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Morning round-up, Thursday October 31


* China’s Zhengzhou commodity exchange is to accelerate preparations to launch of futures in the likes of soda ash, coffee and peanuts.


The exchange will also speed up the listing of purified terephthalic acid (PTA), methanol and rapeseed meal options, its deputy general manager, Wang Xiaoming, said.



* Vietnam’s domestic coffee prices continued to edge higher this week on limited supplies, while the recent heavy rains in the country’s largest coffee-growing area would likely do no harm to the crops, Reuters reported.


Farmers in the Central Highlands, Vietnam’s largest coffee-growing area, sold coffee at 31,800-32,600 dong ($1.37-$1.41) per kilogramme on Thursday, slightly up from 31,000-31,500 dong last week.



* Cargo surveyors revealed a rise in Malaysia’s palm oil exports this month, from September.


ITS put the increase at 10.6%, SGS at 14.6% and AmSpec Agri at 17.5%.



* President Donald Trump’s biofuels plan for 2020 came under attack from the oil and corn industries at a public hearing held on Wednesday by the US Environmental Protection Agency.


The plan, which will increase the amount of corn-based ethanol some oil refineries need to add to their gasoline by around 15bn gallons, was criticized by the corn industry for not going far enough to help biofuel producers.


The oil industry said that the plan punished refineries already complying with current biofuel laws.



* Egypt’s supply ministry said on Wednesday that the country has enough wheat in its reserves to last around 4.8 months.


It also revealed that reserves of vegetable oil were enough for 3.8 months, rice was enough for three months and sugar for six months.

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