reuters_bert_metadata.tsv

Label	Sentence
wheat	SRI LANKA GETS USDA APPROVAL FOR WHEAT PRICE Food Department officials said the U . S . Department of Agriculture approved the Continental Grain Co sale of 52 , 500 tonnes of soft wheat at 89 U . S . Dlrs a tonne C and F from Pacific Northwest to Colombo .
wheat	They said the shipment was for April 8 to 20 delivery .
wheat	FURTHER ARGENTINE COARSE GRAIN LOSSES FEARED Argentine grain producers adjusted their yield estimates for the 1986 / 87 coarse grain crop downward in the week to yesterday after the heavy rains at the end of March and beginning of April , trade sources said .
wheat	They said sunflower , maize and sorghum production estimates had been reduced despite some later warm , dry weather , which has allowed a return to harvesting in some areas .
wheat	However , as showers fell intermittently after last weekend , producers feared another spell of prolonged and intense rain could cause more damage to crops already badly hit this season .
wheat	Rains in the middle of last week reached an average of 27 millimetres in parts of Buenos Aires province , 83 mm in Cordoba , 41 in Santa Fe , 50 in Entre Rios and Misiones , 95 in Corrientes , eight in Chaco and 35 in Formosa .
wheat	There was no rainfall in the same period in La Pampa .
wheat	Producers feared continued damp conditions could produce rotting and lead to still lower yield estimates for all the crops , including soybean .
wheat	However , as the lands began drying later in the week harvesting advanced considerably , reaching between 36 and 40 pct of the area sown in the case of sunflower .
wheat	Deterioration of the sunflower crop evident in harvested material in Cordoba , La Pampa and Buenos Aires forced yield estimates per hectare to be adjusted down again .
wheat	The season ' s sunflowerseed production is now forecast at 2 . 1 mln to 2 . 3 mln tonnes , against 2 . 2 mln to 2 . 4 mln forecast last week and down 43 . 9 to 48 . 8 pct on the 1985 / 86 record of 4 . 1 mln .
wheat	Area sown to sunflowers was two to 2 . 2 mln hectares , 29 . 9 to 36 . 3 pct below the record 3 . 14 mln hectares last season .
wheat	Maize harvesting has also reached 36 to 40 pct of the area sown .
wheat	It is near completion in Cordoba and Santa Fe and will begin in La Pampa and southern Buenos Aires later in April .
wheat	Production estimates for maize were down from last week at 9 . 5 mln to 9 . 8 mln tonnes , against 9 . 6 mln to 9 . 9 mln estimated previously .
wheat	This is 22 . 2 to 23 . 4 pct below the 12 . 4 mln to 12 . 6 mln tonnes estimated by private sources for the 1985 / 86 crop and 21 . 9 to 25 . 8 pct down on the official figure of 12 . 8 mln tonnes .
wheat	Maize was sown on 3 . 58 mln to 3 . 78 mln hectares , two to seven pct down on last season ' s 3 . 85 mln .
wheat	Sorghum was harvested on 23 to 25 pct of the area sown in Cordoba , Santa Fe and Chaco .
wheat	Harvest will start in La Pampa and Buenos Aires in mid - April .
wheat	The total area sown was 1 . 23 mln to 1 . 30 mln hectares , 10 . 3 to 15 . 2 pct down on the 1 . 45 mln sown last season .
wheat	The new forecast for the sorghum crop is 2 . 9 mln to 3 . 2 mln tonnes compared with three mln to 3 . 3 mln forecast last week , and is 23 . 8 to 29 . 3 pct down on last season ' s 4 . 1 mln to 4 . 2 mln tonne crop .
wheat	The soybean crop for this season was not adjusted , remaining at a record 7 . 5 mln to 7 . 7 mln tonnes , up 4 . 2 to 5 . 5 pct on the 7 . 2 mln to 7 . 3 mln estimated by private sources for 1985 / 86 and 5 . 6 to 8 . 5 pct higher than the official figure of 7 . 1 mln .
wheat	The area sown to soybeans this season was a record 3 . 7 mln to 3 . 8 mln hectares , 10 . 8 to 13 . 8 pct up on the record 3 . 34 mln sown in 1985 / 86 .
wheat	The soybean crop is showing excessive moisture in some areas and producers fear they may discover more damage .
wheat	Some experimental harvesting was carried out in Santa Fe on areas making up only about one pct of the total crop but details on this were not available .
wheat	Preparation of the fields for the 1987 / 88 wheat crop , which will be sown between May and August or September , has so far not been as intense as in previous years .
wheat	HONDURAS SEEKING PL - 480 BULK WHEAT APRIL 13 Honduras will tender April 13 under Public Law 480 for approximately 52 , 500 tonnes of various wheats in bulk , an agent for the country said .
wheat	The agent said Honduras is seeking U . S . no .
wheat	2 or better northern spring / DNS , with 14 pct protein minimum and 13 pct moisture maximum , and U . S . no .
wheat	2 or better hard red winter , with 12 pct protein minimum and 13 pct moisture maximum .
wheat	The agent said NS / DNS laydays include July 1 - 10 for 7 , 500 - 9 , 500 tonnes , Aug 1 - 10 for 8 , 000 - 10 , 000 tonnes , and Sept 15 - 25 for 12 , 500 - 14 , 500 tonnes .
wheat	HRW laydays include June 20 - 30 on 5 , 000 - 7 , 000 tonnes , July 15 - 25 for 6 , 500 - 8 , 500 tonnes , and September 15 - 25 for 7 , 000 - 9 , 000 tonnes .
wheat	Offers are due by 1550 hrs EDT , April 13 , and will remain valid until 1000 hrs EDT , April 14 , the agent said .
wheat	TUNISIA EXPECTED TO TENDER FOR FRENCH WHEAT Tunisia is expected to tender April 14 for 100 , 000 tonnes of French soft wheat for delivery between May and August and which would be covered by the French export credit agency , COFACE , export credits , traders said here .
wheat	No official tender has been announced yet by Tunisia , they said .
wheat	France has sold a total of 200 , 000 tonnes of soft wheat to Tunisia since the begining of the current campaign which was covered by COFACE export credits .
wheat	Of this amount , a total of 150 , 000 tonnes was exported by March 1 , they said .
wheat	CCC ACCEPTS EXPORT BID FOR WHEAT FLOUR TO IRAQ The Commodity Credit Corporation has accepted a bid for an export bonus to cover a sale of 12 , 500 tonnes of wheat flour to Iraq , the U . S . AGriculture Department said .
wheat	The bonus awarded was 113 . 0 dlrs per tonne and will be paid to Peavey Company in the form of commodities from CCC stocks .
wheat	The wheat flour is for delivery May 15 - June 15 , 1987 , the department said .
wheat	An additional 162 , 500 tonnes of wheat flour are still available to Iraq under the Export Enhancement Program initiative announced January 7 , 1987 , USDA said .
wheat	EGYPT AUTHORIZED TO BUY PL - 480 WHEAT - USDA Egypt has been authorized to purchase about 200 , 000 tonnes of U . S . wheat under an existing PL - 480 agreement , the U . S . Agriculture Department said .
wheat	It may buy the wheat , valued at 22 . 0 mln dlrs , between April 15 and August 31 , 1987 , and ship it from U . S . ports by September 30 , the department said .
wheat	USDA DISCUSSING PL 480 AGREEMENT WITH MOROCCO The U . S . Agriculture Department is currently discussing an amendment to a PL 480 agreement signed with Morocco on January 22 , but the mix of commodities under the amendment has not been determined , a U . S . Agriculture Department official said .
wheat	The official noted the agreement signed in January provided for the supply of about 55 , 000 tonnes of vegetable oil , 55 , 000 tonnes of corn and 126 , 000 tonnes of wheat , all for delivery during the current fiscal year , ending this September 30 .
wheat	No purchase authorizations for the commodities provided in the January agreement have been announced by the department .
wheat	CHINA ' S WHEAT CROP THREATENED BY PESTS , DISEASE Pests and disease , which destroyed 1 . 1 mln tonnes of wheat in China in 1986 , are threatening crops on 11 . 64 mln hectares this year , the China Daily said .
wheat	About 14 . 54 mln hectares of wheat were affected in 1986 .
wheat	The paper said abnormal weather conditions had encouraged the spread of wheat midges in 2 . 47 mln hectares in Shanxi , Henan , Sichuan , Anhui , Hebei and Jiangsu .
wheat	In Henan , Shandong and Hebei wheat aphids are affecting 4 . 67 mln hectares , wheat red mite 2 . 8 mln hectares and wheat powdery mildew 1 . 7 mln hectares .
wheat	FAO SEES LOWER GLOBAL WHEAT , GRAIN OUTPUT IN 1987 The U . N . Food and Agriculture Organisation ( FAO ) said global wheat and coarse grain output was likely to fall in 1987 but supplies would remain adequate to meet demand .
wheat	FAO said in its monthly food outlook bulletin total world grain output was expected to fall 38 mln tonnes to 1 , 353 mln in 1987 , due mainly to unusually high winter losses in the Soviet Union , drought in China and reduced plantings in North America .
wheat	World cereal stocks at the end of 1986 / 87 were forecast to rise 47 mln tonnes to a record 452 mln tonnes , softening the impact of reduced production .
wheat	But stocks are unevenly distributed , with about 50 pct held by the U . S . " Thus the food security prospects in 1987 / 88 for many developing countries , particularly in Africa , depend crucially on the outcome of this year ' s harvests ," FAO said .
wheat	FAO said world cereal supplies in 1986 / 87 were estimated at a record 2 , 113 mln tonnes , about five pct higher than last season and due mainly to large stocks and a record 1986 harvest , estimated at 1 , 865 mln tonnes .
wheat	FAO ' s forecast of 1986 / 87 world cereals trade was revised upwards by eight mln tonnes to 179 mln due to the likelihood of substantial buying by China and the Soviet Union .
wheat	RPT - ARGENTINE GRAIN / OILSEED EXPORT PRICES ADJUSTED The Argentine Grain Board adjusted minimum export prices of grain and oilseed products in dlrs per tonne FOB , previous in brackets , as follows : Sorghum 64 ( 63 ), sunflowerseed cake and expellers 103 ( 102 ) , pellets 101 ( 100 ), meal 99 ( 98 ), linseed oil 274 ( 264 ), groundnutseed oil 450 ( 445 ), soybean oil 300 ( 290 ), rapeseed oil 290 ( 280 ).
wheat	Sunflowerseed oil for shipment through May 323 ( 313 ) and june onwards 330 ( 320 ).
wheat	The board also adjusted export prices at which export taxes are levied in dlrs per tonne FOB , previous in brackets , as follows : Bran pollard wheat 40 ( 42 ), pellets 42 ( 44 ).
wheat	INDIA FOODGRAIN TARGET 160 MLN TONNES IN 1987 / 88 India ' s national foodgrain target has been fixed at 160 mln tonnes in 1987 / 88 ( Apr - Mar ), unchanged from the 1986 / 87 target , the Agriculture Ministry said in its annual report for 1986 / 87 .
wheat	Actual output was estimated at 151 mln tonnes in 1986 / 87 due to failure of monsoon rains in 15 out of 35 meterological sub - divisions of the country .
wheat	The report gave the targets for various crops with estimated harvested crops in 1986 / 87 in brackets as following , in mln tonnes - rice 65 ( 60 ), wheat 49 ( 49 ), coarse grains including sorghum and millets 32 ( 29 ) and pulses 14 ( 13 ).
wheat	Despite failure of monsoon rains in recent years , it was possible to maintain higher foodgrain production , signifying growing resilience in agricultural sector , the report said .
wheat	The strategy for increasing irrigation potential along with greater use of high yielding seed varieites and improvement in fertiliser efficiency is yielding results , it said , adding total foodgrain output in 1985 / 86 , 1984 / 85 and 1983 / 84 respectively was 150 . 5 mln tonnes , 145 . 5 mln and a record 152 . 4 mln .
wheat	India has targeted to produce between 178 and 183 mln tonnes of foodgrains by the last year of the seventh five - year development plan ending March 31 , 1990 .
wheat	Taking the midpoint of 180 mln tonnes as the target and the 1986 / 87 estimated production of around 151 mln tonnes , the gap of 29 mln tonnes has to be made up during the remaining three years of the plan by increasing grain output annually by more than nine mln tonnes .
wheat	But the target can be achieved only with good weather , the report said .
wheat	" The major thrust programme will , therefore , be better water ( irrigation ) management .
wheat	Simultaneously , efforts for spread of improved technology including timely use of inputs ( farm materials like fertilisers ) in adequate quantities have to be vigrously pursued ," it said .
wheat	EGYPT BUYS PL 480 WHEAT FLOUR - U . S . TRADERS Egypt bought 125 , 723 tonnes of U . S . wheat flour in its PL 480 tender yesterday , trade sources said .
wheat	The purchase included 51 , 880 tonnes for May shipment and 73 , 843 tonnes for June shipment .
wheat	Price details were not available .
wheat	YUGOSLAVIA TO TENDER FOR 100 , 000 TONNES WHEAT Yugoslavia will tender April 14 for 100 , 000 tonnes of wheat , the U . S . Agriculture Department ' s Counselor in Belgrade said in a field report .
wheat	The report , dated April 7 , said the wheat must be from 1986 and 1987 harvest , and imports of soft wheat from Europe and from other suppliers will not be considered .
wheat	It said the imports will be used to rebuild the federal reserves and as a result will not be subject to import surcharges .
wheat	FRENCH FREE MARKET CEREAL EXPORT BIDS DETAILED French operators have requested licences to export 320 , 000 tonnes of free market barley , 225 , 000 tonnes of maize , 25 , 000 tonnes of free market bread - making wheat and 20 , 000 tonnes of feed wheat at today ' s EC tender , trade sources said .
wheat	For the barley , rebates of between 138 and 141 . 25 European currency units ( Ecus ) per tonne were sought , for maize they were between 129 . 65 and 139 Ecus , for bread - making wheat around 145 Ecus and for feed wheat around 142 . 45 Ecus .
wheat	Barley rebates of up to 138 . 50 Ecus were requested for a total of 40 , 000 tonnes and at 139 Ecus for 85 , 000 tonnes .
wheat	Rebates of up to 130 Ecus per tonne were requested for a total of 55 , 000 tonnes maize and up to 131 Ecus for 105 , 000 tonnes , the sources said .
wheat	EC GRANTS FREE MARKET BARLEY , MAIZE EXPORTS The European Commission authorised the export of 65 , 000 tonnes of free market barley at today ' s tender at a maximum rebate of 138 . 75 European currency units and 55 , 000 tonnes of French maize at 130 Ecus , grain traders here said .
wheat	It rejected bids for breadmaking and feed wheat , they said .
wheat	BRAZIL SOYBEAN YIELDS SEEN AVERAGE - USDA REPORT Based on field travel in the Brazilian state of Parana , soybean yields should be about average or 2 . 0 to 2 . 2 tonnes per hectare , the U . S . Agriculture Department ' s officer in Sao Paulo said in a field report .
wheat	The report , dated March 24 , noted Parana accounts for about 20 to 24 pct of Brazil ' s total soybean crop .
wheat	It said generally favorable weather from early December through February helped compensate for earlier dryness .
wheat	However , hot , dry weather during the past 20 to 30 days followed by an unseasonably brief cold spell during the second week of march has raised concern about late planted soybeans which are still immature , but the impact may be localized , the report said .
wheat	The corn crop is expected to be a record and will create serious storage problems , the report said .
wheat	Due to favorable support prices , corn area increased by more than 25 pct at the expense of soybeans , and yields are expected to be above average , it said .
wheat	Due to late plantings only about 20 pct of the corn crop crop has been harvested .
wheat	During the field trip long truck lines were noted at grain elevators where preference is given to soybeans over corn , the report said .
wheat	New crop wheat plantings are expected to decline -- Parana accounts for about 60 pct of total production .
wheat	Major reasons for the decline are expected reduced government support price and good summer crop harvests .
wheat	LONDON GRAIN FREIGHT ENQUIRIES Antwerp / Libya 5 , 500 mt bagged flour 14 daps 24 - 27 / 4 .
wheat	New Orleans / Guanta 9 , 387 mt bulk hss 3 , 000 / 13 days 25 - 4 / 5 - 5 .
wheat	Naantali / Saudi Red Sea 30 , 000 / 35 , 000 mt barley 4 , 000 / 3 , 000 20 - 30 / 4 or early May .
wheat	Dunkirk / Xingang 12 , 000 mt bagged flour 1 , 500 / 1 , 700 13 - 20 / 4 .
wheat	Toledo / Seaforth 17 , 000 mt hss offers 18 . 50 dlrs four days / 8 , 000 13 - 15 / 4 .
wheat	River Plate / Malaysia 20 , 000 / 22 , 000 long tons hss 2 , 000 / 2 , 000 Apr .
wheat	EGYPT CANCELS WHEAT TENDER 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 .
wheat	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 .
wheat	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 .
wheat	The official denied trade reports that the government might have substituted a private deal with Islamic Corp for the original tender .
wheat	USDA - U . S . 1986 / 87 ENDING CORN STOCKS 5 , 240 MLN BU , WHEAT 1 , 848 MLN , SOYBEANS 610 MLN
wheat	USDA - U . S . 1986 / 87 ENDING CORN STOCKS 5 , 240 MLN BU , WHEAT 1 , 848 MLN , SOYBEANS 610 MLN
wheat	U . S . SUPPLY / DEMAND HIGHLIGHTS 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 .
wheat	Stocks , Aug 31 , 1986 , at 4 , 040 , vs 4 , 040 last month .
wheat	Exports projected at 1 , 375 , vs 1 , 250 last month .
wheat	Exports in 1985 / 86 at 1 , 241 , vs 1 , 241 last month .
wheat	Domestic use at 5 , 680 , vs 5 , 450 last month .
wheat	Usage in the 1985 / 86 season at 5 , 255 , vs 5 , 255 last month .
wheat	Wheat -- Stocks , May 31 , 1987 , projected at 1 , 848 , vs 1 , 877 last month .
wheat	Stocks on May 31 , 1986 , at 1 , 905 , vs 1 , 905 last month .
wheat	Exports in 1986 / 87 season at 1 , 025 , vs 1 , 025 last month .
wheat	1985 / 86 season at 915 , vs 915 last month .
wheat	Domestic use in 1986 / 87 at 1 , 134 , vs 1 , 105 last month .
wheat	1985 / 86 at 1 , 045 , vs 1 , 045 last month .
wheat	Cotton -- in mln 480 lb bales - Stocks , July 31 , 1987 , at 5 . 40 , vs 5 . 49 last month .
wheat	Stocks July 31 , 1986 , at 9 . 35 , vs 9 . 35 last month .
wheat	Exports in 1986 / 87 season at 6 . 66 , vs 6 . 76 last month .
wheat	Exports in 1985 / 86 - 1 . 96 , vs 1 . 96 last month .
wheat	Soybeans -- in mln bushels - Stocks , Aug 31 , 1987 , projected at 610 , vs 635 last month .
wheat	Stocks Aug 31 , 1986 , at 536 , vs 536 last month .
wheat	Soybean crushings during 1986 / 87 - 1 , 130 , vs 1 , 115 last month .
wheat	Crushings in 1985 / 86 at 1 , 053 , vs 1 , 053 last month .
wheat	Exports in 1986 / 87 season at 700 , vs 700 last month .
wheat	Exports in 1985 / 86 at 740 , vs 740 last month .
wheat	Soybean Oil -- mln lbs - Stocks on Sept 30 , 1987 , at 1 , 360 , vs 1 , 200 last month .
wheat	Stocks on Sept 30 , 1986 , at 947 , vs 947 last month .
wheat	Exports in 1986 / 87 at 1 , 350 , vs 1 , 350 last month .
wheat	Exports in 1985 / 86 at 1 , 257 , vs 1 , 257 last month .
wheat	Soybean Cake / Meal -- thousand short tons - Stocks , Sept 30 , 1987 , at 270 , vs 315 last month .
wheat	Stocks , Sept 30 , 1986 , at 212 , vs 212 last month .
wheat	Exports in 1986 / 87 season at 6 , 500 , vs 6 , 350 last month .
wheat	Exports in 1985 / 86 at 6 , 036 , vs 6 , 008 last month .
wheat	USDA DETAILS FREE GRAIN STOCKS UNDER LOAN 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
wheat	USDA ESTIMATES SOVIET WHEAT , COARSE GRAINS The U . S . Agriculture Department forecast the Soviet 1986 / 87 wheat crop at 92 . 30 mln tonnes , vs 92 . 30 mln tonnes last month .
wheat	It put the 1985 / 86 crop at 78 . 10 mln tonnes , vs 78 . 10 mln tonnes last month .
wheat	Soviet 1986 / 87 coarse grain production is estimated at 103 . 30 mln tonnes , vs 103 . 30 mln tonnes last month .
wheat	Production in 1985 / 86 is projected at 99 . 99 mln tonnes , vs 100 . 00 mln tonnes last month .
wheat	USSR wheat imports are forecast at 15 . 00 mln tonnes in 1986 / 87 , vs 15 . 00 mln tonnes last month .
wheat	Imports in 1985 / 86 are put at 15 . 70 mln tonnes , vs 15 . 70 mln tonnes last month .
wheat	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 .
wheat	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 .
wheat	Corn imports in 1985 / 86 are estimated at 10 . 40 mln tonnes , vs 10 . 40 mln last month .
wheat	Total Soviet grain imports in 1986 / 87 , at 28 . 0 mln tonnes , include one mln tonnes of miscellaneous grains .
wheat	WHEAT BY CLASS BREAKDOWN 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 .
wheat	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 .
wheat	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 .
wheat	X - Includes imports .
wheat	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 .
wheat	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 .
wheat	X - Includes imports .
wheat	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 .
wheat	X - Includes Imports .
wheat	USDA ESTIMATES ARGENTINE COARSE GRAIN , WHEAT 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 .
wheat	It estimated the 1985 / 86 crop at 17 . 06 mln tonnes , vs 17 . 14 mln last month .
wheat	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 .
wheat	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 .
wheat	USDA ESTIMATES AUSTRALIA WHEAT CROP The U . S . Agriculture Department forecast Australia ' s 1986 / 87 wheat crop at 16 . 70 mln tonnes , vs 17 . 30 mln tonnes last month .
wheat	It estimated 1985 / 86 output at 16 . 13 mln tonnes , vs 16 . 13 mln last month .
wheat	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 .
wheat	USDA ESTIMATES CHINA WHEAT The U . S . Agriculture Department projected China ' s 1986 / 87 wheat crop at 90 . 30 mln tonnes , vs 88 . 50 mln tonnes last month .
wheat	It estimated the 1985 / 86 crop at 85 . 81 mln tonnes , vs 85 . 81 mln last month .
wheat	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 .
wheat	USDA ESTIMATES CANADIAN CROPS The U . S . Agriculture Department estimated Canada ' s 1986 / 87 wheat crop at 31 . 85 mln tonnes , vs 31 . 85 mln tonnes last month .
wheat	It estimated 1985 / 86 output at 24 . 25 mln tonnes , vs 24 . 25 mln last month .
wheat	Canadian 1986 / 87 coarse grain production is projected at 27 . 62 mln tonnes , vs 27 . 62 mln tonnes last month .
wheat	Production in 1985 / 86 is estimated at 24 . 95 mln tonnes , vs 24 . 95 mln last month .
wheat	Canadian wheat exports in 1986 / 87 are forecast at 19 . 00 mln tonnes , vs 19 . 00 mln tonnes last month .
wheat	Exports in 1985 / 86 are estimated at 17 . 72 mln tonnes , vs 17 . 71 mln last month .
wheat	USDA ESTIMATES EUROPEAN COMMUNITY CROPS 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 .
wheat	It estimated 1985 / 86 output at 71 . 70 mln tonnes , vs 71 . 71 mln last month .
wheat	E . C .
wheat	1986 / 87 coarse grain production is projected at 81 . 22 mln tonnes , vs 81 . 19 mln tonnes last month .
wheat	The 1985 / 86 crop is estimated at 88 . 21 mln tonnes , vs 88 . 28 mln last month .
wheat	E . C .
wheat	wheat exports in 1986 / 87 are forecast at 28 . 22 mln tonnes , vs 28 . 31 mln tonnes last month .
wheat	Exports in 1985 / 86 are estimated at 27 . 77 mln tonnes , vs 27 . 62 last month .
wheat	U . S . SUPPLY / DEMAND DETAILED BY USDA 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 .
wheat	CORN ( cont .)
wheat	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 .
wheat	Corn season begins Sept 1 .
wheat	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 .
wheat	ALL WHEAT 1986 / 87 1985 / 86 ( cont .)
wheat	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	Wheat season begins June 1 .
wheat	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 .)
wheat	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 .
wheat	Soybean season begins June 1 .
wheat	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 .
wheat	FEEDGRAINS - X ( cont .)
wheat	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 .
wheat	Seasons for oats , barley began June 1 , corn and sorghum Sept 1 .
wheat	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 .
wheat	SOYBEAN OIL ( cont .)
wheat	- 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 .
wheat	Season for soybean oil begins Oct 1 .
wheat	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 .
wheat	SOY CAKE / MEAL ( cont .)
wheat	- 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 .
wheat	Season for soybean cake and meal begins Oct 1 .
wheat	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 .
wheat	Y - Includes imports .
wheat	COTTON ( cont .)
wheat	- 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 .
wheat	Average price in cents per lb .
wheat	Cotton season begins August 1 .
wheat	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 .)
wheat	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 .
wheat	Y - Rough equivalent .
wheat	N . A .- Not Available , USDA revising price definition due to marketing loan .
wheat	Rice season begins August 1 .
wheat	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 .)
wheat	- 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 .
wheat	Sorghum season begins Sept 1 .
wheat	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 .)
wheat	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 .
wheat	Barley season begins June 1 .
wheat	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 .)
wheat	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 .
wheat	Oats season begins June 1 .
wheat	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 .
wheat	Total Supply includes imports but not broken kernels .
wheat	LONG GRAIN RICE , in mln CWTs ( 100 lbs ), cont .
wheat	-- 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 .
wheat	X - Broken kernels not included -- supply minus use does not equal ending stocks in breakdowns .
wheat	Rice season begins August 1 .
wheat	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 .
wheat	Total Supply includes imports but not broken kernels .
wheat	MEDIUM , SHORT GRAIN RICE , in mln CWTs ( 100 lbs ), cont .
wheat	-- 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 .
wheat	X - Broken kernels not included - supply minus use does not equal ending stocks in breakdowns .
wheat	Rice season begins August 1 .
wheat	NOTES ON U . S . SUPPLY / DEMAND TABLES -- N . A .
wheat	- Not available .
wheat	-- Totals may not add due to rounding .
wheat	-- Figures for 1986 / 87 are midpoint of USDA range .
wheat	-- Feed usage for corn , wheat , soybean , feedgrains , sorghum , barley , oats includes residual amount .
wheat	-- Residual amount included in rice and medium / short grain rice domestic usage .
wheat	-- 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 .
wheat	SEASONAL EXPORTS REPORTED BY U . S .
wheat	EXPORTERS 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 .
wheat	SOVIET UNION TO IMPORT MORE GRAIN IN 86 / 87 - USDA 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 .
wheat	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 .
wheat	USDA said the increased purchasing is " somewhat surprising " because of recent higher Soviet crop estimates .
wheat	All of the increase in estimated imports will be in corn , USDA said .
wheat	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 .
wheat	USDA noted that the Soviet winter grain crop suffered through a severe winter and spring field work has been delayed .
wheat	The severe winter " is believed to have resulted in above average winter - kill ," USDA said .
wheat	Some grain trade analysts have said abnormal winter losses maybe one reason why the Soviet Union has been actively buying grain recently .
wheat	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 .
wheat	U . S .
wheat	EXPORTERS REPORT 200 , 000 TONNES WHEAT SOLD TO JORDAN FOR 1987 / 88 DELIVERY
wheat	U . S .
wheat	EXPORTERS REPORT 200 , 000 TONNES WHEAT SOLD TO JORDAN FOR 1987 / 88 DELIVERY
wheat	WORLD SUPPLY / DEMAND ESTIMATES ISSUED BY USDA 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 .
wheat	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 .
tea	PAKISTAN CONFIRMS KENYA TEA IMPORT INVESTIGATION Pakistan ' s Corporate Law Authority , CLA , has begun an enquiry into imports of tea from Kenya and the trade imbalance between the two countries , CLA chairman Irtiza Husain confirmed .
tea	He told Reuters by telephone that importers Liptons and Brooke Bond had been asked to supply data to the authority and a hearing would be held .
tea	The CLA would then report back to the Commerce Ministry , which had requested the enquiry .
tea	Husain said no date had yet been set for the hearing and declined to give further details of the matter .
tea	Industry sources told Reuters reports that the companies ' tea import licences had been suspended were incorrect .
tea	SRI LANKAN TEA WORKERS LAUNCH ONE - DAY PROTEST Thousands of tea workers of Indian origin went on strike today to press demands for citizenship and voting rights in Sri Lanka , a union statement said .
tea	The Ceylon Workers Congress ( CWC ) said its 400 , 000 members launched a prayer campaign at temples and other places in a non - violent protest to get the authorities to expedite citizenship procedures .
tea	A CWC spokesman said a three - day campaign was suspended after a Cabinet committee promised to speed up procedures under a new set of regulations .
tea	Trade sources said the strike did not affect production or today ' s Colombo auction .
tea	INDIA RELAXES RULES FOR EXPORT PROMOTION The Reserve Bank of India , RBI , announced new rules to allow exporters of 25 products to use foreign exchange up to 10 pct of their firm ' s total annual export earnings for export promotion abroad .
tea	The move is designed by the government to improve India ' s trade deficit .
tea	Products eligible for the new Blanket Exchange Permit Scheme include tea bags , cigarettes , coffee , leather , various textiles , chemicals , pharmaceuticals , plastics , engineering and electronic goods , ready - made garments , processed food , sports goods , fabricated mica and consultancy services .
tea	The scheme replaces current rules which allow different amounts of foreign exchange to be used only when firms attain a minimum annual turnover prescribed for each product .
tea	RBI said under the new rule , 16 other products will qualify , on a discretionary basis , for overseas promotional spending of not more than two pct of the freight - on - board value of annual export earnings .
tea	These include oil cakes , cereals , raw cotton , raw and semi - processed leather , gems , castor and sandalwood oil , psyllium husks and seeds , opium and various mineral ores .
tea	RBI said exporters of products not covered by either of the two groups will be eligible to use up to five pct of their freight - on - board value of their annual export earnings .
tea	Industry sources said the new entitlements , considerably higher than the previous limits , are also more flexible because holders of new permits no longer need to frequently apply to RBI for release of foreign exchange for export purposes .
tea	STATE TO CONTROL 70 PCT OF PAKISTAN TEA IMPORTS Pakistan announced a new tea import policy , saying 70 pct of imports will in future be made through the state Trading Corporation of Pakistan ( TCP ).
tea	Commerce Minister Mahbubul Haq said in a television broadcast that no more than one - third of the remaining 30 pct allocated to the private sector would be permitted to come from any one country .
tea	The new policy was announced some three months after the government suspended import licences and ordered an inquiry into tea purchase policy .
tea	Traders said the move was designed to put pressure on Kenya , which provided some 48 pct of Pakistan ' s 75 - 80 mln kilo annual tea imports , to buy Pakistani manufactured goods in exchange .
tea	Liptons and Brooke Bond , two units of Britain ' s Unilever Plc , control 95 pct of Pakistan ' s hard - pack tea market , traders said .
tea	Haq , who is also Planning Minister , was outlining a new three - year trade policy from the start of financial 1987 / 88 on July 1 .
tea	INDIA STEPS UP COUNTERTRADE DEALS TO CUT TRADE GAP India is searching for non - communist countertrade partners to help it cut its trade deficit and conserve foreign exchange .
tea	Wheat , tobacco , tea , coffee , jute , engineering and electronic goods , as well as minerals including iron ore , are all on offer in return for crude oil , petroleum products , chemicals , steel and machinery , trade sources told Reuters .
tea	Most of the impetus behind countertrade , which began in 1984 , comes from two state trading firms -- the State Trading Corp ( STC ) and the Minerals and Metals Trading Corp ( MMTC ).
tea	" The two state trading corporations are free to use their buying power in respect to bulk commodities to promote Indian exports ," a commerce ministry spokeswoman said , adding that private firms are excluded from countertrading .
tea	One trade source said India has targetted countries that depend on an Indian domestic market recently opened to foreign imports .
tea	However , countertrade deals still make up only a small part of India ' s total trading and are likely to account for less than eight pct of the estimated 18 . 53 billion dlrs in trade during the nine months ended December , the sources said .
tea	Countertrade accounted for just five pct of India ' s 25 . 65 billion dlrs in trade during fiscal 1985 / 86 ended March , against almost nothing in 1984 / 85 , official figures show .
tea	However , the figures exclude exchanges with the Eastern Bloc paid in non - convertible Indian rupees , the sources said .
tea	Total trade with the Soviet Union , involving swaps of agricultural produce and textiles for Soviet arms and crude oil , is estimated at 3 . 04 billion dlrs in fiscal 1986 / 87 , against three billion in 1985 / 86 .
tea	Indian countertrade , which is being promoted mainly to help narrow the country ' s large trade deficit , is still insignificant compared with agreements reached by Indonesia , Venezuela and Brazil , the trade sources said .
tea	The trade deficit , which hit an estimated record 6 . 96 billion dlrs in 1985 / 86 , is expected to decline to 5 . 6 billion in the current fiscal year .
tea	But the push to include non - communist countries in countertrade is also due to other factors , including the slow growth of foreign reserves , a tight debt repayment schedule , shrinking aid and trade protectionism , businessmen said .
tea	One source said India is showing more dynamism in promoting countertrade deals than in the past , when the deals were made discreetly because they break GATT rules .
tea	As a member of the General Agreement on Tariffs and Trade ( GATT ), India cannot officially support bartering .
tea	The MMTC ' s recent countertrade deals include iron ore exports to Yugoslavia for steel structures and rails .
tea	" MMTC ' s recent global tenders now include a clause that preference will be given to parties who accept payment in kind for goods and services sold to India ," a trade official said , adding that the policy remains flexible .
tea	" We also take into account other factors such as prices at which the goods and services are offered to India ," the trade official said .
tea	Early this year the commerce ministry quietly told foreign companies interested in selling aircraft , ships , drilling rigs and railway equipment to India that they stood a better chance if they bought Indian goods or services in return , the trade sources said .
tea	Illustrating the point , the official said a South Korean firm recently agreed to sell a drilling platform worth 40 mln dlrs to the state - run Oil and Natural Gas Commission .
tea	In return , the South Koreans gave a verbal assurance to buy Indian goods worth 10 pct of the contract , against the 25 pct sought by New Delhi , the trade official said .
tea	" We selected the Korean firm because its bid was the lowest ," he added .
tea	Countertrade is helping African countries short of foreign currency to import goods .
tea	India has signed a trade protocol to buy up to 15 , 000 tonnes of asbestos fibre from Zimbabwe in exchange for Indian goods , including jute bags and cars .
tea	But despite India ' s new drive , countertrade has some inherent problems , they added .
tea	" It is not always easy to meet the basic requirement that the trade should always be balanced ," one trade source said .
tea	" The other problem is it is often difficult to supply or buy commodities which the other party wants ."
tea	Another added , " Barter is also restrictive .
tea	We look upon it as a temporary measure to get over the current balance of payments difficulty .
tea	" This is why countertrade has not been made a law in India .
tea	It does not even figure in the country ' s foreign trade policy ."
tea	INDIA STEPS UP COUNTERTRADE DEALS India is searching for non - communist countertrade partners to help it cut its trade deficit and conserve foreign exchange .
tea	Wheat , tobacco , tea , coffee , jute , engineering and electronic goods , as well as minerals including iron ore , are all on offer in return for crude oil , petroleum products , chemicals , steel and machinery , trade sources told Reuters .
tea	Most of the impetus behind countertrade , which began in 1984 , comes from two state trading firms -- the State Trading Corp ( STC ) and the Minerals and Metals Trading Corp ( MMTC ).
tea	" The two state trading corporations are free to use their buying power in respect to bulk commodities to promote Indian exports ," a commerce ministry spokeswoman said , adding that private firms are excluded from countertrading .
tea	One trade source said India has targetted countries that depend on an Indian domestic market recently opened to foreign imports .
tea	But countertrade deals still make up only a small part of India ' s total trading and are likely to account for less than eight pct of the estimated 18 . 53 billion dlrs in trade during the nine months ended December , the sources said .
tea	Countertrade accounted for just five pct of India ' s 25 . 65 billion dlrs in trade during fiscal 1985 / 86 ended March , against almost nothing in 1984 / 85 , official figures show .
tea	However , the figures exclude exchanges with the Eastern Bloc paid in non - convertible Indian rupees , the sources said .
tea	Total trade with the Soviet Union , involving swaps of agricultural produce and textiles for Soviet arms and crude oil , is estimated at 3 . 04 billion dlrs in fiscal 1986 / 87 .
tea	PAKISTANI DECISION WILL HURT KENYAN TEA EXPORTS Pakistan ' s decision to suspend tea import licences will hurt Kenyan tea exports in the short term while exporters seek new markets , sources close to Nairobi broking houses and exporters said .
tea	Broking house officials in the Sri Lankan capital Colombo yesterday told Reuters Pakistan had suspended the licences in order to link tea imports to Pakistani exports .
tea	The latest available figures show that Kenyan exports to Pakistan , mainly tea , were worth 75 mln dlrs in 1985 , while imports from Pakistan amounted to only 4 . 8 mln dlrs .
tea	Kenya provides over 50 pct of Pakistan ' s tea imports .
tea	The Nairobi sources said the Pakistani decision did not come as a surprise as Pakistan had been complaining of the trade imbalance for some time .
tea	" We are very disappointed that Pakistan took such action ... ( it ) will certainly hurt Kenya ' s tea industry in the short term as Pakistan is Kenya ' s second largest market ," a source at one broking house told Reuters .
tea	One tea broker said Pakistan ' s move had already affected Kenya ' s tea trade and was largely responsible for an average fall of two shillings a kilo at the export auction in Mombasa last Monday .
tea	" The trend is likely to continue until other countries replace Pakistan , which usually buys all qualities of our tea ," he added .
tea	Kenya has for a long time relied on Britain , Pakistan , Egypt and , to a lesser extent the United States , as major markets for its tea , the sources added .
tea	Small - scale exporters who export mainly to Pakistan would be worst hit by the Pakistani move as it would take them longer to find new outlets , they said .
tea	ABNORMAL RADIATION FOUND IN SOVIET TEA / HAZELNUTS Abnormally high levels of radiation were found in Soviet tea and hazelnuts more than nine months after the Chernobyl nuclear accident , West German residents in Moscow were advised this week .
tea	In a letter to the West German community here , Ambassador Joerg Kastl said laboratory tests on food samples bought in Moscow in February had shown elevated levels of caesium - 134 and - 137 in tea from Azerbaijan and Ukrainian hazelnuts .
tea	Other food samples sent for testing at Cologne University , including honey , fruit , vegetables , pork , milk and butter , were found to be free of radiation , it said .
tea	Data in the letter showed the tea and hazelnuts contained caesium levels far in excess of ceilings recommended by the United Nations Food and Agriculture Organisation ( FAO ).
tea	The letter said people who had consumed the tea faced no particular health danger as most of the caesium remained in the tea leaves , but it warned against eating the hazelnuts .
tea	The products sent for testing were bought in state shops and private farmers ' markets in Moscow , it added .
tea	Other Western embassies in Moscow said they had discontinued laboratory testing of Soviet food late last year because no abnormal radiation levels were detected .
tea	" We didn ' t find anything so we stopped doing it ," a U . S . Embassy spokesman said .
tea	A British spokesman said radiation - monitoring equipment remained in the embassy waiting room for British residents in Moscow who wanted to check their food , but laboratory tests had not been conducted for several months .
tea	" Earlier we sent some food back to Britain as a precautionary measure , but we stopped in the absence of any alarming signals ," he said .
tea	" If the tests had shown abnormal readings , they would have been resumed ."
tea	INDONESIAN AGRICULTURE GROWTH EXPECTED TO SLOW Indonesia " s agriculture sector will grow by just 1 . 0 pct in calendar 1987 , against an estimated 2 . 4 pct in 1986 as the production of some commodities stagnates or declines , the U . S . Embassy said in a report .
tea	Production of Indonesia " s staple food , rice , is forecast to fall to around 26 . 3 mln tonnes from an embassy estimate of 26 . 58 mln tonnes in 1986 , according to the annual report on Indonesia " s agricultural performance .
tea	The government officially estimates 1986 rice production at 26 . 7 mln tonnes , with a forecast 27 . 3 mln tonnes output in 1987 .
tea	The report says wheat imports are likely to fall to 1 . 5 mln tonnes in calendar 1987 from 1 . 69 mln tonnes in 1986 because of a drawdown on stocks .
tea	" Growth prospects for agriculture in 1987 do not look promising as rice production is forecast to decline and the production of sugarcane , rubber and copra show little or no gain ," the report says .
tea	" The modest overall increase which is expected will be due to significant gains in production of corn soybeans , palm oil and palm kernels ."
tea	Constraints to significant overall increases in agricultural output include a shortage of disease resistant seeds , limited fertile land , insect pests and a reluctance by farmers to shift from rice production to other crops , the report underlines .
tea	The fall in rice production is caused by an outbreak of pests known as " wereng " or brown plant hoppers in 1986 which largely offset gains in yields .
tea	The outbreak has forced the government to ban the use of 57 insecticides on rice because it was believed the wereng are now resistant to these varieties , and to use lower - yielding , more resistant rice types .
tea	The government is depending on increased production of export commodities such as coffee , tea , rubber , plywood and palm oil to offset revenue losses brought on by falling crude oil prices .
tea	Palm oil production is expected to increase by over 7 . 0 pct in 1987 to 1 . 45 mln tonnes from 1 . 35 mln , with exports rising to an estimated 720 , 000 tonnes from 695 , 000 tonnes in 1986 , the report says .
tea	But while production of soybeans in 1987 / 88 ( Oct - Sept ) will rise to 1 . 075 mln tonnes from 980 , 000 in 1986 / 87 , imports will also rise to supply a new soybean crushing plant .
tea	The report says that imports of wheat , soybeans , soybean meal and cotton are not likely to decline as a result of last September " s 31 pct devaluation of the rupiah because of a rise in domestic demand .
tea	The report said that Indonesia " s overall economic performance in calendar 1986 was about zero or even a slight negative growth rate , the lowest rate of growth since the mid - 1960s .
tea	It compares with 1 . 9 pct growth in 1985 and 6 . 7 pct in 1984 .
tea	The dramatic fall in oil prices last year was responsible for the slump .
tea	INDONESIAN TEA , COCOA EXPORTS SEEN UP , COFFEE DOWN Indonesia ' s exports of tea and cocoa will continue to rise in calendar 1987 but coffee exports are forecast to dip slightly in 1987 / 88 ( April - March ) as the government tries to improve quality , the U . S . Embassy said .
tea	The embassy ' s annual report on Indonesian agriculture forecast coffee output in 1986 / 87 would be 5 . 77 mln bags of 60 kilograms each .
tea	That is slightly less than the 5 . 8 mln bags produced in 1985 / 86 .
tea	In 1987 / 88 coffee production is forecast to rise again to 5 . 8 mln bags , but exports to dip to 4 . 8 mln from around 5 . 0 mln in 1986 / 87 .
tea	Exports in 1985 / 86 were 4 . 67 mln bags .
tea	The embassy report says coffee stocks will rise to 1 . 3 mln tonnes in 1987 / 88 from 1 . 15 mln in 1986 / 87 .
tea	It bases this on a fall in exports as a result of the " probable " re - introduction of quotas by the International Coffee Organisation .
tea	Cocoa production and exports are forecast to rise steadily as the government develops cocoa plantations .
tea	Production of cocoa in Indonesia increased to 32 , 378 tonnes in calendar 1985 from 10 , 284 tonnes in 1980 .
tea	It is projected by the government to rise to more than 50 , 000 tonnes by 1988 .
tea	Production in 1986 is estimated by the embassy at 35 , 000 tonnes , as against 38 , 000 tonnes in 1987 .
tea	The report forecasts cocoa exports to rise to 35 , 000 tonnes this year , from 33 , 000 tonnes in 1986 and 31 , 000 in 1985 .
tea	The Netherlands is at present the biggest importer of Indonesian cocoa beans .
tea	The report forecasts that in calendar 1987 , Indonesia ' s CTC ( crushed , torn and curled ) tea exports will increase significantly with the coming on stream of at least eight new CTC processing plants .
tea	Indonesia plans to diversify its tea products by producing more CTC tea , the main component of tea bags .
tea	Production of black and green teas is forecast in the embassy report to rise to 125 , 000 tonnes in calendar 1987 from 123 , 000 tonnes in 1986 .
tea	Exports of these teas are likely to rise to 95 , 000 tonnes in 1987 from 85 , 000 in 1986 and around 90 , 000 in 1985 .
tea	The embassy noted the ministry of trade tightened quality controls on tea in October 1986 in an effort to become more competititve in the world market .
tea	ECONOMIC SPOTLIGHT - ASIAN DROUGHTS Three geographically diverse droughts in Asia are being linked by some scientists to a reintensification of the complex and little - understood El Nino weather pattern , & lt ; Accu - Weather Inc >, a commercial weather forecasting service , said .
tea	Rice and wheat farmers in China , wheat and sugarcane growers in Australia and tea planters in Sri Lanka all face serious losses to their respective harvests unless rains arrive in time to break the droughts , offical reports , government officials and meteorologists said .
tea	Wen Wei Po , a Hong Kong daily with close Peking links , said the drought is the worst in over 20 years and some provinces have been without adequate rainfall for more than seven months .
tea	Rice planting is threatened in eight provinces , it added .
tea	Rainfall in the key farming provinces of Henan and Sichuan was 70 pct below average during February , the lowest figure for over 20 years , the paper said .
tea	The dry weather has cut stored water volumes by over 20 pct compared with last March and lowered the water levels of many rivers , it added .
tea	This has resulted in reduced hydro - electric power , causing shortages to industry and households .
tea	The upper reaches of the Yangtze are at their lowest levels in a century , causing many ships to run aground , Wen Wei Po said .
tea	Unusually high temperatures have also been reported across China , media reports said .
tea	The People ' s Daily said Sichuan has recorded temperatures three degrees Celsius higher than average since early February .
tea	The New China News Agency said the average December temperature in Harbin in the northeast was six degrees higher than last December and 14 degrees higher than December 1984 .
tea	Severe drought is affecting about one - third of Sri Lanka and threatens to reduce the country ' s tea crop , Ministry of Plantation Industries officials told Reuters In Australia , concern is growing about below - average rainfall levels in parts of the sugarcane belt along the Queensland coast and in Western Australia ' s wheat belt , local Meteorological Bureau officials said .
tea	For many farmers and government officials the fear is that while the present low rainfall does not yet pose a major threat , the prospect of a dry autumn / winter season when the wheat crop is in its early stages certainly does , they added .
tea	Concern is heightened by the memory of the 1982 / 83 drought which devastated the wheat crop and coincided with the occurrence of the barely understood weather phenomenon known as El Nino , they said .
tea	Although meteorologists are cautious about linking the Asia - Pacific region ' s disrupted weather patterns to any single cause , El Nino ' s role is being closely studied , they said .
tea	Accu - Weather Inc , which specialises in providing data for agriculture and shipping interests , said each El Nino ' event ' was unique .
tea	The El Nino does not always produce the same effects and the present occurrence is much less pronounced than the last major event in 1982 / 83 , it said .
tea	El Nino , Spanish for " Christ Child " because it appears around Christmas , is formed by the action of warm air , bearing clouds and rain , shifting from the Indonesian archipelago to the coast of Peru , where it mingles with the cold waters associated with the Peru current and returns across the Pacific as the trade winds , meteorologists said .
tea	The winds , strengthened by El Nino ' s " pump " effect , raise the sea level off Australia and Indonesia , they said .
tea	When the winds drop , the ocean , seeking equilibrium , sends a surge of warmer water back across the Pacific where it collides with the cold seas off Peru , they said .
tea	One effect of this heat exchange is to deflect the rain - bearing clouds away from Australia and Indonesia into the Pacific , where they further disrupt other weather patterns .
tea	The prospects for an end to the droughts vary , Accu - Weather said .
tea	China , where the affected areas have received between 40 and 75 pct of normal rainfall , will have to wait for the May - September rains , it said .
tea	The May - September rains normally provide the drought - striken areas with 80 pct of annual rainfall .
tea	In Australia , areas of Queensland ' s coastal strip have received less than half the normal rainfall during the current wet season , but prospects for increased rains are diminishing as the rainy season draws to an end .
tea	In Sri Lanka , the drought has come when rainfall should be at its maximum for the year .
tea	The year ' s secondary rains usually occur between April and June , although it is not possible at this stage to forecast whether they will arrive as usual .
tea	VIETNAM TO RESETTLE 300 , 000 ON STATE FARMS IN 1987 Vietnam will resettle 300 , 000 people on state farms known as new economic zones in 1987 , to create jobs and grow more high - value export crops , the communist party newspaper Nhan Dan said .
tea	Yesterday ' s edition , received here today , said Vietnam would invest one billion dong , including the costs of relocation , in 272 new economic zones .
tea	About one third of that sum would be spent on export crops such as coffee , tea , rubber and pepper in the Central Highlands , it said .
tea	Since 1975 , Vietnam has resettled about three million people from cities and crowded river deltas to the zones .
tea	SOVIET PAPER DETAILS GEORGIAN FLOOD DAMAGE Floods and avalanches killed 110 people and caused around 350 mln roubles worth of damage in the southern Soviet republic of Georgia earlier this year , the government daily Izvestia said .
tea	Some 80 , 000 hectares of agricultural land and gardens had been inundated , damaging tea plantations and orange groves , the newspaper said .
tea	It added that spring sowing in southern parts of the country was some two weeks behind schedule because of the late thaw but gave no precise crop estimates .
tea	In the most detailed report to date on the heavy snows in January and floods in February , Izvestia said 8 , 200 people had been evacuated from mountain areas , 4 , 500 houses had been damaged and hundreds of kilometres of roads and power lines had been destroyed .
tea	A separate article in the daily warned that a sudden thaw was expected shortly in the Ukraine and southern parts of Russia , which experienced record snows this winter .
tea	Preventive measures have already been taken in some areas including the evacuation of cattle .
strategic-metal	JOHNSON MATTHEY ' S PLATINUM GROUP PRICES Johnson Matthey today issued the following Platinum group base prices ( unfabricated ), all U . S . Dlrs per troy ounce .
strategic-metal	Previous prices in parentheses .
strategic-metal	PLATINUM - 562 ( 567 ) PALLADIUM - 130 ( 130 ) IRIDIUM - 400 ( 400 ) RHODIUM 1 , 230 ( 1 , 230 ) RUTHENIUM - 80 ( 80 )
strategic-metal	HOUSE PANEL WANTS PENTAGON MANAGE U . S .
strategic-metal	STOCKPILE The House Armed Services Committee has voted for a transfer in the management of stockpiled materials for national defense to the U . S . Defense Secretary .
strategic-metal	The committee also voted for legally - binding quantity and quality requirements on the materials , mostly metals .
strategic-metal	The measures are a part of the Defense Authorization Bill which will be voted on in the House next month .
strategic-metal	The purpose of the measures , passed by the committee yesterday , is to improve stockpile management and discourage sell - offs of materials that could jeopardize strategic needs , a staff member of the committee told Reuters .
strategic-metal	" They ( the stockpiles ) stand to gain the most by being managed properly ," said the staffer .
strategic-metal	" Management of the stockpile over the last 10 years has been atrocious ."
strategic-metal	Responsibility for stockpile management now belongs to a White House agency , the Federal Emergency Management Agency .
strategic-metal	The staffer said under the measures passed by the committee the Secretary of Defense would have more influence over decisions to keep or sell strategic stockpile materials .
strategic-metal	The administration has proposed a goal of 700 million dlrs worth of strategic materials to be held in the stockpile .
strategic-metal	The stockpile now contains around 10 billion dlrs of materials .
strategic-metal	He said several agencies currently helped FEMA to manage the stockpile and decide how much to sell to help the deficit .
strategic-metal	These agencies included the Office of Management and Budget and the Departments of Interior and Commerce , he said .
strategic-metal	The committee believed the shared involvement in stockpile management was counter - productive , he said .
strategic-metal	HOUSE PANEL WANTS PENTAGON MANAGE U . S .
strategic-metal	STOCKPILE The House Armed Services Committee has voted for a transfer in the management of stockpiled materials for national defense to the U . S . Defense Secretary .
strategic-metal	The committee also voted for legally - binding quantity and quality requirements on the materials , mostly metals .
strategic-metal	The measures are a part of the Defense Authorization Bill which will be voted on in the House next month .
strategic-metal	The purpose of the measures , passed by the committee yesterday , is to improve stockpile management and discourage sell - offs of materials that could jeopardize strategic needs , a staff member of the committee told Reuters .
strategic-metal	" They ( the stockpiles ) stand to gain the most by being managed properly ," said the staffer .
strategic-metal	" Management of the stockpile over the last 10 years has been atrocious ."
strategic-metal	Responsibility for stockpile management now belongs to a White House agency , the Federal Emergency Management Agency .
strategic-metal	The staffer said that under the measures passed by the committee the Secretary of Defense would have more influence over decisions to keep or sell strategic stockpile materials .
strategic-metal	The administration has proposed a goal of 700 million dlrs worth of strategic materials to be held in the stockpile .
strategic-metal	The stockpile now contains around 10 billion dlrs of materials .
strategic-metal	He said several agencies currently helped FEMA to manage the stockpile and decide how much to sell to help the deficit .
strategic-metal	These agencies included the Office of Management and Budget and the Departments of Interior and Commerce , he said .
strategic-metal	The committee believed the shared involvement in stockpile management was counter - productive , he said .
strategic-metal	COMINCO LEAD / ZINC UNION REJECTS CONTRACT Three United Steelworkers of America locals on strike at Cominco Ltd rejected a tentative three - year contract , a union representative said .
strategic-metal	" The vote was 1 , 229 , or 54 . 5 pct , against , and 1 , 028 , or 45 . 5 pct , for the contract .
strategic-metal	Eighty - one pct of the membership voted ," he said .
strategic-metal	The union representative said that the pact offered cost of living increases designed to keep pace with inflation , but contained no wage increase .
strategic-metal	The locals ' bargaining committees are expected to meet and prepare for the reopening of negotiations with Cominco , he said .
strategic-metal	The three locals cover about 2 , 600 production and maintenance workers at Cominco ' s Trail smelter and Kimberley , B . C .
strategic-metal	lead - zinc mine .
strategic-metal	Output at both sites has been shut down since the production and maintenance workers , along with about 600 office and technical workers , went on strike May 9 .
strategic-metal	The two Steelworkers locals representing the office and technical workers have not negotiated since May 21 .
strategic-metal	The strike caused Cominco to declare force majeure , which means the company may not be able to honor contracts for products from the smelter and mine .
strategic-metal	Each of the five locals have separate contracts , all of which expired April 30 , but the main issues are similar .
strategic-metal	The union had requested a three pct wage increase in each year of a two - year contract .
strategic-metal	Cominco had pressed for a three - year contract and some loosening of the rules on job classifications .
strategic-metal	The Trail smelter , about 400 miles east of Vancouver , produced 240 , 000 long tons of zinc and 110 , 000 long tons of lead last year .
strategic-metal	The Sullivan mine at Kimberley , about 450 miles east of Vancouver , produced 2 . 2 mln long tons of ore last year , most for processing at the Trail smelter .
strategic-metal	The smelter also produced cadmium , bismuth and indium .
strategic-metal	Revenues from the Trail smelter totalled 356 mln Canadian dlrs in 1986 .
strategic-metal	COMINCO & lt ; CLT . TO > UNION REJECTS CONTRACT Three United Steelworkers of America locals on strike at Cominco Ltd rejected a tentative three - year contract , a union representative said .
strategic-metal	" The vote was 1 , 229 , or 54 . 5 pct , against , and 1 , 028 , or 45 . 5 pct , for the contract .
strategic-metal	Eighty - one pct of the membership voted ," he said .
strategic-metal	The union representative said that the pact offered cost of living increases designed to keep pace with inflation , but contained no wage increase .
strategic-metal	The locals ' bargaining committees are expected to meet and prepare for the reopening of negotiations with Cominco , he said .
strategic-metal	The three locals cover about 2 , 600 production and maintenance workers at Cominco ' s Trail smelter and Kimberley , B . C .
strategic-metal	lead - zinc mine .
strategic-metal	Output at both sites has been shut down since the production and maintenance workers , along with about 600 office and technical workers , went on strike May nine .
strategic-metal	The two Steelworkers locals representing the office and technical workers have not negotiated since May 21 .
strategic-metal	The strike caused Cominco to declare force majeire , which means the company may not be able to honor contracts for products from the smelter and mine .
strategic-metal	Each of the five locals have separate contracts , all of which expired April 30 , but the main issues are similar .
strategic-metal	The union had requested a three pct wage increase in each year of a two - year contract .
strategic-metal	Cominco had pressed for a three - year contract and some loosening of the rules on job classifications .
strategic-metal	The Trail smelter , about 400 miles east of Vancouver , produced 240 , 000 long tons of zinc and 110 , 000 long tons of lead last year .
strategic-metal	The Sullivan mine at Kimberley , about 450 miles east of Vancouver , produced 2 . 2 mln long tons of ore last year , most for processing at the Trail smelter .
strategic-metal	The smelter also produced cadmium , bismuth and indium .
strategic-metal	Revenues from the Trail smelter totalled 356 mln Canadian dlrs in 1986 .
strategic-metal	COMINCO & lt ; CLT . TO > SEES MEETING WITH STRIKING UNION LOCALS Cominco Ltd said it expects to meet today with two of five United Steelworkers of America locals on strike at its Trail smelter and Kimberley , B . C .
strategic-metal	lead - zinc mine , a Cominco spokesman said .
strategic-metal	It had no meeting scheduled with the other three striking locals , which rejected a tentative three - year contract Saturday , Cominco spokesman Richard Fish said .
strategic-metal	Fish said the pact that was rejected contained a cost of living increase tied to the Canadian consumer price index , but no wage increase .
strategic-metal	With 81 pct of the membership voting , 54 . 5 pct voted no and 45 . 5 pct voted yes , the union said .
strategic-metal	The three locals represent about 2 , 600 production and maintenance workers , while the remaining two locals cover about 600 office and technical workers .
strategic-metal	The office and technical workers last negotiated May 21 .
strategic-metal	Production at Trail and Kimberley has been shut down since the strike began May 9 and Cominco has had to declare force majeure , which means the company may be unable to honor contracts for products from the smelter and mine .
strategic-metal	Each of the five locals have separate contracts , all of which expired April 30 , but the main issues are similar .
strategic-metal	The Trail smelter , about 400 miles east of Vancouver , produced 240 , 000 long tons of zinc and 110 , 000 long tons of lead last year .
strategic-metal	The Sullivan mine at Kimberley , about 450 miles east of Vancouver , produced 2 . 2 mln long tons of ore last year , most for processing at the Trail smelter .
strategic-metal	The smelter also produced cadmium , bismuth and indium .
strategic-metal	Trail smelter revenue was 356 mln Canadian dlrs in 1986 .
strategic-metal	COMINCO SEEKS MEETING WITH STRIKING UNION LOCALS Cominco Ltd said it expects to meet today with two of five United Steelworkers of America locals on strike at its Trail smelter and Kimberley , B . C .
strategic-metal	lead - zinc mine , a Cominco spokesman said .
strategic-metal	It had no meeting scheduled with the other three striking locals , which rejected a tentative three - year contract Saturday , Cominco spokesman Richard Fish said .
strategic-metal	Fish said the pact that was rejected contained a cost of living increase tied to the Canadian consumer price index , but no wage increase .
strategic-metal	With 81 pct of the membership voting , 54 . 5 pct voted no and 45 . 5 pct voted yes , the union said .
strategic-metal	The three locals represent about 2 , 600 production and maintenance workers , while the remaining two locals cover about 600 office and technical workers .
strategic-metal	The office and technical workers last negotiated May 21 .
strategic-metal	Production at Trail and Kimberley has been shut down since the strike began May 9 and Cominco has had to declare force majeure , which means the company may be unable to honor contracts for products from the smelter and mine .
strategic-metal	Each of the five locals have separate contracts , all of which expired April 30 , but the main issues are similar .
strategic-metal	The Trail smelter , about 400 miles east of Vancouver , produced 240 , 000 long tons of zinc and 110 , 000 long tons of lead last year .
strategic-metal	The Sullivan mine at Kimberley , about 450 miles east of Vancouver , produced 2 . 2 mln long tons of ore last year , most for processing at the Trail smelter .
strategic-metal	The smelter also produced cadmium , bismuth and indium .
strategic-metal	Trail smelter revenue was 356 mln Canadian dlrs in 1986 .
strategic-metal	STRONG DEMAND FOR PERU BISMUTH IN JAN / MAY Very strong demand from all markets including , recently , Japan has resulted in Peru ' s bismuth exports showing an impressive increase in January / May 1987 , Peru ' s state owned mining industry ' s marketing arm Minpeco S . A . Said .
strategic-metal	In a statement released by its London office , Minpeco said Peruvian customs figures for bismuth exports for the first five months were 574 . 8 tonnes compared with 160 . 7 tonnes in the same period of 1986 and 483 . 4 tonnes during the whole of 1986 , Minpeco said .
strategic-metal	A breakdown of the figures showed Peru exported 296 . 4 tonnes of bismuth to the U . S . During Jan / May 1987 compared with 127 . 0 during the whole of 1986 .
strategic-metal	Other recipients were Peoples Republic of China 110 . 4 ( 100 . 0 ), Holland 100 . 2 ( 150 . 0 ), USSR 50 . 0 ( 50 . 0 ) and other areas 17 . 8 tonnes ( 56 . 4 ).
strategic-metal	Sales to the U . K ., West Germany , France and other Western and Eastern European countries are hidden under the heading Holland as Minpeco sells to customers in these countries from stocks the company normally holds in Rotterdam , the statement said .
strategic-metal	CHINA MOVES TO STABILISE WORLD TUNGSTEN PRICES China is moving to stabilise world prices of tungsten after fluctuating prices this year affected the country ' s export earnings , the China Daily said .
strategic-metal	The paper quoted industry officials as saying they would fix export prices on the basis of the world market , stop smuggling and encourage producers to reduce exports .
strategic-metal	Current world prices range from 49 to 55 dlrs per tonne unit , but China suffered heavy losses when the price slumped to 39 dlrs earlier this year , it said .
strategic-metal	Some 45 pct of world tungsten exports come from China , but the country imports high - grade tungsten products .
strategic-metal	PINNACLE WEST CAPITAL & lt ; PNW > BUYS MINERAL RIGHTS Pinnacle West Capital Corp said its Malapai Resources Co units bought the mineral rights for uranium mining on about 21 , 000 acres in northern Wyoming from Westinghouns Electric Corp & lt ; WX >.
strategic-metal	The property is adjacent to a 34 , 000 - acre site the company already owns .
strategic-metal	Both facilities are at expected to be in full operation in the early 1990s , with annual production of one to two mln lbs of uranium concentrates , the company said .
strategic-metal	The new site is expected to produce about 250 , 000 lbs of uranium in its first full year of production in 1988 .
strategic-metal	The adjacent property is expected to begin in 1989 .
strategic-metal	TRW INC & lt ; TRW > SETS PACT WITH TEKTRONIX & lt ; TEK > TRW Inc ' s TRW Componenets International Inc unit said it set a pact with Tektronix Inc ' s TriQuint Semiconductor unit to jointly supply gallium arsenide devices for space applications .
strategic-metal	As part of the agreement , the two companyies are working together to establish procedures to produce class " S " ( a stringent military specification for space use ) gallium arsenide components .
strategic-metal	TriQuint makes gallilum arsenide integrated circuits .
strategic-metal	CALIFORNIA MICRO & lt ; CAMD >, GRUMMAN & lt ; GQ > SET PACT California Micro Devices Corp said it has signed an agreement with Grumman Corp ' s Tachonics Corp unit to develop and product gallium arsenide seminconductor chips .
strategic-metal	Under the pact , California Micro Devices will design the chips and Tachonics will manufacture them .
strategic-metal	Initial products to be developed will be gate arrays with 500 to 2 , 500 gate complexity and radiation hardening capabilities , the company said .
strategic-metal	MOUNTAIN STATES & lt ; MTSR > ADDES TWO PROPERTIES Mountain States Resources Corp said it acquired two properties to its strategic minerals holdings .
strategic-metal	The acquisitions bring to its land position a total of 5 , 100 acres of titanium , zirconium and rare earth resources , the company said .
strategic-metal	Both properties , located in southern Utah , consist of approximately 1 , 430 acres of unpatented mining claims and one state lease , it said .
strategic-metal	The company also announced the formation of Rare Tech Minerals Inc , a wholly - owned subsidiary .
strategic-metal	MOUNTAIN STATES ADDS TWO MINERALS PROPERTIES Mountain States Resources Corp said it acquired two properties to add to its strategic minerals holdings .
strategic-metal	The acquisitions include a total of 5 , 100 acres of titanium , zirconium and rare earth resources , the company said .
strategic-metal	Both properties , located in southern Utah , consist of approximately 1 , 430 acres of unpatented mining claims and one state lease , it said .
strategic-metal	The company also announced the formation of Rare Tech Minerals Inc , a wholly - owned subsidiary .
strategic-metal	MINAS DE ALMADEN RAISES MERCURY PRICE Spain ' s Minas de Almaden y Arrayanes S . A . has agreed with Algerian producer ENOF to establish a minimum price of 300 dlrs per flask for spot mercury sales , Almaden spokesman Jesus Gallego said .
strategic-metal	In response to enquiries from Reuters , he said his company had raised the minimum price for its spot sales from 240 dlrs per flask following talks with ENOF .
strategic-metal	In a separate press release , the company said that ENOF and Almaden held talks in Istanbul a week ago with Turkish mercury producers on ways to improve prices , but Gallego said he was not in a position to say what action the Turkish companies would be taking .
strategic-metal	ALGERIAN , SPANISH FIRMS AGREE QUICKSILVER PRICE Algerian and Spanish producers which together meet 40 pct of the Western market ' s needs in quicksilver have agreed to apply a minimum selling price of 300 dlrs per unit , the Algerian news agency APS said .
strategic-metal	The agreement was made during a meeting here last week between Algeria ' s Entreprise Nationale des Non - ferreux et Substances Utiles ( ENOF ) and Spain ' s Almaden to discuss the market situation .
strategic-metal	The two firms " took note with regret that prices quoted by some specialised publications do not reflect the reality of the whole market since they take into account only part of the deals made ," a statement by ENOF said .
strategic-metal	The result is that the prices quoted are far away from two firms ' production costs .
strategic-metal	" They have thus decided that their selling price would not be linked any more to the prices quoted by these publications and that sales would be made at a minimum price of 300 dlrs fob per jar , which is close to their production cost ," the statement said .
strategic-metal	It added that Turkish producers would join in when the two firms meet again in Madrid later this month .
strategic-metal	The price of quicksilver on the London Metal Exchange hovered around 200 dlrs this week .
strategic-metal	DOE RECOMMENDS SPECIAL UNIT TO ENRICH URANIUM Energy Secretary John Herrington told Congress that a federally chartered corporation would be the best way to manage and operate the government ' s uranium enrichment program .
strategic-metal	He said in a letter to Congressmen that unless the program , now run by the Energy Department , is improved , sales worth five billion dlrs could be lost between 1990 and 2000 .
strategic-metal	The program now has annual commercial sales of about one billion dlrs and holds 50 pct of the free world market for enrichment services .
strategic-metal	A department official said the world market for enriched uranium for reactors for power utilities is increasingly competitive and private entity could better tap it .
strategic-metal	The Administration ' s plan to spin off the department ' s uranium enrichment operation is in line with it effort to reduce the federal government ' s role in areas where it feels private enterprise could be more efficient .
strategic-metal	ZAMBIAN LATE 1986 COPPER OUTPUT UP , SALES DOWN Zambian copper production rose 3 . 2 pct to 113 , 275 tonnes in fourth quarter 1986 from 109 , 767 in the same 1985 period but sales fell 18 . 7 pct to 119 , 967 tonnes from 147 , 537 , Zambia Consolidated Copper Mines , ZCCM , said .
strategic-metal	A spokesman for the government - controlled mining company said the country ' s cobalt production fell 24 pct to 879 tonnes over the same period , while cobalt sales rose 92 pct to 1 , 734 tonnes .
strategic-metal	He did not give figures for the fourth quarter of 1985 .
strategic-metal	Lead production fell 22 . 9 pct to 1 , 670 tonnes from 2 , 165 and zinc production dropped 14 pct to 4 , 830 tonnes , he added .
strategic-metal	ZCCM , which monopolises copper mining in Zambia and accounts for about 90 pct of the country ' s foreign exchange earnings , made a net loss of 718 mln kwacha in 1986 compared with a net profit of 19 mln kwacha the previous year .
strategic-metal	The 1986 losses were after taking into account net interest payments of 426 mln kwacha , an exchange loss of 412 mln kwacha and taxes of 235 mln kwacha .
strategic-metal	U . S . TREASURY PROPOSES SOME S . AFRICAN IMPORTS The Treasury proposed allowing temporary imports of South African uranium ore and uranium oxide until July 1 under certain conditions pending clarification of anti - apartheid laws passed by Congress last fall .
strategic-metal	The proposal to be published in the Federal Register next week requests written congressional and public comment within 60 days and deals with uranium ore and oxide that is imported for U . S . processing and exporting to third countries .
strategic-metal	The Treasury said it proposed allowing the temporary imports because it felt Congress had not intended when it passed the comprehensive South African sanctions bill last fall -- overriding President Reagan ' s veto -- to hurt U . S . industry .
strategic-metal	" The domestic uranium conversion industry and the federal government ' s enrichment industry could be seriously injured in a manner not intended by Congress if the .
strategic-metal	.
strategic-metal	.
strategic-metal	import ban on uranium ore and oxide were implemented to bar imports for processing and export through a mistaken interpretation of the act ," the Treasury brief said .
strategic-metal	The Treasury said an outright U . S . ban of uranium ore and oxide might cause foreign electric utilities to divert their South African origin ore and oxide to other countries including the Soviet Union for processing .
strategic-metal	Treasury said it would allow imports of the South African ore and oxide until July 1 for processing and re - export " provided that the imported ore or oxide is accompanies by a license for importation issued by the Nuclear Regulatory Commission ."
strategic-metal	The Treasury brief also proposed allowing U . S .- origin goods to be imported temporarily from South African state - controlled organizations for repair or servicing in the United States .
strategic-metal	" The U . S . Customs will allow such importation to be made under bond ," the brief said .
strategic-metal	The South African sanctions law , enacted by the United States to protest the apartheid laws of racial segregation practiced by South Africa ' s white minority government , prohibited imports of uranium ore and oxide , iron and steel , coal and textiles at the end of 1986 .
strategic-metal	U . S . TREASURY PROPOSES S . AFRICAN URANIUM IMPORTS The U . S . Treasury proposed allowing temporary imports of South African uranium ore and uranium oxide until July 1 under certain conditions pending clarification of anti - apartheid laws passed by Congress last fall .
strategic-metal	The Treasury said it proposed allowing the temporary imports because it felt Congress had not intended when it passed the comprehensive South African sanctions bill last fall -- overriding President Reagan ' s veto -- to hurt U . S . industry .
strategic-metal	The Treasury said an outright U . S . ban of uranium ore and oxide might cause foreign electric utilities to divert their South African origin ore and oxide to other countries including the Soviet Union for processing .
strategic-metal	The Treasury also proposed allowing U . S .- origin goods to be imported temporarily from South African state - controlled organizations for repair or servicing in the U . S .
strategic-metal	The South African sanctions law , enacted by the U . S . to protest the apartheid laws of racial segregation practiced by South Africa ' s white minority government , prohibited imports of uranium ore and oxide , iron and steel , coal and textiles at the end of 1986 .
strategic-metal	U . S . TO ALLOW TEMPORARY IMPORTS OF S . A .
strategic-metal	URANIUM The Treasury Department said it would temporarily permit imports of South African uranium ore and oxide pending clarification of anti - apartheid sanctions laws passed by Congress last fall .
strategic-metal	The decision was announced late Friday .
strategic-metal	It applies , until July 1 , to uranium ore and oxide imported into the U . S . for processing and re - export to third countries .
strategic-metal	The Treasury said it took the action because it felt that when Congress passed the comprehensive South African sanctions bill last fall over President Reagan ' s veto it had not intended to hurt U . S . industry .
strategic-metal	In addition , the Treasury said it would permit U . S .- made goods to be imported temporarily from South African state - controlled organizations for repair or servicing .
strategic-metal	BLACK MINERS SUPPORT S . AFRICAN MINES TAKEOVER Thousands of black mineworkers roared support for a union proposal to seize control of South Africa ' s gold , uranium , platinum and coal mines if the owners refuse to improve conditions for migrant black workers .
strategic-metal	About 15 , 000 miners attended a rally here to endorse moves proposed by last week ' s annual meeting of the 200 , 000 strong National Union of Mineworkers ( NUM ).
strategic-metal	They also supported a proposal for a national strike at the end of this month if the owners refused to begin negotiations .
strategic-metal	Migrant workers from surrounding countries make up more than half of the labour force in the mines .
strategic-metal	It was not stated how the union would " seize control ."
strategic-metal	The miners ' leaders also demanded an end to the system of single sex hostels for migrant workers , to be replaced by housing schemes so that workers could live with their families .
strategic-metal	The crowd , one of the largest to attend a meeting since South Africa declared a state of emergency last June , also shouted approval of a proposal to work closely with anti - apartheid movements such as the United Democratic Front ( UDF ) which claims two mln members .
strategic-metal	They also shouted their support for a demand that jailed black nationalist leader Nelson Mandela be released .
strategic-metal	EC OPENS ANTI - DUMPING ENQUIRY INTO SOVIET MERCURY The European Community Commission said it has opened an enquiry into allegations that the Soviet Union is dumping mercury on the European market at below - cost prices .
strategic-metal	The Commission said its decision follows a complaint from EC non - ferrous metals producers that the sales of Soviet mercury were harming their business and threatening jobs in the European industry .
strategic-metal	According to the complaint , Soviet mercury sales in the EC had risen from zero in recent years to 100 tonnes between August and October last year and threaten to capture 25 pct of the EC market if they continue at the same pace .
strategic-metal	The industry said the mercury was being sold at more than 40 pct below prices charged by EC producers , forcing them to cut their prices to levels that no longer covered costs .
strategic-metal	The imports had caused producers heavy financial losses , it said .
strategic-metal	The Commission said the industry would probably be unable to hold prices at current levels and that any increase would result in loss of sales and jobs .
strategic-metal	The so - called anti - dumping procedure opened by the Commission will allow all interested parties to state their cases to the authority .
strategic-metal	JAPAN AND THAILAND TO JOINTLY EXTRACT RARE METALS Japan ' s Agency of Natural Resources and Energy said it will begin experiments with Thailand at the end of March to start commercial production of rare metals in 1989 under a joint project .
strategic-metal	An agency official said it will set up a 500 mln yen pilot plant in Bangkok which will extract high quality rare metals such as titanium and niobium from sand left over from tin production processes in Thailand .
strategic-metal	The plant wilq use about a tonne of sand per day , although it is unclear how much rare metal will be extracted , the official said .
strategic-metal	HIGHVELD ( HGVJ . J ) SEES LOWER 1987 EARNINGS Highveld Steel and Vanadium Corp Ltd said it expects 1987 earnings will be lower than last year ' s previously reported 85 cts a share .
strategic-metal	But profits " will be at a satisfactory level ," the company said in the annual report without giving a specific estimate .
strategic-metal	Highveld said it expects appreciation of the rand will be offset to some extent by increasing U . S . Dollar prices for its exports as the year progresses .
strategic-metal	Highveld said measures taken last year by the European Economic Community and the United States prohibiting all South African steel products " presents a challenge to management to place the steel in other areas ."
strategic-metal	The company said overall world vanadium consumption in 1987 is expected to be similar to last year although China ' s role is still an unknown factor in the total supply - demand situation .
strategic-metal	" World vanadium production capacity is still believed to be adequate to cater for any foreseeable demand ," it added .
strategic-metal	PENN CENTRAL & lt ; PC > SELLS U . K . UNIT SAFT , a unit of Cie Generale d ' Electricite of France , said it bought U . K .- based Alcad Ltd from Penn Central Corp ' s Marathon Manufacturing Cos Inc .
strategic-metal	Terms of the deal were not disclosed .
strategic-metal	Alcad is one of the world ' s largest producers of pocket - plate nickel - cadmium storeage batteries , used in industrial and railroad applications to start engines and as light sources , SAFT said .
strategic-metal	SAFT said it expects to add 400 jobs at the U . K . operations .
strategic-metal	HOUSTON METALS ' MINE YIELDS POSITIVE RESULTS & lt ; Houston Metals Corp > said the the first phase of the underground rehabilitation , extensive drilling and bulk sampling program at its Silver Queen Mine has yielded positive results .
strategic-metal	Houston said representative assays from the 2 , 750 ft and 2 , 600 ft levels at the south end of the mine established ore deposits in the following ranges : copper , 3 . 7 pct to 5 . 08 pct , lead . 99 pct to 1 . 5 pct , zinc six pct to 9 . 6 pct , silver 15 . 63 pct to 79 . 92 oz per ton , gold . 062 to . 19 oz per ton , germanium 93 to 103 grams per ton , gallium five to 18 grams per ton .
strategic-metal	In addition , Houston Metals said the weighted average of 25 diamond - drilled holes 375 ft below the 2 , 600 foot level and 800 ft along the strike assayed gold at . 237 oz per ton , silver at 10 . 91 oz per ton and zinc at 8 . 99 pct .
strategic-metal	An apparent parallel vein structure at the 2 , 600 ft level returned similar values , the company said .
strategic-metal	It added that preliminary metallurgical tests from representative bulk ore samples indicate the commercial feasability of producing a zinc and a copper - lead concentrate .
strategic-metal	Houston Metals said gold , silver and the base metals have recoveries of 90 pct to 95 pct , with 95 pct of gold recovered from better gold ores , while gallium , germanium and indium have recoveries of between 66 pct to 82 pct and are included in the zinc concentrate .
strategic-metal	The company ' s 1987 program of diamond drilling , underground drifting and metallurgical evaluation is scheduled to start on April .
strategic-metal	Houston Metals said it has a 60 pct interest in the Silver Queen mines .
strategic-metal	It added that funds for the program have been provided by First Exploration Fund , a Canadian limited partnership sponsored by Merrill Lynch Canada Inc and Dominion Securities Inc .
housing	BANK OF AMERICA SEES SLOW U . S . CONSUMER SPENDING A trade - led boom in the U . S . is unlikely this year or next because growth in net exports will merely offset a dramatic slowdown in consumer spending and other sectors of the economy , Bank of America said in its latest economic report .
housing	Although net exports will add 0 . 7 pct to GNP this year , after reducing it by 1 . 2 pct in 1986 , consumer spending will contribute 1 . 4 pct less to GNP than it did last year .
housing	As a result , GNP this year is likely to expand a modest 2 . 5 pct , the same rate as last year , according to Daniel Van Dyke , the Bank of America economist who wrote the report .
housing	" Growth in consumer spending in the United States will drop dramatically this year because the jump in inflation will cause a falloff in the growth of disposable income ," Van Dyke said .
housing	Growth in U . S . consumer spending is likely to slow to 1 . 8 pct this year from 4 . 1 pct in 1986 , he predicted .
housing	The report was released before the Commerce Department reported today that personal income rose just 0 . 2 pct in May , after increasing 0 . 4 pct in April , and that personal consumption expenditures had risen just 0 . 1 pct , compared with a 0 . 6 pct increase the month before .
housing	The rising cost of energy and imports is likely to boost consumer prices by an average of 3 . 7 pct this year , up from 1 . 9 pct in 1986 , Bank of America forecast .
housing	This rise in inflation will reduce real disposable income growth to only 1 . 3 pct in 1987 from 2 . 9 pct in 1986 .
housing	As a result , Van Dyke calculated that the purchasing power of an average family of four will increase by a modest 540 dlrs this year compared to a surge of 1 , 210 dlrs during 1986 .
housing	The slowdown in income growth is likely to cause housing starts to drop by 4 . 2 pct this year and a further six pct in 1988 to an annual rate of 1 . 63 mln units .
housing	" For the first time in several years , a recession in 1988 or 1989 is more than a remote possibility ," Van Dyke said .
housing	Currently , U . S . growth is fragile and depends heavily on an improvement in trade .
housing	" However , with protectionist attitudes on the rise in this country , this source of growth is at risk ," he added .
housing	INTEREST RATES HURT U . S . MAY HOUSING SALES Sales of new single - family homes tumbled 14 . 9 pct in May from April levels because of higher mortgage interest rates , analysts said .
housing	" There should be another month or two of very weak new home sales but with interest rates stabilizing , sale of new homes should become more stable by mid - summer ," said economist Lawrence Chimerine of Wharton Econometrics Inc .
housing	The drop in May , to a seasonally adjusted annual rate of 616 , 000 units , was the largest since January 1982 , the Commerce Department said .
housing	Interest rates on conventional mortgages bottomed out at about 9 . 08 pct in March and rose to about 10 . 7 pct in April , according to Stephen Roach , economist at Morgan Stanley .
housing	The effect was to freeze some potential new homebuyers out of the market , he and others said .
housing	" The rates moved very suddenly and were certainly unexpected by homebuyers ," said Cynthia Latta , an economist with Data Resources .
housing	" They were so startled , they wanted to hold back and see what would happen ."
housing	The drop in sales of new single - family home sales was sharper than expected , some economists said .
housing	" We fully expected a decline but the extent was more than we anticipated ," said James Christian , chief economist for the U . S . League of Savings Institutions .
housing	Christian said there was a sharp rise in May in sales of existing homes , which are generally less expensive than new homes .
housing	Latta of Data Resources said strong sales of new condominiums in the Northeast and on the West Coast were reflected in sales of existing but not new homes .
housing	Christian of the U . S . League of Savings Institutions said , " Underlying housing demand remains strong .
housing	I think the market is going to stabilize and give us a good second half ."
housing	Others were less optimistic , however .
housing	" We clearly won ' t have a boom ( in new home sales ) but I don ' t think this is the start of a collapse in single - family housing ," said Chimerine of Wharton .
housing	Eugene Sherman , chief economist of the Federal Home Loan Bank of New York , said , " The lower sales level will be maintained for awhile until there is another change in rates .
housing	There won ' t be much specific improvement in coming months ."
housing	U . S . SEPT HOUSING STARTS ROSE 4 . 4 PCT TO 1 . 669 MLN , PERMITS FELL 0 . 6 PCT TO 1 . 493 MLN
housing	U . S . SEPT HOUSING STARTS ROSE 4 . 4 PCT TO 1 . 669 MLN , PERMITS FELL 0 . 6 PCT TO 1 . 493 MLN
housing	U . S . HOUSING STARTS ROSE 4 . 4 PCT IN SEPTEMBER U . S . housing starts rose 4 . 4 pct in September to a seasonally adjusted annual rate of 1 , 669 , 000 units , the Commerce Department said .
housing	In August , housing starts were unchanged from July levels at 1 , 598 , 000 units , instead of being down 1 . 5 pct as previously reported .
housing	The increase in September housing starts was the largest since a 10 . 8 pct gain in starts in December 1986 , Commerce Department officials said .
housing	The rate at which permits were issued for future construction fell 0 . 6 pct in September to a seasonally adjusted 1 , 493 , 000 units from 1 , 502 , 000 units in August .
housing	Permits had risen 1 . 0 pct in August from July levels of 1 , 487 , 000 units .
housing	Before seasonal adjustment , permits rose to 135 , 500 in September from 128 , 000 in August .
housing	Housing starts before adjustment rose to 150 , 200 in September from 144 , 600 in August .
housing	The seasonally adjusted rise in starts included a 5 . 1 pct increase in September single - family unit starts to 1 , 168 , 000 from 1 , 111 , 000 in August .
housing	Single - family starts had fallen 2 . 8 pct in August from July levels .
housing	Multi - family starts rose 2 . 9 pct in September to a seasonally adjusted 501 , 000 units after a 7 . 0 pct increase in August , the department said .
housing	Permits for single - family units fell 3 . 2 pct last month to a seasonally adjusted 990 , 000 units after a 3 . 0 pct August rise .
housing	Multi - family permits were up 5 . 0 pct in September to 503 , 000 units after falling 3 . 0 pct in August .
housing	Housing starts in September were down 1 . 2 pct from a seasonally adjusted 1 , 689 , 000 units in September 1986 .
housing	Permits were 11 . 5 pct below the September 1986 level of 1 , 687 , 000 units .
housing	U . S .
housing	SINGLE - FAMILY HOME SALES FELL 6 . 8 PCT IN JAN AFTER REVISED 12 . 1 PCT DEC GAIN
housing	U . S .
housing	SINGLE - FAMILY HOME SALES FELL 6 . 8 PCT IN JAN AFTER REVISED 12 . 1 PCT DEC GAIN
housing	U . S . HOME SALES FELL 6 . 8 PCT IN JANUARY Sales of new single - family homes in the United States fell 6 . 8 pct in January from December to a seasonally adjusted annual rate of 716 , 000 units , the Commerce Department said .
housing	The department revised downward December ' s sales to a 12 . 1 pct rise to 768 , 000 units from the previously reported 12 . 7 pct increase .
housing	The January decline in sales was the largest since last October when sales fell 9 . 3 pct .
housing	Before seasonal adjustment , the number of homes actually sold in January was 53 , 000 , up from 49 , 000 in December but down from 59 , 000 in January , 1986 .
housing	The January fall brought home sales to a level 1 . 6 pct below January , 1986 , when they were a seasonally adjusted 728 , 000 units .
housing	The average price was a record 127 , 100 dlrs , surpassing the previous record 119 , 100 price set in December .
housing	The median price of a home in January reached 100 , 700 dlrs -- the first time the price has exceeded 100 , 000 dlrs .
housing	That compared with a median price of 94 , 600 dlrs in December and 94 , 000 dlrs in January a year ago .
housing	New homes available on the market in January totaled a seasonally adjusted 362 , 000 units , unchanged from December and equal to a 6 . 3 months ' supply .
housing	The supply in December was 5 . 9 months .
housing	JAPAN HOUSING STARTS RISE IN FEBRUARY Japan ' s housing starts in February rose 13 . 4 pct from a year earlier to 109 , 254 , the 10th successive year - on - year gain , the Construction Ministry said .
housing	February housing starts were up 16 . 8 pct from 93 , 554 in January when they fell 27 . 4 pct from a month earlier but rose 10 . 3 pct from a year earlier .
housing	Higher housing starts were mainly due to a 26 . 8 pct year - on - year rise in apartment building starts to 51 , 829 for the 56th consecutive gain , spurred primarily by lower domestic interest rates .
housing	RUTER
housing	U . S . SENATE PASSES HOUSING BILL The Senate passed a two year extension of federal housing programs , including 15 billion dlrs for lower income housing assistance over two years .
housing	The vote was 71 to 27 .
housing	Total value of the bill was estimated at 31 billion dlrs .
housing	The bill permanently extended the authorization for Federal Housing Authority mortgage insurnce .
housing	The bill also extended the urban development grant program , the national flood insurance act , the rural housing program as well as several other housing programs .
housing	The bill now goes to the House .
housing	JANUARY HOUSING SALES DROP , REALTY GROUP SAYS Sales of previously owned homes dropped 14 . 5 pct in January to a seasonally adjusted annual rate of 3 . 47 mln units , the National Association of Realtors ( NAR ) said .
housing	But the December rate of 4 . 06 mln units had been the highest since the record 4 . 15 mln unit sales rate set in November 1978 , the group said .
housing	" The drop in January is not surprising considering that a significant portion of December ' s near - record pace was made up of sellers seeking to get favorable capital gains treatment under the old tax laws ," said the NAR ' s John Tuccillo .
housing	CANADA BUILDING PERMITS RISE IN NOVEMBER Led by the non - residential sector , Canadian building permits issued in November rose 0 . 7 pct to 2 . 18 billion dlrs , seasonally adjusted , from 2 . 16 billion dlrs in October , Statistics Canada said .
housing	Residential permits fell 3 . 9 pct to 1 . 25 billion dlrs from 1 . 30 billion dlrs in October while the number of units approved fell to 17 , 552 from 19 , 079 units .
housing	The value of non - residential projects rose 7 . 6 pct to 927 . 6 mln dlrs in the month .
housing	U . S . HOSUING COMPLETIONS FELL 0 . 2 PCT IN JANUARY U . S . Completions of new homes fell 0 . 2 pct in January to a seasonally adjusted rate of 1 . 884 mln units from 1 . 888 mln in December , the Commerce Department said .
housing	The January fall came after a strong 6 . 4 pct rise from November ' s rate of 1 . 774 mln units and brought completions to 6 . 7 pct above the January , 1986 level of 1 . 765 mln units .
housing	In January , completions of single - family units rose 0 . 4 pct to a seasonally adjusted 1 . 183 mln units from 1 . 178 mln units in December while multi - family units fell 1 . 3 pct to 701 , 000 units in January , the department said .
housing	U . S . HOUSING COMPLETIONS FELL 0 . 2 PCT IN JAN Completions of new homes fell 0 . 2 pct in January to a seasonally adjusted rate of 1 . 884 mln units from 1 . 888 mln in December , the Commerce Department said .
housing	The January fall came after a strong 6 . 4 pct rise from November ' s rate of 1 . 774 mln units and brought completions to 6 . 7 pct above the January , 1986 , level of 1 . 765 mln units .
housing	In January , completions of single - family units rose 0 . 4 pct to a seasonally adjusted 1 . 183 mln units from 1 . 178 mln units in December while multi - family units fell 1 . 3 pct to 701 , 000 units in January , the department said .
housing	U . S . HOUSING COMPLETIONS FELL 0 . 2 PCT IN JANUARY U . S . Completions of new homes fell 0 . 2 pct in January to a seasonally adjusted rate of 1 . 884 mln units from 1 . 888 mln in December , the Commerce Department said .
housing	The January fall came after a strong 6 . 4 pct rise from November ' s rate of 1 . 774 mln units and brought completions to 6 . 7 pct above the January , 1986 level of 1 . 765 mln units .
housing	In January , completions of single - family units rose 0 . 4 pct to a seasonally adjusted 1 . 183 mln units from 1 . 178 mln units in December while multi - family units fell 1 . 3 pct to 701 , 000 units in January , the department said .
housing	QUEBEC FEBRUARY HOUSING STARTS FALL Quebec housing starts fell in February to 2 , 191 , a four pct drop from last year when growth in Quebec housing starts was among the highest in the Canada , the Canada Mortgage and Housing Corp said .
housing	The February rate seasonally adjusted now stands at 40 , 000 , down from 79 , 000 in January , the government agency said .
housing	U . S . FEB HOUSING STARTS ROSE 2 . 6 PCT TO 1 . 851 MLN , PERMITS ROSE 4 . 4 PCT TO 1 . 764 MLN
housing	U . S . FEB HOUSING STARTS ROSE 2 . 6 PCT TO 1 . 851 MLN , PERMITS ROSE 4 . 4 PCT TO 1 . 764 MLN
housing	U . S . HOUSING STARTS ROSE 2 . 6 PCT IN FEBRUARY U . S . housing starts rose 2 . 6 pct in February to a seasonally adjusted annual rate of 1 , 851 , 000 units , the Commerce Department said .
housing	In January , housing starts fell a revised 0 . 5 pct to 1 , 804 , 000 units .
housing	The department previously said they fell 0 . 1 pct .
housing	The rate at which permits were issued for future construction rose in February by 4 . 4 pct to a seasonally adjusted 1 , 764 , 000 units after falling 11 . 52 pct to 1 , 690 , 000 units in January .
housing	Permits for single - family houses fell in January by 6 . 6 pct to 1 , 091 , 000 .
housing	The number of permits for multi - family houses fell in February by 11 . 7 pct to 529 , 000 units after falling in January by 19 . 3 pct , the department said .
housing	Housing starts in February included a seasonally adjusted 5 . 6 pct rise in single family units to 1 , 317 , 000 units and a 4 . 1 pct fall in multi - family homes to 534 , 000 units .
housing	The seasonally adjusted permits total in February for single family units was 1 , 235 , 000 and for multi - family units was 529 , 000 units .
housing	BALDRIGE PREDICTS SOLID U . S . HOUSING GROWTH Commerce Secretary Malcolm Baldrige predicted 1987 will be the fifth successive year for growth in housing starts after a 2 . 6 pct rise overall in February starts to a seasonally adjusted annual rate of 1 . 851 mln units .
housing	" This year should be the fifth solid year in a row for homebuilding activity -- with single - family units stronger than multi - family units ," he said in a statement .
housing	Single - family starts rose last month from January levels by 5 . 6 pct to 1 . 317 mln units on a seasonally adjusted basis while multi - family unit starts fell 4 . 1 pct to 534 , 000 units , the department said .
housing	BALDRIGE PREDICTS SOLID U . S . HOUSING GROWTH Commerce Secretary Malcolm Baldrige predicted 1987 will be the fifth successive year for growth in housing starts after a 2 . 6 pct rise overall in February starts to a seasonally adjusted annual rate of 1 . 851 mln units .
housing	" This year should be the fifth solid year in a row for homebuilding activity -- with single - family units stronger than multi - family units ," he said in a statement .
housing	Single - family starts rose last month from January levels by 5 . 6 pct to 1 . 317 mln units on a seasonally adjusted basis while multi - family unit starts fell 4 . 1 pct to 534 , 000 units , the department reported .
housing	U . S . HOUSING DATA FAIL TO CLARIFY ECONOMIC PATH Surprisingly strong U . S . housing statistics for February cannot be taken as an indication that the economy is generating any momentum and are not sufficient cause to start lifting forecasts for first quarter growth , economists said .
housing	Building was boosted by two factors last month , unusually mild weather and low mortgage rates .
housing	But economists said that seasonal factors make it hard to assess what spur to the economy , if any , will come from housing in coming months .
housing	And after a steady retreat , mortgage rates seem to be near bottom .
housing	U . S . housing starts rose 2 . 6 pct in February to a seasonally adjusted annual rate of 1 . 851 mln units from 1 . 804 mln in January .
housing	It was the highest pace for starts since April 1986 .
housing	The rate at which permits were issued for future building climbed 4 . 4 pct to a seasonally adjusted annual rate of 1 . 764 mln units after dropping 11 . 52 pct to 1 . 690 mln in January .
housing	" February ' s weather is usually more adverse for home building .
housing	Because of seasonal factors it ' s difficult to determine what this means for the economy down the road ," said Allan Leslie of Discount Corp .
housing	The housing report is seasonally - weighted to compensate for weather - related setbacks .
housing	As a result , milder temperatures inflate the statistics .
housing	Economists said that low mortgage rates also were a spur to building last month .
housing	But several believe that rates will now consolidate before edging up in late spring / early summer .
housing	" Builders are looking at current mortgage rates and saying ' Let ' s do it now '," said Mark Obrinsky of the U . S . League of Savings Institutions in Washington , whose members supply much of the financing for home building .
housing	But Obrinsky doubts that there is much more downward potential for rates because he foresees higher inflation and some overall improvement in the U . S . economy .
housing	He expects rates to gain 50 to 100 basis points in early summer from the 9 . 50 pct fixed rate effective in February .
housing	Last November , fixed rate mortgages were about 10 . 30 pct .
housing	As expected , the strength in housing was concentrated in the single - family sector .
housing	The multi - family area -- which typically represents rental units -- remained weak due to high vacancy rates and increased capital costs of such units following tax law changes effective January 1 .
housing	Single - family starts rose at a 5 . 6 pct annual pace to 1 . 317 mln units .
housing	Multi - family fell 4 . 1 pct to a 534 , 000 rate .
housing	" Strength in the single - family sector indicates that low mortgage rates are doing their job .
housing	But we ' re probably not looking at a great deal of growth potential ," said Ward McCarthy of Merrill Lynch Capital Markets .
housing	McCarthy noted that the housing report , together with larger than expected gains in U . S . employment , industrial output and retail sales in February , may cause some observers to start waving " four pct GNP banners " for the first quarter .
housing	Gross national product grew 1 . 3 pct in the fourth quarter .
housing	But McCarthy , who still expects first quarter real GNP to come in at an annual rate of 2 . 5 pct or slightly above , is not convinced that growth will pick up in future .
housing	" The big story is the inventory re - building that ' s going on now , not all of which is intentional ," he said .
housing	For example , U . S . automakers , who are already saddled with high stocks , produced at an annual rate of 8 . 3 mln units in February compared with domestic car sales of 7 . 3 mln .
housing	Thus while inventories could contribute to GNP in the first quarter , they may result in scaled - back production and weaker growth in the second , he said .
housing	" If most of the first quarter growth is inventory building and we cannot identify any improvement in export demand , then there is the potential for softness in the second quarter ," agreed Allan Leslie of Discount Corp .
housing	He is still evaluating first quarter GNP prospects .
housing	Federal Reserve chairman Paul Volcker said last week that current data do not show the worsening in trade has reversed .
housing	" At the same time that we are pumping up inventories in the first quarter , we could foresee production slowing in the second ," cautioned Joe Plocek of McCarthy , Crisanti and Maffei Inc , who expects first quarter growth of about three pct .
housing	U . S . HOME RESALES UP IN FEBRUARY , REALTORS SAY The National Association of Realtors said sales of previously owned homes rose six pct during February from January levels to a seasonally adjusted annual rate of 3 . 69 mln units .
housing	The realtors ' group said the sales rise was apparent across the country and reflected lower mortgage interest rates as well as more housing demand .
housing	Actual resales of homes during February totaled 241 , 000 , up 11 . 6 pct from the January total of 216 , 000 , the association said .
money-supply	FED ' S HELLER SEES RETURN TO SLOWER MONEY SUPPLY GROWTH
money-supply	FED ' S HELLER SEES RETURN TO SLOWER MONEY SUPPLY GROWTH
money-supply	FED ' S HELLER SAYS MONETARY GROWTH TO BE SLOWER Robert Heller , a member of the Federal Reserve Board , said he expects " more modest levels " of growth in the money supply this year .
money-supply	" In my view , this would not only be a logical , but also a most desireable development ," he said in a speech prepared for delivery to an economic forum at Chapman College in Orange , Calif . A text was released in Washington .
money-supply	He said the effect of lower inflation and financial deregulation on monetary aggregates was now largely finished .
money-supply	" Consequently , monetary growth may return to more modest levels ," Heller said .
money-supply	He noted growth in the money supply slowed after mid - January .
money-supply	" I would not be surprised at all if the monetary aggregates were to grow rather slowly during the balance of the year as well ," he added .
money-supply	Heller said there was a danger of renewed price inflation .
money-supply	" The pricing behavior of American producers in response to price increases of their foreign competitors will be crucial for our economic future ," he said .
money-supply	Widespread domestic price rises in response to rising import prices would " generalize the inflationary forces emanating from the foreign trade sector " and might not gain more market share for U . S . producers .
money-supply	" A return to the stagflation of the late 1970s may well be the result of such a behavior pattern ," Heller warned .
money-supply	He said " we at the Federal Reserve will have to be disciplined in our conduct of monetary policy ."
money-supply	Heller said said the government should also exercise fiscal discipline and cut the deficit by spending restraint rather than new taxes .
money-supply	" The imposition of new taxes would tend to rekindle inflation and certainly would not make us more competitive in international markets ," Heller said .
money-supply	He said the U . S . economy should expand by nearly three pct during 1987 , aided by higher exports to Europe and Canada .
money-supply	A free trade agreement currently being negotiated with Canada " would be exceedingly helpful in allowing American producers to compete more effectively in that country ," Heller said .
money-supply	SPANISH EMPLOYERS WORRIED BY HIGH INTEREST RATES The head of Spain ' s employers ' federation , Jose Maria Cuevas , said employers were worried about the government ' s monetary policies because high real interest rates were hampering investment .
money-supply	He told a news conference wage pacts signed so far this year were not endangering the government ' s five pct inflation target .
money-supply	The government ' s perceived need to control inflation by keeping a tight rein on credit was unnecessary , he said .
money-supply	High real interest rates were attracting an influx of speculative foreign capital which was undercutting the government ' s target for monetary growth , Cuevas said .
money-supply	Spain ' s most closely - watched measure of money supply , liquid assets in public hands , grew at an annualised rate of 17 pct in March , against 11 . 4 pct in December last year and a target range of 6 . 5 to 9 . 5 pct for 1987 .
money-supply	To combat this , the Bank of Spain has raised its call money rate 14 times so far this year , to 14 . 5 pct at present from 11 . 8 at end - 1986 .
money-supply	Cuevas said employers were heeding the government ' s call to hold wage increases to its five pct inflation target this year , with increases from salary reviews awarded last year and new wage pacts averaging 5 . 6 pct in the first quarter of 1987 .
money-supply	These agreements covered less than 40 pct of Spanish workers , Cuevas said , with the rest still in wage negotiations .
money-supply	He said Spain ' s current wave of strikes mainly affected the state sector , where the government is trying to impose its five pct wage ceiling .
money-supply	Cuevas said employers were also worried about the trend in Spain ' s foreign trade balance .
money-supply	The trade deficit in the first two months of 1987 totalled 233 billion pesetas , a 68 pct increase over the corresponding period last year .
money-supply	However , employers did not favour a devaluation of the peseta to correct the imbalance .
money-supply	NEW YORK BUSINESS LOANS FALL 1 . 31 BILLION DLRS Commercial and industrial loans on the books of the 10 major New York banks , excluding acceptances , fell 1 . 31 billion dlrs to 62 . 70 billion in the week ended April 1 , the Federal Reserve Bank of New York said .
money-supply	Including acceptances , loans dropped 1 . 34 billion dlrs to 63 . 23 billion .
money-supply	Commercial paper outstanding nationally fell 4 . 80 billion dlrs to 334 . 28 billion .
money-supply	National business loan data are scheduled to be released on Friday .
money-supply	N . Y . BANK DISCOUNT BORROWINGS 169 MLN DLRS The eight major New York City banks had daily average borrowings of 169 mln dlrs from the Federal Reserve in the week ended April 8 , a Fed spokesman said .
money-supply	A Fed spokesman said that all of the borrowings were made yesterday by fewer than half the banks .
money-supply	It was the second half of the two - week bank statement period that ended on Wednesday .
money-supply	Average borrowings by these banks were 142 mln dlrs in the first week of the period .
money-supply	U . S . M - 1 MONEY SUPPLY FALLS TWO BILLION DLRS IN MARCH 30 WEEK , FED SAYS
money-supply	U . S . M - 1 MONEY SUPPLY FALLS TWO BILLION DLRS IN MARCH 30 WEEK , FED SAYS
money-supply	FED SAYS U . S . DISCOUNT WINDOW BORROWINGS 361 MLN DLRS IN APRIL 8 WEEK
money-supply	FED SAYS U . S . DISCOUNT WINDOW BORROWINGS 361 MLN DLRS IN APRIL 8 WEEK
money-supply	U . S . BANK NET FREE RESERVES 447 MLN DLRS IN TWO WEEKS TO APRIL 8
money-supply	U . S . BANK NET FREE RESERVES 447 MLN DLRS IN TWO WEEKS TO APRIL 8
money-supply	U . S . BANK DISCOUNT BORROWINGS 361 MLN DLRS U . S . bank discount window borrowings less extended credits averaged 361 mln dlrs a day in the week to Wednesday , April 8 , the Federal Reserve said .
money-supply	Total daily borrowings in the week fell 99 mln dlrs to 591 mln dlrs , with extended credits down 35 mln dlrs at 230 mln dlrs .
money-supply	The week was the second half of the two - week statement period that ended Wednesday .
money-supply	Net borrowings averaged 425 mln dlrs in the first week of the period .
money-supply	Commenting on the two - week statement period that ended on April 8 , the Fed said banks had average net free reserves of 447 mln dlrs .
money-supply	A Fed spokesman told a press conference that there were no large one - day net misses in the Fed ' s estimates of reserves in the week ended Wednesday .
money-supply	Of the week ' s borrowings , money center banks accounted for 65 pct , and small banks for almost 35 pct .
money-supply	On Wednesday , when net borrowings were 1 . 36 billion dlrs and Fed funds averaged a high 6 . 45 pct , money center banks accounted for more than 90 pct of the borrowing .
money-supply	Borrowings in the latest two weeks averaged 393 mln dlrs a day , the highest since the statement period ended January 28 .
money-supply	Float ranged from about 250 mln dlrs on Thursday to between one and 1 . 25 billion dlrs on Monday and Tuesday .
money-supply	The spokesman said Monday ' s float included 500 mln dlrs in holdover float at one Fed branch due to mechanical problems .
money-supply	About 500 mln dlrs of Tuesday ' s float reflected non - weather - related transportation float in one Eastern Reserve bank .
money-supply	As - of adjustments ranged from minus 500 mln dlrs on Monday , when cash letter errors at two eastern reserve banks were corrected , to plus 500 mln dlrs on Thursday , when a correction was made to unposted funds at a single bank .
money-supply	In the first half of the statement period ended Wednesday , banks held excess reserves on the first four days of the week but ran a deficit on Wednesday .
money-supply	In the second week , they ran a deficit on Thursday , Friday and Monday but held excess reserves on the final two days .
money-supply	U . S . M - 1 MONEY SUPPLY FALLS TWO BILLION DLRS U . S . M - 1 money supply fell two billion dlrs to a seasonally adjusted 738 . 9 billion dlrs in the March 30 week , the Federal Reserve said .
money-supply	The previous week ' s M - 1 level was revised to 740 . 9 billion dlrs from 741 . 0 billion , while the four - week moving average of M - 1 rose to 739 . 8 billion dlrs from 739 . 7 billion .
money-supply	Economists polled by Reuters said that M - 1 would be anywhere from down two billion dlrs to up 1 . 8 billion .
money-supply	ASSETS OF U . S . MONEY FUNDS ROSE IN WEEK Assets of money market mutual funds increased 1 . 39 billion dlrs in the week ended yesterday to 236 . 77 billion dlrs , the Investment Company Institute said .
money-supply	Assets of 93 institutional funds were up 481 . 1 mln dlrs to 65 . 65 billion dlrs , 93 broker - dealer funds rose 285 . 3 mln dlrs to 107 . 31 billion dlrs , and 197 general purpose funds gained 625 . 5 mln dlrs to 63 . 8 billion dlrs .
money-supply	N . Z .
money-supply	TRADING BANK DEPOSIT GROWTH EASES SLIGHTLY New Zealand ' s trading bank seasonally adjusted deposit growth rose 2 . 1 pct in February compared with a 2 . 6 pct rise in January , the Reserve Bank said .
money-supply	Year - on - year total deposits rose 28 . 9 pct compared with a 30 . 6 pct rise in January and 34 . 4 pct rise in February a year ago period , the bank said in its weekly statistical release .
money-supply	Total deposits rose to 17 . 55 billion N . Z .
money-supply	Dlrs in February compared with 17 . 18 billion in January and 13 . 61 billion in February 1986 .
money-supply	INTEREST RATE DIFFERENTIALS TOO SMALL , BANKER SAYS Swiss National Bank President Pierre Languetin said a wider interest rate differential between the dollar and stronger currencies was needed to brake the dollar ' s fall .
money-supply	At a news conference , he said Japan and West Germany could try to stimulate their economies further by expanding money supply , but he added " I ' m not so sure it would be desirable if monetary policy became more expansive .
money-supply	" But what would be useful is a greater differential in interest rates ," he said .
money-supply	SWISS SIGHT DEPOSITS FALL 4 . 64 BILLION FRANCS Sight deposits of commercial banks at the Swiss National Bank fell 4 . 64 billion Swiss francs to 7 . 88 billion in the first 10 days of April , the National Bank said .
money-supply	Foreign exchange reserves rose by 9 . 4 mln francs to 33 . 12 billion .
money-supply	Sight deposits are an important measure of money market liquidity in Switzerland .
money-supply	The National Bank said banks repaid around 5 . 8 billion francs of traditional central bank credit taken out to meet their end - of - quarter liquidity requirements .
money-supply	This was partially offset by new swap arrangements .
money-supply	Bank notes in circulation fell 440 . 2 mln francs to 24 . 48 billion while other deposits on call at the National Bank -- mainly government funds -- fell 840 . 5 mln francs to 941 . 5 mln .
money-supply	GERMAN INSTITUTES WARN ON MONEY SUPPLY Four of West Germany ' s five leading economic research institutes warned that excessive monetary growth threatened a resurgence of inflation .
money-supply	But in a dissenting view the DIW institute in West Berlin , echoing recent statements by leading Bundesbank officials , said the expansion seen over the last 1 - 1 / 2 years did not necessarily threaten stability .
money-supply	The five institutes issued a joint spring report , in which three -- Kiel , Hamburg and Essen -- forecast a two pct rise in GNP in 1987 , while West Berlin and Munich predicted one pct .
money-supply	The four institutes said an expansive policy was welcome in view of the slowdown in economic activity .
money-supply	But experience has shown that strong monetary growth eventually leads to a price rise which undoes the beneficial effects of monetary policy .
money-supply	Given virtual zero inflation in West Germany such fears may seem exaggerated , they said .
money-supply	" But it has often turned out in the past that the price climate can quickly deteriorate , forcing the central bank into a restrictive policy ," they said .
money-supply	The economic costs of a preventive stability policy are less than fighting inflation once it has taken hold , they said .
money-supply	The four institutes disputed the view that monetary expansion would slow of its own accord in 1987 as domestic investors switch liquidity into longer term capital market investments following lower interest rates .
money-supply	" Such redispositions may temporarily dampen the expansion of central bank money stock , but do not automatically lead to a smaller expansion of money supply ," they said .
money-supply	A return to growth and stability did not require spectacular central bank moves , but could be done quietly with open market operations and repurchase pacts , which would avoid an interest rate rise by dampening inflationary expectations .
money-supply	The DIW institute said monetary policy should not be focused simply on growth of production potential .
money-supply	Because of uncertainty about exchange rate developments and economic weakness other factors should be taken into account .
money-supply	Monetary policy should aim for further interest rate cuts and avoid rises to boost the economy and discourage revaluation speculation .
money-supply	Recent strong monetary expansion was not a threat in itself to price stability .
money-supply	The 1979 / 81 inflation following strong 1977 / 78 money growth reflected other causes , such as rising oil prices and the falling mark .
money-supply	SPANISH MONEY SUPPLY GROWING AT DOUBLE TARGET PACE Spain ' s principal measure of money supply , the broad - based liquid assets in public hands ( ALP ), grew at an annualised rate of 17 . 6 pct in March against 16 . 6 pct in February and 19 . 6 pct in March last year , provisional Bank of Spain figures show .
money-supply	The bank ' s target range for this year is 6 . 5 to 9 . 5 pct , and Bank of Spain Governor Mariano Rubio said this month he was aiming for the lower end of that range .
money-supply	ALP grew by 11 . 4 pct during 1986 .
money-supply	TREASURY BALANCES AT FED FELL ON APRIL 9 Treasury balances at the Federal Reserve fell on April 10 to 3 . 373 billion dlrs from 3 . 523 billion dlrs on the previous business day , the Treasury said in its latest budget statement .
money-supply	Balances in tax and loan note accounts fell to 11 . 645 billion dlrs from 11 . 869 billion dlrs on the same respective days .
money-supply	The Treasury ' s operating cash balance totaled 15 . 018 billion dlrs compared with 15 . 392 billion dlrs on April 9 .
money-supply	JAPAN MARCH MONEY SUPPLY RISES 9 . 0 PCT Japan ' s broadly defined money supply average of M - 2 plus certificate of deposits ( CD ) rose a preliminary 9 . 0 pct in March from a year earlier , compared with an 8 . 8 pct rise in February , the Bank of Japan said .
money-supply	The seasonally adjusted March average of M - 2 plus CDs rose 0 . 8 pct from February when it rose an identical 0 . 8 pct from a month earlier , it said .
money-supply	Unadjusted M - 2 plus CDs stood at an average 343 , 600 billion yen in March compared with 336 , 015 billion in February .
money-supply	JAPAN SEES HIGHER MONEY SUPPLY GROWTH THIS QUARTER The Bank of Japan said it forecast Japan ' s broadly - defined M - 2 money supply average plus certificates of deposit ( CDs ) will rise by about nine pct in the current April - June quarter against 8 . 5 pct a year earlier .
money-supply	Unadjusted M - 2 plus CDs rose a preliminary 8 . 8 pct in January / March 1987 compared with a nine pct rise a year earlier , it said .
money-supply	The bank said the forecast rise is due to an increase in floating deposits due to recent low interest rates and a shift to private banks from the Bank of Japan of 400 - 1 , 000 billion yen by the recently privatised Japanese Railways .
money-supply	U . S . BUSINESS LOANS FALL 1 . 08 BILLION DLRS Business loans on the books of major U . S . banks , excluding acceptances , fell 1 . 08 billion dlrs to 276 . 37 billion dlrs in the week ended April 8 , the Federal Reserve Board said .
money-supply	The Fed said that business loans including acceptances fell 1 . 1 billion dlrs to 278 . 67 billion dlrs .
money-supply	FED DATA PROVIDE NEW EVIDENCE OF TIGHTER POLICY U . S . banking data released today are too distorted to draw sweeping conclusions about monetary policy , but they do support the market ' s assumption that the Federal Reserve has started to tighten its grip on credit , economists said .
money-supply	" It ' s clear that the Fed has firmed somewhat .
money-supply	Discount window borrowings , net free reserves , the Fed funds rate average and the pattern of reserve additions are all consistent with a modest tightening ," said Dana Johnson of First Chicago Corp . Johnson , and several other economists , now estimate that the Fed funds rate should trade between 6 - 1 / 4 and 6 - 3 / 8 pct .
money-supply	Discount window borrowings in the week to Wednesday were 935 mln dlrs a day , producing a daily average for the two - week statement period of 689 mln dlrs , the highest since the week of December 31 , 1986 , and up from 393 mln dlrs previously .
money-supply	Moreover , banks were forced to borrow a huge 5 . 2 billion dlrs from the Fed on Wednesday - the highest daily total this year - even though unexpectedly low Treasury balances at the Fed that day left banks with over two billion dlrs more in reserves than the Fed had anticipated .
money-supply	However , economists said it is almost certain that the Fed is aiming for much lower discount window borrowings than witnessed this week .
money-supply	They pointed to two factors that may have forced banks to scramble for reserves at the end of the week .
money-supply	First , economists now expect M - 1 money supply for the week ended April 29 to rise by a staggering 15 to 20 billion dlrs , partly reflecting the parking in checking accounts of the proceeds from stock market sales and mutual fund redemptions to pay annual income taxes .
money-supply	As banks ' checking - account liabilities rise , so do the reserves that they are required to hold on deposit at the Fed .
money-supply	Required reserves did indeed rise sharply by 2 . 5 billion dlrs a day in the two weeks ended Wednesday , but economists said the Fed may not have believed in the magnitude of the projected M - 1 surge until late in the week and so started to add reserves too late .
money-supply	Second , an apparent shortage of Treasury bills apparently left Wall Street dealers with too little collateral with which to enagage in repurchase agreements with the Fed , economists said .
money-supply	Thus , although there were 10 . 3 billion dlrs of repos outstanding on Wednesday night , the Fed may have wanted to add even more reserves but was prevented from doing so .
money-supply	" It ' s not at all inconceivable that the Fed didn ' t add as much as they wanted to because of the shortage of collateral ," said Ward McCarthy of Merrill Lynch Economics Inc . McCarthy estimated that the Fed is now targetting discount - window borrowings of about 400 mln dlrs a day , equivalent to a Fed funds rate of around 6 - 3 / 8 pct .
money-supply	After citing the reasons why the Fed probably has not tightened credit to the degree suggested by the data , economists said the fact that the Fed delayed arranging overnight injections of reserves until the last day of the statement period was a good sign of a more restrictive policy .
money-supply	Jeffrey Leeds of Chemical Bank had not been convinced that the Fed was tightening policy .
money-supply	But after reviewing today ' s figures , he said , " It ' s fair to say that the Fed may be moving toward a slightly less accommodative reserve posture ."
money-supply	Leeds expects Fed funds to trade between 6 - 1 / 4 and 6 - 3 / 8 pct and said the Fed is unlikely to raise the discount rate unless the dollar ' s fall gathers pace .
money-supply	Johnson at First Chicago agreed , citing political opposition in Washington to a dollar - defense package at a time when Congress sees further dollar depreciation as the key to reducing the U . S . trade surplus with Japan .
money-supply	AUSTRALIA ' S M - 3 MONEY SUPPLY RISE 1 . 5 PCT IN MARCH Australia ' s M - 3 money supply growth was 1 . 5 pct in March and 11 . 3 pct in the 12 months to March , the Reserve Bank said .
money-supply	This compared with a revised rise of 0 . 5 pct in February and 11 . 1 pct in the year to end - February .
money-supply	The Reserve Bank said the M - 3 data for March was affected by the start of the operations of & lt ; National Mutual Royal Savings Bank Ltd >, which has resulted in the transfer of deposits ( equivalent to around 1 . 5 pct of m - 3 ) from the United Permanent Building Society to National Mutual Royal Savings Bank Ltd .
money-supply	The Reserve Bank said M - 3 money supply in March was 110 . 77 billion Australian dlrs compared with a revised 109 . 11 billion in February and 99 . 48 billion in March , 1986 .
money-supply	M - 3 is deposits of the private sector held by trading and savings banks plus holdings of notes and coins .
money-supply	JAPAN DOES NOT INTEND TO EASE CREDIT - OFFICIALS The Bank of Japan does not intend to ease credit policy further , bank officials told Reuters .
money-supply	They were responding to rumours in the Japanese bond market that the central bank was planning to cut its 2 . 5 pct discount rate soon , possibly before Prime Minister Yasuhiro Nakasone leaves for Washington on April 29 .
money-supply	Bank of Japan governor Satoshi Sumita will be in Osaka , western Japan on April 27 and 28 for the annual meeting of the Asian Development Bank , making a rate cut announcement early next week a virtual impossibility , they said .
money-supply	April 29 is a holiday here .
money-supply	SOUTH AFRICAN M - 3 APRIL GROWTH REVISED UPWARD South African year - on - year broadly defined M - 3 money supply growth was revised upward to 10 . 37 pct for April from a preliminary 10 . 08 pct , but was down from a revised 10 . 69 pct in March , Reserve Bank figures show .
money-supply	M - 3 rose to a revised 82 . 38 billion rand in April from a preliminary 82 . 17 billion and March ' s revised 81 . 39 billion .
money-supply	In April last year M - 3 stood at 74 . 64 billion rand .
money-supply	Preliminary figures for May show M - 3 at 83 . 24 billion rand for a year - on - year rise of 10 . 97 pct from 75 . 01 billion in May 1986 .
money-supply	April M - 1A rose a year - on - year 15 . 12 pct to 14 . 22 billion rand after rising 14 . 72 pct to 13 . 97 billion in March while M1 rose 24 . 49 pct to 27 . 92 billion after a 20 . 69 pct increase to 26 . 97 billion , the figures showed .
money-supply	M - 2 rose 8 . 28 pct to 58 . 71 billion in April after rising 6 . 47 pct to 57 . 52 billion in March .
money-supply	U . K . MAY ADJUSTED M3 RISES PROVISIONAL 2 . 1 PCT , M0 UP 0 . 5 PCT - BANK OF ENGLAND
money-supply	U . K . MAY ADJUSTED M3 RISES PROVISIONAL 2 . 1 PCT , M0 UP 0 . 5 PCT - BANK OF ENGLAND
money-supply	ASSETS OF U . S . MONEY FUNDS FELL 702 . 4 MLN DLRS IN LATEST WEEK TO 235 . 75 BILLION
money-supply	ASSETS OF U . S . MONEY FUNDS FELL 702 . 4 MLN DLRS IN LATEST WEEK TO 235 . 75 BILLION
money-supply	FED DATA SUGGEST NO CHANGE IN MONETARY POLICY New U . S . Banking data suggest the Federal Reserve is guiding monetary policy along a steady path and is not signalling any imminent change of course , economists said .
money-supply	But they also said that if money supply growth remains weak , as this week ' s unexpected eight billion dlr M - 1 decline suggests it may , this could influence the Fed to loosen its credit reins and move toward a more accommodative monetary policy .
money-supply	A Reuter survey of 17 money market economists produced a forecast of a 600 mln dlr M - 1 decline for the week ended June 8 , with estimates ranging from a gain of one billion dlrs to a decline of four billion .
money-supply	Instead , M - 1 fell eight billion dlrs to 745 . 7 billion dlrs at a seasonally adjusted annual rate .
money-supply	Coming on the heels of a 4 . 3 billion decrease in M - 1 for the week ended June 1 , this means the nation ' s money supply has fallen more than 12 billion dlrs in the past two weeks , economists said .
money-supply	" M - 1 has hit an air pocket of weakness ," said Bill Sullivan of Dean Witter Reynolds Inc .
money-supply	While M - 1 may have lost its significance as an indicator of economic growth , Sullivan said Fed officials might be concerned the latest drop in M - 1 means another month of sluggish growth in the broader monetary aggregates , M - 2 and M - 3 , which are seen as better gauges of economic growth .
money-supply	Latest monthly M - 2 and M - 3 data showed that as of May , both measures were growing at rates below the bottom of the Fed ' s 5 - 1 / 2 to 8 - 1 / 2 pct target ranges .
money-supply	If money growth does not accelerate , Fed officials , concerned that this indicates economic growth is flagging , could turn toward easier monetary policy , economists said .
money-supply	" Does this mean that the Fed abandons its current open market position ?
money-supply	No ," Sullivan said .
money-supply	" But does this mean the end of tightening for the time being ?
money-supply	Definitely yes ."
money-supply	Economists said average adjusted discount window borrowings of 385 mln dlrs for the latest two - week bank statement period were lower than they had expected .
money-supply	Most believed the Fed had targetted a two - week borrowings average of around 500 mln dlrs .
money-supply	But they said that if it had not been for a large one - day net miss in the Fed ' s reserve projections , the higher borrowings target would probably have been reached .
money-supply	A drop in May U . S . Housing starts and continued weakness in auto sales show key sectors of the U . S . Economy are lagging , while a recent modest 0 . 3 pct gain in May producer prices has helped dispel inflation fears , Slifer said .
money-supply	" If this continues , we can entertain the notion of Fed easing at some point ," he said .
money-supply	Other economists said the Fed would probably pay little attention to weak money supply growth .
money-supply	" It has been a number of years since M - 1 has given good signs of what ' s going on in the economy ," one said .
money-supply	" I don ' t think M - 1 shows that the economy is falling apart and the Fed should ease ."
money-supply	Economists agreed a stable dollar will continue to be a prerequisite for any move by the Fed toward easier monetary policy .
money-supply	They said the Fed is reluctant to lower short - term rates for fear this would spur expectations of a weaker dollar and higher inflation which would push up long - term yields and choke off econmomic growth .
money-supply	But Sullivan said the dollar has been steady since late April .
money-supply	" The Fed has to determine if this represents a fundamental change for the dollar .
money-supply	If it does , then this gives them more room to ease ," he said .
money-supply	CANADIAN MONEY SUPPLY M - 1 FELL 430 MLN DLRS IN WEEK , BANK OF CANADA SAID
money-supply	CANADIAN MONEY SUPPLY M - 1 FELL 430 MLN DLRS IN WEEK , BANK OF CANADA SAID
money-supply	CANADIAN MONEY SUPPLY FALLS IN WEEK Canadian narrowly - defined money supply M - 1 fell 430 mln dlrs to 35 . 65 billion dlrs in week ended June 10 , Bank of Canada said .
money-supply	M - 1 - A , which is M - 1 plus daily interest chequable and non - personal deposits , fell 874 mln dlrs to 79 . 97 billion dlrs and M - 2 , which is M - 1 - A plus other notice and personal fixed - term deposits , fell 952 mln dlrs to 184 . 45 billion dlrs .
money-supply	M - 3 , which is non - personal fixed term deposits and foreign currency deposits of residents booked at chartered banks in Canada , fell 549 mln dlrs to 225 . 30 billion dlrs .
money-supply	Chartered bank general loans outstanding fell 584 mln dlrs to 127 . 58 billion dlrs .
money-supply	Canadian liquid plus short term assets rose 20 mln dlrs to 37 . 96 billion dlrs and total Canadian dollar major assets of the chartered banks fell 753 mln dlrs to 229 . 05 billion dlrs .
money-supply	Chartered bank net foreign currency assets fell 92 mln dlrs to minus 1 . 92 billion dlrs .
money-supply	Notes in circulation totalled 17 . 11 billion dlrs , up 59 mln dlrs from the week before .
money-supply	Government cash balances rose 26 mln dlrs to 2 . 65 billion dlrs in week ended June 17 .
money-supply	Government securities outstanding fell 424 mln dlrs to 227 . 38 billion dlrs in week ended June 17 , treasury bills rose 700 mln dlrs to 78 . 00 billion dlrs and Canada Savings Bonds fell 121 mln dlrs to 42 . 45 billion dlrs .
money-supply	U . S . BUSINESS LOANS FALL 896 MLN DLRS IN JUNE 10 WEEK , FED SAYS
money-supply	U . S . BUSINESS LOANS FALL 896 MLN DLRS IN JUNE 10 WEEK , FED SAYS
money-supply	Japan September M - 2 plus CD money supply rises 11 . 1 pct year on year ( Aug 11 . 0 )
money-supply	Japan September M - 2 plus CD money supply rises 11 . 1 pct year on year ( Aug 11 . 0 )
money-supply	JAPAN MONEY GROWTH TO STAY AT 11 - 12 PCT - OFFICIAL Growth in Japan ' s M - 2 plus certificates of deposit ( CD ) money supply in the October to December period is not expected to accelerate , but will remain at high levels between 11 and 12 pct , a senior Bank of Japan official said .
money-supply	The central bank will keep a watch on high growth in liquidity because this is a factor that may cause rises in prices of goods , he said .
money-supply	The September growth of 11 . 1 pct year on year announced earlier today should not be taken as implying that the money supply has started to expand very rapidly , he said .
money-supply	In August the rate of increase was 11 . 0 pct .
money-supply	U . K . SEPTEMBER M3 RISES 0 . 8 PCT , M0 UP 0 . 8 PCT - BANK OF ENGLAND .
money-supply	U . K . SEPTEMBER M3 RISES 0 . 8 PCT , M0 UP 0 . 8 PCT - BANK OF ENGLAND .
money-supply	U . K . SEPTEMBER STERLING BANK LENDING UP 4 . 4 BILLION STG - OFFICIAL .
money-supply	U . K . SEPTEMBER STERLING BANK LENDING UP 4 . 4 BILLION STG - OFFICIAL .
money-supply	N . Z .
money-supply	TRADING BANK DEPOSIT GROWTH RISES SLIGHTLY New Zealand ' s trading bank seasonally adjusted deposit growth rose 2 . 6 pct in January compared with a rise of 9 . 4 pct in December , the Reserve Bank said .
money-supply	Year - on - year total deposits rose 30 . 6 pct compared with a 26 . 3 pct increase in the December year and 34 . 5 pct rise a year ago period , it said in its weekly statistical release .
money-supply	Total deposits rose to 17 . 18 billion N . Z .
money-supply	Dlrs in January compared with 16 . 74 billion in December and 13 . 16 billion in January 1986 .
money-supply	MONEY MARKET MUTUAL FUNDS FALL 1 . 19 BILLION DLRS IN LATEST WEEK , ICI SAYS
money-supply	MONEY MARKET MUTUAL FUNDS FALL 1 . 19 BILLION DLRS IN LATEST WEEK , ICI SAYS
money-supply	26 - FEB - 1987 26 - FEB - 1987
money-supply	N . Y . BUSINESS LOANS FALL 222 MLN DLRS IN MARCH 18 WEEK , FED SAYS
money-supply	N . Y . BUSINESS LOANS FALL 222 MLN DLRS IN MARCH 18 WEEK , FED SAYS
money-supply	U . S . COMMERCIAL PAPER RISES 35 MLN DLRS IN MARCH 18 WEEK , FED SAYS
money-supply	U . S . COMMERCIAL PAPER RISES 35 MLN DLRS IN MARCH 18 WEEK , FED SAYS
money-supply	NEW YORK BUSINESS LOANS FALL 222 MLN DLRS Commercial and industrial loans on the books of the 10 major New York banks , excluding acceptances , fell 222 mln dlrs to 64 . 05 billion in the week ended March 18 , the Federal Reserve Bank of New York said .
money-supply	Including acceptances , loans fell 390 mln dlrs to 64 . 74 billion .
money-supply	Commercial paper outstanding nationally rose 35 mln dlrs to 339 . 04 billion .
money-supply	National business loan data are scheduled to be released on Friday .
money-supply	U . S . M - 1 MONEY SUPPLY RISES 1 . 2 BILLION DLRS IN MARCH 16 WEEK , FED SAYS
money-supply	U . S . M - 1 MONEY SUPPLY RISES 1 . 2 BILLION DLRS IN MARCH 16 WEEK , FED SAYS
money-supply	U . S . BANK DISCOUNT BORROWINGS AVERAGE 302 MLN DLRS A DAY IN MARCH 25 WEEK , FED SAYS
money-supply	U . S . BANK DISCOUNT BORROWINGS AVERAGE 302 MLN DLRS A DAY IN MARCH 25 WEEK , FED SAYS
money-supply	U . S . BANK NET FREE RESERVES 603 MLN DLRS IN TWO WEEKS TO MARCH 25 , FED SAYS
money-supply	U . S . BANK NET FREE RESERVES 603 MLN DLRS IN TWO WEEKS TO MARCH 25 , FED SAYS
money-supply	U . S . M - 1 MONEY SUPPLY RISES 1 . 2 BILLION DLR U . S . M - 1 money supply rose 1 . 2 billion dlrs to a seasonally adjusted 740 . 2 billion dlrs in the March 16 week , the Federal Reserve said .
money-supply	The previous week ' s M - 1 level was revised to 739 . 0 billion dlrs from 738 . 7 billion , while the four - week moving average of M - 1 rose to 739 . 1 billion dlrs from 738 . 3 billion .
money-supply	Economists polled by Reuters said that M - 1 would rise anywhere from 700 mln dlrs to three billion dlrs .
money-supply	The average forecast called for a 1 . 8 billion dlr increase .
money-supply	26 - FEB - 1987 26 - FEB - 1987
money-supply	FED DATA INDICATE POLICY LIKELY TO STAY ON HOLD Federal Reserve data released today indicate that there has been no policy change in recent weeks and that none is likely at next week ' s Federal Open Market Committee ( FOMC ) meeting , economists said .
money-supply	" The Fed continues to be accommodative in its provision of reserves , indicating that there has been no policy shift since the beginning of this year ," said Harold Nathan , economist at Wells Fargo Bank .
money-supply	" These numbers and other things suggest the FOMC will not change policy ," said Robert Brusca of Nikko Securities Co . " The Fed is sitting fairly pretty now .
money-supply	There ' s no real reason for it to change policy ," said Joseph Liro of S . G . Warburg and Co Inc . Liro said the economy is showing moderate growth and does not require immediate policy easing and the money aggregates may well end March at the bottom of their target ranges .
money-supply	All of the economists agreed that the Fed ' s major concern now is recent weakness in the dollar which early this week was heavily supported by central banks .
money-supply	They said fear of hurting the dollar will cause the Fed to be cautious in lowering interest rates further .
money-supply	Numbers released by the Fed today were all in line with expectations and similar to the data for most of this year .
money-supply	The Fed said that banks ' net free reserves averaged 603 mln dlrs in the two - week statement period that ended on Wednesday versus 749 mln dlrs in the previous period .
money-supply	In the single week to Wednesday , banks ' borrowings at the discount window , less extended credits , averaged 302 mln dlrs compared with 228 mln dlrs in the first week of the statement period .
money-supply	Meanwhile the Federal funds rate average edged up to 6 . 14 pct from 6 . 08 pct .
money-supply	The Fed ' s failure to add reserves in the market on Tuesday and Wednesday surprised some , but economists said the data released today suggest it had no real need to add reserves .
money-supply	The Fed ' s absence may be explained by the lack of any pressing need for it to supply reserves and by a desire to boost borrowings in the second week of the statement period to meet its borrowings target , said Liro of Warburg .
money-supply	Liro said the Fed probably is shooting for a two - week borrowings average of 300 - 325 mln dlrs .
money-supply	The borrowings actually averaged 265 mln dlrs in the latest statement period and that was up from 191 mln dlrs in the prior period .
money-supply	Brusca of Nikko agreed that the Fed probably is aiming for two - week average discount window borrowings of around 300 mln dlrs .
money-supply	He said that would correspond to a Federal funds rate of around 6 . 10 pct .
money-supply	It is nearly impossible for the Fed to hit any borrowings target since the demand for excess reserves is erratic , said Wells Fargo ' s Nathan .
money-supply	He said the Fed is focusing instead on the funds rate and is trying to keep it roughly within a six to 6 - 1 / 4 pct band .
money-supply	Upward funds rate pressure and a big reserve - adding need are anticipated for the statement period that began today .
money-supply	More Brusca believes the Fed will have to add 3 . 5 to four billion dlrs a day in reserves in this statement period .
money-supply	Liro puts the add need at around 3 . 9 billion dlrs .
money-supply	To partly address this requirement , many expect the Fed to add permanent reserves with effect next Thursday by offering to buy all maturities of Treasury bills on Wednesday .
money-supply	A similar coupon " pass " may be required later .
money-supply	There will be a greater demand for funds in this statement period because it includes the close of the quarter .
money-supply	Further upward pressure on the Federal funds rate may come from window dressing demand as the Japanese fiscal year ends on March 31 .
money-supply	26 - FEB - 1987 26 - FEB - 1987
money-supply	CANADIAN MONEY SUPPLY M - 1 FALLS 555 MLN DLRS IN WEEK , BANK OF CANADA SAID
money-supply	CANADIAN MONEY SUPPLY M - 1 FALLS 555 MLN DLRS IN WEEK , BANK OF CANADA SAID
money-supply	CANADIAN MONEY SUPPLY FALLS IN WEEK Canadian narrowly defined money supply M - 1 fell 555 mln dlrs to 32 . 42 billion dlrs in week ended March 18 , Bank of Canada said .
money-supply	M - 1 - A , which is M - 1 plus daily interest chequable and non - personal deposits , fell 559 mln dlrs to 74 . 86 billion dlrs and M - 2 , which is M - 1 - A plus other notice and personal fixed - term deposit fell 439 mln dlrs to 177 . 30 billion dlrs .
money-supply	M - 3 , which is non - personal fixed term deposits and foreign currency deposits of residents booked at chartered banks in Canada , fell 696 mln dlrs to 215 . 74 billion dlrs .
money-supply	MORE More
money-supply	DUTCH MONEY SUPPLY HARDLY CHANGED IN DECEMBER Dutch seasonally adjusted M2 money supply was hardly changed in December at 169 . 49 billion guilders compared to 169 . 56 billion in November , Central Bank data show .
money-supply	The figure was 2 . 6 pct higher than in December 1985 .
money-supply	In November , M2 fell 1 . 9 pct from its level in October and was 3 . 9 pct above its level a year before .
money-supply	Seasonally adjusted M1 money supply was also hardly changed at 97 . 21 billion guilders in December , compared to 97 . 05 billion guilders in November .
fuel	ROYAL DUTCH ( RD ) UNIT TO RAISE HEAVY FUEL PRICES Scallop Petroleum Corp , a subsidiary of Royal Dutch / Shell group , said it will raise contract prices for heavy fuel 50 cts to one dlr a barrel , effective tomorrow .
fuel	The increase brings the price for 0 . 5 pct sulphur fuel to 21 . 50 dlrs , up 50 cts , 0 . 7 pct sulphur to 21 dlrs , up 75 cts , 0 . 7 pct sulphur to 21 dlrs , up 75 cts , one pct sulphur to 20 . 25 dlrs , up 75 cts , two pct sulphur to 19 . 75 dlrs , up one dlr , 2 . 2 pct sulphur to 19 . 50 dlrs , up one dlr , 2 . 8 pct sulphur 19 dlrs , up one dlr , the company said .
fuel	Price for 0 . 3 pct sulphur was unchanged at 22 . 25 dlrs , it said .
fuel	GLOBAL LOWERS HEAVY FUELS PRICES Global Petroleum corp said today it lowered the posted cargo prices for number six fuel in the new york harbor 45 to 75 cts a barrel , effective today .
fuel	The decrease brings the prices for one pct sulphur to 20 . 75 dlrs , down 45 cts , two pct sulphur 20 . 10 dlrs , down 75 cts , 2 . 2 pct sulphur 19 . 75 dlrs , down 75 cts and 2 . 5 pct sulphur 19 . 50 dlrs , down 75 cts .
fuel	Prices for 0 . 3 pct and 0 . 5 pct sulphur remained unchanged at 22 . 50 and 21 . 85 dlrs , it said .
fuel	SINGAPORE OIL COMPANIES TO SET OWN PUMP PRICES Singapore oil companies can set their own petrol and diesel prices at the pump from today subject to ceilings determined by their individual wholesale prices , The Ministry of Trade and Industry said .
fuel	The ministry previously revised pump prices and announced the changes for the oil companies .
fuel	Lead content of petrol is further cut to 0 . 15 gm / litre from 0 . 4 gm from today .
fuel	Pump prices of the lower lead petrol grades are expected to be announced soon by the oil companies which have said wholesale prices are between 1 . 3 cents / litre to 3 . 2 cents higher than previous grades .
fuel	BANGLADESH TO IMPORT 60 , 000 TONS OF DIESEL FROM USSR Bangladesh will import 60 , 000 tons of high speed diesel oil from the Soviet Union under a barter agreement signed here last week , Bangladesh petroleum Corporation officials said .
fuel	The oil worth about 10 mln U . S . Dlrs will be shipped by December this year , they added but did not say what Bangladesh would sell in return to the Soviet Union .
fuel	FUEL STORAGE TANKS IN FRANCE BURST INTO FLAMES Two people were missing and six injured after tanks containing thousands of cubic metres of fuel burst into flames today at a Shell storage unit in Lyon , rescue workers said .
fuel	The blaze broke out with an explosion around 1330 local time ( 1130 GMT ).
fuel	Shell is a subsidiary of the Royal Dutch / Shell Group & lt ; RD >.
fuel	Some 200 firemen fought the flames at the gasoline storage unit at Edouard Herriot riverside port complex and appeared to have the blaze under control as night fell .
fuel	The entire southern section of Lyon was cordoned off .
fuel	The fire destroyed five giant tanks and threatened four others , the Shell spokesman said .
fuel	He said that the company estimated between six and seven thousand cubic metres of domestic fuel oil , gasoline and additives had been burned .
fuel	The total capacity of the burning tanks was over 10 , 000 cubic metres , but some had been empty when an explosion started today ' s fire , he added .
fuel	SINGAPORE PETROLEUM CO RAISES OIL PRODUCT POSTINGS Singapore Petroleum Co Pte Ltd said it will raise posted prices for its products from June 19 , by one cent / gallon for lpg , naphtha and gasoline , two cents for gas oil and by 60 cents / barrel for marine diesel oil .
fuel	New prices are - lpg 36 . 0 cents / gallon , chemical naphtha 47 , unleaded reformate 65 . 8 , 0 . 4 gm lead 97 octane 61 . 3 , 95 octane 59 . 3 , 92 octane 55 . 5 , 85 octane 49 . 5 , 0 . 125 gm lead 97 octane 64 . 3 , 92 octane 58 . 5 , 85 octane 52 . 5 , jet kerosene 51 . 5 , kerosene 50 . 5 , premium kerosene 54 . 5 , dual purpose kerosene 52 . 5 , 0 . 5 pct sulphur gas oil 52 . 0 , one pct sulphur 51 . 0 and marine diesel oil 21 . 20 dlrs / barrel .
fuel	TANZANIA RAISES FUEL PRICES , TAXES IN 1987 / 8 BUDGET The Tanzanian government , in its second annual budget since embarking on an economic recovery program inspired by the International Monetary Fund , announced increases in fuel prices and sales tax and higher levies on government services .
fuel	Finance Minister Cleopa Msuya said the government expected to spend 77 . 33 billion shillings in the financial year 1987 / 8 , 39 pct more than this year ' s estimate .
fuel	Revenue would provide 48 . 84 billion shillings , leaving a deficit of 28 . 49 billion to be financed through domestic and foreign loans .
fuel	This year ' s budget initially projected a deficit of only 3 . 35 billion shillings but in mid - year the government had to impose new taxes to keep the deficit roughly on target .
fuel	No figure for the final deficit was avaialble .
fuel	The budget gave civil servants a 20 pct pay rise with effect from July 1 , to compensate for inflation of more than 30 pct .
fuel	Msuya said regular petrol would go up 52 pct , with similar increases in the cost of premium and kerosene .
fuel	Diesel would rise by 75 pct .
fuel	The higher levies affect official transactions such as road tolls , vehicle transfers and various licence fees , he added .
fuel	TANZANIA RAISES FUEL PRICES , TAXES IN BUDGET The Tanzanian government , in its second annual budget since embarking on an economic recovery program inspired by the International Monetary Fund , announced increases in fuel prices and sales tax and higher levies on government services .
fuel	Finance Minister Cleopa Msuya said regular petrol would go up 52 pct , with similar increases in the cost of premium and kerosene .
fuel	Diesel would rise by 75 pct .
fuel	Msuya said the government expected to spend 77 . 33 billion shillings in the financial year 1987 / 8 , 39 pct more than this year ' s estimate .
fuel	Revenue would provide 48 . 84 billion shillings , leaving a deficit of 28 . 49 billion to be financed through domestic and foreign loans .
fuel	OIL MARKETS SHOW RESPECT FOR NEW OPEC ACCORD OPEC has shown itself to be in control of the world oil situation with its speed in hammering out a pact to limit crude oil output to 16 . 6 mln barrels per day ( bpd ) for the rest of 1987 , oil traders said .
fuel	They said market respect for the cartel has increased since it announced Saturday that it would cut fourth quarter output to 16 . 6 mln bpd from the 18 . 3 mln agreed in December .
fuel	" There are light oversupplies now , but OPEC ... Has ensured there will be no oversupplies in the fourth quarter , and is in effect putting pressure on end - users ," a European crude oil trader said .
fuel	In Tokyo , one oil analyst said , " There ' s no reason to expect a weak market from now on ."
fuel	A Japanese oil trader , also based in Tokyo , said , " We thought OPEC would have difficulty agreeing on fourth quarter production so the market will react very bullishly ."
fuel	Traders in Singapore said that while there has been only a slight increase so far in spot quotes for Dubai , a benchmark crude , they expect price increases over the next few days .
fuel	August Dubai was discussed in cautious early activity at around 17 . 35 dlrs , above Friday ' s 17 . 15 - 20 range , but still below the government selling price ( GSP ) of 17 . 42 .
fuel	Even prices of light Mideast grades , such as Qatar and Abu Dhabi crudes , are expected to improve from recent weak positions , 15 to 20 cents below their GSP ' s .
fuel	Singapore traders said sellers might now aim for GSP ' s at least .
fuel	They said that after initial jumps , they expect prices to stabilise and hover around GSPs for the next few months .
fuel	They said the Japanese oil market would be most affected and Japanese end - users would need to rebuild stocks for winter requirements before October .
fuel	Prices are most likely to rise in the fourth quarter on European and U . S . Stockbuilding for winter , they added .
fuel	" There ' s no doubt consumption will be higher than production by the fourth quarter and stocks are not that high ," said an international trader in Tokyo .
fuel	Another Tokyo trader was less bullish , " For sure there will be some shortage but it depends on how much they ( OPEC members ) cheat ."
fuel	A Singapore trade source said , " There is enough cheating and leakage in the OPEC sales system to convince traders there is no need to worry about shortages ."
fuel	Other traders said the questionable Iraqi production level , after Iraq ' s rejection of its assigned quota , was a bearish factor to be considered .
fuel	Traders also said end - users now would buy as much as possible on term contracts and buy spot only when the market cooled from its initial reaction to the OPEC agreement .
fuel	Spot product prices in Singapore were little changed in thin early discussions , with naphtha and middle distillates quiet on minimal buying interest .
fuel	Fuel oil products were steady to firm on light demand and tight prompt supplies , dealers said .
fuel	GLOBAL PETROLEUM & lt ; GNR > UPS HEAVY FUEL PRICES Global Petroleum Corp said it had raised the contract prices for heavy fuel oil from 25 cts to one dlr per barrel , effective today .
fuel	The company said 0 . 3 pct fuel oil is up one dlr a barrel to 22 . 25 dlrs a barrel .
fuel	They said 0 . 5 pct fuel oil is up by 50 cts to 21 . 95 dlrs a barrel .
fuel	Global raised one pct fuel oil by 35 cts to 20 . 25 dlrs a barrel .
fuel	The company raised 2 . 2 pct fuel by 25 cts to 19 . 50 dlrs a barrel .
fuel	Global raised 2 . 5 pct fuel oil by 45 cts to 19 . 45 dlrs a barrel .
fuel	GLOBAL RAISES HEAVY FUELS PRICES Global Petroleum Corp said today it raised its posted prices for numbers six fuel cargoes in the new york harbor 70 cts to 1 . 60 dlrs per barrel , depending on grade .
fuel	Effective today , the new prices are : 0 . 3 pct sulphur 22 . 50 dlrs , up 1 . 25 ; 0 . 5 pct sulphur 21 . 85 dlrs , up 1 . 60 ; one pct sulphur 20 . 10 dlrs , up 70 cts ; two pct sulphur 19 . 85 , up 75 cts ; 2 . 2 pct sulphur 19 . 25 dlrs , up 90 cts ; 2 . 5 pct sulphur 18 . 80 dlrs , up 1 . 20 , the company said .
fuel	ROYAL DUTCH & lt ; RD > UNIT RAISES HEAVY FUEL PRICES Scallop Petroleum Corp , a subsidiary of Royal Dutch / Shell group , said today it raised contract prices for heavy fuel 25 cts to 1 . 75 dlrs a barrel , effective today .
fuel	The increase brings the price for 0 . 3 pct sulphur to 22 . 50 dlrs , up 1 . 75 , 0 . 5 pct sulphur to 21 . 50 dlrs , up 1 . 50 , 0 . 7 pct sulphur to 20 . 25 dlrs , up 75 cts , one pct sulphur to 19 . 50 dlrs , up 25 cts , two pct sulphur to 18 . 75 dlrs , up 75 cts , 2 . 2 pct sulphur to 18 . 50 dlrs , up 75 cts , 2 . 8 pct sulphur to 18 . 00 dlrs , up 75 cts .
fuel	ATLANTIC TO RAISE HIGH SULPHUR FUEL PRICES Atlantic Fuels Marketing Corp said today it will raise the posted cargo prices for high sulphur fuels in New York Harbor 50 to 75 cts per barrel , effective April two .
fuel	The increase brings the prices for two pct sulphur to 19 . 25 dlrs , up 50 cts , 2 . 2 pct sulphur to 18 . 75 dlrs , up 50 cts , 2 . 5 pct sulphur to 18 . 50 dlrs , up 50 cts , 2 . 8 pct sulphur to 18 . 25 dlrs , up 75 cts , the company said .
fuel	Posted prices for 0 . 3 pct and one pct low sulphur fuels were unchanged at 22 and 20 dlrs , it said .
fuel	API SAYS DISTILLATE , GASOLINE STOCKS UP IN WEEK Distillate fuel stocks held in primary storage rose by 628 , 000 barrels in the week ended April three to 106 . 96 mln barrels from a revised 106 . 33 mln the previous week , the American Petroleum Institute said .
fuel	In its weekly statistical bulletin , the oil industry trade group said gasoline stocks rose 2 . 29 mln barrels to 247 . 91 mln barrels from a revised 245 . 62 mln , and crude oil stocks were up 8 . 52 mln barrels to 337 . 73 mln from a revised 329 . 21 mln .
fuel	It said residual fuel stocks rose 28 , 000 barrels to 38 . 25 mln from a revised 37 . 98 mln barrels .
fuel	API said refinery runs in the week rose to 12 . 54 mln barrels per day from 12 . 21 mln and refinery use of operating capacity was 80 . 4 pct , up from 78 . 3 pct .
fuel	Crude oil imports in the week fell to 3 . 40 mln bpd from a revised 3 . 60 mln , API added .
fuel	TEXAS EASTERN & lt ; TET > BUYS PETROLEUM TERMINAL Texas Eastern Corp said it has completed the purchase of an idle petroleum products terminal near Norris City , Ill ., from & lt ; Growmark Inc > for undisclosed terms and will reopen it in September after remodeling .
fuel	The company said the terminal will handle leaded and unleaded regular gasolines , number two fuel oil , ethanol and natural gasoline .
fuel	EIA SAYS DISTILLATE , GAS STOCKS OFF IN WEEK Distillate fuel stocks held in primary storage fell by 3 . 4 mln barrels in the week ended Feb 27 to 128 . 4 mln barrels , the Energy Information Administration ( EIA ) said .
fuel	In its weekly petroleum status report , the Department of Energy agency said gasoline stocks were off 100 , 000 barrels in the week to 251 . 5 mln barrels and refinery crude oil stocks were up 3 . 2 mln barrels to 333 . 0 mln .
fuel	The EIA said residual fuel stocks fell 2 . 2 mln barrels to 37 . 9 mln barrels and crude oil stocks in the Strategic Petroleum Reserve ( SPR ) were up 700 , 000 barrels to 516 . 5 mln .
fuel	The total of all crude , refined product and SPR stocks were unchanged at 1 , 575 . 1 mln barrels , it said .
fuel	ECUADOR ADOPTS AUSTERITY MEASURES AFTER QUAKE OPEC member Ecuador adopted austerity measures to conserve fuel after oil production was paralyzed by a strong earthquake .
fuel	Energy and Mines Minister Javier Espinosa announced on television the country would cut domestic fuel sales by 30 pct .
fuel	A ministry statement had earlier announced indefinite suspension of crude oil exports , declaring force majeure .
fuel	Deputy Energy Minister Fernando Santos Alvite told a television interviewer that it could possibly take more than a month to repair Ecuador ' s main pipeline linking Amazon basin oil fields to the Pacific Ocean coast .
fuel	The quake on Thursday , which registered six on the 12 - point Mercalli scale , killed at least six people and was centred near the Reventador volcano about 90 km ( 50 miles ) east of Quito .
fuel	Ecuador had recently been pumping 260 , 000 barrels per day .
fuel	The government ' s austerity measures ban the sale of aviation fuel to foreign airliners on international routes and no fuel will be available for ships owned by foreign lines .
fuel	Ecuador also banned the sale of petrol on weekends and holidays and limited sales on weekdays , an Energy and Mines Ministry communique said .
fuel	RECENT U . S . OIL DEMAND UP 1 . 9 PCT FROM YEAR AGO U . S . oil demand as measured by products supplied rose 1 . 9 pct in the four weeks ended March six to 16 . 39 mln barrels per day from 16 . 08 mln in the same period a year ago , the Energy Information Administration ( EIA ) said .
fuel	In its weekly petroleum status report , the Energy Department agency said distillate demand was down 2 . 2 pct in the period to 3 . 33 mln bpd from 3 . 40 mln a year earlier .
fuel	Gasoline demand averaged 6 . 75 mln bpd , up 3 . 3 pct from 6 . 53 mln last year , while residual fuel demand was 1 . 40 mln bpd , off 2 . 7 pct from 1 . 43 mln , the EIA said .
fuel	Domestic crude oil production was estimated at 8 . 38 mln bpd , down 8 . 5 pct from 9 . 15 mln a year ago , and gross daily crude imports ( excluding those for the SPR ) averaged 3 . 67 mln bpd , up 23 pct from 2 . 97 mln , the EIA said .
fuel	Refinery crude runs in the four weeks were 12 . 05 mln bpd , up 1 . 5 pct from 11 . 87 mln a year earlier , it said .
fuel	Year - to - date figures will not become available until March 26 when EIA ' s Petroleum Supply Monthly data for January 1987 becomes available , the agency said .
fuel	PACIFIC RESOURCES & lt ; PRI > INSTALLS OIL MOORING Pacific Resources Inc said it has installed a CALM ( Catenary Anchor Leg Mooring ) single - point mooring terminal off the southwest coast of Oahu at its Hawaiian Independent Refinery at a cost of 3 . 5 mln dlrs .
fuel	The system transfers crude and fuel oils from tankers to the refinery ' s tank farm and carries refined products to ships for export , PRI said .
fuel	Company chairman Robert G . Reed said the new mooring system will permit 24 - hour service in most kinds of weather and will reduce ship turnaround time .
fuel	He said the mooring is the first of its kind in the U . S .
fuel	The new system can accomodate vessels up to 150 , 000 deadweight tons , or one mln barrels of cargo , PRI said .
fuel	SENATE COMMITTEE MAY LOOK AT FUEL TAX PROPOSALS The Senate budget committee sits down tomorrow to start drafting a fiscal 1988 budget , with the budget writers expected to look at several proposals for fuel taxes and other tax options to cut the budget .
fuel	In a briefing book for the drafting sessions , a number of revenue raising tax options are proposed , including a five dlrs a barrel fee on domestic and imported oil , a fee just on imported oil , and a broad based tax on domestic energy consumption based on five pct of value .
fuel	Other proposals include various excise taxes and combinations of import surcharges or tariffs , including a 10 pct import across the board import surcharge that would raise 22 billion dlrs next year alone , more in later years .
fuel	The committee , however , will only include revenue numbers in its proposed budget with the actual revenue decisions left to the House and Senate tax - writing committees .
fuel	The committee will draft a budget which its chairman , Sen Lawton Chiles , a Florida Democrat , said he hopes would raise at least 18 billion dlrs in revenues , or about half the minimum 36 billion dlr deficit reduction he has in mind .
fuel	The House Budget Committee also plans to start drafting a separate budget plan later this week , which would have to be reconciled with the Senate version .
fuel	The final budget would be the fiscal 1988 spending and revenue blueprint .
fuel	BELCHER TO RAISE HEAVY FUELS PRICES The Belcher Co of New York , a subsidiary of Coastal Corp & lt ; CGP >, said it will raise the posted prices for number six fuel in New York 25 cts to 1 . 75 dlrs a barrel , depending on grades .
fuel	Effective March 19 , the new prices are 0 . 3 pct sulphur 22 . 50 dlrs , up one dlr , 0 . 5 pct sulphur 21 . 75 dlrs , up 1 . 75 dlrs , 0 . 7 pct sulphur 21 dlrs , up 1 . 25 dlrs .
fuel	One pct sulphur 20 . 25 dlrs , up one dlr , two pct sulphur 18 . 25 dlrs , up 25 cts , 2 . 2 pct sulphur 18 dlrs , up 25 cts , 2 . 5 pct sulphur 17 . 75 dlrs , up 30 cts , and 2 . 8 pct sulphur 17 . 50 dlrs , up 50 cts .
fuel	CALTEX RAISES SINGAPORE OIL PRODUCT PRICES Caltex Petroleum Corp , a joint venture between Chevron Corp & lt ; CHV > and Texaco Inc & lt ; TX >, said it raised posted prices for several petroleum products in Singapore , effective today .
fuel	The company said its naphtha posting is up three cts a gallon to 43 cts .
fuel	It said it is raising jet and kerosene postings 2 . 5 cts , bringing jet to 52 . 5 cts and kerosene to 51 . 5 cts .
fuel	Diesel grades are up two cts , Caltex said , bringing both diesel gas oil ( one pct sulfur ) and 52 - 57 D . I .
fuel	( 55 cetane ) to 52 cts a gallon , and diesel gas oil ( 0 . 5 pct ) to 52 cts .
fuel	The company said it is increasing medium and heavy fuel oil postings by one dlr a barrel .
fuel	Medium is now 15 . 50 dlrs a barrel , and heavy fuel is 14 . 75 dlrs .
fuel	NATURAL GAS SEEN RECAPTURING SOME MARKET SHARE Higher crude oil prices will raise demand for natural gas , helping it to reclaim market share lost to heavy oil when prices plunged in 1986 , analysts said .
fuel	The analysts said that these efforts will be most successful in the industrial sectors of the economy with large and growing energy requirements .
fuel	" Natural gas stands a good chance to recapture the share of oil supplied to electric utilities that it lost to the residual fuel industry last year ," Michael Smolinski , an energy economist with Data Resources Inc , told Reuters .
fuel	An estimated 200 , 000 barrels per day of residual fuel went into the utilities market at the expense of natural gas last year when world oil prices plunged , Smolinski said .
fuel	Assuming oil prices hold above 15 dlrs a barrel , national average gas prices delivered to the utilities at a projected 2 . 10 to 2 . 25 dlrs per mln Btu would be very competitive , Michael German , vice president of economic analysis at American Gas Association said .
fuel	The average delivered prices at the end of January were 2 . 10 dlrs per mln Btu , compared with 3 . 26 dlrs a year ago .
fuel	" We expect natural gas to regain 250 to 400 billion cubic feet ( of demand ) in the overall energy market in the second and third quarter ( 1987 )," he said .
fuel	In addition to price competitiveness , availability will be an important factor persuading energy users to switch to gas , Frank Spadine , senior energy economist with Bankers Trust Corp . in New York noted .
fuel	Spadine said the mild winter in many parts of the North American continent has led to a build up of gas inventories and less would be necessary to replenish underground storage this spring freeing gas for spot sales .
fuel	These forecasts develop a strong counterpoint to the fears that natural gas suplies would be tight and prices significantly higher given a sharp decline in drilling last year .
fuel	AGA ' s German contended that despite the drilling decline , much of U . S . proved reserves could be brought to production quickly through developments such as the infill drilling which permits more wells to be drilled in proved reserve basins .
fuel	Citing recent EIA statistics , German said , the gas surplus was likely to contract from three trillion cubic feet in 1986 to two trillion cubic feet in 1987 , but the surplus would not go away until 1990 .
fuel	Smolinski of Data Resources agreed that the surplus would persist until 1990 .
fuel	While gas supplies may tighten in certain consuming areas , notably in California and in the Northeast U . S ., an overall shortfall appeared remote .