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To: mishedlo who wrote (20401)	10/21/2004 10:27:04 AM
From: russwinter	Respond to of 110194

INCREASED CHINESE SOYABEAN PURCHASES EXPECTED 10-21-2004 The Chicago Board of Trade soyabean price for November delivery rose by 0.9% to 532.5 cents/bushel yesterday, Bloomberg reports, as a result of growing expectations that China is to boost purchases of US soyabeans. One week ago, the US Department of Agriculture raised its forecast for US production in 2004/05 (Oct-Sep year) to a massive 84.6 Mt (compared with an estimated 66.8 Mt in 2003/04). Yesterday, the US under-secretary of state for economic affairs said after a meeting with the Chinese Trade Minister that China may boost imports of soyabeans and corn as China’s authorities encourage farmers to produce other crops. From CBOT morning commentary, China has no corn, can they get the shipping is the big question? Very expensive to haul corn and soybeans around the world now.: China demand is thought to be near 133 million tons. Ending stocks in China are thought to be near 28.95 million tons for the 2004/2005 season, down from 43.75 million tons this year, 64.97 million tons last year and 84.79 million tons two years ago.

To: mishedlo who wrote (20401)	10/21/2004 10:57:47 AM
From: RealMuLan	Read Replies (1) \| Respond to of 110194

High prices cut growth in Chinese oil demand By Wing-Gar Cheng and Loretta Ng Bloomberg News Friday, October 22, 2004 BEIJING Growth in Chinese imports of crude oil slowed to 5.7 percent in September from 37 percent in August, figures showed Thursday, underscoring a prediction by the International Energy Agency that record-high international prices would curb demand for the fuel. . Refiners paid $3.2 billion for 10.35 million metric tons of imports in September, the Customs General Administration of China said in Beijing. The 9.33 million tons imported in August cost $2.7 billion. . China has led a growth in global oil demand in the past two years, contributing to an 80 percent gain in prices over the past year. iht.com .