,040 in nine months from
discontinued and gain of 15,598 dlrs in 3rd qtr.
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Centel Corp said it completed the
acquisition of Welbac Cable Television Corp, which serves more
than 2,500 cable television subscribers in east central
Michigan.
Terms were not disclosed.
With the addition of Welbac customers, Centel Cable
Television Co of Michigan serves more than 83,000 customers.
Overall, Centel has nearly 495,000 customers in seven states.
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Qtrly div 10 cts vs 10 cts prior
Pay April 30
Record April 21
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Class A qtly div 2-1/2 cts vs 2-1/2 cts prior
Class B qtly div 1-1/2 cts vs 1-1/2 cts prior
Pay May 8
Record April 24
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The U.S. Agriculture Department made
the following 1986/87 projections in its world Supply/Demand
report, with comparisons, in mln tonnes, except where noted --
Total World Grain
1986/87 1985/86
04/09/87 03/09/87 04/09/87 03/09/87
Produc 1,682.31 1,686.11 1,663.69 1,663.70
Total
Supply 2,025.71 2,028.45 1,919.18 1,920.13
Trade-X 212.15 211.89 204.42 203.92
Usage 1,635.01 1,630.40 1,575.78 1,577.79
End Stks 390.70 398.05 343.40 342.34
X-Based on export estimate.
All Wheat 1986/87 1985/86
04/09/87 03/09/87 04/09/87 03/09/87
Start Stks 137.05 136.48 125.54 125.87
Production 529.20 528.40 498.97 498.81
Imports 97.57 98.27 94.56 94.36
Feed Use 101.79 100.82 90.19 90.56
Total Domes 517.26 514.89 487.45 488.20
Exports 101.08 101.20 95.92 95.76
End Stocks 148.99 149.99 137.05 136.48
Note - World imports/exports may not balance due to differing
marketing years, grains in transit and reporting discrepancies.
Coarse Grain
1986/87 1985/86
04/09/87 03/09/87 04/09/87 03/09/87
Start Stcks 181.64 181.10 107.80 108.40
Production 835.21 838.82 844.60 844.84
Imports 95.66 93.77 95.70 95.18
Feed Use 514.07 510.20 510.20 510.80
Total Domes 796.33 793.64 770.76 772.14
Exports 98.97 98.47 96.02 95.76
End Stocks 220.52 226.28 181.64 181.10
Note - World imports/exports may not balance due to differing
marketing years, grain in transit and reporting discrepancies.
Corn (Mln Tonnes)
1986/87 1985/86
04/09/87 03/09/87 04/09/87 03/09/87
Start Stcks 123.08 123.11 61.09 61.75
Production 477.26 480.29 481.86 481.92
Imports 61.03 58.59 62.12 62.08
Feed Use 295.49 289.47 286.53 287.42
Ttl Domes 444.78 439.80 419.88 420.55
Exports 62.80 62.10 62.53 62.15
End Stocks 155.56 163.61 123.08 123.11
Note - World imports/exports may not balance due to differing
marketing years, grain in transit and reporting discrepancies.
Soybeans
1986/87 1985/86
04/09/87 03/09/87 04/09/87 03/09/87
Start Stcks 23.03 22.84 17.59 17.58
Production 99.98 99.43 96.74 96.53
Imports 26.21 26.27 27.08 27.08
Crushings 79.69 79.33 76.16 76.15
Ttl Domes 97.53 96.40 92.36 92.34
Exports 26.45 26.43 26.02 26.01
End Stocks 25.23 25.71 23.03 22.84
Note - Imports and exports do not balance due to differing
marketing years and time lags between reported exports and
imports.
Soybean Meal
1986/87 1985/86
04/09/87 03/09/87 04/09/87 03/09/87
Start Stocks 2.55 2.47 2.79 2.74
Production 62.71 62.40 60.09 60.09
Imports 23.47 23.49 23.48 23.47
Consumption 62.69 62.49 61.06 61.10
Exports 23.51 23.39 22.76 22.74
End Stocks 2.52 2.47 2.55 2.47
Note - Imports and exports may not balance due to differing
marketing years and time lags between reported exports and
imports.
Soybean Oil
1986/87 1985/86
04/09/87 03/09/87 04/09/87 03/09/87
Start Stocks 1.61 1.51 1.37 1.36
Production 14.20 14.13 13.65 13.66
Imports 3.31 3.29 3.08 3.05
Consumption 14.02 14.03 13.33 13.40
Exports 3.33 3.35 3.15 3.16
End Stocks 1.78 1.54 1.61 1.51
Note - Imports and exports do not balance due to differing
marketing years and time lags between reported exports and
imports.
Cotton (Mln Bales)
1986/87 1985/86
04/09/87 03/09/87 04/09/87 03/09/87
Start Stcks 45.87 48.14 42.70 43.11
Production 69.53 69.66 78.94 78.92
Imports 23.07 23.07 21.49 21.45
Mill Use 80.72 77.08 76.84 74.79
Exports 23.37 23.50 20.25 20.28
End Stocks 34.16 39.99 45.87 48.14
Note - Imports and exports may not balance due to cotton in
transit and reporting discrepancies in some countries.
Rice (Milled Basis)
1986/87 1985/86
04/09/87 03/09/87 04/09/87 03/09/87
Start Stocks 24.71 24.75 22.16 22.16
Production 317.90 318.90 320.12 320.05
Imports 10.56 10.63 11.68 11.70
Dom. Use 321.41 321.87 317.58 317.46
Exports 12.11 12.22 12.49 12.39
End Stocks 21.19 21.78 24.71 24.75
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Shr 22.50 dlrs vs 21.74 dlrs
Assets 546.9 mln vs 485.2 mln
Shrs out 24.3 mln vs 22.3 mln
NOTE: lastest assets after capital gain distributions of 28
cts a share in February 1987 and 2.55 dlrs a share in December
1986
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Shr 31.36 dlrs vs 25.23 dlrs
Assets 286.5 mln vs 253.0 mln
Shrs out 9,138,526 vs 8,839,695
NOTE: latest assets after capital gain distributions of 50
cts a share in February 1987 and 83 cts a share in December
1986, and with 29,955,000 stated value 1.676 dlr convertible
preferred stock outstanding.
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The U.S. Agriculture Department
detailed world supply/demand data for major importers and
exporters of corn, by country, as follows in mln tonnes --
USSR CORN
1986/87 1985/86
04/09/87 03/09/87 04/09/87 03/09/87
Start Stocks N.A. N.A. N.A. N.A.
Production 12.50 12.50 14.40 14.40
Imports 8.00 6.00 10.40 10.40
Domes Use 20.50 19.50 24.40 24.40
Exports Nil Nil Nil Nil
End Stocks N.A. N.A. N.A. N.A.
N.A. - Not Available.
SOUTH AFRICA CORN, in mln tonnes --
1986/87 1985/86
04/09/87 03/09/87 04/09/87 03/09/87
Start Stcks 1.20 1.20 1.87 1.87
Production 8.50 9.50 8.08 8.08
Imports Nil Nil 0.01 0.01
Domes Use 6.10 6.20 6.00 6.00
Exports 2.10 3.00 2.75 2.75
End Stocks 1.50 1.50 1.20 1.20
EC-12 CORN, in mln tonnes --
1986/87 1985/86
04/09/87 03/09/87 04/09/87 03/09/87
Start Stcks 5.17 5.28 2.89 2.89
Production 25.00 25.03 25.70 25.78
Imports 10.69 10.61 12.82 12.82
Domes Use 28.20 29.00 29.46 29.60
Exports 7.91 7.94 6.78 6.61
End Stocks 4.75 3.98 5.17 5.28
ARGENTINA CORN, in mln tonnes --
1986/87 1985/86
04/09/87 03/09/87 04/09/87 03/09/87
Start Stcks 0.52 0.39 0.39 0.39
Production 10.00 11.00 12.10 12.10
Imports Nil Nil Nil Nil
Domes Use 4.60 4.60 4.60 4.60
Exports 5.70 6.50 7.37 7.50
End Stocks 0.22 0.29 0.52 0.39
THAILAND CORN, in mln tonnes --
1986/87 1985/86
04/09/87 03/09/87 04/09/87 03/09/87
Start Stocks 0.43 0.33 0.11 0.11
Production 4.10 4.10 5.35 5.15
Imports Nil Nil Nil Nil
Domestic Use 1.55 1.35 1.35 1.25
Exports 2.80 3.00 3.67 3.67
End Stocks 0.18 0.08 0.43 0.33
JAPAN CORN, in mln tonnes --
1986/87 1985/86
04/09/87 03/09/87 04/09/87 03/09/87
Start Stcks 1.24 1.24 1.06 1.06
Production Nil Nil Nil Nil
Imports 15.50 15.44 14.55 14.55
Domes Use 15.51 15.45 14.37 14.37
Exports Nil Nil Nil Nil
End Stocks 1.24 1.24 1.24 1.24
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The U.S. Agriculture Department said
private U.S. exporters reported sales of 200,000 tonnes of
wheat to Jordan, 300,000 tonnes of soybean meal to Iraq and
100,000 tonnes of corn to Algeria.
The wheat for Jordan includes 165,000 tonnes of hard red
winter and 35,000 tonnes of soft red winter and is for delivery
during the 1987/88 marketing year.
The soybean meal sales to Iraq includes 180,000 tonnes for
delivery during the 1986/87 season and 120,000 tonnes during
the 1987/88 season, the department said.
The 100,000 tonnes of corn sales to Algeria are for
delivery during the 1986/87 season, it said.
The marketing year for wheat begins June 1, corn September
1, and soybean meal October 1.
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International American Homes Inc
said it entered into a conditional contract to acquire the
<Maione-Hirschberg Cos Inc> and affiliated entitles for 19 mln
dlrs.
International American, whose stock was halted on Nasdaq
earlier, said the purchase price is payable 12 mln dlrs in cash
and the balance in its own common shares.
Selling shareholders may earn an additional amount up to a
maximum of eight mln dlrs payable in cash based on the future
performance of the companies acquired during the three years
ending March 31, 1990, International said.
The acquisition is subject to certain conditions, such as
satisfactory results of due diligence investigations, the
company said.
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Sony Corp <SNE.T> chairman Akio
Morita said Sony's profits would be sharply down in 1987 as a
result of the dollar's decline.
Sony Corp posted net consolidated income of 41.89 billion
yen (290 million dollars) in 1986, 42.6 pct down on 1985's
73.02 billion yen (506 million dollars).
But Morita added that Japan would benefit from the strong
yen by saving on its energy import bill and he expected profits
to recover from 1988 onwards.
He was speaking to reporters at a sony factory opening
here.
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The U.S. Agriculture Department
detailed world supply/demand data for major importers and
exporters of coarse grains, by country, as follows in mln
tonnes --
USSR COARSE GRAIN
1986/87 1985/86
04/09/87 03/09/87 04/09/87 03/09/87
Start Stcks N.A. N.A. N.A. N.A.
Production 103.30 103.30 99.99 99.99
Imports 12.00 10.00 13.70 13.70
Domes Use 112.30 112.30 111.99 111.99
Exports NIL NIL NIL NIL
End Stocks N.A. N.A. N.A. N.A.
N.A. - Not Available.
EC-12 COARSE GRAIN, in mln tonnes --
1986/87 1985/86
04/09/87 03/09/87 04/09/87 03/09/87
Start Stcks 14.91 14.93 10.53 10.53
Production 81.22 81.19 88.21 88.28
Imports 16.58 17.26 18.29 18.24
Dom Use 79.64 81.27 82.38 82.55
Exports 19.90 19.96 19.73 19.56
End Stocks 13.18 12.15 14.91 14.93
EASTERN EUROPE COARSE GRAIN, mln tonnes --
1986/87 1985/86
04/09/87 03/09/87 04/09/87 03/09/87
Start Stcks 4.07 3.72 5.14 5.14
Production 73.95 74.50 68.28 68.38
Imports 4.90 4.47 5.58 5.26
Dom Use 73.04 73.23 72.65 72.77
Exports 3.55 3.55 2.28 2.28
End Stocks 6.34 5.46 4.07 3.72
JAPAN COARSE GRAIN, in mln tonnes --
1986/87 1985/86
04/09/87 03/09/87 04/09/87 03/09/87
Start Stcks 2.32 2.23 1.91 1.91
Production 0.35 0.35 0.39 0.39
Imports 21.56 21.50 21.51 21.51
Dom Use 21.79 21.73 21.49 21.49
Exports NIL NIL NIL NIL
End Stocks 2.44 2.44 2.32 2.32
ARGENTINA COARSE GRAIN, in mln tonnes --
1986/87 1985/86
04/09/87 03/09/87 04/09/87 03/09/87
Start Stcks 0.78 0.53 0.83 0.83
Production 13.99 15.44 17.06 17.14
Imports 0.02 NIL NIL NIL
Domes Use 7.73 7.75 7.76 7.87
Exports 6.60 7.73 9.43 9.58
End Stocks 0.46 0.49 0.78 0.53
CANADA COARSE GRAIN, in mln tonnes --
1986/87 1985/86
04/09/87 03/09/87 04/09/87 03/09/87
Start Stcks 6.19 6.19 4.66 4.61
Production 27.62 27.62 24.95 24.95
Imports 0.30 0.30 0.31 0.31
Dom Use 19.80 19.80 18.99 18.96
Exports 7.41 7.21 4.74 4.72
End Stocks 6.90 7.10 6.19 6.19
THAILAND COARSE GRAINS, in mln tonnes --
1986/87 1985/86
04/09/87 03/09/87 04/09/87 03/09/87
Start Stcks 0.49 0.38 0.16 0.16
Production 4.40 4.40 5.67 5.47
Imports NIL NIL NIL NIL
Domes Use 1.57 1.37 1.40 1.30
Exports 3.10 3.30 3.94 3.95
End Stocks 0.22 0.11 0.49 0.38
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The Commodity Credit Corporation
(CCC) accepted eight bonus offers from two exporters on sales
of 190,000 tonnes of hard red winter and 35,000 tonnes of soft
red winter wheat to Jordan, the U.S. Agriculture Department
said.
The department said the bonuses awarded averaged 38.08 dlrs
per tonne and the wheat is for delivery May-November, 1987.
The bonus awards were made to Louis Dreyfus Corp (200,000
tonnes), and Continental Grain Co (25,000 tonnes) and will be
paid in the form of commodities from CCC stocks.
The purchases of U.S. wheat completes the Export
Enhancement Program initiative announced on December 31, 1986.
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Argentine grain board preliminary
figures show 1986/87 crop export registrations of grains and
oilseeds in the week to April 8, were as follows, in tonnes,
compared with the previous week and the comparable week a year
earlier.
BREAD WHEAT nil nil nil
MAIZE 113,500 21,800 51,300
SORGHUM 13,600 nil 26,500
SOYBEAN 30,000 36,000 72,000
SUNFLOWERSEED nil nil 19,100
Cumulative figures export registrations for the 1986/87
crop to April 8, 1987, with comparative figures for the 1985/86
crop up to April 9, 1986, in brackets, were in thousands of
tonnes.
BREAD WHEAT 2,692,4 (4,161.0)
MAIZE 2,305.1 (5,200.0)
SORGHUM 220.5 (625.7)
SOYBEAN 561.3 (524.5)
SUNFLOWERSEED 45.7 (213.2)
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Winn Enterprises' Knudsen Foods Inc
said it entered an agreement to sell its Hawaiian dairy
operations to Foremost Foods Inc for 13 mln dlrs cash.
The company said the purchase price is subject to
adjustment and the entire transaction is subject to approval by
the U.S. Bankruptcy Court for the Central District of
California.
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<National Beverage Corp>
said it agreed to acquire privately held Faygo Beverages Inc
for an undisclosed amount of cash.
The company said Detroit-based Faygo, a soft drink maker,
has annual revenues of more than 100 mln dlrs.
National Beverage, which is also privately held, owns and
bottles Shasta Beverages, Spree All Natural Beverages and
private label brands in its 11 bottling facilities in the
United States.
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The Commodity Credit Corporation
(CCC) accepted a bid for an export bonus to cover a sale of
12,500 tonnes of U.S. wheat flour to Iraq, the U.S. Agriculture
Department said.
The department said the bonus awarded was 105.82 dlrs per
tonne and the wheat flour is for shipment July 1-10, 1987.
The bonus was awarded to The Pillsbury Company and will be
paid in the form of commodities from CCC stocks.
An additional 150,000 tonnes of wheat flour is still
available to Iraq under the Export Enhancement Program
initiative announced January 7, 1987, the department said.
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The U.S. Agriculture Department
detailed rice supply/demand milled-basis data for Thailand, the
world's major rice exporter, as follows in mln tonnes --
1986/87 1985/86
04/09/87 03/09/87 04/09/87 03/09/87
Start Stcks 1.32 1.33 1.46 1.46
Production 11.88 12.14 13.00 13.00
Imports NIL NIL NIL NIL
Domes Use 8.73 8.73 8.80 8.80
Exports 3.70 3.70 4.34 4.34
End Stocks 0.77 1.04 1.32 1.33
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Qtly div 10 cts vs 10 cts prior
Pay April 30
Record April 21
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Shr 10 cts vs 10 cts prior qtr
Pay June one
Record April 24
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Shr 15 cts vs 15 cts prior qtr
Pay June one
Record April 24
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The United States' dependency on
foreign oil sources may reach record levels by the mid-1990s,
according to John H. Lichtblau, president of Petroleum Industry
Research Associates.
Lichtblau, speaking at an alternative energy conference
here, said the U.S. may depend on foreign suppliers for as much
as 52 pct of its oil by 1995, surpasssing the previous high
level of 47 pct in 1977.
"The long term growth in dependency on foreign oil is
inevitable," Lichtblau said. As much as 30 pct of U.S. oil
imports in 1995 could come from OPEC nations, he said.
Lichtblau said the U.S. depended on foreign suppliers for
33 pct of its oil in 1986 and predicted that would increase to
40 pct by 1990.
"However, the rate of this growth can be affected
positively or negatively through government action or
inaction," Lichtblau said.
He said that one of the government's negative actions is
the maintenance of the windfall profits tax which acts as a
disincentive to developing existing fields and reduces cash
flow for oil exploration.
Lichtblau called for the adoption of an international floor
price for crude oil to help stabilize world oil prices.
"An international floor price adopted by all or most
industrial countries would clearly be a much more effective
measure and would be much less distortive for the U.S. than if
we imposed it alone," Lichtblau said.
Development of alternate energy sources such as synthetic
fuels as well as increased development in Alaska could lessen
U.S. dependency on foreign oil, Lichtblau said.
A potential for alternative supplies could limit the
willingness of OPEC nations to raise oil prices, he said.
Lichtblau also called for the federal government to offer
tax abatements for oil drilling, to fill the Strategic
Petroleum Reserve at a faster rate and to develop pilot plans
for alternative energy.
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