USDA COMMENTS ON EXPORT SALES REPORT	 WASHINGTON, March 26 -	 Corn sales of 2,806,300 tonnes in  the week ended March 19 were the highest level since  mid-November, 1979, the U.S. Agriculture Department said.  The dep artment said the USSR dominated the week's activity  with purchases of 1.4 mln tonnes (which were earlier reported  under the daily reporting system). Other large increaes were  posted for Japan and unknown destinations, it said.  Taiwan purchased 296,300 tonnes for the 1986/87 season and  170,000 tonnes for the 1987/88 season, it said.  Wheat sales of 317,200 tonnes for the current season and  125,000 tonnes for the 1987/88 season were down about one-third  from the preceding week and the four-week average.  Wheat sales to China of 60,000 tonnes were switched from  1986/87 to the 1987/88 season, it noted.  Soybean sales of 483,100 tonnes were 11 pct above the prior  week and two-thirds above the four-week average.  Japan, the Netherlands, Mexico and Portugal were the main  buyers, the department said.  Soybean cake and meal sales of 289,400 tonnes were  two-thirds above the previous week and the largest of the  marketing year, with Venezuela the dominant purchaser.  Sales activity in soybean oil resulted in decreases of  4,400 tonnes, as reductions for unknown destinations more than  offset increases for Canada, the Dominican Republic and Panama,  the department said.  Cotton sales of 57,900 running bales -- 43,800 bales for  the current year and 14,200 bales for the 1987/88 season --  were off 25 pct from the previous week and 50 pct from the  four-week average.  Turkey, Thailand, South Korea and Canada were the major  buyers for the current season, while Thailand, Britain and  Japan were the major purchasers from the upcoming season, the  department said.  Sorghum sales of 178,800 tonnes were two-thirds above the  prior week and 75 pct over the four-week average.  Venezuela was the leading buyer it said.  Sales of 41,800 tonnes of barley were 10 times the previous  week and 10 pct greater than  the four-week average. Israel,  Cyprus and Saudi Arabia were the main buyers, it said.  Reuter 
 CANAMAX, PACIFIC TRANS-OCEAN APPROVE PRODUCTION	 TORONTO, March 26 -	 & lt;Canamax Resources Inc > and & lt;Pacific  Trans-Ocean Resources Ltd > said they conditionally approved  starting production at their jointly owned Ketza River gold  deposit in the Yukon after a study recommended the move.  They said production was conditional on approval of a water  license and arrangement of appropriate financing. They  estimated development costs for the mine and mill would total  21.1 mln dlrs, including three mln dlrs of working capital.  The feasibility study anticipated gold production of 49,600  ounces a year at a cost of 129 Canadian dlrs a short ton, they  said.  Canamax and Pacific Trans-Ocean said the project would  yield a 40 pct after-tax real rate of return at a gold price of  400 U.S. dlrs an ounce.  They said they would mine 460,000 tonnes of proven and  probable mineable reserves of oxide ore grading 0.45 ounce gold  ton at a yearly rate of 112,000 tonnes for a mine life of 4.25  years.  Possible reserves of 75,000 tonnes grading 0.38 ounce gold  ton at the break zone would extend mine life by a year, with  considerable potential for development of further oxide ore  reserves at the deposit, they said.  Reuter 
 ICCO COUNCIL AGREES COCOA BUFFER STOCK RULES	 LONDON, March 27 -	 The International Cocoa Organization  (ICCO) Council reached agreement on rules to govern its buffer  stock, the device it uses to keep cocoa off the market to  stabilise prices, ICCO delegates said.  The date on which the new rules will take effect has not  been decided but delegates said they expected them to come into  force early next week, after which the buffer stock manager can  begin buying or selling cocoa.  Since prices are below the "may-buy" level of 1,655 Special  Drawing Rights a tonne set in the cocoa pact, the manager is  likely to buy cocoa sooon to support the market, they said.  Delegates and traders said they expected the manager,  Juergen Plambeck, to intervene in the market within three weeks  of the pact coming into force.  The rules permit him to buy and sell cocoa from origins or  the second hand market on an offer system, not by means of a  posted price as in the previous cocoa accord.  The cocoa will be priced according to a fixed set of  differentials, ranging from 137 stg for most expensive Ghana  cocoa to zero for Malaysian cocoa.  Purchases from non-members, such as Malaysia, will be  limited to 15 pct of the total stock and those on any one day  should be limited to 40 pct each in nearby, intermediate and  forward positions.  The council meeting, which is expected to conclude two  weeks of sessions involving various working groups and the  council itself, was continuing, the delegates said.  The current cocoa agreement came into force on January 20  during a previous meeting of the council which was unable to  agree on the rules to implement buffer stock operations.  REUTER 
 COCOA BUFFER DIFFERENTIALS DETAILED	 LONDON, March 27 -	 The International Cocoa Organization  (ICCO) council agreed standard price differentials for  different origin cocoas to form part of the buffer stock buying  and selling procedure, consumer delegates said.  The buffer stock manager will accept offers for different  origin cocoas according to a sliding scale of price  differentials, under which Ghana cocoa will be pegged at a 137  stg premium to Malaysian.  Thus, if the buffer stock manager was buying cocoa based on  a Malaysian price of 1,200 stg a tonne, he would accept Ghana  offers up to 1,337 stg.  Differentials were fixed as follows,  Country       Differential stg/tonne  Malaysia           0  Brazil            55  Ivory Coast       67  Cameroun          77  Nigeria          120  Togo             130  Ghana            137  Nigeria's differential is on "landed weight" terms. Shipping  weight terms will be accepted at a 15 stg discount to this  rate.  Reuter 
 EC COMMISSIONER WELCOMES COCOA ACCORD	 BRUSSELS, March 30 -	 The new Internation al Cocoa Agreement  should lead to a stabilisation of prices, both benefitting  producer countries and promoting an equilibrium in  international economic relations, European Community  Development Commissioner Lorenzo Natali said.  He said in a statement welcoming the agreement on buffer  stock rules reached last week in London that it resulted in  large part from initiatives taken by the EC Commission after  consumers and producers had reached deadlock in initial  negotiations.  REUTER 
 MORE GOLD DETECTED AT DOYON MINE	 TORONTO, March 3 -	 Lac Minerals Ltd and Cambior Inc said  they completed a second hole at their jointly owned Doyon mine  in Quebec, which showed two significant gold intersections.  One intersection graded 0.33 ounce gold per short ton over  44 feet at depth of 1,411 feet, while the other graded 0.22  ounce gold per ton over 23 feet at 2,064 feet, the companies  said. The hole is 460 feet east of the previously reported  first hole.  Another hole is being drilled 460 feet to the west of the  first drill hole and results are expected in late March or  early April.  Reuter 
 U.S. SEES NO NEW COFFEE AGREEMENT TALKS SOON	 WASHINGTON, March 30 -	 The United States does not expect  the executive board meeting of the International Coffee  Organization, ICO, to call for a new round of negotiations on  reinstating coffee quotas, a U.S. government official said.  The official, a member of the U.S. delegation to ICO talks  earlier this year, said no new coffee agreement talks are  expected because there is no indication the negotiating  positions of major producers and consumers have changed.  The U.S. still demands, as a condition of reimposition of  coffee quotas, that "objective criteria" be set for  establishing quotas, said the U.S. official, who asked not to  be identified. Brazil, the major producer, insists on quotas  based on a traditional formula.  The U.S. remains open to a negotiating meeting but only if  some new flexibility is apparent from major countries, the  official said.  The ICO executive board meets tomorrow in London.  Reuter 
 CITY RESOURCES TO SELL GOLD PROPERTY STAKE	 VANCOUVER, March 30 -	 City Resources Ltd said it has agreed  in principle to sell a 50 pct interest in a group of mineral  properties in the southwest Pacific to a buyer it did not name  for 30 mln Canadian dlrs.  The company said a preliminary estimate of the geological  resources of one of the properties to a depth of 200 meters  indicates a potential of 1.2 mln ounces of gold, and by the  middle of 1987 it expects to establish proven ore reserves  containing at least 500,000 ounces of gold. Mining could start  in 1988, subject to a satisfactory feasibility study.  The company said completion of the transaction is subject  to regulatory and shareholder approvals.  City Resources is controlled by City Resources Ltd of  Australia.  Reuter 
 LOUISIANA WEEKLY CROP REPORT	 Alexandria, March 30 -	 The Louisiana weekly USDA state crop  report said there were 2.4 days suitable for fieldwork.  Soil moisture supplies rated 41 pct adequate and 59 pct  surplus.  Winter Wheat - fair to good condition. eight pct headed vs  27 pct a year ago and 17 pct average.  Corn - eight pct planted vs 64 pct a year ago and 51 pct  average. two pct emerged vs 45 y/a and 23 avg.  Spring Plowing - seventeen pct completed vs 66 pct a year  ago and 48 pct avg.  Reuter 
 STEEL TECHNOLOGIES & lt;STTX > , MITSUI SET VENTURE	 LOUISVILLE, March 30 -	 Steel Technologies Inc said it  agreed to form a 50-50 joint venture with & lt;Mitsui and Co Ltd >   to make steel products.  The venture, called Mi-Tech Steel Inc, will be set up to  serve Japanese and domestic automobile and appliance parts  makers in the U.S.  A plant will be located near Murfreesboro, Tenn., and  production is expected to begin in the fall 1987, the company  said.    Reuter 
 USX & lt;X > UNIT RAISES SOME STEEL PRICES	 PITTSBURGH, March 30 -	 USX Corp said its USS steelmaking  division increased prices on plate and H-pile products.  Effective with May three shipments, it said the price base  on carbon and high-strength low-alloy, or HSLA, H-piles will  increase by 1-1/2 cts per pound.  Effective with shipments beginning June 28, the price on  carbon, HSLA, and alloy plates will increase by 1-1/4 cts per  pound. Strip mill plate prices will rise by 3/4 cts per pound.  It said the price increases on plate and H-pile products  will apply to all shipments from USS plants.  Reuter 
 KANSAS EXCHANGE HITS CFTC POSITION LIMIT PLAN	 WASHINGTON, March 31 -	 The Kansas City Board of Trade,  KCBT, has asked federal futures regulators to modify a proposal  to raise the Chicago Board of Trade's, CBT, speculative  position limits on wheat futures contracts, saying the plan  would put the the Kansas exchange "at a serious competitive  disadvantage."  The Commodity Futures Trading Commission, CFTC, last month  proposed raising CBT wheat speculative limits to 1,200  contracts all months net from 600 contracts, and to 900  contracts for any single month from 600 contracts.  At the same time, CFTC proposed leaving KCBT's wheat  speculative position limits unchanged.  "Higher limits for CBT wheat than for KCBT wheat would  significantly impair the KCBT's ability to compete with the CBT  for speculative interest," Michael Braude, president of the  Kansas exchange, said in a letter to CFTC.  A CFTC spokesman said the commission took into account open  interest affected by existing speculative limits in proposing  to raise CBT's limits.  KCBT said the CFTC proposal would reduce hedging  efficiency, constrain growth of intermarket spreading and of  the exchange's wheat options contract and impair its ability to  attract large speculators.  The Kansas City exchange asked the commission to amend its  proposal to change the limits for KCBT wheat to the exact same  bushel amount as specified for CBT wheat.  CFTC will consider public comments on the proposal until  June 3.  Reuter 
 TUNISIA TENDER EXPECTED FOR 100,000 TONNES WHEAT	 PARIS, March 31 -	 Tunisia is expected to tender shortly for  100,000 tonnes of soft wheat for shipment between April and  June, covered by COFACE export credits, trade sources said.  Over 300,000 tonnes of French soft wheat have been sold to  Tunisia since the beginning of the 1986/87 campaign, of which  225,000 to 250,000 tonnes have already been shipped, they said.  Reuter 
 NIGERIA, GUINEA SET UP IRON ORE FIRM WITH LIBERIA	 LAGOS, March 3 -	 Nigeria and Guinea agreed to set up a new  company with Liberia to carry out the 14-year-old  Mifergui-Nimba iron ore project, an official communique said.  The communique was issued after two days of talks here  between Guinean natural resources minister Ousmane Sylla and  Nigerian minister of mines and power Bunu Sheriff Musa.  Originally, Guinea held 50 pct in the project and Nigeria  16.2 pct with firms from several other countries also involved,  but the project ran into problems over funding and the slump in  world iron ore markets.  Musa said Liberia was invited to join and its share will be  decided after a project feasibility study. This would be  completed in May after which finance will be sought. Officials  said the study will be undertaken with the help of the World  Bank, which is also expected to give financial support.  Production, originally estimated at 15 mln tonnes a year,  will be 12 mln initially and is expected to begin in early  1990.  On an agreement between the two countries to prospect for  uranium in Guinea, the communique said Musa and Sylla agreed  that because of poor market conditions, it would be extended to  cover exploration for gold, diamonds, cobalt, nickel and  silver.  Reuter 
 U.S. 1987 SUGARBEET ACREAGE ESTIMATED BY  USDA AT 1,249,000 ACRES VS 1,232,500 IN 1986	(NO DATE)	(NO TEXT)
 ECHO BAY HAS NEVADA GOLD DISCOVERY	 EDMONTON, Alberta, March 31 -	 Echo Bay Mines Ltd said it  discovered a gold deposit in the Cove area near its McCoy gold  mine in Nevada.  Echo Bay said it encountered gold in 39 of 42 drill holes  at Cove. It said seven holes averaged 0.185 ounce gold a short  ton and 1.8 ounces of silver, with the seven intersections  averaging 118 feet in thickness beneath 25 feet of overburden.  The discovery is on the McCoy property, one mile northeast  of the McCoy open pit, heap leach gold mine, which is expected  to produce about 85,000 ounces of gold this year, Echo Bay  said.  Reuter 
 ECHO BAY & lt;ECO > HAS NEVADA GOLD DISCOVERY	 EDMONTON, Alberta, March 31 -	 Echo Bay Mines Ltd said it  discovered a gold deposit in the Cove area near its McCoy gold  mine in Nevada.  Echo Bay said it encountered gold in 39 of 42 drill holes  at Cove. It said seven holes averaged 0.185 ounce gold a short  ton and 1.8 ounces of silver, with the seven intersections  averaging 118 feet in thickness beneath 25 feet of overburden.  The discovery is on the McCoy property, one mile northeast  of the McCoy open pit, heap leach gold mine, which is expected  to produce about 85,000 ounces of gold this year, Echo Bay  said.  Reuter 
 CCC CREDITS FOR MEXICO SWITCHED TO WHEAT--USDA	 WASHINGTON, March 31 -	 The Commodity Credit Corporation  (CCC) has switched 10 mln dlrs in credit guarantees to Mexico  to cover purchases of U.S. wheat, the U.S. Agriculture  Department said.  The credit guarantees were previously earmarked for sales  of U.S. dry edible beans and rice, it said.  The action reduces the guarantee lines previously  authorized of dry edible beans to by five mln dlrs to 45 mln  dlrs and for rice from five mln to zero and increases coverage  for wheat sales from five mln to 15 mln dlrs.  Reuter 
 U.S. STEELMAKERS, UNION SEEK RENEWED IMPORT CURB	 WASHINGTON, March 31 -	 The U.S. specialty steel industry  and its union said they will seek a three-year extension of  President Reagan's import restraint program to give the  industry more time to restore competitiveness.  They said they will tell the U.S. International Trade  Commission (ITC) Thursday that "termination will have disastrous  consequences for American companies and workers."  The current four-year voluntary program reached with  foreign exporters ends this summer and the ITC must advise  President Reagan on the economic effect of its termination.  The Specialty Steel Industry of the United States and the  United Steelworkers Union said in statement that imported steel  was still flooding the domestic market and continued curbs were  needed to restore the industry's health.  Reagan is to decide by July 19 whether to renew the  restraint program.  Reuter 
 EGYPT TENDERS THURSDAY FOR OPTIONAL ORIGIN CORN	 KANSAS CITY, March 31 -	 Egypt will tender Thursday for  200,000 tonnes of optional origin corn, U.S. number two or  equivalent, 14.5 pct moisture, for late April shipment, private  export sources said.  Shipment will be from the Gulf or Great Lakes if U.S.  origin, they said.  Reuter 
 U.K. INTERVENTION FEED WHEAT SOLD TO HOME MARKET	 LONDON, April 1 -	 A total of 126,031 tonnes of U.K.  Intervention feed wheat was sold to the home market at this  week's tender, provisional results show, the Home Grown Cereals  Authority (HGCA), said.  Actual prices were not reported but the wheat was sold at,  or above, the March intervention price of 119.17 stg per tonne.  Grain traders sought to buy about 340,000 tonnes.  REUTER 
 PRECIOUS METALS CLIMATE IMPROVING, SAYS MONTAGU	 LONDON, April 1 -	 The climate for precious metals is  improving with prices benefiting from renewed inflation fears  and the switching of funds from dollar and stock markets,  brokers Samuel Montagu and Co Ltd said.  Silver prices in March gained some 15 pct in dlr terms due  to a weak dollar and silver is felt to be fairly cheap relative  to gold, Montagu said in its monthly silver newsletter. In  March the gold/silver ratio narrowed from 74 to less than 67.  The supply/demand position has improved in the past year,  and despite a silver market surplus, the quantity of silver is  modest enough to be absorbed by investors, it added.  The report said the firmness in oil prices was likely to  continue in the short term.  A period of consolidation might be necessary before prices  attempted to move significantly higher,it said, but so long as  the dollar remains under pressure then the outlook for silver  was positive.  However silver was less likely to continue to outpace the  other metals by such a margin, Montagu said.  REUTER 
 THYSSEN SEES UP TO 20 PCT LOWER SALES IN 1986/87	 HANOVER, April 1 -	 Thyssen AG & lt;THYH.F > expects a fall of  between 15 and 20 pct in consolidated turnover in 1986/87,  chief executive Dieter Spethmann said.  He told journalists the exact decline would depend on  dollar developments. The Thyssen group did over 50 pct of its  business outside West Germany.  Spethmann made no comment on 1986/87 group earnings. World  group net profit fell to 370.1 mln marks in the year ended  September 1986 from 472.4 mln a year earlier on group sales  which fell to 40.00 billion marks from a previous 44.32  billion.  Last week Spethmann told the annual meeting Thyssen  expected to post a good profit in 1986/87 despite expected  losses in the mass steel-making operations this year.  Spethmann said engineering turnover would not be lower this  year, but lower steel prices would result in a drop in steel  turnover and sales volume. This would also affect Thyssen's  trading operations, he said.  Spethmann also categorically denied a magazine article  published this week which spoke of a dispute between him and  Heinz Kriwet, management board chairman of Thyssen Stahl AG,  over planned job cuts in steel plants in the Ruhr area.  Reuter 
 & lt;COMINCO LTD > LOWERS PRICE OF LEAD METAL	 VANCOUVER, British Columbia, April 1 -	 Cominco Ltd said its  Cominco metals division lowered the price for lead metal sold  in Canada by 1/2 Canadian cts per pound to 34 Canadian cts per  pound.    Reuter 
 COMINCO LTD CUTS LEAD PRICE IN CANADA	 Vancouver, British Columbia, April 1 -	 Cominco Ltd said its  Cominco metals division lowered the price for lead metal sold  in Canada by 1/2 Canadian cts per pound to 34 Canadian cts per  pound.  Reuter 
 SHULTZ USSR TRIP FUELS TALK OF EEP WHEAT OFFER	 WASHINGTON, April 1 -	 Speculation the United States will  offer subsidized wheat to the Soviet Union appears to have  reached a new level of intensity in the run-up to Secretary of  State George Shultz' visit later this month to Moscow.  Rumors of an impending deal have coursed through wheat  markets since officials from the two countries held their  customary, semi-annual grain talks in February. Moscow's  decision at that time to reenter the U.S. corn market  strengthened the perception of warming farm trade prospects.  Shultz is set to arrive in Moscow April 13.  Shultz' statement two weeks ago that he would not stand in  the way of a wheat subsidy offer under the Export Enhancement  Program, EEP, coupled with the announcement of his visit to  Moscow, was interpreted by many grain trade representatives  here as a clear signal that the Reagan administration was  preparing an offer.  Administration officials -- in and out of the U.S.  Agriculture Department -- have been extremely tight-lipped  about the prospects of a subsidy offer.  But USDA officials for the most part have abandoned the  contention the proposal is dormant, suggesting that an offer,  while not a "done deal," is a live possibility.  Prominent U.S. grain trade representatives -- many of whom  asked not to be identified -- continue to maintain that an  offer to subsidize four mln tonnes of wheat is imminent.  Others, who one month ago claimed a deal was not possible,  are saying they would not rule one out.  Rep. Pat Roberts, R-Kan., yesterday went so far as to  predict a subsidy offer would be made within the next ten days  to two weeks.  Aides to Roberts said he had spoken to Republican leaders  who had been in contact with administration officials.  Richard Fritz, director of international marketing at U.S.  Wheat Associates, said he was confident an export enhancement  offer would be made by the middle of this month.  Fritz also said he thought the value of the bonus would end  up being close to the offer Washington made Peking earlier this  year when USDA approved subsidies to China of around 36 dlrs  per tonne on one mln tonnes of wheat.  Some grain trade representatives say a four-mln-tonne wheat  subsidy offer might help stimulate more Soviet purchases of  U.S. corn and open the door to U.S. sales of soybeans.  As ever, one of the crucial sticking points in a wheat deal  would appear to be price.  Last summer the administration took the controversial step  of offering the Soviets subsidized wheat -- but were  embarrassed when Moscow spurned the proposal on the grounds  that the 15-dlr-per-tonne subsidy still left U.S. wheat prices  far above world market prices.  The administration's decision to set the subsidy level up  front instead of accepting bids from exporters appeared to be a  means of controlling the price while attempting to dampen  criticism, grain trade sources said.  Nonetheless, the pricing procedure did not prevent Shultz  from saying the Soviets were "chortling" because Washington was  offering Soviet housewives cheaper grain than that available to  U.S. housewives.  The conventional wisdom among grain trade representatives  here is that a general warming of relations between the two  countries since last summer, combined with continued hard times  in the U.S. grain belt, would favor a subsidy offer.  In addition, the USSR has made it clear it would consider  buying U.S. wheat if it were priced more competitively.  However, observers have not forgotten the circumstances  surrounding the administration's announcement of the wheat  subsidy offer last summer.  Up until the time of the announcment, congressional and  industry leaders were led to believe the White House had  decided to expand the Export Enhancement Program to include not  only the Soviets, but also a much broader list of countries.  Instead, the administration scaled back the offer to  include only the Soviets.  That last-minute change of heart adds a measure of  uncertainty even to the predictions of those most convinced  that the administration will not now pass up the opportunity to  sell four mln tonnes of wheat to the Soviet Union.  Reuter 
 CYPRUS LOWERS COPPER PRICE 1.25 CTS TO 67 CTS	 DENVER, April 1 -	 Cyprus Minerals Company said it is  decreasing its electrolytic copper cathode price by 1.25 cents  to 67.0 cents a pound, effective immediately.  Reuter 
 MAGMA LOWERS COPPER PRICE 0.25 CT TO 65.50 CTS	 NEW YORK, April 1 -	 Magma Copper Co, a subsidiary of  Newmont Mining Corp, said it is lowering its copper cathode  price by 0.25 cent to 65.50 cents a lb, effective immediately.  Reuter 
 INSPIRATION LOWERS COPPER PRICE TO 66.50 CTS/LB	 NEW YORK, April 1 -	 Inspiration Consolidated Copper Co, a  subsidiary of Inspiration Resources Corp, said it is lowering  its base price for full-plate copper cathodes one-half cent to  66.50 cents a lb, effective immediately.  Reuter 
 ANALYSTS SAY USSR MAY PREFER NEW CROP U.S. WHEAT	 WASHINGTON, April 1 -	 The Soviet Union would likely be more  interested in purchasing new crop wheat than in booking any  grain for immediate shipment if offered a subsidy on U.S.  wheat, an executive with a major grain export company said.  Lower prices and the desire to delay any big purchases  until the condition of winter and spring crops is better known  make new crop wheat more attractive, said George Hoffman,  director of commodity analysis for The Pillsbury Company.  "Pillsbury is assuming that they (Soviets) will be offered  a subsidy and that it will be a subsidy that they can respond  to," Hoffman told Reuters in an interview at an agribusiness  education conference here. But if there are too many  constraints placed on a subsidy offer, the USSR will take less  than an anticipated four mln tonnes, he said.  Hoffman said Pillsbury's internal statistics put Soviet  Union wheat purchases at only two mln tonnes under a subsidy  offer. However, if a subsidy is offered at competitive levels,  Moscow would likely buy more, he said.  "If we give the Soviets the same deal as the Chinese, I  expect they'll take it," said Vernon McMinimy, director of  commodity research for A.E. Staley Manufacturing Co.  McMinimy told Reuters spring weather and its impact on  crops will determine how much wheat Moscow would buy under a  subsidy offer.  Soviet winter crops did not get off to a good start because  of a dry autumn last year, and because of the severe winter  "they probably have had more damage due to winter weather than  normal," McMinimy said.  Reuter 
 EGYPT AUTHORIZED TO BUY PL 480 WHEAT FLOUR-USDA	 WASHINGON, April 1 -	 Egypt has been authorized to purchase  about 125,000 tonnes of U.S. wheat flour under an existing PL  480 agreement, the U.S. Agriculture Department said.  It may buy the wheat flour, valued at 23.0 mln dlrs between  April 8 and August 31, 1987 and ship it by September 30, the  department said.  Reuter 
 MEXICO BUYS 51,000 TONNES U.S. SOYBEANS	 KANSAS CITY, April 1 -	 Mexico bought 51,000 tonnes of U.S.  number two yellow soybeans in an overnight tender, for various  ocean and rail shipments in May, private export sources said.  About 40,000 tonnes sold for ocean shipment at prices  ranging from 199.67 to 210.17 dlrs per tonne, c and f, and  about 11,000 tonnes sold for rail shipment at prices from  205.50 to 217.88 dlrs per tonne, they said.  Reuter 
 U.S. GRAIN CARLOADINGS FALL IN WEEK	 WASHINGTON, Feb 26 -	 U.S. grain carloadings totaled 26,108  cars in the week ended February 21, down 2.2 pct from the  previous week but 22.8 pct above the corresponding week a year  ago, the Association of American Railroads reported.  Grain mill product loadings in the week totalled 11,382  cars, down 1.8 pct from the previous week but 7.6 pct above the  same week a year earlier, the association said.  Reuter 
 EC DENIES MAIZE EXPORTS RESERVED FOR U.S.	 BRUSSELS, April 2 -	 The agreement between the U.S. And the  European Community (EC) on special imports of maize and sorghum  provides an equal chance for all non-EC countries to supply the  Spanish market, an EC Commission spokeswoman said.  She denied that any unpublished clause of the agreement  guaranteed the bulk of the maize export business would go to  the U.S., As one EC official told Reuters yesterday.  Under the agreement, the EC will import two mln tonnes of  maize and 300,000 tonnes of sorghum a year into Spain at  specially reduced levy rates for the next four years.  The Commission has yet to decide whether the maize will  come in through direct purchases by the Spanish intervention  board or by a tender system.  REUTER 
 KENYAN COFFEE NEEDS RAIN, TRADERS SAY	 NAIROBI, April 2 -	 Kenya's late coffee crop is flowering  well, but the main coffee areas were generally dry and hot in  the week ended Wednesday, trade sources said.  "Machakos, Embu, Meru and Kirinyaga in eastern Kenya, and  Nyeri and Thika in central, have been dry in the past week. The  farmers expect rain this week. If it does not fall output of  the late (October-November-December) crop will decline sharply,"  one source said.  He said that since most growers did not irrigate their crop  they could do nothing but wait for rain, the main factor which  determines Kenyan coffee production.  Two months ago the International Coffee Organization issued  a forecast of Kenyan exportable coffee production in the  1986/87 (Oct-Sept) season at 1.82 mln bags.  REUTER 
 LME DETAILS MARCH 1987 TURNOVER	 LONDON, April 2 -	 The London Metal Exchange, LME, issued  turnovers for March 1987, with figures for corresponding period  1986 in brackets.  All in tonnes except Silver which in troy ounces.  Copper higher grade nil (2,526,425), Standard cathodes nil  (6,325), Grade A 2,429,200 (nil), Standard Copper 17,050 (nil),  Lead 443,850 (538,750), Zinc High grade 598,550 (304,825),  Silver large 10,350,000 (17,400,000), Small nil (2,000),  Aluminium 1,693,375 (1,301,850), Nickel 62,004 (65,040).  Cumulative figures for January-March were as follows -  Copper higher grade nil (7,703,625), Standard cathodes nil  (24,700), Grade A 6,455,525 (nil), Standard Copper 62,075  (nil), Lead 1,567,000 (1,979,750), Zinc High grade 1,746,675  (1,356,400), Silver large 41,770,000 (65,620,000), Small nil  (8,000), Aluminium 4,984,650 (4,974,950), Nickel 199,944  (179,328).  Reuter 
 40 MINERS TRAPPED BY FIRE IN GASPE COPPER MINE	 MURDOCHVILLE, Que., April 2 -	 Some 40 miners were trapped  underground today by a fire in a copper mine in the Gaspe area  of eastern Quebec, officials said.  There were no reports of any deaths.  A mine official said that the fire broke out last night and  about 25 of the miners made it to safety.  He said telephone contact had been established with the  trapped miners but they could not be brought to the surface  until the fire was extinguished.  The cause of the fire was not known.  Reuter 
 MADRID METRO HALTED AS SPANISH STRIKES SPREAD	 MADRID, April 2 -	 An estimated 1.2 mln metro users in  Madrid were stranded today as striking railway workers halted  the underground transport system, industry sources said. The  strikers joined coal miners, steel and oil refinery workers in  Spain's latest wave of stoppages over wage demands.  Some 10,000 pitmen in the northern province of Leon entered  the second day of an indefinite stoppage to demand wage rises  and a five-day working week, the sources said.  Oil refinery workers picketed the state-owned Empresa  Nacional de Petroleo SA (EMP) to prevent fuel lorries leaving  the company's largest plant in Puertollano, central Spain.  Paramilitary police were guarding steel mills at Reinosa,  in northern Spain, from the daily protests against planned job  cuts. A local government official said the police force would  remain in place until tempers had cooled down.  More than 60 people were injured in pitched battles between  police and steel foundry workers in Reinosa last month.  REUTER 
 USDA DENIES CHANGES IN TEXAS GULF DIFFERENTIALS	 WASHINGTON, April 2 -	 No changes have been made or are  being planned in the Agriculture Department's calculation of  price differentials between interior grain locations and the  Texas Gulf, a senior USDA official said.  Ralph Klopfenstein, USDA deputy administrator for commodity  operations, told Reuters, "We do not anticipate any changes to  be made" in the Texas Gulf differentials used to calculate  posted county prices for corn.  "We do not relate the Texas Gulf structure with the  Louisiana Gulf structure at all. It's a totally different  situation," he said.  Rumors had circulated through the market this morning that  USDA had widened Texas Gulf differentials in a similar manner  to last weekend's adjustments with the Louisiana Gulf.  Reuter 
 EC TO RELEASE MORE UK INTERVENTION FEED WHEAT	 PARIS, April 2 -	 The European Community Commission decided  today to make available a further 70,000 tonnes of British  intervention feed wheat for sale on to the British domestic  market, trade sources said here.  This will be additional to the 31,000 tonnes remaining  after this week's sale of 126,031 tonnes of domestic feed wheat  to the home market, British officials said in London.  Reuter 
 NORANDA & lt;NOR > COPPER MINE BLAZE KILLS ONE	 MURDOCHVILLE, Que., April 2 -	 One miner has died and 44  miners remain trapped a half mile underground in a fire at a  Noranda Inc copper mine, officials said.  Noranda said 26 miners had made it to a lunch room, where  they had air and water, but 18 others were unaccounted for.  Two rescue teams were searching for the missing men.  Noranda spokesman Lionel Gleeton said miner Ange-Marie  Kenney, in his 30s, died when he was caught in thick smoke  about 1,000 feet from the lunch room. His body was found by  rescuers.  Reuter 
 SUNSHINE MINING CHIEF SEES SILVER AT 9.00 DLRS	 NEW YORK, April 2 -	 Heightened concern over renewed  inflation is feeding the rally in silver and the upward move  could drive the inflation hedge metal this year to as much as  9.00 dlrs per troy ounce, Mike Boswell chairman of Sunshine  Mining Co told Reuters in an interview.  "The anticipated higher inflation is being manifested in  silver rather than in gold which is the traditional choice of  inflation hedgers," said Boswell.  The strength could put silver in a range of "8.00 to 9.00  dlrs even without any material swings in supply/demand,"  Boswell said.  The buying interest for silver on the New York Commodity  Exchange (Comex) continued strong, with prices rising today to  a September 1986 high of 6.465 dlrs per ounce. However gold  lagged at 426.30 dlrs, the strongest price since late January  this year.  Boswell said silver has been "under-valued for so long  relative to gold but it's closing up the price gap."  He noted that silver last year held at the depressed level  of 5.00 dlrs while gold was soaring to more than 400.00 dlrs on  concern over the heated political unrest in South Africa. "The  strength was not filtering down to silver last year. Now  we're seeing a delayed reaction," the Sunshine Mining official  said.  Almost a year ago, U.S. producers shut down two of their  largest silver properties, Sunshine and Hecla mining companies,  both located in Idaho.  Boswell estimated that the closings slashed U.S. silver  production by 10 mln ounces last year to less than 40 mln  ounces.  "Low silver prices and high labor costs made it  uneconomical to keep the mines opened," he said.  Increased imports from Mexico and Peru have made up for the  loss of production in the United States which consumes 160 to  170 mln ounces annually, Boswell said.  Reuter 
 NORANDA'S MURDOCHVILLE MINE SHUT DOWN BY FIRE	 Toronto, April 2 -	 & lt;Noranda Inc > said production at its  Murdochville, Quebec, copper mine was shut down by the fire  that trapped 44 miners and killed at least one.  Noranda spokesman Denis Morin said it was impossible to  judge right now how long the shutdown might last, but said he  thought it could be at least one week.  The mine produced 1,792,000 metric tons of ore in 1986,  Morin said. It has a mineral inventory of 35,065,000 tons.  In the mine's three zones last year, copper grade was 1.10  pct at Needle Mountain, 0.30 pct at Copper Mountain Oxide and  1.32 pct at Murdochville, Morin said.  Another Noranda spokesman said the smelter at Murdochville,  which has not been shut down, has the capacity to treat 218,000  tons of mineral concentrate per year.  The smelter treats ore from other mines as well as product  from the Murdochville facility, he said.  Reuter 
 SEVENTEEN MISSING COPPER MINERS FOUND ALIVE	 MURDOCHVILLE, Que., April 2 -	 Seventeen miners who were  missing in a copper mine fire were found today and efforts were  underway to rescue them and 29 others who were trapped but safe  in an underground lunch room, officials said.  The mine's owner, Noranda Inc., said one miner died in the  fire, six miners escaped unharmed, 29 made it to an underground  lunch room, where they had air and water, and 17 were later  found safe in other lunch rooms.  Reuter 
 U.K. WHEAT MARKET EASES ON INTERVENTION RELEASE	 LONDON, April 3 -	 U.K. Domestic wheat markets dropped about  one stg per tonne early this morning following overnight news  that the EC is releasing a further 300,000 tonnes of wheat from  British intervention stores for the home market over a three  month period.  April deliveries of denaturable wheat were offered in East  Anglia at 124 stg and May at 125 stg per tonne, both one stg  down on yesterday's traded rates.  The market is expecting U.K. Wheat futures to show a  similar loss at today's opening.  REUTER 
 SPAIN AGREES SALE OF CORN TO GREECE	 MADRID, April 3 -	 Greece has agreed to buy between 27,000  and 33,000 tonnes of Spanish corn, a spokesman for Cargill's  Spanish unit Compania Industrial y de Abastecimiento S.A.  (CINDASA) said.  He told Reuters the sale price was around 28.95 pesetas per  kilo but that the final quantity and delivery date has not yet  been set. The corn will be shipped in the coming days from  Valencia.  He said CINDASA will also ship 6,000 to 7,000 tonnes of  Spanish corn to Italy in the second half of this month.  The CINDASA spokesman said other corn shipments this month  will include between 15,000 and 30,000 tonnes bound initially  for Rotterdam and Ghent and destined for unspecified northern  European countries. He said shipments of 35,000 to 50,000  tonnes of low specific gravity barley were also expected this  month and added that Greece, the Netherlands, Ireland and  Belgium were considering imports of Spanish flour for milling.  Market sources said the corn exports, the absence of  imports from the rest of the EC and the delay in shipments of  corn from the U.S. Had pushed domestic corn prices up by around  0.25 pesetas a kilo today compared with yesterday.  Reuter 
 CYPRUS LOWERS COPPER PRICE ONE CT TO 66 CTS	 DENVER, April 3 -	 Cyprus Minerals Company said it is  decreasing its electrolytic copper cathode price by one cent  to 66.0 cents a pound, effective immediately.  Reuter 
 ASAMERA & lt;ASM > TO FORM NEW MINING UNIT	 CALGARY, Alberta, April 3 -	 Asamera Inc said it will  transfer all its mineral interests into a new wholly owned  subsidiary, Asamera Minerals Inc, which will later issue up to  15 pct of its shares to the public.  The mineral interests will include Asamera's 51 pct  interest in the Cannon gold mine in Wenatchee, Wash. Asamera  said the mine produced 116,514 ounces of gold in 1986 and is  expected to produce 130,000 to 140,000 ounces this year.  Asamera said its talks with Breakwater Resources Ltd  & lt;BWRLF > on a possible merger of mining interests, including the  Cannon mine, have been terminated. It did not elaborate.    Asamera said holding all its mineral properties in a  separate company will give better and more direct recognition  to the value of the assets.  Its other mining interests include gold exploration  prospects on 13,000 acres in Inyo County, Calif., and 500,000  acres in Canada's Northwest Territories, the Gooseberry gold  and silver mine in Nevada, chromite properties in northern  California and Newfoundland, and a platinum prospect in the  Rankin Inlet, Northwest Territories.      Reuter 
 USDA OFFERS EEP BARLEY MALT TO COLOMBIA	 WASHINGTON, April 3 -	 The U.S. Agriculture Department  announced Colombia has been made eligible for sales of up to  15,000 tonnes of barley malt under the department's export  enhancement program, EEP.  As with the previous 64 EEP initiatives, sales of U.S.  barley malt would be made to buyers in Colombia at competitive  world prices, USDA said.  The export sales would be subsidized with commodities from  the inventory of the Commodity Credit Corp and enable U.S.  exporters to compete at commercial prices in the Colombian  market, USDA said.  Reuter 
 GRAIN SHIPS LOADING AT PORTLAND	 PORTLAND, April 3 -	 There were five grain ships loading and  three ships were waiting to load at Portland, according to the  Portland Merchants Exchange.  Reuter 
 ARGENTINE GRAIN/OILSEED EXPORT PRICES ADJUSTED	 BUENOS AIRES, April 3 -	 The Argentine Grain Board adjusted  minimum export prices of grain and oilseed products in dlrs per  tonne FOB, previous in brackets, as follows:  Maize 71 (72), grain sorghum 65 (66).  Roasted groundnutseed, according to grain size, 510 (520),  400 (410), 375 (385), 355 (365).  Soybean pellets for shipments through May 164 (162) and  June onwards 161 (159).  REUTER 
 CHINA REGION SUGAR OUTPUT RISES	 PEKING, April 4 -	 The southwest Chinese region of Guangxi  increased its production of sugarcane by 26.8 pct to 9.4 mln  tonnes in the 1986-87 crushing season (November to March) from  the previous year, the New China News Agency said.  The cane, grown on 206,000 hectares, yielded 1.04 mln  tonnes of refined sugar, it said without giving comparative  figures.  China's sugar output in calendar 1986 rose to 5.24 mln  tonnes from 4.45 mln in calendar 1985, official figures show.  An official newspaper said in January that output in the  1986/87 crushing season would be only 4.82 mln tonnes because  of a drop in acreage due to low profits on growing cane and  beet.  REUTER 
 INDONESIA IMPORTS 12,000 TONNES CUBAN SUGAR	 JAKARTA, April 6 -	 Indonesia has imported 12,000 tonnes of  refined sugar from Cuba to meet consumer demand in the province  of South Sulawesi, the head of the provincial food agency said.  The imported sugar was needed because two of three sugar  refineries in the province have been temporarily shut down. It  arrived in the provincial capital of Ujungpandang today and  will be distributed to markets in the province, the food agency  official said.  Indonesia used to be a sugar exporter but last year it  imported 162,500 tonnes of sugar from Thailand, Angola and  Brazil to bolster its depleted stocks.  Indonesia's sugar cane production last year was expected to  rise significantly but domestic sugar consumption has soared  because of rising demand by the food processing industry, the  head of the food logistics agency, Bustanil Arifin, has said.  The government has forecast that sugar production in  calendar 1987 would increase 30.2 pct to 2.59 mln tonnes from  1.99 mln in 1986 but industry sources doubt whether the target  could be met due to persistent post-harvest handling and  transport problems.  REUTER 
 SOVIET GRAIN PRODUCTS MINISTRY CRITICISED	 MOSCOW, April 7 -	 The Soviet Communist Party has criticised  the country's Grain Products Ministry for failing to ensure  proper grain storage, turning out poor quality bread and for  unsatisfactory book keeping, Pravda said.  The party daily said that losses in the industry owing to  waste and theft amounted to 7.3 mln roubles over the last two  and a half years.  The situation was particularly bad in the Central Asian  republic of Kazakhstan, which has been severely criticised  since the ousting of its veteran leader Dinmukhamed Kunayev  last December.  Its new leader, Gennady Kolbin, has said that at times the  grain-growing republic has performed so badly that it has been  obliged to seek grain supplies from national reserves.  Tass news agency announced yesterday that Grain Products  Minister Grigory Zolotukhin, 75, was being retired and replaced  by Alexander Budyka, a senior food industry official.  Pravda added today that the crisis in the industry had been  drawn to Zolotukhin's attention and two of his deputies  reprimanded.  REUTER 
 GAO LIKELY TO SHOW CERTS MORE COSTLY THAN CASH	 WASHINGTON, Feb 26 -	 A study on grain certificates due out  shortly from the Government Accounting Office (GAO) could show  that certificates cost the government 10 to 15 pct more than  cash outlays, administration and industry sources said.  Analysis that the GAO has obtained from the Agriculture  Department and the Office of Management and Budget suggests  that certificates cost more than cash payments, a GAO official  told Reuters.  GAO is preparing the certificate study at the specific  request of Sen. Jesse Helms (R-N.C.), former chairman of the  senate agriculture committee.  The report, which will focus on the cost of certificates  compared to cash, is scheduled to be released in mid March.  The cost of certificates, said the GAO source, depends on  the program's impact on the USDA loan program.  If GAO determines that certificates encourage more loan  entries or cause more loan forfeitures, then the net cost of  the program would go up. However, if it is determined that  certificates have caused the government grain stockpile to  decrease, the cost effect of certificates would be less.  GAO will not likely suggest whether the certificates  program should be slowed or expanded, the GAO official said.  But a negative report on certificates "will fuel the fire  against certificates and weigh heavily on at least an increase  in the certificate program," an agricultural consultant said.  The OMB is said to be against any expansion of the program,  while USDA remains firmly committed to it.  Reuter 
 SYNGOLD DEFINES RESERVES ON DEKA PROPERTY	 Toronto, April 7 -	 & lt;Syngold Exploration Inc > and & lt;Corp  Falconbridge Copper > said they defined undiluted reserves of  911,000 tons of ore with an average grade of 0.43 ounces of  gold per ton in two separate deposits on the Deka property  located at Noranda, Quebec.  Assay results from 20 suface holes drilled on 250 foot  centers indicate tha t the Donalda number one deposit contains  possible reserves of 611,000 tons at an average grade of 0.48  ounces of gold per ton.  The number one deposit's reserves are contained between a  vertical depth of 750 and 1200 feet at a strike length of 900  feet.  Reserves of the Donalda number-two deposit, located 1,000  feet below the number-one deposit, were recalculated at 300,000  tons with an average grade of 0.33 ounces of gold per ton.  Syngold has earned a 20 pct interest in the Deka property  from the operator, Corp Falconbridge Copper.  Reuter 
 BRAZILIAN COFFEE RAINFALL	 SAO PAULO, APRIL 7 -	 THE FOLLOWING RAINFALL WAS RECORDED IN  THE AREAS OVER THE PAST 24 HOURS  PARANA STATE: UMUARAMA NIL, PARANAVAI NIL, LONDRINA NIL,  MARINGA NIL.  SAO PAULO STATE PRESIDENTE PRUDENTE NIL, VOTUPORANGA NIL,  FRANCA NIL, CATANDUVA NIL, SAO CARLOS NIL, SAO SIMAO NIL.  MINAS GERAIS STATE: GUAXUPE 33.0 MILLIMETRES, TRES PONTAS  5.0 MM. REUTER 
 USSR CROP WEATHER SUMMARY -- USDA/NOAA	 WASHINGTON, April 7 -	 Gradual warming continued in most  regions of Western Soviet Union in the week ended April 4, the  Joint Agricultural Weather Facility of the U.S Agriculture and  Commerce Departments said.  In its International Weather and Crop Summary, the agency  said most of the region's precipitation fell as rain.  The southern snow cover boundary continued to slowly  retreat northward and eastward, it said.  Moderate to deep snow cover the northern half of the  Ukraine, northern North Caucasus, and the lower Volga, about  one month later than usual, it said.  The agency said average weekly temperatures were below  normal in the southeast, near normal in the southwest and  northeast, and above normal in the northwest.  Winter grains remained dormant over the region, but warm  weather promoted greening in crop areas adjacent to the Black  Sea coast, it said.  Reuter 
 IOWA GRAIN ELEVATOR EXPLODES, BURNS	 BANCROFT, Iowa, April 7 -	 An explosion and fire today  damaged a grain elevator in Bancroft, Iowa, destroying  thousands of bushels of grain, authorities said.  The pre-dawn explosion ripped the wooden elevator open, and  a fire that followed continued burning at late morning but had  been contained, according to a dispatcher at the Algona Police  Department.  No injuries were reported at the Lone Rock Coop facility.  The dispatcher said the elevator was filled with corn, and  a nearby drying building holding soybeans was on fire.  The explosion was the second in four days in Iowa following  the destruction of an Archer Daniels Midland elevator in  Burlington last Friday.  Reuter 
 U.K. INTERVENTION BOARD DETAILS EC SUGAR SALES	 LONDON, March 4 -	 A total 60,500 tonnes of current series  white sugar received export rebates of a maximum 43.147  European Currency Units (Ecus) per 100 kilos at today's  European Community (EC) tender, the U.K. Intervention Board  said.  Out of this, traders in the U.K. Received 43,500 tonnes, in  the Netherlands 12,000, in Denmark 4,000 and in West Germany  1,000 tonnes.  Earlier today, London and Paris traders said they expected  the subsidy for the current season whites campaign for licences  to end-July to be between 43.00 and 43.45 Ecus per 100 kilos.  They had also forecast today's total authorised sugar  tonnage export awards to be between 60,000 and 80,000 tonnes  versus 103,000 last week when the restitution was 43.699 Ecus.  REUTER 
 MAGMA LOWERS COPPER PRICE 0.50 CT TO 65.50 CTS	 NEW YORK, April 7 -	 Magma Copper Co, a subsidiary of  Newmont Mining Corp, said it is lowering its copper cathode  price by 0.50 cent to 65.50 cents a lb, effective immediately.  Reuter 
 WESTMIN TO RAISE MYRA FALLS CAPACITY BY 33 PCT	 CALGARY, Alberta, April 7 -	 Westmin Resources Ltd said it  plans to increase capacity at its Myra Falls, British Columbia,  base and precious metal mine and mill complex by 33 pct to  4,400 short tons of ore a day, subject to regulatory approvals.  The company said the expansion will cost about 24 mln dlrs  and could be in operation by 1988.  Economies of scale from the expansion should pay back net  expansion cost in less than one year, Westmin said.  The Myra Falls complex processed 3,257 tons of ore a day  during 1986. Myra Falls 1986 production was 44,000 ounces of  gold, 966,266 ounces of silver, 45.5 mln lbs of copper, 96.2  mln lbs of zinc and 777,000 lbs of lead, a company spokesman  said.  Myra Falls 1986 production was 44,000 ounces of gold,  966,266 ounces of silver, 45.5 mln pounds of copper, 96.2 mln  pounds of zinc and 777,000 pounds of lead, a company spokesman  said.  Reuter 
 FINNS AND CANADIANS TO STUDY MTBE PRODUCTION PLANT	 HELSINKI, April 8 -	 Finland's national oil company Neste Oy  & lt;NEOY.HE > said in a statement it had agreed with Canadian firms  to study the feasibility of building a plant in Edmonton,  Canada, to produce a replacement for lead in petrol.  The prospective plant would cost an estimated 270 mln  Canadian dlrs and would produce methyl tertiary butyl ether  (MTBE) from raw materials available locally, it said.  The partners in the study are Neste Oy, Celanese Canada  Inc, Hoechst Celanese Corporation and Trade Mountain Pipe Line  Company Ltd, of Vancouver, B.C.  The Edmonton site was suitable because of the raw materials  availability, the proximity to pipeline transportation and the  important capital and operating advantages gained by locating  on an existing Celanese Canada site, the statement said.  The partners would look into the feasibility of a plant  producing 500,000 tonnes per annum of MTBE, an octane enhancer  that can replace tetra ethyl lead.  Most of the MTBE would be targeted for the United States  where lead levels in gasoline are being lowered because of  health concerns, the statement added.  Canadian lead limits are currently 11 times as high as the  U.S. Limit but lead is scheduled for virtual elimination in  Canada by 1993, which should create a Canadian demand for MTBE,  it said.  Finland's Neste Oy, whose turnover last year was over five  billion dlrs, has extensive experience with MTBE. It has a  major investment in an MTBE plant in Saudi Arabia.  The Edmonton, Alberta plant would be scheduled to go on  stream in late 1989, the statement said.  REUTER 
 THAI ZINC EXPORTS FALL IN MARCH	 BANGKOK, April 8 -	 Thai zinc ingot exports fell to 882  tonnes in March from 1,764 in February and 3,008 in March 1986,  the Mineral Resources Department said.  A spokesman for Padaeng Industry Co Ltd, the country's sole  exporter, attributed the decline to the company's lower stocks,  which averaged 5,000 tonnes in the first quarter against 16,000  tonnes in late 1985 when it began exporting.  The department said major buyers included China, Japan, the  Philippines, South Korea, Singapore and Taiwan.  Thailand exported 4,842 tonnes of zinc ingots during the  first quarter, down from 14,937 a year ago.  REUTER 
 CANADA PLANS TO MONITOR STEEL IMPORTS, EXPORTS, TRADE MINISTER SAYS	(NO DATE)	(NO TEXT)
 JAPAN MINISTRY HAS NO COMMENT ON RICE TALKS REPORT	 TOKYO, April 9 -	 The Agriculture Ministry declined comment  on a local newspaper report that Japan had agreed to hold talks  on its closed rice market in the new GATT round.  "We have no idea about the report and cannot comment," a  spokesman told Reuters.  Nihon Keizai Shinbun, quoting unnamed government sources,  said Japan would tell U.S. Agriculture Secretary Richard Lyng  and U.S. Trade Representative Clayton Yeutter of its  intentions. The two are due to visit Japan later this month for  farm talks.  The U.S. Has been pressing Japan to discuss the rice issue  at the new round of General Agreement on Tariffs and Trade  talks. But Japan has said GATT is not the right forum.  Imports of rice to Japan are banned under the Foodstuff  Control Act.  Nihon Keizai said Japan's plan resulted from worries about  mounting trade tension with the U.S. At the GATT talks, Japan  will try to persuade the U.S. That its rice policy is  justified, it said.  The 93-nation world trade body began the Uruguay trade  round last September. It will take four years to negotiate.  REUTER 
 BELGIUM TO ISSUE GOLD WARRANTS, SOURCES SAY	 ZURICH, April 9 -	 Belgium plans to issue Swiss franc  warrants to buy gold, with Credit Suisse as lead manager,  market sources said.  No confirmation or further details were immediately  available.  REUTER 
 JOHNSON MATTHEY'S PLATINUM GROUP PRICES	 LONDON, APRIL 9 -	 Johnson Matthey today issued the  following Platinum group base prices (unfabricated), all U.S.  Dlrs per troy ounce.  Previous prices in parentheses.  PLATINUM  -   562   (567)  PALLADIUM -   130   (130)  IRIDIUM   -   400   (400)  RHODIUM     1,230 (1,230)  RUTHENIUM -    80    (80) 
 INDIA FOODGRAIN TARGET 160 MLN TONNES IN 1987/88	 NEW DELHI, April 9 -	 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.  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.  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).  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.  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.  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.  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. But the target can be achieved only with  good weather, the report said.  "The major thrust programme will, therefore, be better water  (irrigation) management. 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.  Reuter 
 CANAM MANAC WINS 8.5 MLN DLR CONTRACT	 MONTREAL, April 9 -	 (The Canam Manac Group Inc) said its  Canam Steel Works unit received a contract valued at 8.5 mln  dlrs to supply steel trusses to (Canron Inc) for a new car  plant in Ingersoll, Ontario.  Canam Manac said it will produce the trusses at its Quebec  and Ontario plants and delivery will be completed by August.  Reuter 
 TALKING POINT/STEEL COMPANIES	 NEW YORK, April 9 -	 Steel stocks, which have had a healthy  runup recently, still present some short term investment  opportunities, according to some steel analysts.  But others say the upturn, based on strong orders and firm  prices this spring, has been strictly seasonal and will end  soon. They recommend taking profits.  "It's that time of year. This is strictly seasonal," said  Charles Bradford of Merrill Lynch and Co. "Orders will be  strong for about two months, and there are signs that some  (order rates) are starting to dive already."  But Dean Witter Reynolds Inc analyst Clarence Morrison sees  some short-term potential in the group, which includes USX Corp  & lt;X > , Bethlehem Steel Corp & lt;BS > , Armco Inc & lt;AS > and Inland Steel  Industries Inc & lt;IAD > .  "There is still some attractiveness to steels over the  short- to intermediate-term based on improved order rates and  rising prices," Morrison said. He only recommends one stock,  however, Inland, which is modernizing steelmaking operations to  make them more efficient.  Despite his bearishness, Merrill's Bradford continues to  recommend Armco, which he sees as a major turnaround.  Armco's steelmaking operations are profitable, the balance  sheet has been improved, and its oilfield equipment business  has been slimmed and put in a joint venture with USX, Bradford  noted. "It's not a high-quality investment situation yet but  they've come a long way," he said.  "We think the stock will do moderately better than the  market," he said. Armco shares, trading off 1/4 at 10 today,  could go to 12, and possibly as high as 15, he said.  Bradford sees Armco earning 50 to 75 cts a share in 1987,  before special gains from recouped investment tax credits,  against losses last year.  Armco's 1988 earnings could be significantly higher, he  said.  Bradford is recommending sale of USX shares. "We had a buy  on it below 20 but when it gets to 28, let somebody else have  it," he said.  The steel and energy concern will earn about one dlr a  share in 1987, about half of that coming from asset sales, and  from two dlrs to 2.50 dlrs in 1988, Bradford said. "But a lot  depends on oil prices," he added. About 60 pct of USX's sales  come from oil and natural gas.  Other analysts, including Michelle Galanter Applebaum of  Salomon Brothers Inc, recommend USX. "The company's done a lot  (of restructuring), more than the mark et's given them credit  for," she said.  She sees the stock going to the mid 30s or higher. USX was  trading up 1/8 at 28-1/2. She predicts USX will earn 18 cts a  share this year and 2.73 dlrs next year against large losses in  1986.  Applebaum, who is also positive on Armco and Inland, has  been recommending the stocks since last November.  Peter Marcus of Painewebber Inc is neutral on the group  although he said the earnings outlook is improved through the  third quarter.  But he sees potential trouble beyond then. "I think (steel)  prices on a bookings basis will start to drop by the summer,"  he said.  Applebaum of Salomon Brothers also sees some seasonal  dropoff later in the year. "But there are more positives than  negatives," she said, citing reduced capacity in the domestic  industry, better prices, and a weaker dollar, which should  cause steel imports to drop off slightly from last year.  Reuter 
 DOE RUN RAISES LEAD PRICE 0.50 CT TO 26.50 CTS	 ST LOUIS, MO., April 9 -	 Doe Run Company said it is  increasing the price of its corroding grade lead by one-half  cent to 26.50 cents a lb, effective immediately.  The price is quoted FOB, Herculaneum, Mo., and FOB, Boss,  Mo., with freight allowed for carload quantities.    Reuter 
 GORDEX MINERALS LOCATES GOLD DEPOSITS	 SAINT JOHN, New Brunswick, April 9 -	 & lt;Gordex Mineral Ltd >   said geologists located more than one mln tons of gold-bearing  deposits, 0.057 ounces per ton, at Cape Spencer.  The company said it plans to invest 2.5 mln Canadian dlrs  to expand on-site treatment facilities to process 100,000 tons  of gold-bearing deposits this year and 200,000 tons in 1988.  Prior to the completion of the recent exploration program,  Gordex estimated the Cape Spencer deposit had 200,000 tons.  Gordex said the expansion of the Cape Spencer facilities is  intented to enable it to operate 24 hours a day throughout the  year.  Reuter 
 TORRENTIAL RAINS HALT ARGENTINE GRAIN HARVEST	 BUENOS AIRES, March 4 -	 Torrential rains throughout  Argentina's grain-producing areas virtually paralysed coarse  grain harvesting in the week to yesterday, trade sources said.  Sunflower, maize and sorghum harvests were particularly  affected, they said. But the rains proved to be a great aid to  soybean crops as their harvesting will not begin until April or  May.  The rains did no damage to maize, sunflower and sorghum  crops though fresh rains in similar volume could reduce yields  and cut the total volume of this year's harvest.  Rainfall measured between 15 and 270 mm in Buenos Aires,  with the heaviest rains in the province's western sectors,  between 15 and 100 mm in Cordoba, 15 and 120 mm in La Pampa, 10  and 75 mm in Santa Fe, 10 and 60 mm in Entre Rios, five and 40  mm in Misiones, and five and 50 mm in San Luis.  No rain was recorded in Corrientes, Chaco and Formosa.  Growers did not revise their estimates for total volume of  the coarse grain harvest over last week's estimates.  Maize harvesting continued moving forward in central Santa  Fe, though slowly. Growers had harvested seven to nine pct of  total planted area, compared to five to seven pct last week.  Total maize area planted for the 1986/87 harvest was  estimated at between 3.58 and 3.78 mln hectares, or two to  seven pct less than the 3.85 mln hectares planted in the  1985/86 harvest.  Maize production is expected to total between 10.4 and 11  mln tonnes, or a drop of 17.5 to 19.4 pct over the 12.4 to 12.6  mln tonnes harvested last year according to private estimates,  or 18.9 to 21.9 pct lower than last year's volume, according to  official figures.  The sunflower harvest advanced to between seven and nine  pct of total planted area.  Two to 2.2 mln hectares have been planted with sunflowers  for this harvest, down 29.9 to 36.3 pct from last year's figure  of 3.14 mln hectares.  Sunflower production is expected to total between 2.4 mln  and 2.7 mln tonnes, which would mean a drop of between 34.1 and  41.5 pct against the record 4.1 mln tonnes harvested in the  1985/86 harvest.  Grain sorghum harvesting inched forward to between two and  four pct of total planted area, which this harvest is 1.23 to  1.30 mln hectares or 10.3 to 15.2 pct less than the 1.45 mln  hectares planted in the 1985/86 harvest.  Sorghum production is expected to total between 3.2 mln and  3.5 mln tonnes, or 16.7 to 22 pct less than the 4.1 to 4.2  million tonnes harvested in 1985/86.  Soybean production, by contrast, is expected to hit a  record 8.0 to 8.4 mln tonnes, which would mean an increase of  11.1 to 15.1 pct over last year's record figure of 7.2 to 7.3  mln tonnes, according to private estimates. Official figures  put last year's soybean harvest at 7.1 mln tonnes.  Soybean crops were reported to be in generally very good  condition, helped by abundant rains and high temperatures.  Total soybean-planted area for the 1986/87 harvest is  expected to be a record 3.7 to 3.8 mln hectares, up 10.8 to  13.8 pct from last year's harvest figure of 3.34 mln hectares.  Reuter 
 NET CHANGE IN EXPORT COMMITMENTS -- USDA	 WASHINGTON, April 9 -	 The U.S. Agriculture Department gave  the net change in export commitments, including sales,  cancellations, foreign purchases and cumulative exports, in the  current seasons through the week ended April 2, with  comparisons, as follows, in tonnes, except as noted --  4/2/87   Prev Week  All Wheat   119,800    368,300  Corn 1,001,900    927,000  Soybeans   240,500    300,900  Soy Cake/Meal  117,700    170,200  Soybean Oil     2,400-x    8,100  Cotton-Y     60,200     31,900  x-minus total. Y-running bales.  The indicated totals include reported commitments to both  named and unnamed destinations, sales on exporters' own account  and optional origin sales plus actual exports already made  during the respective marketing seasons.  The USDA cautions that reported outstanding sales are  subject to modification, deferral or cancellation and it is  unlikely that all reported quantities will be exported.  USDA gave detailed breakdowns for the 1986/87 and 1987/88  seasons as follows, in thousand tonnes unless stated --  (A) - Firm sales to a declared destination.  (B) - Ultimate destination not yet declared.  (C) - Sales made on exporters' own account.  (D) - Exporter holds option to fill commitment with supplies  from origins other than U.S.  (E) - Accumulated exports since season began based on data  reported by exporters.  (F) - Indicated total for season.  (G) - USDA-projected exports for season.  Note -- Totals may not add due to rounding.  ALL WHEAT  1986/87             1987/88  4/2/87   Prev Wk  4/3/87 Prev Wk  Named-A    3,157.6   3,684.1 1,591.4 1,635.6  Unnamed-B    143.8     144.3    87.1    57.1  E.O.A.-C       9.5       9.5     nil     nil  O.O.P.-D       nil       nil     nil     nil  Gr Total   3,310.9   3,837.9 1,679.0 1,692.7  Ay Expd-E 21,044.6  20,433.4  Ind Ttl-F 24,355.5  24,271.3  USDAPRJ-G 27,900.0  27,900.0  SOYBEANS  1986/87            1987/88  4/2/87   Prev Wk   4/2/87  Prev Wk  Named-A    1,774.7  1,780.3     215.9   215.9  Unnamed-B    500.3    524.8       nil    30.0  E.O.A.-C      18.4     18.4       nil     nil  O.O.P.-D       nil      nil       nil     nil  Gr Total   2,293.4  2,323.5     215.9   245.9  Ay Expd-E 14,334.2 14,183.2  Ind Ttl-F 16,627.6 16,506.7  USDAPRJ-G 19,050.0 19,050.0  CORN  1986/87             1987/88  4/2/87    Prev Wk    4/2/87 Prev WK  Named-A    8,559.8   8,684.8    772.1   268.8  Unnamed-B    945.7     920.1      nil     nil  E.O.A-C       90.8      66.9      nil     nil  O.O.P-D      138.0     175.0      nil     nil  Gr Total   9,734.3   9,846.9    772.1   268.8  Ay Expd-E 20,296.0  19,293.8  Ind Ttl-F 30,030.3  29,140.7  USDAPRJ-G 31,750.0  31,750.0  SORGHUM  1986/87            1987/88  4/2/87  Prev Wk    4/2/87 Prev WK  Named-A      875.6    805.1     nil      nil  Unnamed-B    151.2    151.2     10.2-x   nil  E.O.A-C        nil      nil     nil      nil  O.O.P-D      114.5    138.3     nil      nil  Gr Total   1,141.3  1,094.6     10.2-x   nil  Ay Expd-E  3,222.5  3,149.7  Ind Ttl-F  4,363.8  4,244.3  USDAPRJ-G  5,720.0  5,720.0  x-minus total  WHEAT PRODUCTS  1986/87            1987/88  4/2/87  Prev Wk   4/2/87   Prev Wk  Named-A     321.0   401.9       nil    nil  Unnamed-B     nil     nil       nil    nil  E.O.A.-C      nil     nil       nil    nil  O.O.P.-D      nil     nil       nil    nil  Gr Total    321.0   401.9       nil    nil  Ay Expd-E   926.9   840.9  Ind Ttl-F 1,348.2 1,242.8  Note - Includes bulgur, semolina, farina, rolled, cracked and  crushed wheat.  SOYBEAN OIL  1986/87           1987/88  4/2/87  Prev Wk    4/2/87  Prev Wk  Named-A      8.8    10.4      nil     nil  Unnamed-B    7.0    10.5      nil     nil  E.O.A-C      nil     nil      nil     nil  O.O.P-D      nil     nil      nil     nil  Gr Total    15.8    20.9      nil     nil  Ay Expd-E  138.4   135.8  Ind Ttl-F  154.2   156.7  USDAPRJ-G  610.0   610.0  SOYBEAN CAKE AND MEAL  1986/87             1987/88  4/2/87  Prev Wk    4/2/87 Prev Wk  Named-A      788.0    869.7    50.7      48.4  Unnamed-B     76.0     94.0     nil       nil  E.O.A-C        2.7      6.1     nil       nil  O.O.P-D        nil      nil     nil       nil  Gr Total     866.7    969.8    50.7      48.4  Ay Expd-E  4,098.0  3,880.6  Ind Ttl-F  4,964.7  4,850.4  USDAPRJ-G  5,760.0  5,760.0  COTTONSEED OIL  1986/87            1987/88  4/2/87  Prev Wk   4/2/87   Prev Wk  Named-A      7.4     7.2       nil     nil  Unnamed-B    0.3     0.3       nil     nil  E.O.A.-C     nil     nil       nil     nil  O.O.P.-D     7.8     7.8       nil     nil  Gr Total    15.4    15.2       nil     nil  ALL UPLAND DOMESTIC RAW COTTON-Y  1986/87            1987/88  4/2/87    Prev Wk   4/2/87  Prev Wk  Named-A    2,007.9  2,076.1     468.2   457.2  Unnamed-B     20.3     20.2       nil     nil  E.O.A-C        nil      nil       nil     nil  O.O.P-C        nil      nil       nil     nil  Gr Total   2,028.2  2,096.3     468.2   457.2  Ay Expd-E  4,333.1  4,204.7  Ind Ttl-F  6,361.3  6,301.0  USDAPRJ-G  6,335.0  6,335.0  Y-In thousand running bales.  BARLEY  1986/87            1987/88  4/2/87   Prev Wk     4/2/87 Prev Wk  Named-A      559.5    584.5      nil      nil  Unnamed-B     12.7     12.7      nil      nil  E.O.A.-C       nil      nil      nil      nil  O.O.P.-D      25.0     25.0      nil      nil  Gr Total     597.1    622.1      nil      nil  Ay Expt-E  2,464.6  2,440.7  Ind Ttl-F  3,061.7  3,062.8  USDAPRJ-G  3,270.0  3,270.0  OATS  1986/87            1987/88  4/2/87 Prev Wk    4/2/87  Prev Wk  Named-A     nil    nil       nil    nil  Unnamed-B   nil    nil       nil    nil  E.O.A.-C    nil    nil       nil    nil  O.O.P.-D    nil    nil       nil    nil  Gr Total    nil    nil       nil    nil  Ay Expd-E   2.4    2.4  Ind Ttl-F   2.4    2.4  USDAPRJ-G  30.0   30.0  RICE  1986/87            1987/88  4/2/87   Prev Wk    4/2/87  Prev Wk  Named-A      347.6    369.1      nil     nil  Unnamed-B      1.0      1.0      nil     nil  E.O.A-C        nil      nil      nil     nil  O.O.P-D        nil      nil      nil     nil  Gr Total     348.6    370.1      nil     nil  Ay Expd-E  1,718.8  1,688.2  Ind Ttl-F  2,067.4  2,058.3  USDAPRJ-G  2,580.0  2,580.0  HARD RED WINTER WHEAT  1986/87            1987/88  4/2/87   Prev Wk     4/2/87  Prev Wk  Named-A   1,738.0  2,019.7     893.0   943.0  Unnamed-B    80.5     70.5     107.6    77.2  E.O.A.-C      nil      nil       nil     nil  O.O.P.-D      nil      nil       nil     nil  Gr Total  1,818.5  2,090.2   1,000.6 1,020.2  Ay Exp-E  8,332.1  7,974.5  Ind Tl-F 10,150.6 10,064.8  WHITE WHEAT  1986/87            1987/88  4/2/87  Prev Wk    4/2/87   Prev Wk  Named-A     548.5    635.6     58.0    58.0  Unnamed-B    19.0-x   19.0-x    6.0-x   6.0-x  E.O.A.-C      nil      nil      nil     nil  O.O.P.-D      nil      nil      nil     nil  Gr Total    529.5    616.6     52.0    52.0  Ay Exp-E  3,831.5  3,757.7  Ind Tl-F  4,361.0  4,374.3  x - denotes minus figure  HARD RED SPRING WHEAT  1986/87             1987/88  4/2/87   Prev Wk    4/2/87   Prev Wk  Named-A    576.6    620.6 164.7   164.7  Unnamed-B   29.6     16.0      nil     nil  E.O.A.-C     0.9      0.9      nil     nil  O.O.P.-D     nil      nil      nil     nil  Gr Total   607.1    637.5    164.7   164.7  Ay Exp-E 4,312.4  4,247.6  Ind Tl-F 4,919.5  4,885.1  DURUM WHEAT  1986/87              1987/88  4/2/87   Prev Wk    4/2/87  Prev Wk  Named-A    166.6    280.3      93.4   93.4  Unnamed-B   52.8     76.9       nil    nil  E.O.A.-C     2.8      2.8       nil    nil  O.O.P.-D     nil      nil       nil    nil  Gr Total   222.2    360.0      93.4   93.4  Ay Exp-E 1,842.6  1,727.5  Ind Tl-F 2,064.8  2,087.5  SOFT RED WINTER WHEAT  1986/87             1987/88  4/2/87  Prev Wk     4/2/87  Prev Wk  Named-A     127.8    127.8    382.3   376.5  Unnamed-B     nil      nil     14.0-x  14.0-x  E.O.A.-C      5.8      5.8      nil     nil  O.O.P.-D      nil      nil      nil     nil  Gr Total    133.6    133.6    368.3   362.5  Ay Exp-E  2,726.0  2,726.0  Ind Tl-F  2,859.6  2,859.6  x-minus figure  Country and destinations of the identified sales of  commodities reported by exporters in week ended April 2 for  the respective marketing seasons were detailed by the USDA as  follows, with comparisons for the previous week, in thousands  of tonnes, except where noted--  ALL WHEAT  1986/87             1987/88  4/2/87  Prev Wk   4/2/87   Prev Wk  E.C.          nil     nil      50.0    50.0  Other West  Europe      218.8   236.8       nil     nil  East Europe 261.0   346.0      25.0    25.0  ALL WHEAT Continued  1986/87            1987/88  4/2/87  Prev Wk    4/2/87  Prev Wk  USSR           nil      nil      nil     nil  Japan        490.4    662.2      nil     nil  China         90.0     90.0    910.0   910.0  Taiwan       115.0    141.0    144.0   144.0  Other Asia and  Oceania      654.9    730.9     28.6    78.6  Africa       959.5  1,115.0    167.1   167.1  Western  Hemisphere   367.9    362.1    266.7   260.9  SOYBEANS        1986/87            1987/88  4/2/87   Prev Wk   4/2/87   Prev Wk  E.C.        302.2     317.7    91.4     91.4  Other West  Europe       25.0      25.0     nil      nil  East Europe 101.0     101.0     nil      nil  Japan       355.4     330.5     nil      nil  China         nil       nil     nil      nil  Taiwan      472.0     499.0    87.0     87.0  Other Asia and  Oceania     164.6     187.7     nil      nil  Africa        nil       nil     nil      nil  Western  Hemisphere  354.4     391.5     37.5    37.5  SOYBEAN OIL  1986/87           1987/88  4/2/87  Prev Wk    4/2/87  Prev Wk  E.C.        1.5     1.5      nil     nil  India       nil     nil      nil     nil  Other Asia and  Oceania     nil     nil      nil     nil  Africa      nil     nil      nil     nil  Western  Hemisphere  7.3     8.9      nil     nil  SOYBEAN CAKE/MEAL  1986/87            1987/88  4/2/87   Prev Wk   4/2/87   Prev Wk  E.C.        301.7   350.7     47.2   45.0  Other West  Europe        nil     nil      nil    nil  East Europe   nil    36.0      nil    nil  Japan         nil     3.5      nil    nil  Other Asia and  Oceania      25.0    40.0      nil    nil  Africa       30.2    38.0      nil    nil  Western  Hemisphere  431.0   401.5      3.4    3.4  CORN         1986/87            1987/88  4/2/87   Prev Wk   4/2/87  Prev Wk  E.C.           82.5     22.5       0.2     0.2  Other West  Europe          nil      0.8       nil     nil  E. Europe      94.0     50.0      50.0    50.0  USSR        2,432.7  2,543.8       nil     nil  Japan       2,767.4  2,787.8      52.4    21.0  China         495.0    555.0       nil     nil  Taiwan        791.0    836.0     390.0   170.0  Other Asia and  Oceania       721.7    615.2     250.0     nil  Africa        125.0    195.5       nil     nil  WestHem     1,050.5  1,114.0      29.4    27.6  UPLAND COTTON (In thousand bales)  1986/87             1987/88  4/2/87  Prev Wk     4/2/87 Prev Wk  E.C.        260.9    266.1     97.9    95.0  Other West  Europe       62.2     66.2      8.7     8.7  E. Europe     3.1      3.1      nil     nil  Japan       445.8    484.1     72.3    70.1  Taiwan      377.9    390.4     41.6    39.5  Other Asia and  Oceania     741.7    783.4    244.5   241.1  Africa       16.7     13.4      nil     nil  Western  Hemisphere   99.6     69.5      3.2     2.7  Reuter 
 U.S. SUPPLY/DEMAND DETAILED BY USDA	 Washington, April 9 -	 The U.S. Agriculture Department made  the following supply/demand projections for the 1986/87  seasons, in mln bushels, with comparisons, unless noted --  CORN --     1986/87            1985/86  04/09/87 03/09/87  04/09/87 03/09/87  Acreage (mln acres) --  Planted   76.7    76.7     83.4    83.4  Harvested   69.2    69.2     75.2    75.2  Yield (bu)  119.3   119.3    118.0   118.0  Supply (mln bu) --  Start Stock  4,040   4,040    1,648   1,648  Production  8,253   8,253    8,877   8,877  Total-X 12,295  12,295   10,536  10,536  X-Includes imports.  CORN (cont.)  1986/87           1985/86  04/09/87 03/09/87  04/09/87 03/09/87  Usage: Feed  4,500    4,300     4,095    4,126  Other  1,180    1,150     1,160    1,129  Ttl Domest  5,680    5,450     5,255    5,255  Exports  1,375    1,250     1,241    1,241  Total Use  7,055    6,700     6,496    6,496  End Stocks  5,240    5,595     4,040    4,040  Farmer Reser 1,400    1,300       564      564  CCC Stocks  1,700    1,500       546      546  Free Stocks  2,140    2,795     2,930    2,930  AvgPrice  1.35-1.65  1.35-1.65  2.23     2.23  Note - Price in dlrs per bu. Corn season begins Sept 1.  ALL WHEAT -  1986/87            1985/86  04/09/87 03/09/87  04/09/87 03/09/87  Acreage (mln acres) --  Planted   72.0    72.0     75.6    75.6  Harvested   60.7    60.7     64.7    64.7  Yield   34.4    34.4     37.5    37.5  Supply (mln bu) --  Start Stcks  1,905   1,905    1,425   1,425  Production  2,087   2,087    2,425   2,425  Total  Supply-X  4,007   4,007    3,865   3,865  X - Includes imports.  ALL WHEAT   1986/87            1985/86  (cont.)   04/09/87 03/09/87  04/09/87 03/09/87  Usage: Food    700    690       678    678  Seed     84     90        93     93  Feed    350    325       274    274  Ttl Domest  1,134  1,105     1,045  1,045  Exports  1,025  1,025       915    915  Total Use  2,159  2,130     1,960  1,960  End Stocks  1,848  1,877     1,905  1,905  Farmer Reser   475    450       433    433  CCC Stocks    950    950       602    602  Free Stocks    423    477       870    870  Avg Price  2.30-40  2.30-40   3.08   3.08  Note - Price in dlrs per bushel. Wheat season begins June 1.  SOYBEANS -  1986/87            1985/86  04/09/87 03/09/87  04/09/87 03/09/87  Acreage (mln acres) --  Planted   61.5   61.5     63.1   61.1  Harvested   59.4   59.4     61.6   61.6  Yield (bu)   33.8   33.8     34.1   34.1  Supply (mln bu) --  Start Stocks    536    536      316    316  Production  2,007  2,007    2,099  2,099  Total  2,543  2,543    2,415  2,415  SOYBEANS (cont.)  1986/87             1985/86  04/09/87 03/09/87   04/09/87 03/09/87  Usage --  Crushings  1,130   1,115      1,053   1,053  Exports    700     700        740     740  Seed, Feed and  Residual    103      93         86      86  Total Use  1,933   1,908      1,879   1,879  End Stocks    610     635        536     536  Avg Price 4.60-4.80 4.60-4.80   5.05    5.05  Note - Average price in dlrs per bushel. Soybean season begins  June 1.  FEEDGRAINS - X  1986/87            1985/86  04/09/87 03/09/87  04/09/87 03/09/87  Acreage (mln acres) --  Planted  119.8   119.8     128.1   128.1  Harvested  102.0   102.0     111.8   111.8  Yld (tonnes)   2.48    2.48      2.45    2.45  Supply (mln tonnes) --  Start Stocks  126.4   126.4      57.5    57.5  Production  252.4   252.4     274.4   274.4  Imports    0.6     0.6       0.9     0.9  Total  379.4   379.4     332.7   332.7  X - Includes corn, sorghum, barley, oats.  FEEDGRAINS - X (cont.)  1986/87          1985/86  04/09/87 03/09/87  04/09/87 03/09/87  Usage: Feed  140.6   136.2     134.8   135.5  Other   35.8    35.0      35.0    34.3  Ttl Domest  176.4   171.2     169.8   169.8  Exports   43.9    40.8      36.6    36.6  Total Use  220.3   211.9     206.4   206.4  End Stocks  159.1   167.5     126.4   126.4  Farmer Reser  39.0    36.5      16.6    16.6  CCC Stocks   55.2    49.5      20.4    20.4  Free Stocks   64.8    81.5      89.3    89.3  X - Includes corn, sorghum, oats, barley. Seasons for oats,  barley began June 1, corn and sorghum Sept 1.  SOYBEAN OIL -  1986/87            1985/86  04/09/87 03/09/87  04/09/87 03/09/87  Supply (mln lbs) --  Start Stcks     947     947       632     632  Production  12,263  12,103    11,617  11,617  Imports     Nil     Nil         8       8  Total  13,210  13,050    12,257  12,257  Note - 1985/86 production estimates based on October year  crush of 1,060 mln bushels.  SOYBEAN OIL (cont.) -  1986/87             1985/86  04/09/87  03/09/87  04/09/87  03/09/87  Usage (mln lbs) --  Domestic  10,500    10,500    10,053   10,053  Exports   1,350     1,350     1,257    1,257  Total  11,850    11,850    11,310   11,310  End Stcks   1,360     1,200       947      947  AvgPrice  14.5-16.0  15.0-17.0  18.00    18.00  Note - Average price in cents per lb. Season for soybean oil  begins Oct 1.  SOYBEAN CAKE/MEAL, in thousand short tons --  1986/87            1985/86  04/09/87 03/09/87  04/09/87 03/09/87  Start Stcks     212     212       387     387  Production  26,558  26,203    24,951  24,951  Total  26,770  26,415    25,338  25,338  Note - 1985/86 production estimates based on October year  crush of 1,060 mln bushels.  SOY CAKE/MEAL (cont.) -  1986/87            1985/86  04/09/87 03/09/87  04/09/87 03/09/87  Usage (thous short ton s) --  Domestic   20,000  19,750    19,090  19,118  Exports    6,500   6,350     6,036   6,008  Total   26,500  26,100    25,126  25,126  End Stcks      270     315       212     212  AvgPrice  145-150  145-150   154.90  154.90  Note - Price in dlrs per short ton. Season for soybean cake  and meal begins Oct 1.  COTTON --  1986/87            1985/86  04/09/87 03/09/87  04/09/87 03/09/87  Area (mln acres) --  Planted  10.06   10.06     10.68   10.68  Harvested   8.49    8.49     10.23   10.23  Yield (lbs)    549     553       630     630  Supply (mln 480-lb bales) --  Start Stks-X   9.35    9.35      4.10    4.10  Production   9.70    9.79     13.43   13.43  Ttl Supply-Y  19.06   19.14     17.57   17.57  X - Based on Census Bureau data. Y - Includes imports.  COTTON (cont.) -  1986/87           1985/86  04/09/87 03/09/87  04/09/87 03/09/87  Usage --  Domestic   7.10    7.01     6.40    6.40  Exports   6.66    6.76     1.96    1.96  Total  13.76   13.77     8.36    8.36  End Stocks   5.40    5.49     9.35    9.35  Avge Price  51.7-X  51.7-X   56.50   56.50  X - 1986/87 price is weighted average for first five months of  marketing year, not a projection for 1986/87. Average price in  cents per lb. Cotton season begins August 1.  RICE  1986/87            1985/86  04/09/87 03/09/87  04/09/87 03/09/87  Acreage (mln acres) --  Planted   2.40    2.40      2.51    2.51  Harvested   2.38    2.38      2.49    2.49  Yield (lbs)  5,648   5,648     5,414   5,414  Supply (mln cwts) --  Start Stcks   77.3    77.3      64.7    64.7  Production  134.4   134.4     134.9   134.9  Imports    2.2     2.2       2.2     2.2  Total  213.9   213.9     201.8   201.8  RICE (cont.)  1986/87            1985/86  04/09/87 03/09/87  04/09/87 03/09/87  Usage (mln cwts) --  Domestic   67.0    67.0      65.8    65.8  Exports   80.0    80.0      58.7    58.7  Total-Y  147.0   147.0     124.5   124.5  End Stocks   66.9    66.9      77.3    77.3  CCC Stocks   42.9    42.9      41.5    41.5  Free Stocks   24.0    24.0      35.8    35.8  AvgPrice 3.45-4.25 3.45-4.25  6.53    6.53  Note - Average price in dlrs per CWT. Y-Rough equivalent.  N.A.-Not Available, USDA revising price definition due to  marketing loan. Rice season begins August 1.  SORGHUM  1986/87            1985/86  04/09/87 03/09/87  04/09/87 03/09/87  Yield (bu)  67.7    67.7     66.8    66.8  Supply (mln bu) --  Start Stcks   551     551      300     300  Production   942     942    1,120   1,120  Total 1,493   1,493    1,420   1,420  Usage (mln bu) --  Feed   550     575      662     662  Other    30      30       29      29  Ttl Domest   580     605      691     691  SORGHUM (cont.) -  1986/87            1985/86  04/09/87 03/09/87  04/09/87 03/09/87  Exports     225     225       178     178  Total Use     805     830       869     869  End Stocks     688     663       551     551  Avge Price  1.30-50  1.30-50    1.93    1.93  Note - Price in dlrs per bushel. Sorghum season begins Sept 1.  BARLEY  1986/87            1985/86  04/09/87 03/09/87  04/09/87 03/09/87  Yield (bu)  50.8    50.8      51.0    51.0  Start Stocks   325     325       247     247  Production   610     610       591     591  Imports     5       5         9       9  Total   941     941       847     847  BARLEY (cont.)  1986/87            1985/86  04/09/87 03/15/87  04/09/87 03/15/87  Usage (mln bu) --  Feed  300    300       333    333  Other  175    175       167    167  Ttl Domest  475    475       500    500  Exports  150    150        22     22  Total Use  625    625       522    522  End Stocks  316    316       325    325  AvgPrice 1.45-65  1.45-65  1.98   1.98  Note - Average price in dlrs per bushel. Barley season begins  June 1.  OATS - in mln bushels  1986/87            1985/86  04/09/87 03/09/87  04/09/87 03/09/87  Yield (bu)  56.0   56.0      63.7   63.7  Start Stcks   184    184       180    180  Production   385    385       521    521  Imports    30     30        28     28  Total   598    598       729    729  OATS, in mln bushels (cont.)  1986/87             1985/86  04/09/87 03/09/87   04/09/87 03/09/87  Usage --  Feed   400     400       460     460  Other    85      85        83      83  Ttl Domes   485     485       543     543  Exports     2       2         2       2  Total   487     487       545     545  End Stcks   111     111       184     184  AvgPrice 1.00-20  1.00-20    1.23    1.23  Note - Average price in dlrs per bushel. Oats season begins  June 1.  LONG GRAIN RICE, in mln CWTs (100 lbs) --  1986/87            1985/86  04/09/87 03/09/87  04/09/87 03/09/87  Harvested --  Acres (mln)   1.83    1.83     1.94    1.94  Yield (lbs)  5,358   5,358    5,168   5,168  Start Stks   49.3    49.3     37.7    37.7  Production   97.8    97.8    100.4   100.4  Ttl Supply  148.6   148.6    140.1   140.1  Note -- Starting Stocks does not include broken kernels --  Supply minus use does not equal ending stocks in breakdowns.  Total Supply includes imports but not broken kernels.  LONG GRAIN RICE, in mln CWTs (100 lbs), cont. --  1986/87           1985/86  04/09/87 03/09/87 04/09/87 03/09/87  Domestic Use   43.0    43.0      48.8    48.8  Exports   65.0    60.0      42.0    42.0  Total Use  108.0   103.0      90.8    90.8  End Stocks-X   40.6    45.6      49.3    49.3  AvgPric 3.45-4.25 3.45-4.24   6.86    6.86  Note - Average price in dlrs per cwt. X-Broken kernels not  included -- supply minus use does not equal ending stocks in  breakdowns. Rice season begins August 1.  MEDIUM, SHORT GRAIN RICE - in mln CWTs (100 lbs) --  1986/87            1985/86  04/09/87 03/09/87  04/09/87 03/09/87  Harvested --  Acres (mln)   0.55    0.55     0.55    0.55  Yield (lbs)  6,651   6,651    6,258   6,258  Start Stks   26.7    26.7     25.7    25.7  Production   36.6    36.6     34.5    34.5  Ttl Supply   65.3    65.3     61.7    61.7  Note -- Starting Stocks does not include broken kernels --  Supply minus use does not equal ending stocks in breakdowns.  Total Supply includes imports but not broken kernels.  MEDIUM, SHORT GRAIN RICE, in mln CWTs (100 lbs), cont. --  1986/87          1985/86  04/09/87 03/09/87 04/09/87 03/09/87  Domestic Use   24.0    24.0      17.0    17.0  Exports   15.0    20.0      16.7    16.7  Total Use   39.0    44.0      33.7    33.7  End Stocks-X   24.5    19.5      26.7    26.7  AvgPric 3.45-4.25  3.45-4.25  5.91    5.91  Note - Average price in dlrs per CWT. X-Broken kernels not  included - supply minus use does not equal ending stocks in  breakdowns. Rice season begins August 1.  NOTES ON U.S. SUPPLY/DEMAND TABLES  -- N.A. - Not available.  -- Totals may not add due to rounding.  -- Figures for 1986/87 are midpoint of USDA range.  -- Feed usage for corn, wheat, soybean, feedgrains,  sorghum, barley, oats includes residual amount.  -- Residual amount included in rice and medium/short grain  rice domestic usage.  -- Rice, long grain, and medium/short grain rice average  price for 1985/86 estimates and 1986/87 projections are market  prices and exclude cash retained under the marketing loan since  April, 1986.  Reuter 
 USDA ESTIMATES SOUTH AFRICA CORN CROP, EXPORTS	 WASHINGTON, April 9 -	 The U.S. Agriculture Department  forecast South Africa's 1986/87 corn crop at 8.50 mln tonnes,  vs 9.50 mln tonnes last month. It estimated the 1985/86 crop at  8.08 mln, vs 8.08 mln last month.  USDA forecast South African 1986/87 corn exports at 2.10  mln tonnes, vs 3.00 mln tonnes last month, and 1985/86 exports  at 2.75 mln tonnes, vs 2.75 mln tonnes last month.  Reuter 
 GRAIN SHIPMENTS TO THE USSR -- USDA	 WASHINGTON, April 9 -	 There were 287,700 tonnes of U.S.  corn shipped to the Soviet Union in the week ended April 2,  according to the U.S. Agriculture Department's latest Export  Sales report.  That compares with 106,200 tonnes shipped in the prior  week.  There were no wheat or soybean shipments during the week.  The USSR has purchased 2,825,600 tonnes of U.S. corn, as of  April 2, for delivery in the fourth year of the U.S.-USSR grain  agreement.  Total shipments in the third year of the U.S.-USSR grains  agreement, which ended September 30, amounted to 152,600 tonnes  of wheat, 6,808,100 tonnes of corn and 1,518,700 tonnes of  soybeans.  Reuter 
 THAI RICE EXPORTS FALL IN WEEK TO APRIL 7	 BANGKOK, April 10 -	 Thailand exported 56,652 tonnes of rice  in the week ended April 7, down from 75,160 tonnes the previous  week, the Commerce Ministry said.  It said the government and private exporters shipped 41,607  and 15,045 tonnes respectively.  Private exporters concluded advance weekly sales for 48,062  tonnes against 22,086 tonnes the previous week.  Thailand exported 1.29 mln tonnes of rice so far in 1987,  down from 1.39 mln tonnes a year ago.  It has commitments to export a further 353,045 tonnes this  year.  REUTER 
 ELECTROLYTIC REFINING LOWERS COPPER PRICE	 MELBOURNE, April 13 -	 The Electrolytic Refining and  Smelting Co of Australia Pty Ltd said it lowered its ex-works  Port Kembla Refinery Copper Price by 20 dlrs to 2,160 dlrs a  tonne, effective today.  REUTER 
 ST.GOBAIN UNIT ISSUES ECU BOND WITH GOLD WARRANTS	 LONDON, April 13 -	 St.Gobain Netherlands, guaranteed by Cie  de St.Gobain, is issuing a 75 mln ECU bond with gold warrants  attached, due May 6, 1992 carrying a 4-1/2 pct coupon and  priced at par, lead manager Salomon Brothers International Ltd  said.  Fees comprise 1-1/4 pct selling concession with 5/8 pct for  management and underwriting combined. Listing is in Luxembourg.  Each 1,000 ECU bond carries one gold warrant exercisable  from May 6, 1987 until May 6, 1990 entitling the holder to  purchase one ounce at an exercise price of 490 dlrs.  REUTER 
 SIX KILLED IN SOUTH AFRICAN MINE	 JOHANNESBURG, April 13 -	 Six workers were killed and four  injured in an undeground rock fall at South Africa's second  largest gold mine today, the mine owners said.  It was the third major mine accident in the country in less  than a week.  Thirty four workers died in methane gas explosion at a coal  mine last Thursday.  Reuter 
 COLOMBIA JUNE COFFEE REGISTRATIONS OPENED	 BOGOTA, April 13 -	 Colombia has opened coffee  registrations for June shipment with no limit set for private  exporters, as in April and May, a National Coffee Growers'  Federation official said.  Colombia has sold an average of 900,000 bags per month  since the beginning of the calendar year.  Reuter 
 HOMESTAKE MULLS BUYING ORE RESERVES	 NEW YORK, April 13 -	 Homestake Mining Co is considering  acquiring more gold ore reserves in addition to the company's  exploration efforts, chief executive Harry Conger told Reuters  in an interview.  Conger said, "the move to consider acquisitions represents  a change in the company's acquistions policy."  Conger said all of Homestake's current cash position of 120  mln dlrs would be available to acquire reserves. In addition,  Homestake has two lines of credit totaling 150 mln dlrs which  have not been drawn on and could be used to finance an  acquisition, he said.  Conger said he anticipates 1987 exploration budget will be  about the same as 1986 spending of 27.3 mln dlrs.  Conger said exploration for precious metals may be slightly  higher than last year's spending of 17.7 mln dlrs while oil and  gas exploration spending will be slightly less than last year's  9.6 pct.  Conger said he sees Homestake's 1987 gold production about  the same as 1986 gold production of 669,594 ounces.  However, 1987 first quarter production from its McLaughlin  reserve will be about 10 pct lower than last year's 45,400  ounces due to start-up production problems.  He said he believes gold prices will hold above the 400  U.S. dlr an ounce level for the rest of 1987.  Reuter 
 BETHLEHEM STEEL CORP & lt;BS > INCREASES PRICES	 BETHLEHEM, Pa., April 24 -	 Bethlehem Steel Corp said it was  raising the prices by 30 dlrs per ton on section extras on  certain wide planned structural shapes.  The increase will affect seven wide planned section groups  and will increase the price to 500 dlrs per ton from 470 dlrs  per ton, effective May 3, the company said.  Reuter 
 COMINCO & lt;CLT > B.C. WORKERS AUTHORIZE STRIKE	 TRAIL, British Columbia, April 24 -	 Cominco Ltd's 3,200  unionized workers at its Trail and Kimberley, British Columbia  lead-zinc operations voted 94 pct in favor of authorizing a  possible strike, the union said in reply to an inquiry.  Their two-year contracts expire on April 30.  A spokesman for the United Steelworkers of America, which  represents the workers, reiterated that private mediation talks  are set for Monday and that no strike date had been set.    The union has said it is asking for a three pct wage hike  in each year of a proposed two-year contract, while Cominco has  offered a 40 ct an hour increase in the third year of a  proposed contract if workers agree to loosen rules on job  classifications.  The average unionized worker's wage is now about 14.78 dlrs  an hour.  Cominco's Trail operations produced 240,000 long tons of  zinc and 110,000 long tons of lead in 1986. The Sullivan mine  at Kimberley produced 2.2 mln long tons of ore last year, most  for processing at the Trail smelter.  Reuter 
 NO MEXICO REACTION TO PERU SILVER TALKS PROPOSAL	 Mexico city, april 24 -	 mexico's minister of energy and  mines, alfredo del mazo, has yet to reply to a peruvian  invitation for ministerial-level talks on bilateral cooperation  in silver marketing, a ministry spokesman said.  Peruvian officials said they extended the invitation  earlier this week and that it was possible the talks could be  held within the next 15 days.  Meanwhile, a banco de mexico spokesman confirmed that  mexican central bank head miguel mancera aguayo held private  talks here yesterday with the president of the peruvian central  bank leonel figueroa.  Reuter 
 MEXICO YET TO REPLY TO PERU'S SILVER INVITATION	 MEXICO CITY, April 24 -	 Mexico's minister of energy and  mines, Alfredo del Mazo, has yet to reply to a Peruvian  invitation for ministerial-level talks on bilateral cooperation  in silver marketing, a ministry spokesman said.  Peruvian officials said they extended the invitation  earlier this week and that it was possible the talks could be  held within the next 15 days.  Meanwhile, a Banco de Mexico spokesman confirmed that  Mexican central bank head Miguel Mancera Aguayo held private  talks here yesterday with the president of the Peruvian central  bank.  The spokesman said the talks were in line with mutual  consultation agreements made during Peruvian President Alan  Garcia's visit to Mexico in march.  Press reports citing diplomatic sources at the meeting said  the two central bank heads discussed means of coordinating  actions in the silver market.  Mexico is the world's leading silver produer. It produced  about 73.9 mln troy ounces in 1986, according to preliminary  government figures.  Peru, the second biggest producer of the precious metal,  earlier this week froze new silver sales in an effort to  stabilize silver prices. It produced 57 mln troy ounces in  1986.  Reuter 
 FMC & lt;FMC > TO SELL STAKE IN GOLD PROPERTIES	 CHICAGO, April 24 -	 FMC Corp said it will consider selling  to the public a minority interest in a subsidiary that will  hold the company's North American gold and precious metals  properties and operations.  FMC said its board also authorized the transfer of the  metals properties to the newly formed unit.  An unnamed investment advisor has been retained to help in  evaluating alternatives on the properties, which consist of a  wholly owned gold mine at Paradise Peak, Nev., a 30 pct  interest in a gold mine at Jerritt Canyon, Nev., and a 28 pct  interest in a gold mine near Austin, Nev.  Reuter 
 USDA SEEKING COMMENTS ON 1988 FARM PROGRAMS	 WASHINGTON, April 24 -	 The U.S. Agriculture Department is  seeking comments on common provisions of the 1988 wheat,  feedgrains, cotton and rice programs.  It said many program provisions are common to all the  commodity programs and decisions made in regard to one will  likely apply to other program crops.  It asked for specific comments on the percentage reduction  for acreage limitation requirements under the wheat program,  the loan and purchase level, and whether a marketing loan, the  inventory reduction program and related provisions  should be implemented.  The percentage acreage reduction of between 20 and 30 pct  must be announced no later than June 1, 1987 for wheat, it  said.  Reuter 
 TOP NATIONS AGREE OVER FARM TRADE ISSUE	 KASHIKOJIMA, JAPAN, April 26 -	 Ministers from the major  trading nations have for the first time made a concerted  commitment to review the whole distorted structure of world  farm trade, Canadian Trade Minister Patricia Carney said.  "We think we can get some movement on this," she told  reporters at a briefing following informal talks with the U.S.,  Japanese and European Community (EC) trade ministers here.  Canada, strongly supported by Australia, has championed the  cause of both developed and developing nations which have seen  their farm trade suffer largely due to a farm subsidy war  between the United States and the EC.  Japan"s protected agricultural markets have also attracted  criticism.  The issue is of extreme importance to many indebted,  developing nations which often rely totally on one or two farm  sector exports to sustain their economies but which cannot  compete with the subsidised U.S. And EC products.  "Canada can afford so many billions of dollars (to do so),  but many countries cannot," said Carney.  She said the EC had changed its previous unhelpful attitude  and had raised proposals similar to those of Canada under which  to discuss the issue.  Talks will now continue at the Organisation of Economic  Cooperation and Development (OECD), which meets next month, and  at the series of discussions on a new world trading framework,  begun at Punta del Este, Uruguay, last year.  Carney said Japan had also agreed to take a positive role  in the farm talks, and that the United States was willing to  see short-term progress, as long as long-term solutions were  not affected.  Canada"s five point programme demands that farm product  prices must reflect open world market prices, that any support  for farmers incomes should not be linked to production  incentives, that there should be no new farm subsidies, no new  farm import barriers, and that any decisions should be  implemented collectively.  The farm trade problem was almost completely ignored by the  industrialised world until Canada raised it last year at the  Tokyo summit of seven leading industrial powers.  The distortions created by subsidies and protectionism have  created some absurd situations.  For example, to protect its farmers the Japanese government  buys Canadian wheat and sells it at 10 times the purchase price  to Japanese consumers.  "So we end up borrowing in the Japanese (financial) market  to help pay subsidies to keep our farmers while they make a  profit on our wheat to help pay the price support for their  farmers," said Carney.  The problem causes pain for many nations and increases the  already dangerously high debts that they owe mainly to U.S.,  Japanese and EC banks.  REUTER 
 JAPANESE FIRMS TO SELL AUSTRALIAN GOLD COINS	 TOKYO, April 27 -	 Three Japanese trading companies and one  coin retailer will start selling Australia's Nugget gold coins  in Japan from May 12 after actively buying at the first  international trading of the coins last Thursday, officials  involved in the sale said.  They estimated Japanese companies bought 30 pct of 155,000  ounces sold on Thursday.  The coins are likely to be sold in Japan at prices similar  to the South African krugerrand.  REUTER 
 VENEZUELA FINANCE MINISTER TO SEEK JAPANESE CREDIT	 CARACAS, April 27 -	 Finance minister Manuel Azpurua said he  will visit Japan in mid-May to seek new credits for planned  expansion in Venezuela's state-owned aluminum, steel and  petrochemical industries.  Azpurua told reporters he will be accompanied by central  bank president Hernan Anzola and director of public finance  Jorge Marcano.  "The idea is to hold meetings with Japanese economic and  financial authorities, with the banks which have business and  credits in Venezuela and with some of the Japanese companies  already active here," Azpurua said.  Azpurua said he was optimistic about the trip, in light of  Japan's recent announcement it will disburse 30 billion dlrs in  new credit to Latin American countries.  "I think this trip is being taken at an opportune time and  will allow us to reveal the potencial which this country holds  for the Japanese economic community," Azpurua said.  He would not say how much Venezuela will seek in credits  from Japan.  REUTER 
 WORLD MARCH ZINC SMELTER STOCKS FALL 31,800 TONNES	 EINDHOVEN, April 27 -	 Total world closing stocks of primary  zinc at smelters, excluding Eastern Bloc countries, fell 31,800  tonnes to 432,800 tonnes in March from a corrected February  figure of 464,600 tonnes, provisional European Zinc Institute  figures show.  This compares with 403,300 tonnes in March last year.  Total European stocks of primary z inc, excluding  Yugoslavia, fell 10,100 tonnes to 149,900 tonnes in March from  160,000 tonnes in February, against 131,300 tonnes in March  last year.  REUTER 
 NORTHERN VIETNAMESE RICE CROP THREATENED	 BANGKOK, April 27 -	 Insects are threatening to destroy  367,000 hectares or about one-third of the spring rice crop in  northern Vietnam, Hanoi radio reported.  Drought has hit another 189,000 hectares, with 40,000  hectares very badly affected, it said.  Insecticides are in short supply so only the most  endangered rice fields should be sprayed, the radio added.  The affected areas -- the Red River delta and other coastal  areas in northern Vietnam -- produce between 30 to 40 per cent  of the country's rice.  The radio report, monitored in Bangkok on April 20 but only  translated here over the weekend, said the threatened damage  was spread over twice as large an area as last year.  Vietnam has not been able to grow enough food for its  expanding population, with the Soviet Union buying rice in  Thailand and Burma in recent years for supply to Vietnam.  Vietnam produced 18.2 million tonnes of food, most of it  rice, last year and hopes to boost that to 23-24 million tonnes  by 1990.  REUTER 
 U.S. OFFICIAL SAYS EAGLE GOLD COIN HAS MAJOR SHARE	 TOKYO, April 27 -	 A visiting U.S. Mint official told  reporters that American Eagle gold coins took the largest share  of the world bullion coin market in 1986 despite the fact sales  only began in October last year.  She said the U.S. Coins accounted for 37 pct of the world  market share, against 31.9 pct for Canadian coins and 18.6 pct  for South African. She gave no sales volume figures for 1986.  Sales of the U.S. Coins in the first six months of issue  totalled 2.32 mln ounces, exceeding the target of 2.2 mln in  the first year, she said.  Japan alone has imported 140,000 ounces of the coins since  November, the official said, adding that the U.S. Mint sees  Japan as a major market.  Sumitomo Corp and Tanaka Kikinzoku KK already distribute  the coins in Japan, she said. Nissho Iwai Corp has just been  appointed a distributor, she added.  The U.S. Started issuing gold bullion coins, following the  ban on imports of South African Krugerrands to the U.S., In a  bid to offer investment grade coins to investors, the Mint said  in a statement.  REUTER 
 GERMAN SUGAR BEET PLANTINGS MOST ADVANCED IN SOUTH	 HAMBURG, April 27 -	 Sugar beet plantings are almost  complete in southern West Germany but are lagging behind in  other regions, trade sources said.  In the west of the country, about 60 pct of the plantings  were completed, while in the north only 40 pct of the sugar  beet area has been sown, they said.  The weather is forecast to stay mild in northern West  Germany in the coming days and more planting progress is  expected there, they said.  This year's area sown to sugar beets is likely to fall to  38,500 hectares from around 40,000 last year.  REUTER 
 VENEZUELA FINANCE MINISTER TO JAPAN IN MID-MAY	 CARACAS, April 27 -	 Finance Minister Manuel Azpurua said  today he will travel to Japan in mid-May to seek new credits  for planned expansions in Venezuela's state aluminum, steel and  petrochemical industries.  Azpurua told reporters he will be accompanied by Central  Bank President Hernan Anzola and Director of Public Finance  Jorge Marcano.  'The idea is to hold meetings with Japanese economic and  financial authorities, with the banks which have business and  credits in Venezuela and with some of the Japanese companies  already active here,' Azpurua said.  Reuter 
 JAPAN STEELMAKERS, CANADA MINE DISCUSS COAL PRICE	 TOKYO, April 27 -	 & lt;Quintette Coals Ltd > of Canada and  Japanese steelmakers failed to agree on the Canadian coal base  price over four years from April 1, but agreed to have another  round of talks in late May, officials involved said.  Japanese firms have asked for the base price to be set at  44 U.S. Dlrs per tonne (FOB), sharply lower than the 75 to 76  dlrs of the past four years, they told Reuters. The base price  is reviewed every four years under the long-term accord.  The Canadian mine insisted on maintaining the present  price, they said.  Japanese firms bought 4.75 mln tonnes of Quintette coal in  1986/87, and plan to buy the same volume in 1987/88 depending  on the result of the talks, the officials said. They added  Japan has no plans to withdraw its price cutback request due to  recent falls in coking coal prices on the world market.  Meanwhile & lt;Gregg River Co > of Canada has agreed on a  Japanese proposal to set a temporary price of 75.80 Canadian  dlrs on and after May shipment following the failure of the  1987/88 price talks, they said. Japanese firms plan to buy  150,000 tonnes of Gregg River coal for May shipment and hold  another round of talks with Gregg in late May, they added.  REUTER 
 SOY PLANTS MIGHT BE USED TO DRAW CADMIUM FROM SOIL	 ROTTERDAM, April 27 -	 Effective extraction of the toxic  metal cadmium from soil may at last be feasible using soybean  plants, research in the Netherlands by a Belgian-based  environment group shows.  Cadmium, naturally drawn up by plants and passed on to  consumers, has been shown to produce kidney damage and  resulting calcium loss as well as causing high blood pressure  and cancers, a spokesman for the Ecological Life and  Cultivation (VELT) said.  Three years of experiments by the organization showed  soybean plants extracted up to 16 pct of soil-borne cadmium,  which went into the leaves and not into the beans themselves.  Cadmium is present in the soil because of emissions in the  past by factories producing non-ferrous metals, the spokesman  said.  "Although many of these factories are now using far safer  methods of manufacture, the cadmium is already in the soil and  until now there has been no way to get rid of it," he said.  Reuter 
 SHULTZ SAYS U.S. WHEAT BONUS OFFER UP TO USDA	 WASHINGTON, April 28 -	 U.S. Secretary of State George  Shultz said it was up to the Agriculture Department to decide  whether to offer subsidized wheat to the Soviet Union.  Shultz told the Newspaper Farm Editors of America that a  wheat bonus offer to the Soviet Union "is something that I  basically leave to the Agriculture Department to figure out."  Last year, Shultz spoke out against President Reagan's  decision to offer subsidized U.S. wheat to the Soviet Union --  an offer Moscow spurned.  "I've always been a little put off by the idea that we would  arrange our food supplies so as to price them in such a way  that the Soviet housewife could buy American-produced food for  less than the American housewife could buy it," Shultz said.  "It also seems to me that if we are going to sell in world  markets, we have to meet the price," he added.  Shultz called proposals to broaden the eligibility criteria  of USDA's export enhancement program (EEP) to include all U.S.  customers "questionable."  An across-the-board EEP would mark a "considerable change" in  the current program, which Shultz said is designed "to say to  other countries that subsidize, particularly the European  Common Market, that we're not going to give up our markets to  those subsidized sales and we'll have a little kit bag that  will meet that competition and hold our markets for our  farmers."  "If you just go across-the-board and subsidize everything,  that's a different order of program and seems to me quite  questionable," he said.  Reuter 
 RENISON GC AND CITY RESOURCES SET PNG GOLD VENTURE	 SYDNEY, June 1 -	 Renison Goldfields Consolidated Ltd  & lt;RGFJ.S > (RGC) and explorer & lt;City Resources Ltd > have agreed in  principle on a joint venture to re-examine the Bulolo alluvial  gold field in Papua New Guinea, City Resources said.  City Resources would progressively earn up to 66.66 pct of  RGC's Prospecting Authority 585, which covers all the field, by  spending a total of 6.5 mln kina, it said in a statement.  It said it believed Bulolo was not fully exploited in the  past, noting the literature refers to heavy gold losses in  tailings during dredging from 1931 to 1967 which produced a  total of 2.1 mln ounces.  City Resources also said previous dredging was only carried  out to a depth of 36 metres and high grade gold values are  reported to at least 60 metres in the central part of the  Bulolo Valley and possibly as deep as 90 metres.  In its productive life, recovered average grade at Bulolo  was 0.3 rpt 0.3 grams a tonne from some 207 mln cubic metres of  gravel, it said. City Resources will act as operator.  The Bulolo field, in Morobe Province, was the first  successful gold mining operation of & lt;Placer Development Ltd >   after it was floated in Canada in 1926. It operated the field  until dredging ceased in 1967.  REUTER 
 COMINCO & lt;CLT.TO > UNION REJECTS CONTRACT	 Trail, British Columbia, June 1 -	 Three United  Steelworkers of America locals on strike at Cominco Ltd  rejected a tentative three-year contract, a union  representative said.  "The vote was 1,229, or 54.5 pct, against, and 1,028, or  45.5 pct, for the contract. Eighty-one pct of the membership  voted," he said.  The union representative said that the pact offered cost  of living increases designed to keep pace with inflation, but  contained no wage increase.  The locals' bargaining committees are expected to meet and  prepare for the reopening of negotiations with Cominco, he  said.  The three locals cover about 2,600 production and  maintenance workers at Cominco's Trail smelter and Kimberley,  B.C. lead-zinc mine.  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.  The two Steelworkers locals representing the office and  technical workers have not negotiated since May 21.  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.  Each of the five locals have separate contracts, all of  which expired April 30, but the main issues are similar.    The union had requested a three pct wage increase in each  year of a two-year contract. Cominco had pressed for a  three-year contract and some loosening of the rules on job  classifications.  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. 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.  The smelter also produced cadmium, bismuth and indium.  Revenues from the Trail smelter totalled 356 mln Canadian  dlrs in 1986.  Reuter 
 NORTHGATE QUEBEC GOLD WORKERS END STRIKE	 TORONTO, June 1 -	 Northgate Exploration Ltd said  hourly-paid workers at its two Chibougamau, Quebec mines voted  on the weekend to accept a new three-year contract offer and  returned to work today after a one-month strike.  It said the workers, represented by United Steelworkers of  America, would receive a 1.21 dlr an hour pay raise over the  life of the new contract and improved benefits.  Northgate, which produced 23,400 ounces of gold in first  quarter, said that while the strike slowed production, "We are  still looking forward to a very satisfactory performance."  The Chibougamau mines produced 81,500 ounces of gold last  year.  Reuter 
 ONIC TENDERS WEDNESDAY FOR WHEAT FOR PAKISTAN	 PARIS, June 1 -	 The French Cereals Intervention Board  (ONIC) will tender Wednesday for 20,000 tonnes soft wheat for  Pakistan under the French food aid programme, an ONIC official  said.  The grain will be shipped between June 15 and July 15.  ONIC also will hold a tender June 9 for 65,000 tonnes soft  wheat under the European Community food aid programme, for  shipment in bulk during August, the official said.  Reuter 
 EC MINISTERS CONSIDER CUTBACKS IN STEEL SUPPORT	 LUXEMBOURG, June 1 -	 A new steel quota system that would  strictly limit European Community (EC) support to the industry  could be forced on producers if they fail to find their own  solution quickly, officials said.  EC industry ministers meeting here considered two key  proposals aimed at cutting back surplus capacity by 30 mln  tonnes by 1990.  The first would limit the current quota system, which has  protected EC output for seven years, only to flat products and  heavy sections, thereby forcing other types of steel products  into free market competition.  The second proposal would link continuation of a quota  system with progress toward plant closures, although less than  a month ago the EC steelmakers' lobby group Eurofer said they  had abandoned efforts to close plants voluntarily.  The ministers stopped short of imposing their own solution  immediately, instead urging steel producers to try again to  reach agreement on voluntary cutbacks.  The EC Commission has said it will come up with detailed  proposals in July on the future of the EC steel industry and EC  industry ministers meet again in September to reach a final  decision.  Reuter 
 COMINCO SEEKS MEETING WITH STRIKING UNION LOCALS	 TRAIL, British Columbia, June 1 -	 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. lead-zinc mine, a Cominco spokesman said.  It had no meeting scheduled with the other three striking  locals, which rejected a tentative three-year contract  Saturday, Cominco spokesman Richard Fish said.  Fish said the pact that was rejected contained a cost of  living increase tied to the Canadian consumer price index, but  no wage increase. With 81 pct of the membership voting, 54.5  pct voted no and 45.5 pct voted yes, the union said.  The three locals represent about 2,600 production and  maintenance workers, while the remaining two locals cover about  600 office and technical workers.  The office and technical workers last negotiated May 21.  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.  Each of the five locals have separate contracts, all of  which expired April 30, but the main issues are similar.  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. 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.  The smelter also produced cadmium, bismuth and indium.  Trail smelter revenue was 356 mln Canadian dlrs in 1986.  Reuter 
 LTV & lt;QLTV > TO NEGOTIATE WITH STEELWORKERS	 CLEVELAND, June 1 -	 LTV Corp's LTV Steel Corp said it  agreed to resume negotiations with the United Steelworkers of  America at the local plant levels, to discuss those provisions  of its proposal that require local implementation.  The local steelworker union narrowly rejected a tentative  agreement with the comp any on May 14, it said.  LTV also said it agreed to reopen its offer contained in  the tentative agreement reached with the union's negotiating  committee as part of a plan to resolve problems through local  discussions.    Reuter 
 W.R. GRACE & lt;GRA > , BERISFORD PLAN COCOA VENTURE	 NEW YORK, June 2 -	 W.R. Grace and Co said it has agreed to  combine its cocoa processing businesses with those of S. and W.  Berisford PLC.  It said the joint venture, to be 68.4 pct owned by Grace  and 31.6 pct by Berisford, would have annual sales in 1987 of  over 700 mln dlrs.  Grace said the transaction involves the combination of its  cocoa products division and two Berisford cocoa processing  units, which would be operated under Grace management.  The company said Berisford would contribute its Dutch and  West German cocoa subsidiaries and issue new ordinary shares to  Grace in connection with the transaction.  It said closing is  expected by early fall, subject to regulatory approvals.  Reuter 
 SKYLINE & lt;SKX.V > EXPECTS TO BEGIN MINE IN JULY	 VANCOUVER, June 2 -	 Skyline Explorations Ltd said expects  construction can begin next month on a gold mine at Johnny  Mountain Camp, located 600 miles north of Vancouver.  The company said a contract has been let for a 200 to 400  tons per day mill and the company is receiving cooperation from  provincial and federal agencies on its stage one report,  "approval in principal," which is required before actual  construction can begin.  Skyline said it is optimistic the approval in principal  will be received in late June, by which time it expects to have  confirmed threshold tonnage and grade targets so construction  can begin in July.    Skyline said the 1987 exploration drift on 16 vien east at  Johnny Mountain has advanced 320 feet. The vein is continuous,  averaging four feet thick plus an altered mineralized hanging  wall.  It said periodic face samples indicate an average grade of  1.05 ounces per ton of ore ranging from a low of 0.78 ounce per  ton to a high of 55.8 ounces per ton.  Reuter 
 USX & lt;X > UNIT RAISES PRICES ON CERTAIN GRADES	 LORAIN, Ohio, June 2 -	 USX Corp's USS division said it was  raising prices for all hot rolled bar and semi-finished  products 1100 series grades by 10 dlrs per ton effective July  One, 1987.  The company said the increase reflects current market  conditions.  The company could not say what percentage the increase  reflects from current prices, nor could it say how much per ton  the products sell for currently.  Reuter 
 PHELPS DODGE & lt;PD > SEES STRONGER COPPER PRICES	 NEW YORK, June 2 -	 Phelps Dodge Corp officials said good  fundamentals in copper markets should lead to improving prices  for the metal.  In an interview with Reuters, chairman G. Robert Durham  said continued strong demand and low inventories pushed prices  up eight to nine pct on the New York Commodities Exchange last  month.  "Our customers in this country are living off the tailgates  of our trucks," he said, referring to tightness of supply and  strong demand. "The fundamentals are good."    Asked if metal prices will continue to rise, Durham said;  "All I know is, fundamentals cannot be ignored."  He said copper supplies are lower than they have been for  almost 20 years. Last year, copper demand was second highest on  record behind 1984, he said.  Phelps Dodge is the nation's largest copper company, with  annual production expected to reach 500,000 tons this year.    During the interview, executive vice president Douglas  Yearley said he believed it was only a matter of time before  the copper price rose "because there aren't that many new  projects coming on, and demand, short of a major recession,  will continue to grow modestly."  Copper for July delivery rose more than two cts a pound to  more than 69 cents in Comex trading today. A one cent a pound  rise in copper prices yields 10 mln dlrs in annual earnings for  Phelps Dodge, the company said.  "Demand has been surprisingly good in 1987, in construction  and other areas," Yearley said.    New production later this year from a Bingham, Utah, mine  owned by Kennecott Corp, a unit of British Petroleum Co PLC's  & lt;BP > Standard Oil Co, a mine in New Guinea and Phelps Dodge's  own expanded Morenci, Ariz., mine will be offset by production  shortfalls in Mexico and Zambia, he said.  Durham said production costs at the New Mexico-located  Chino mine will be in line with conventional copper production  at the company's other mines by the fourth quarter. The  company's total production costs, including depreciation but  before interest and corporate expense, should be below 50 cts a  pound by late 1989 or 1990, he said.  Reuter 
 CONCENTRATION OF ZINC INDUSTRY SEEN CONTINUING	 AMSTERDAM, June 15 -	 The world's zinc mining and smelting  industry will continue to become more concentrated and more  integrated in the 1990s, Dr Klaus Goekmann, vice-president of  marketing and sales for Cominco Ltd, said.  Opening a Metal Bulletin base metals conference here,  Goekmann forecast the number of individual businesses in the  industry would continue to decline as companies merged or  formed conglomerates with increased market shares.  At the same time, the conglomerates would become more  integrated, handling the entire chain from basic ore production  through marketing, he added.  "The key to future viability will be flexibility. Prices are  likely to remain at current historically low levels at least in  the medium term, and competition with other metals and  materials will continue to intensify," Goekmann said.  "In the past, we have only reacted to changes in the world's  market and economics. In the future, we have to act less  defensively and more aggressively."  The industry also has massive overcapacity and this problem  has to be tackled quickly, he added.  "Attempts in the past to cut out this excess capacity in  Europe have all failed miserably. However, there is some hope  that current efforts may be successful," Goekmann said.  At the same time, companies must move to limit their  geographical and currency risks and become far more marketing  orientated, he added.  "With all these changes and rationalization, the industry  can survive to recover its past strength and profitability.  Without them, the future does not look very rosy," Goekmann  said.  Reuter 
 INT'L PHOENIX ENERGY & lt;IPYV > JOINS GOLD VENTURE	 VANCOUVER, British Columbia, June 15 -	 International  Phoenix Energy Corp said it launched a gold recovery venture  with & lt;Phoenix Exploration and Recovery Inc > and Mexico's  Sistemas Tecnicos De Recuperaciones, Sociedad Anonima de  Capital Variable.  The company said the joint venture will explore and recover  gold, precious metals and artefacts from treasure ships worth  10 billion dlrs reported to have sunk in the harbor area of  Vera Cruz, Mexico.  The company said it expects work to begin in 30 days.  Reuter 
 OLIN & lt;OLN > , NIPPON-GAKKI'S YAMAHA IN PACT	 STAMFORD, Conn., JUne 15 -	 Olin Corp said it formed a joint  venture with the Yamaha Group of Japan's Nippon-Gakki Co LTd to  manufacture Olin's high-performance copper alloys in Japan for  sale in the Far East.  The new firm, Yamaha-Olin Metal Corp, will share facilities  with Yamaha in Iwata, which are expected to come on line in the  third quarter of 1988., it said.  The two companies first joined forces in August 1983 when  Yamaha agreed to process and market one of Olin's alloys. The  agreement led to a 1985 reroll agreement that involved a number  of alloys, it said.  Reuter 
 OLIN NIPPON-GAKKI'S YAMAHA IN PACT	 STAMFORD, Conn., June 15 -	 Olin Corp said it formed a joint  venture with the Yamaha Group of Japan's Nippon-Gakki Co Ltd to  manufacture Olin's high-performance copper alloys in Japan for  sale in the Far East.  The new firm, Yamaha-Olin Metal Corp, will share facilities  with Yamaha in Iwata, which are expected to come on line in the  third quarter of 1988., it said.  The two companies first joined forces in August 1983 when  Yamaha agreed to process and market one of Olin's alloys. The  agreement led to a 1985 reroll agreement that involved a number  of alloys, it said.  Reuter 
 CAOBISCO CONDEMNS EC OILS AND FATS TAX PROPOSAL	 LONDON, June 15 -	 The proposed European Community (EC) levy  on oils and fats has been criticised by CAOBISCO, the  association of EC biscuit, chocolate and confectionery  manufacturers.  In a letter to the President of the Council of Ministers,  M. Eyskens, the association said the tax would cost the EC  biscuit, cake, chocolate and confectionery industries almost  200 mln European currency units per year.  The tax also was contrary to the spirit of the General  Agreement on Tariffs and Trade (GATT) and could prompt U.S.  Retaliatory measures on EC exports, CAOBISCO said.  In a parallel move the British Biscuit, Cake, Chocolate and  Confectionery Alliance has written to U.K. Chancellor of the  Exchequer Nigel Lawson urging him to oppose the levy.  President Charles Gillett said the tax was extending the  Commission's powers by allowing it to set levels of consumer  taxation, an area previously reserved for national treasuries.  Reuter 
 TUNISIA SETS SOFT WHEAT BUYING TENDER ON JUNE 16	 PARIS, June 15 -	 Tunisia has launched a fresh buying tender  for 200,000 tonnes of French soft wheat for tomorrow for  shipping between July and September, trade sources said.  Tunisia has in recent weeks cancelled several tenders,  which are covered by the French government's COFACE export  credits.  Reuter 
 GERMAN STEEL INDUSTRY TO SEEK LAY-OFF FUNDS	 BONN, June 15 -	 The West German Government will be asked  June 16 to provide nearly 850 million marks (470 million  dollars) to lay off or retrain 20,000 steel workers whose jobs  are threatened by the recent slump in the country's steel  industry.  Government spokesman Friedhelm Ost said Chancellor Helmut  Kohl will review a joint proposal by steel employers and trade  unions at a meeting on the ailing industry tomorrow.  Both steel employers and union leaders are expected to tell  Kohl tomorrow that the Government has failed to do enough to  protect German steel firms from subsidies and unfair  competition from other European Community members.  Government sources said Bonn was prepared to take part in a  common effort to find a solution for the steelworkers. But  since the Government is struggling to finance tax cuts by  slashing state subsidies, it is not prepared to pick up the  whole bill for the layoffs, the sources said.  A spokesman for IG Metall, the metalworkers' trade union,  said the proposal seeks redundancy payments to 10,000 workers  in Ruhr and Rhineland plants. Some 6,000 workers would be  redeployed in non-steel making sectors of steel companies,  while a further 4,000 would be eligible for job-retraining  schemes.  The union estimates that the redundancy payments would  total 600 million marks (340 million dollars), while job  retraining schemes would cost a further 240 million marks (130  million dollars).  Up to 30,000 West German steel jobs are at risk in the next  few years following steep losses incurred by the industry since  mid-1986.  Extensive restructuring of the industry in recent years was  unable to compensate for the effects of the weak dollar which  depressed foreign demand for steel, industry sources said.  Reuter 
 COMINCO & lt;CLT.TO > TALKS STILL STALLED	 Trail, British Columbia, June 11 -	 Cominco Ltd has no  contract negotiations scheduled this week with any of the five  striking locals at the Trail smelter and Kimberley lead-zinc  mine, union spokesmen said.  However, leaders of the negotiating teams are trying to set  up an informal meeting to discuss the stalemate, said John  Owens, spokesman for United Steelworkers of America local 480,  which is one of three locals that represents 2,600 production  and maintenance workers.  Owens also said Cominco has said the strike is costing it  five mln Canadian dlrs a day in debt service costs that are not  covered by revenue. He said the company has not estimated total  lost revenue and Cominco spokesmen were not immediately  available for comment.  The strike, which began May nine, also involves two locals  that represent 600 office and technical workers.  The production and maintenance workers three weeks ago  rejected a tentative three-year agreement that provided cost of  living adjustments but no basic wage increase.  Each of the five locals has a separate contract that  expired April 30, but the main issues are similar.  The Trail smelter produced 240,000 long tons of zinc and  110,000 long tons of lead last year. The Sullivan mine at  Kimberley produced 2.2 mln long tons of ore last year, most for  processing at the Trail smelter.  Reuter 
 THREE U.S. EXCHANGES VIE FOR GOLD	 CHICAGO, June 15 -	 The glitter of gold has generated a  three-way competition among the world's largest futures  exchanges for a 100-ounce contract for the precious metal.  When the Chicago Mercantile Exchange (CME) re-introduces  gold futures trading here Tuesday (at 9 a.m. CDT), it will go  toe-to-toe in an uphill battle against the Commodity Exchange  Inc. of New York (Comex), which brokerage executives describe  as the world's precious metals futures capital for  institutional business.  And by autumn, the oldest and biggest exchange, the Chicago  Board of Trade (CBT), expects to join the fray when the  Commodity Futures Trading Commission (CFTC) approves a pending  application for a 100-ounce gold contract to trade side-by-side  with the CBT's smaller, one kilogram (about 2.5 U.S. pounds)  gold futures.  The CME introduced a 100-ounce gold futures contract in  1974, but lack of interest forced it to abandon the instrument  in July 1986.  CME officials said investors and brokerage firms asked the  exchange to reintroduce the contract because of recent  volatility in precious metals. Other factors influencing the  decision may also have been clearing problems in May which  forced the Comex to shorten trading for three straight days in  an effort to clear up a huge backlog of unresolved trades,  especially in silver futures.  Comex's problems may now create a window of opportunity for  other exchanges to successfully offer precious metals  contracts, industry sources say.  But it is much too early to predict whether other exchanges  can inflict serious damage on the Comex' daily trading volume  of more than 40,000 contracts which represents commitments to  buy and sell gold of more than 2 billion dlrs.  While average daily trading in the CBT's smaller gold  contract, aimed at retail customers rather than institutions,  was under 500 contracts per day throughout 1986, it has  surpassed 1,000 contracts daily for the past two months.  "The climate could not be better for this venture by the  CME," said Merrill Lynch Commodity Marketing Vice President Neil  McGarrity.  "Everybody is talking about metals now, and interesting  daily trading ranges provide opportunities for bulls and bears.  There's good trading volume in all world outlets," McGarrity  added.  "The Merc's gold futures would be insurance for dealers,  merchants and customers that there would be a market open for  trading," if heavy gold or silver futures volume causes the  Comex to close early again, said Jack Lehman, senior vice  president and director of commodities for Shearson Lehman Bros.  Inc. and a Comex board member.  Delivery points vary for each exchange's 100-ounce gold  futures. Comex contracts are deliverable through New York  warehouses while the CME contract specifies London delivery  through a CME account at Samuel Montagu and Co. Ltd., a member  of the London gold market. The CBT gold application specifies  delivery from New York and Chicago vaults.  The Comex and the CBT have applied to the CFTC for an  earlier precious metals opening to match the CME's starting  time of 7:20 a.m. CDT. The exchanges said the earlier start  allows for trading before many important government reports are  released at 7:30 a.m. CDT.  CME marketing sources said arbitrage possibilities exist  with side-by-side trading, noting local interests can be  generated by traders dealing in foreign currency and short-term  debt futures along with gold futures contracts to further hedge  their financial risks.  "If the dollar rises, traders can sell currencies and buy  gold," said David Johnson, CME's manager of currency products.  The Chicago Board of Trade sees an extra advantage to gold  trading. "Given our night trading session, we could add either  our pending 100-ounce gold or our existing 5,000-ounce silver  contract to attract overseas business," a CBT official said.  Which market is identified as the precious metal capital  does not appear to be a major issue among professionals.  "We've seen Chicago bring in a new constituency before, with  perhaps different needs," Mocatta Metals Chairman Dr. Henry  Jarecki said.  "Merchants will go to the CME or anywhere to trade a liquid  contract. Our firm is no exception," Jarecki said.  "At worst, even if the CME gold futures fail, the Comex will  be under pressure to improve the integrity of its clearing  processes," a CME official added.  Reuter 
 TAIWAN, URUGUAY IN PRICE DISPUTE OVER SOYBEANS	 TAIPEI, June 16 -	 Uruguayan suppliers have agreed to supply  Taiwan with only 25,000 tonnes of soybeans out of a total  70,000 tonnes agreed in April, a spokesman for the joint  committee of Taiwan's soybean importers told Reuters.  He said a rise in world prices had made the Uruguayans  reluctant to ship any soybeans at the agreed price of 226.56  U.S. Dlrs per tonne.  The Uruguayans agreed to supply part of the shipment after  the Taiwan committee threatened last week to cancel the order,  but they postponed delivery to July 1-20 from the original June  5-25, the committee spokesman said.  Government sources in Montevideo confirmed that Uruguayan  grain exporting firms would ask Taiwan to reconsider prices on  the soybeans but said the government would not intervene in the  dispute.  "The deal was agreed to between two private companies,  without any participation whatsoever from the Uruguayan  government," Uruguyan Agriculture Ministry spokesman Andres  Bonino said.  He added, "Uruguay is not going to export 70,000 tonnes of  soybeans, since total production this year has been lower than  that figure."  The contract called for the Uruguayans to deliver the  70,000 tonnes in two shipments between June 5 and August 10.  Taiwan's ambassador in Montevideo, Henry Wang, told  reporters, "Both countries are finishing details to arrive at a  satisfactory price."  He said the price would be "very advantageous (for Uruguay)  because it will be above the international price."  Taiwan bought some 36,000 tonnes of soybean last year,  making it Uruguay's biggest customer for the oilseed.  Taiwan's joint committee holds a tender today for two  shipments of U.S. Soybeans totalling 87,000 tonnes.  REUTER 
 TAIWAN RAISES SUGAR OUTPUT TARGET FOR 1987/88	 TAIPEI, June 16 -	 Taiwan's target for sugar production in  the 1987/88 season (November/May) has been set at 600,000  tonnes, up from the 479,200 tonnes harvested in 1986/87, a  spokesman for the state-owned Taiwan Sugar Corp told Reuters.  He said the increase was to meet rising local consumption,  estimated at about 500,000 tonnes in calendar 1988 against  470,000 tonnes in 1987. Taiwan would have a surplus for export  of about 100,000 tonnes in 1988, he said.  In 1987 Taiwan would have no exportable sugar for the first  time in 40 years because of typhoon damage to more than 6,000  hectares of canefield in 1986, he said.  REUTER 
 FIJI MAKES SUGAR PAYMENT TO GET HARVEST STARTED	 SUVA, June 18 -	 Fiji sugar farmers will receive an interim  payment on the 1986 crop, four months ahead of schedule, in a  move aimed at getting harvesting of the drought-hit 1987 crop  under way, Governor-general Ratu Sir Penaia Ganilau said.  Industry sources said latest forecasts for the 1987 crop  indicated output of 360,000 tonnes, well down on the record  501,800 tonne tel quel production in the 1986 (May-December)  crop year.  The previous record was set in 1982 when Fiji produced  486,790 tonnes.  For the past month Fiji sugar farmers have delayed  harvesting the 1987 crop pending a response from the  Governor-general to demands following the May 14 coup.  Ganilau said in a statement the Fiji Sugar Corp would make  a payment of five dlrs per tonne against the final payment for  the 1986 crop on the understanding that preparations by growers  for commencement of harvesting would be completed at all mills  by June 23.  Crushing would commence at Labasa and Penang mills on June  23 and at Lautoka and Rarawai mills on June 30, he said.  The interim payment, to be made on or about June 30, is the  full amount of the grower's share of 1986 sugar proceeds  received to-date. The balance will be paid in October.  Growers had also called for the full 1987 forecast price of  23.50 dlrs per tonne of cane to be paid in cash on delivery to  the mill, but this has been rejected by the state controlled  Fiji Sugar Corp, Ganilau said.  However, in addition to the scheduled delivery payment of  14.10 dlrs, an additional sum of 2.35 dlrs, or 10 pct of the  forecast price, would be paid on December 15, on all cane  harvested by November 30, he said.  Ganilau said, "This will be at least one month in advance of  the expected date of payment of the second payment of cane. The  balance of the second payment will be made six weeks after the  end of crushing."  Another demand of Fiji's 22,000 small farmers was that an  estimated 14 mln dlr loan from the Fiji Development Bank (FDB)  for the 1983 cane crop rehabilitation programme be written off.  The FDB rejected this request.  Ganilau said, however, "The bank is prepared to carefully  consider requests for rescheduling loan repayments in cases of  hardship on a case-by-case basis."  In response to a further demand that all soldiers be  removed from the cane growing areas, Ganilau said the army  would restrict its presence in the cane areas.  He said he had directed the authorities to issue permits to  harvesting gangs, cane growers and sugar industry trade unions  to hold the necessary meetings in preparation for the  commencement of harvest.  Senior representatives of the sugar cane growers had  indicated a desire to commence the crush as soon as possible,  he added.  REUTER 
 COFFEE PRICE DROP NOT AFFECTING COLOMBIA'S DEBT	 Bogota, march 4 -	 the sharp fall in international coffee  prices will not affect colombia's external credit situation,  finance minister cesar gaviria told reuters.  "our foreign debt is high, but we can pay, and I hope the  foreign banking community will maintain its position toward us,"  he said.  He said the current decline on world coffee markets was not  totally unexpected and would have no immediate bearing on  colombia's financial state, which he described as sound.  Gaviria said the decline in coffee prices could mean a loss  of 1.5 billion dlrs in revenues for 1987.  The conservative party and the country's largest trade  union called this week for the debt to be rescheduled following  the price drop.  Colombia, the only major latin american country not to have  rescheduled its external public debt, has a total foreign debt  of 13.6 billion dlrs.  Reuter 
 INSPIRATION CUTS COPPER PRICE 0.50 CT TO 74 CTS	 NEW YORK, June 18 -	 Inspiration Consolidated Copper Co, a  subsidiary of Inspiration Resources Corp, said it is lowering  its base price for full-plate copper cathodes by 0.50 cent to  74.0 cents a lb, effective immediately.    Reuter 
 SENATOR DEFENDS U.S. MANDATORY FARM CONTROL BILL	 WASHINGTON, June 18 -	 Sen. Tom Harkin, D-Iowa, defended his  controversial mandatory supply control farm bill and said U.S.  farmers should be allowed to vote in a referendum whether they  approve of the proposal.  The Harkin proposal would set loan rates of 5.17 dlrs per  bushel for wheat, 3.77 dlrs for corn and 9.32 dlrs for  soybeans, all to be put in effect under strict controls on  planted acreage reductions. Present loan rates are 2.28 dlrs  for wheat, 1.92 for corn, and effectively 4.56 for soybeans.  Also under the plan, the U.S. would seek a world market  sharing cartel with the European Community and other exporting  nations, to share-out export markets, Harkin said during the  first of several Senate Agriculture subcommittee hearings  examining farm programs.  Harkin made the following claims in testimony on his  "Family Farm Act."  -- The mandatory control bill would increase farm income  and reduce government spending on agriculture.  -- Harkin said his policy of high price supports would not  ruin U.S. agricultural exports as critics claim, but would  increase overall revenue from exports.  This would be done by seeking agreement among major  exporting countries including the European Community on market  sharing at agreed high prices.  Sen. Christopher Bond, R-Mo., countered during the hearing  that such a grain export cartel is not workable.  -- Harkin acknowledged that higher commodity price supports  would be passed onto consumers, but he said high food prices  stem more from "gouging" by food processing companies than from  high farm product prices.  Harkin cited what he termed "excessive" net returns on  equity over five years of 33.4 pct at Kellogg, 31.9 pct  Monfort, 22.8 pct Nabisco, 22.8 pct ConAgra, 21.2 pct H.J.  Heinz, 19.1 pct Ralston Purina, 17.2 pct Pillsbury and 16.7 pct  Quaker Oats.  -- Harkin said a "legitimate" concern about his bill would  be the impact of higher prices on livestock producers.  He said as a transition to the higher prices, he would  allow livestock producers to purchase Commodity Credit Corp.  grain stocks for three years.  Thereafter, livestock farmers would benefit from a  "predictable and stable" grain price, he said.  -- Harkin said that under his policy approach farm  participation would be no more "mandatory" than the current  farm program. He said farmers now must participate in farm  programs in order to receive credit for planting and to protect  farm income.  Reuter 
 THAILAND REDUCES MAIN RICE CROP PROJECTION	 BANGKOK, March 5 -	 Thailand's main paddy crop is expected  to fall to 15.4 mln tonnes in the 1986/87 (Nov/Oct) season from  a previous 15.68 mln estimate in November and an actual 17.35  mln a year ago, the Thai Rice Mills Association said.  It said a joint field survey late last month by the  association, the Commerce Ministry and the Bank of Thailand  indicated that paddy output in Thailand's northeast region is  lower than expected because of a drought in several provinces.  The association said rice growing areas in Nakhon  Ratchasima, Chaiyaphum, Khon Kaen and Mahasarakam were  especially affected by low rainfalls in the second half of  1986.  It said last November that the drought reduced total  national areas sown with paddy to some 8.25 mln hectares this  year, down from 8.84 mln a year ago.  The main crop represents about 85 pct of Thailand's paddy  output.  REUTER 
 TOTAL ERICKSON & lt;TLE.T > BUYS MINING PROPERTY	 VANCOUVER, B.C., June 19 -	 Total Erickson Resources Ltd and  Consolidated Silver Standard Mines Ltd & lt;CDS.V > said that Total  Erickson has purchased all Consolidated's interests in its Dome  Mountain property for 60,000 Total Erickson shares and 70,000  dlrs in cash.  The companies said the property has several gold-bearing  veins and has considerable exploration potential.  Reuter 
 TUNISIA BUYS 150,000 TONNES FRENCH WHEAT	 ****PARIS, June 19 -	 Tunisia has bought 150,000 tonnes of  French soft wheat for August to December shipment at 76.70 dlrs  per tonne fob with COFACE export credit, trade sources said.  This is the second French soft wheat export sale for the  1987/88 season which starts on July 1 and follows a Brazilian  purchase of 150,000 tonnes.  France sold around 300,000 tonnes of soft wheat to Tunisia  during the 1986/87 season.  Reuter 
 ICCO buffer stock manager to buy 5,000  tonnes cocoa Monday, June 22 - official 	(NO DATE)	(NO TEXT)
 NORANDA BRUNSWICK MINERS VOTE MONDAY ON CONTRACT	 TORONTO, June 19 -	 Noranda Inc said 1,100 unionized workers  at its 63 pct-owned Brunswick Mining and Smelter Corp lead-zinc  mine in New Brunswick would start voting Monday on a tentative  contract pact.   Company official Andre Fortier said "We are hopeful that we  can settle without any kind of work interruption."  Fortier added that Brunswick's estimated 500 unionized  smelter workers were currently meeting about a Noranda contract  proposal and would probably vote next week. The mine's contract  expires July 1 and the smelter's on July 21.  The Brunswick mine produced 413,800 tonnes of zinc and  206,000 tonnes of lead last year at a recovery rate of 70.5 pct  zinc and 55.6 pct lead. Concentrates produced were 238,000  tonnes of zinc and 81,000 tonnes of lead.  Reuter 
 TURKEY TO IMPORT 100,000 TONNES OF CRYSTAL SUGAR	 ISTANBUL, March 5 -	 Turkey has announced a tender to import  100,000 tonnes of white crystal sugar with an advertisement in  local newspapers.  Turkish Sugar Factories said in the advertisement there was  a 50 pct option to increase or decrease the amount and bids  should reach it before March 24.  The semi-official Anatolian Agency recently quoted Turkish  Minister of Industry and Trade Cahit Aral as saying Turkey will  export 100,000 tonnes of sugar this year and import the same  amount.  REUTER 
 CIPEC STUDYING COPPER MARKET BACKWARDATION	 PARIS, June 29 -	 The Paris-based Intergovernmental Council  of Copper Exporting Countries (CIPEC) is closely studying the  current backwardation in world copper market prices but does  not envisage taking corrective action at present, CIPEC sources  here said.  The organisation's executive and marketing committees  reviewed the current market situation during a series of  meetings here late last week, but took no major decisions.  The sources noted that the backwardation - premium of  nearby supply over forward delivery - dates back several weeks  and is the longest on record.  "It's unusual," one official said, but added CIPEC did not  have any immediate recipe to remedy the situation.  The meetings featured a gathering of the 10 directors of  CIPEC's regional copper development and promotion centres,  which are based in Europe, Japan, India and Brazil.  Their main aim was to prepare the ground for the annual  ministerial meeting of CIPEC, which is scheduled for Zaire in  late September.  The last three ministerial meetings have been held in Paris  to keep down costs.  Reuter 
 GUNNAR GOLD IN VENTURE AGREEMENT	 CALGARY, June 29 -	 Gunnar Gold Inc said it and Mill City  Gold Inc signed an option and joint venture agreement with  Tyranex Gold Inc on the Tyranite gold property in Ontario.  Gunnar said it and Mill City can earn a 50 pct interest in  Tyranex's option to buy the Tyranite gold mine by spending up  to five mln dlrs on exploration, development, and feasibility  studies by 1990.  It said the companies may form a joint venture partnership  to bring the mine to full commercial production.  Reuter 
 RICE RESEARCH INSTITUTE NAMES NEW HEAD	 MANILA, Oct 20 -	 The Manila-based International Rice  Research Institute (IRRI) said West German agricultural  scientist Klaus Lampe will take over as its director-general in  early 1988, succeeding M.S. Swaminathan.  An IRRI statement said Lampe, 56, is currently senior  adviser to the German Agency for Technical Cooperation at  Eschborn and was a former head of the agriculture section of  the Federal Ministry for Economic Cooperation.  It said Swaminathan, who has headed IRRI since 1982, will  concentrate on environmental and agricultural issues.  REUTER 
 SRI LANKA POSTPONES EEP WHEAT TENDER - TRADE	 KANSAS CITY, Oct 20 -	 Sri Lanka has postponed until  November its tender for 75,000 tonnes of wheat under the export  bonus program, originally scheduled for today, U.S. exporters  said.  Reuter 
 BETHLEHEM STEEL SAYS IT IS RAISING STEEL SHEET PRICES BY UP TO 30 DLRS/short ton	(NO DATE)	(NO TEXT)
 IBC SEEKS EXPORT DETAILS TO SET COFFEE QUOTAS	 RIO DE JANEIRO, Oct 20 -	 The Brazilian Coffee Institute  (IBC) has given shippers until close of business on Thursday to  submit details of past export performance in order that  individual quotas can be allocated, an IBC spokesman said.  He told Reuters IBC President Jorio Dauster has confirmed  acceptance of National Coffee Policy Council (CNPC) proposals  to establish individual export quotas based 65 pct on export  performance, 25 pct on stocks and 10 pct by auction.  Shippers can choose their best period of 12 consecutive  months between April 1, 1985, and September 30, 1987, to be  used for calculating the export performace portion.  The IBC will total all the figures, calculate each shippers  participation and use this as a basis for allocation of  individual quotas, the IBC spokesman said.  He said the IBC has already settled with the Sao Paulo  Mercantile Exchange how the auction system will operate.  Shippers can bid a premium over the contribution quota payable  on coffee exports and the succesful bidder will add this  premium to the contribution quota when he submits his export  sales declaration form.  Auctions will not start until after the opening of export  registrations. The spokesman could not say when this might be  but trade sources said an announcement could come at the end of  the week, opening registraions from Monday.  A meeting has been set for tomorrow in Brasilia of the  CNPC's export marketing committee to establish a system for  allocating the 25 pct of export quotas based on stock levels,  the spokesman added.  A system of individual export quotas is being reestablished  in Brazil - a previous system was abandoned in 1985 - to ensure  shipments are kept in line with the country's ICO quota.  Reuter 
 ASA SAYS EC OILSEED POLICY ILLEGAL UNDER GATT	 LONDON, Oct 20 -	 The American Soybean Association (ASA)  denounced European Community (EC) oilseed policies as illegal  under the General Agreement on Tariffs and Trade, and  threatened to make an unfair trade complaint if the EC does not  remedy the situation.  ASA Vice President James Adams told an ASA-sponsored  Outlook 87 conference: "It will be filed unless the EC takes  drastic and immediate steps."  "These subsidies are blatantly unfair and are GATT illegal,  since they were established after the zero soybean duty was  established in 1962," he said.  The ASA's unfair trade petition against the EC would ask  for an investigation and modification of EC oilseed policies to  make the regime non-discriminatory.  The EC in 1962 ruled all EC oilseed imports duty-free, in  an effort to fill its oilseed needs. But EC oilseeds production  has risen dramatically since then.  The EC now guarantees oilseed prices to farmers above world  market levels and is considering implementing a controversial  oils and fats tax.  The subsidies "are obvious attempts to circumvent the zero  duty binding and that makes U.S. Farmers mad as hell," Adams  said.  The ASA is confident the U.S. Congress will support its  trade complaint, Adams said. The ASA also strongly opposes an  EC proposal to tax vegetable and marine oils consumed in the  EC, which will be considered by the EC Commission in December.  U.S. Soybean world market share has declined 35 pct in  volume and 40 pct in value since 1982, primarily as a result of  EC policies, Adams added.  Lord Plumb, European Parliament President and a speaker at  the conference, said the EC expanded oilseed production in 1973  when the U.S. Halted overseas sales of soy products.  Reuter 
 ALGERIA TENDERING FOR BALANCE EEP WHEAT - TRADE	 KANSAS CITY, Oct 20 -	 Algeria is tendering tonight for  225,000 tonnes of hard red winter wheat at 94.00 dlrs per  tonne, c and f, the balance of its original tender under the  export bonus program, U.S. exporters said.  Algeria bought 75,000 tonnes for November and early  December shipmet at that bid, but USDA rejected the bid on  wheat for later shipments, the sources said.  Reuter 
 NO SOVIET WHEAT BONUS TALK PLANNED FOR MEETING	 WASHINGTON, March 5 -	 U.S. Agriculture Secretary Richard  Lyng does not intend to discuss a wheat export enhancement  initiative to the Soviet Union at a cabinet-level Economic  Policy Council meeting set for tomorrow, an aide to Lyng said.  "He (Lyng) does not intend to bring it up," the aide said,  adding that the subsidy offer remains "dormant."  Lyng plans to spend "about five minutes" reviewing the status  of farm legislation on Capitol Hill before the Economic Policy  Council, which is responsible for guiding the administration's  economic policy, the aide said.  The USDA secretary met this morning with members of the  House Foreign Affairs Committee, but the handful of lawmakers  present did not ask whether the administration intended to  offer Moscow a wheat export bonus, the aide said.  Reuter 
 SOVIET 1988 GRAIN TARGET INDICATES 1987 OUTPUT	 WASHINGTON, Oct 19 -	 Recent announcements from Moscow of  next year's grain production targets indicate that the Soviets  are estimating this year's grain crop at 205 to 213 mln tonnes,  Agriculture Department analysts said.  USDA is projecting the Soviet crop at 210 mln tonnes, but  some earlier estimates from Soviet officials were that the 1987  grain crop could match the 1978 record of 237 mln tonnes.  Moscow outlined its economic targets for 1988 on Monday,  putting the grain harvest goal at 235 mln tonnes. An analyst of  Soviet agriculture at USDA noted that a recent article in  Izvestia said Soviet grain production in 1988 is planned to be  "25 to 30 mln tonnes more than expected this year."  "This indicates that their own estimate is for a 205 to 213  mln tonne (grain) crop," the analyst said.    In calculating Moscow's crop estimate, USDA used the 235  mln tonne production goal, as well as a 238 mln tonne figure  published in a Soviet economic journal this month.  USDA's production estimate of 210 mln tonnes reflects a  range of 207 to 212 mln tonnes, a USDA source said.  Late season rains damaged Soviet crops, slowed harvest  progress and lowered Soviet production, analysts said.  While in the U.S. earlier this month, Soviet agriculture  official Viktor Nikonov predicted that the grain crop would be  as good or better than last year's 210 mln tonne harvest.  A member of Nikonov's party commented that although 230 mln  tonnes of grain were in the fields, harvest problems would  bring the final crop down to around 210 mln tonnes.  Reuter 
 ARIZONA SILVER & lt;ASC > REPORTS ON BURRO CREEK	 VANCOUVER, British Columbia, Oct 19 -	 Arizona Silver Corp  said diamond drilling on its Burro Creek Mine Property, located  65 miles southeast of Kingman, Ariz., has begun.  The company said a report indicated that the Burro Creek  project area which covers 800 acres, could have potential  reserves of three to four mln tons of gold and silver  mineralization.  Drill sites have been established and a diamond drilling  program consisting of an initial 5,000 feet of drilling began  October 13, the company said.  Reuter 
 UGANDA PLANS TO EXPORT ROASTED COFFEE TO EUROPE	 KAMPALA, Oct 19 -	 Uganda plans to export roasted coffee to  Europe by the end of 1988, a prominent local businessman said.  A.R. Sendi said on Sunday that Uganda's Ministry of  Industry supports his plan to build a factory to roast, grind  and pack local coffee for export. Construction will start in  December and the factory should be ready by next October.  He said the Marketing Ministry has authorised the Coffee  Marketing Board to supply his company & lt;Unipack > with 24,000  tonnes of beans a year for processing and export. Sendi also  told reporters he had negotiated a 69.7 mln French franc loan  from the Banque Industrielle d'Afrique Oriental in Paris.  Uganda is the world's fifth largest coffee producer, and  expects to produce about 200,000 tonnes this year.  Market sources say roasted coffee exports will benefit  Uganda's economy as they will not be included in the 2.38 mln  (60 kg) bag export quota assigned to the country under the  latest International Coffee Agreement.  In addition, the value of roasted coffee should be  substantially higher than that of unroasted beans, they said.  The U.S. Is the biggest buyer of Ugandan coffee, most of  which is used to produce instant coffee.  REUTER 
 MAGMA LOWERS COPPER 0.75 CENT TO 66 CTS	 NEW YORK, Feb 26 -	 Magma Copper Co, a subsidiary of Newmont  Mining Corp, said it is cutting its copper cathode price by  0.75 cent to 66 cents a lb, effective immediately.  Reuter 
 INDIA BOUGHT AT LEAST EIGHT CARGOES SUGAR--TRADE	 ****LONDON, March 5 -	 India bought eight cargoes of white  sugar at a buying tender this week but also gave sellers  options to sell an extra eight cargoes at the same prices,  traders said.  Four international firms shared the business which gave  each of them sales of two car goes of Mar/Apr shipment sugar at  233 dlrs CIF and options on two cargoes of Apr/May.  This brings recent options India has given traders to some  200,000 tonnes at fixed prices and makes future Indian  purchases very dependent on price fluctuations, traders said.  At 233 dlrs CIF the sugar sold this week was at a discount  of up to 10 dlrs to current prices, some traders said.  Reuter 
 PRODUCER SPLIT HEATS UP COFFEE QUOTA TALKS	 LONDON, March 1 -	 Talks on the possibility of reintroducing  global coffee export quotas have been extended into today, with  sparks flying yesterday when a dissident group of exporters was  not included in a key negotiating forum.  The special meeting of the International Coffee  Organization (ICO) council was called to find a way to stop a  prolonged slide in coffee prices.  However, delegates said no solution to the question of how  to implement quotas was yet in sight.  World coffee export quotas -- the major device used to  regulate coffee prices under the International Coffee Agreement  -- were suspended a year ago when prices soared in reaction to  a drought which cut Brazil"s output by nearly two thirds.  Brazil is the world"s largest coffee producer and exporter.  Producers and consumers now are facing off over the  question of how quotas should be calculated under any future  quota distribution scheme, delegates said.  Tempers flared late Saturday when a minority group of eight  producing countries was not represented in a contact group of  five producer and five consumer delegates plus alternates which  was set up to facilitate debate.  The big producers "want to have the ball only in their court  and it isn"t fair," minority producer spokesman Luis Escalante of  Costa Rica said.  The majority producer group has proposed resuming quotas  April 1, using the previous ad hoc method of carving up quota  shares, with a promise to try to negotiate basic quotas before  September 30, delegates said.  Their plan would perpetuate the status quo, allowing Brazil  to retain almost all of its current 30 pct share of the export  market, Colombia 17 pct, Ivory Coast seven pct and Indonesia  six pct, with the rest divided among smaller exporters.  But consuming countries and the dissident producer group  have tabled separate proposals requiring quotas be determined  by availability, using a formula incorporating exportable  production and stocks statistics.  Their proposals would give Brazil a smaller quota share and  Colombia and Indonesia a larger share, and bring a new quota  distribution scheme into effect now rather than later.  Brazil has so far been unwilling to accept any proposal  that would reduce its quota share, delegates said.  Delegates would not speculate on prospects for agreement on  a quota package. "Anything is possible at this phase," even  adjournment of the meeting until March or April, one said.  If the ICO does agree on quotas, the price of coffee on the  supermarket shelf is not likely to change sinnificantly as a  result, industry sources said.  Retail coffee prices over the past year have remained about  steady even though coffee market prices have tumbled, so an  upswing probably will not be passed onto the consumer either,  they said.  REUTER 
 CHINA ADDS, CANCELS WHEAT COMMITMENTS - USDA	 WASHINGTON, March 5 -	 China has added 90,000 tonnes of U.S.  wheat to its purchases for delivery in the 1987/88 season and  cancelled 30,000 tonnes of wheat purchases for delivery in the  1986/87 season, the U.S. Agriculture Department said.  According to the department's Export Sales Report covering  transactions in the week ended February 26, China has  outstanding wheat commitments for the 1986/87 season of 30,000  tonnes and 420,000 tonnes for delivery in the 1987/88 season.  The wheat season begins June 1.  China has total corn commitments for 1986/87 of 1,011,200  tonnes and soybeans commitments of 157,500 tonnes.  The season for corn and soybeans began September 1.  Reuter 
 GIANT BAY & lt;GBYLF > DETAILS GORDON LAKE DEPOSIT	 VANCOUVER, British Columbia, March 5 -	 Giant Bay Resources  Ltd said a metallurgical study of its Gordon Lake gold deposit  indicated an overall recovery of 95 pct to 96 pct of the gold  can be achieved by either direct cyanidation of ore or  flotation followed by cyanidation of concentrate.  Continuation of an underground program on the property will  begin in June, extending an existing drift along the  200-foot-level where the main ore zone was encountered, Giant  Bay said.  The company did not elaborate on production figures for the  property.  Reuter 
 INDONESIAN SUGAR OUTPUT SEEN SHORT OF TARGET	 JAKARTA, March 2 -	 Indonesia's raw sugar output is likely  to be 1.8 mln tonnes in calendar 1987, unchanged from 1986 and  below the government's 1987 forecast of 2.5 mln, the U.S.  Embassy said in its agricultural outlook for 1987.  Indonesia bought 162,500 tonnes of raw sugar on world  markets in late 1986, the report said.  The embassy estimated Indonesia's calendar 1986 raw sugar  production at 1.8 mln tonnes, against a government estimate of  1.99 mln.  It said that Indonesia's move into sugar self-sufficiency  in 1984 may have been short-lived.  The report said, "The government continues to promote  sugarcane production through its smallholder intensification  program and a relatively high guaranteed price to sugarcane  producers.  "However, there are considerable indications that farmers  are reluctant to plant cane because its economic return is not  as good as that of other crops."  REUTER 
 U.S. FEEDGRAINS GROUP ATTACKS CANADA CORN RULING	 WASHINGTON, March 6 -	 The U.S. Feedgrains Council is  surprised and disappointed by the Canadian Import Tribunal's  decision that imports of corn from the U.S. are materially  injuring Canadian corn producers, a council spokesman said.  "At a time when the world is attempting to liberalize trade  in the new rounnd of multilateral negotiations, it is  incomprehensible that a country that stands to gain so much  from the reduction in agricultural trade barriers would  threaten that process by caving in to pressures for  protectionism," council president Darwin E. Stolte said.  Canada's finding will strain the U.S./Canadian trading  relationship, could damage the future of U.S. feedgrains  support for the free trade negotiations, and also negatively  impact farm trade reform with other nations, the council said.  Reuter 
 TECHNIGEN PLATINUM CORP IN METALS FIND	 VANCOUVER, March 6 -	 Technigen Platinum corp said initial  results of a 13-hole drilling program on its R.M. Nicel  platinum property in Rouyn-Noranda, Quebec, indicate extensive  near-surface zones highly enriched in gold, platinum and  palladium.  The metals were found in rocks on the periphery of a  sulphide deposit.  It said values of up to 0.073 ounce of platinum, 0.206  ounce palladium, three pct copper and 4.5 pct nickel were found  over a drill section of 13 feet.  Reuter 
 ICO TALKS ON COFFEE QUOTAS TO RESUME AT NOON	 LONDON, March 2 -	 Talks on coffee export quotas at the  International Coffee Organization (ICO) special council session  will resume at noon gmt today, following a last minute decision  taken early this morning to extend the meeting 24 hours, ICO  officials said.  An 18 member contact group will meet at midday to examine  new ideas, and the full council is to convene at 1900gmt, they  said.  The extension resulted from a last ditch effort by Colombia  to salvage the talks, which by late yesterday looked perilously  close to ending without agreement on quotas, delegates said.  REUTER 
 USSR TO CUT COAL PRICE FOR JAPANESE STEELMILLS	 TOKYO, March 9 -	 The Soviet Union has agreed to cut its  coking coal export prices to Japanese steel mills by about five  dlrs a tonne in 1987/88 starting April 1 in exchange for an  increase in export volume, industry sources said.  The prices were set at 44 dlrs a tonne for Neryungrinsky  coal and at 43.80 dlrs for Kuznetsky coal, fob.  Japan will import a total of 4.9 mln tonnes from both  areas, up from 4.2 mln a year earlier, they said.  The steelmakers had asked Moscow to agree to a cutback to  3.7 mln tonnes in 1987/88, but the Soviet Union urged Japan to  increase the amount to 6.5 mln, they said.  REUTER 
 UGANDA DISAPPOINTED BY COFFEE TALKS FAILURE	 KAMPALA, March 9 -	 Uganda, Africa's second largest coffee  producer, was disappointed by the stalemate in recent coffee  talks in London, the chairman of the state-run Coffee Marketing  Board, CMB, said.  "This has not been good for coffee producers, more so in a  situation where the prices dropped by 200 pounds per tonne of  robusta coffee," J. Makumbi said when he returned from London on  Friday.  Producers and consumers failed to agree on a quota formula  to share the world's coffee production during International  Coffee Organisation, ICO, talks that ended last week.  Makumbi blamed the failure to set quotas, which were  suspended in Feburary last year, on Indonesian demands that its  quota be increased dramatically.  Uganda -- which earns about 400 mln dlrs annually from  coffee exports, over 95 pct of its foreign exchange earnings --  had sought to raise its ICO quota to 3.0 mln from 2.45 mln  60-kilo bags, according to sources close to the CMB.  The CMB has estimated that production will rise 20 to 25  pct in the current 1986/87 October-September season to over  three mln bags.  For several years Uganda had been unable to meet its ICO  export quota as rebel activity disrupted the coffee industry.  The Ugandan government depends on coffee export duties for  about 60 pct of its sales tax revenue and the industry employs  over half of salaried manpower.  In Dar es Salaam, Tanzania's Agriculture and Livestock  Development Minister Paul Bomani said today Third World  countries would suffer from the failure of the London coffee  talks.  "It is only the middlemen who will benefit, he said.  Bomani called on the ICO to convene another meeting within  two months, saying, "Once tempers have cooled and delegations  have had time to report back to their headquarters, common  sense will prevail."  Reuter 
 BLACK MINERS SUPPORT S. AFRICAN MINES TAKEOVER	 SOWETO, South Africa, March 2 -	 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.  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).  They also supported a proposal for a national strike at the  end of this month if the owners refused to begin negotiations.  Migrant workers from surrounding countries make up more  than half of the labour force in the mines.  It was not stated how the union would "seize control."  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.  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. They also shouted their  support for a demand that jailed black nationalist leader  Nelson Mandela be released.  REUTER 
 DUTCH OILSEEDS/FATS IMPORTS ROSE IN 1986	 THE HAGUE, March 2 - Dutch imports of fat-	 and oil-bearing  raw materials, fats and oils rose to 2.16 mln tonnes on a  fat/oil basis in 1986 from 2.12 mln tonnes in 1985, the  Commodity Board for Margarine, Fats and Oils said.  Exports of the same commodities fell to 1.35 mln tonnes  from 1.38 mln on a fat-oil basis.  Fat- and oil-bearing raw materials imports rose to 760,000  from 709,200 tonnes on a fat/oil basis and to 3.47 mln tonnes  actual weight from 3.32 mln.  Soyabeans were the main component, with imports rising to  2.82 mln tonnes actual weight from 2.75 mln. Sunflowerseed  imports fell to 308,200 from 342,900 tonnes while rapeseed  imports rose to 292,000 from 201,400 tonnes.  Exports of fat- and oil-bearing raw materials rose to  28,700 tonnes from 19,800 on a fat/oil basis and to 137,200  from 89,900 tonnes actual weight.  Soyabean exports rose to 119,400 tonnes actual weight from  73,200 tonnes.  Imports of vegetable fats, including palm oil, rose to  445,400 tonnes from 362,500 and exports to 151,500 from  139,800.  Vegetable oil imports fell to 227,500 tonnes in 1986 from  286,300 in 1985, and exports to 661,400 from 683,400 tonnes.  Soyabean oil imports were 32,000 (48,200), sunflower oil  61,600 (92,800), rape oil 82,900 (94,900) and groundnut oil  9,300 (12,200). Exports of soybean oil were 325,900 (338,800),  sun oil 172,100 (189,800), rape oil 114,300 (103,400) and  groundnut oil 7,000 (10,400).  Animal fat imports rose to 371,700 from 345,800 tonnes and  exports to 124,100 tonnes from 113,000. Fishoil imports fell to  190,600 from 265,600 and exports to 56,500 from 85,500 tonnes.  reuter... 
 BRAZIL TREASURY TO RELEASE COFFEE BUYING FUNDS	 RIO DE JANEIRO, March 9 -	 The Treasury Department is due to  release funds for the Brazilian Coffee Institute, IBC, to pay  for the coffee purchased from local producers, the IBC said in  a statement.  IBC production director Oripes Gomes said in the statement  that payment would be made within the official guarantee  prices.  The statement said the IBC is sending a document to the  National Monetary Council asking the government to set a budget  for the purchase by the Institute of up to five mln bags of  coffee until June 30.  Gomes said in the statement there have been no problems in  the concession of funds by the Treasury for payment of the  coffee delivered to the IBC warehouses by the producers.  He said producers have already delivered 2.2 mln bags, of  which 1.5 mln bags have been paid for.  In the future, according to an agreement to be signed with  the Treasury, the Institute will no longer need to seek  approval by the Treasury to seek the release of additional  funds to buy cof fee, the statement said.  Reuter 
 U.S. LEAD INVENTORIES RISE IN FEBRUARY - ABMS	 NEW YORK, March 9 -	 Lead stocks held by U.S. refiners rose  to 37,295 short tons at the end of February from 34,224 short  tons (revised higher) at the end of January, the American  Bureau of Metal Statistics reported.  Production of lead decreased to 33,619 short tons in  February from 38,759 short tons in January.  Shipments from plants increased to 30,467 short tons in  February from 27,041 short tons (revised lower) in January, the  ABMS said.  Reuter 
 GHANA COCOA PURCHASES FALL, CUMULATIVE STILL UP	 LONDON, March 9 -	 The Ghana Cocoa Board said it purchased  1,323 tonnes of cocoa in the 21st week, ended February 26, of  the 1986/87 main crop season, compared with 1,961 tonnes the  previous week and 1,344 tonnes in the 21st week ended March six  of the 1985/86 season, the board said.  Cumulative purchases so far this season stand at 216,095  tonnes, still up on the 201,966 tonnes purchased by the 21st  week of last season, the Board said.  Reuter 
 U.S. EXPORT INSPECTIONS, IN THOUS BUSHELS  SOYBEANS 18,616 WHEAT 16,760 CORN 25,193	(NO DATE)	(NO TEXT)
 CAROLIN MINES HAS NEW GOLD ASSAY RESULTS	 VANCOUVER, British Columbia, March 9 -	 Carolin Mines Ltd  said recent assays of tailings at its Hope, British Columbia  mine ranged from 0.50 to 0.64 ounces of gold per ton.  There were only trace amounts of platinum and palladium,  the company said.  Carolin said the results sharply disagreed with an earlier  assay performed by Intergold U.S.A. Inc which showed 1.0 ounce  of gold per ton and 0.50 ounce of platinum per ton.  Carolin also said it expects to receive results of further  tests and assays of the tailings within two to three weeks.  Reuter 
 USDA RAISES SOVIET GRAIN IMPORT ESTIMATE	 WASHINGTON, March 9 -	 The U.S. Agriculture Department  increased its estimate of Soviet 1986/87 grain imports to 26  mln tonnes from last month's projection of 23 mln tonnes.  In its monthly USSR Grain Situation and Outlook, USDA said  the increase reflected the return of the Soviet Union to the  U.S. corn market and continued purchases of both wheat and  coarse grain from other major suppliers.  USSR wheat imports were projected at 15 mln tonnes, up one  mln from last month's estimate and 700,000 tonnes below the  preliminary 1985/86 figure.  Soviet grain for feed use was estimated at a record 129 mln  tonnes. Record or near-record livestock inventories, along with  a dry fall which likely reduced late season pasturage, and a  cold winter have increased feed demand, USDA said.  USSR meat and egg production in January rose only slightly  from the previous January's level, while milk production  increased by nearly six pct.  Unusually cold weather in January and smaller increases in  roughage supplies during 1986 than in 1985 kept livestock  production from expanding as much as it did a year earlier,  USDA said.  Reuter 
 FRANCE TO REQUEST PERMANENT MAIZE REBATES	 PARIS, March 9 -	 French maize producers will ask the EC  Commission to grant permanent maize export rebates following  the recent EC/U.S. Accord guaranteeing the U.S. An annual  export quota of two mln tonnes of maize for Spain over four  years, the French maize producers association, AGPM, said.  The Commission has already decided to accord rebates for  the export of 500,000 tonnes of French maize, of which rebates  for around 100,000 tonnes have been granted.  The request will be made when export certificates have been  granted for all the 500,000 tonnes, the AGPM said.  The association said that the request would cover exports  to all destinations, adding that the Soviet Union, which has  important maize needs, is currently excluded from the list of  destination countries for the 500,000 tonnes of French maize.  The U.S. Agriculture Department has forecast Soviet maize  imports for the 1986/87 campaign at 4.90 mln tonnes against  10.40 mln in 1985/86.  Reuter 
 SICHUAN BRACED TO FIGHT DROUGHT	 PEKING, March 11 -	 The Sichuan government has ordered that  any work or meeting which interferes with the fight against  drought must be cancelled or postponed to save time, energy and  manpower, the People's Daily domestic edition said.  Sichuan is one of six provinces threatened by drought.  Wen Wei Po, a Hong Kong daily, said the drought, the worst  for more than 20 years, is affecting nearly two mln hectares in  100 counties in Sichuan, the country's biggest agricultural  producer.  Sichuan has experienced temperatures three degrees  Centigrade higher than normal and rainfall up to 70 pct less  than normal since early February, affecting wheat, oil-bearing  crops, rice planting and dryland cash crops, it said.  The paper said 43,000 hectares in Meixian county in  Guangdong are seriously short of water.  The People's Daily said Henan, Shaanxi, Gansu and Hebei are  also suffering from drought.  Henan's grain output fell by 2.5 mln tonnes last year from  the 1985 level because of drought which has been affecting the  province since May.  REUTER 
 NY TRADERS SAY E.C. SOLD 71,000 TONNES  OF WHITE SUGAR AT TENDER.	(NO DATE)	(NO TEXT)
 OUTOKUMPU RESTRUCTURES COPPER DIVISION	 HELSINKI, March 11 -	 Finland's mining and metals group  Outokumpu Oy & lt;OUTO.HE > , which last week reported a 1986 loss of  83 mln markka after three successive years of profits, said it  restructured its key copper processing division in an attempt  to rationalize production and improve profitability.  Outokumpu's Managing Director Pertti Voutilainen told a  news conference the reorganization involved a split of the  division into a new independent division with six profit  centres.  Outokumpu group had a 1986 loss before appropriations and  taxes of 83 mln markka after a profit of 355 mln in 1985. It  had profits in 1984 and 1983 but a loss, 171.2 mln, in 1982.  Outokumpu acquired two Swedish copper manufacturers in  January 1986, & lt;Metallverken Ab > and & lt;Wirsbo Bruks Ab > , that  were merged into its copper processing division.  The division had a turnover of 3.2 billion markka last  year, 42 pct of Outokumpu's group turnover of 7.58 billion.  The new Outokumpu division, called Copper Products  Industry, is to incorporate Outokumpu's copper production  plants, including its two U.S. Subsidiaries & lt;Nippert Co > and  & lt;Valleycast Inc > , as well as Metallverken and part of Wirsbo.  Outokumpu is planning to make Wirsbo an independent  division in the Outokumpu group and transfer only Wirsbo's  copper tube production into one of the new division's profit  centres. A definite decision on Wirsbo will be taken later this  year.  The new division will have production plants in Finland,  Sweden, Norway, the Netherlands and the U.S.  REUTER 
 UK INTERVENTION BD SAYS EC SETS WHITE SUGAR TENDER REBATE 43.248 ECUS.	(NO DATE)	(NO TEXT)
 ST. JOE GOLD TO DEVELOP ONTARIO MINE	 CLAYTON, Mo., March 11 -	 St. Joe Gold Corp said it plans to  proceed with development of its Golden Patricia gold property  in northwestern Ontario.  It said about five mln dlrs will be spent to continue  underground development and obtain operating permits and  another 10.2 mln dlrs is expected to be required to complete  underground development, construct a mill and provide the  infrastructure needed to put the mine into commercial  production.  St. Joe Gold said if the necessary operating permits were  granted in time, it would start gold production in the second  half of the year ending October 31, 1988 at an annual rate of  about 40,000 troy ounces.  The company said the property is estimated to contain over  500,000 troy ounces of gold, and the initial mining project  covers only seven of 192 claims, with drill-indicated reserves  of 293,000 short tons grading 0.88 troy ounce of gold per ton.  It said initial mine output is expected to be about 150  tons of ore daily.  St. Joe Gold said the Golden Patricia vein has not been  tested at depth or along strike to the east and west and  exploration is continuing on the Golden Patricia property and  the adjacent wholly-owned Muskeg Lake property.  The company also said its Richmond Hill gold and silver  deposit in the Carbonate district of western South Dakota has  been shown by drilling to contain about 3,900,000 tons grading  0.055 troy ounce of gold and 0.23 troy ounce of silver per ton.  It said preliminary results are encouraging and a feasibility  study is nearing completion.  Reuter 
 BRITAIN TO MINT NEW "BRITANNIA" GOLD COIN	 LONDON, March 11 -	 Britain will from next autumn mint and  market a new bullion coin called the "Britannia" containing one  ounce of 24 carat gold, together with bullion coins of smaller  denominations, a Treasury official said.  The new investment coin, to be sold worldwide, will  fluctuate in price according to the international price of  gold.  The smaller coins will be in denominations of a half ounce,  a quarter ounce and a tenth of an ounce. REUTER 
 DOLE MULLS BILL TO EXTEND ETHANOL TAX EXEMPTION	 WASHINGTON, March 11 -	 U.S. Senate Republican leader Robert  Dole (R-Kan.) said he and a group of Republican lawmakers are  considering introducing legislation to extend the ethanol tax  exemption through the year 2000.  Dole, addressing the National Corn Growers Association  board, said the proposal was under consideration by a rural  task force of Republican members of Congress and governors.  Gasoline containing at least 10 pct ethanol now receives a  six cents per gallon exemption from a nine cent federal excise  tax. The exemption is to expire the end of 1992.  Ethanol is produced primarily by a few large agribusiness  firms including Archer Daniels Midland (ADM) and A.E. Staley.  The tax exemption has helped bolster ethanol production despite  a sharp drop in the prices of competing crude oil.  Reuter 
 PERU GUERRILLAS INTERRUPT TRAIN ROUTE TO MINES	 LIMA, March 11 -	 Maoist guerrillas using dynamite derailed  two locomotives and four train wagons, interrupting traffic on  Peru's sole railway line linking the capital to the central  Andes, where most of the country's mining centres are located,  authorities said.  Damages was estimated at 800,000 dlrs in the dynamite blast  yesterday at Chacapalca, where the explosion wrecked the train  laden with minerals and 45 metres of the railway line.  Crews hoped to restore traffic to the line later today  after clearing the damaged train and repairing the tracks at  Chacapalca, 225 km east of the Capital, Lima.  An official at Mineroperu comercial (Minpeco), Peru's state  minerals marketing firm, said the agency was assessing the  situation. There had not been a declaration of force majeure on  contracts to ship minerals abroad.  Foreign sales of silver, copper, zinc and other minerals  earn Peru over half of its export income. Most of the minerals,  extracted and refined in the central peruvian andes, are  shipped down the central railway to the lima port of callao.  Reuter 
 PLACER & lt;PLC > TO INCREASE STAKE IN EQUITY SILVER	 VANCOUVER, British Columbia, March 11 -	 & lt;Equity Silver  Mines Ltd > said it agreed to sell 6.6 mln shares of a new class  of par value voting stock to Placer Development Ltd for 37.1  mln dlrs, increasing Placer's stake in Equity to 74.5 pct from  68 pct.  The transaction is subject to regulatory approval and a  vote by Equity minority shareholders at the April 23 annual  meeting, the company said.  Proceeds from sale of the shares, priced at 5.625 dlrs  each, will be used to buy and deliver 4,985,000 ounces of  silver to Placer, Equity said.  Equity Silver said the silver remains to be delivered under  its sale agreement with Placer, after delivery of its 750,000  ounce minimum commitment for 1987.  Equity said it arranged to acquire 4,985,000 ounces of  silver at 7.40 dlrs an ounces, subject to selling the shares to  Placer.  Purchase and delivery of the silver to Placer will result  in an after-tax gain of about 6.6 mln dlrs, Equity said.  It also said the stock and silver transactions will create  a 37,059,000 dlr fund out of which dividends will be paid when  cash is available.  The cash fund will enable Equity Silver to continue to pay  dividends on its preferred shares and increase the likelihood  that it may be able to pay dividends on its common shares, the  company said.  It did not elaborate on what common share dividends might  be paid.  The company normally pays quarterly preferred dividends  totalling 619,000 dlrs from retained earnings, Equity Silver  said.  Equity Silver had retained earnings of 2,312,000 dlrs at  December 31, 1986.  Reuter 
 EC COMMISSION REJECTS SUGAR THREATS - SOURCES	 BRUSSELS, March 11 -	 The European Community Commission has  told EC member states that it is not prepared to discuss EC  sugar prices while sugar traders threaten to make a huge sale  into intervention stocks to protest against its policies,  Commission sources said.  "Our position is that we are not willing to discuss the  problems of market prices at a time when traders are making  threats," one source said.  The sources said the Commission's view was made clear at a  meeting of its sugar management committee today.  They said French, West German and Dutch officials had  informed the committee that traders in their countries intended  to sell just over 850,000 tonnes of sugar into EC intervention  stocks.  The Commission riposted by signalling that it would sell  the sugar sold into intervention back onto the EC market by  tender, a move that would push down prices.  The sources said French traders planned to sell 775,000  tonnes into intervention stocks, West German traders 7,500  tonnes and Dutch traders 2,500.  Reuter 
 U.S. CORN DEMAND GROWING IN JAPAN, SOUTH KOREA	 WASHINGTON, March 11 -	 The recent purchase of 1.5 mln  tonnes of U.S. corn by Japan and 600,000 tonnes by South Korea  suggests that the two countries' demand for reliable supplies  of corn is increasing, the U.S. Agriculture Department said.  In its World Production and Trade Report, the department  said that view is reinforced by the expectation of a decline in  exportable supplies of Argentine corn and uncertainty over the  availability of South African and Chinese corn.  With these corn purchases, Japan is committed to buying 7.7  mln tonnes of U.S. corn in 1986/87 (Sept-Aug), nearly 400,000  tonnes greater than year-ago figures to date.  South Korea's cumulative commitments amount to 2.5 mln  tonnes, up 1.5 mln compared to last year, it said.  Reuter 
 FRANCO NEVADA SAYS STOCK RISE DUE TO DRILLING	 Toronto, March 11 -	 Franco Nevada Mining Corp Ltd said the  gain in its stock price today is related to deep drilling being  conducted by American Barrick Resources Corp at the Goldstrike  claims in the Carlin camp in northern Nevada.  Franco Nevada stock is up two at seven dlrs per share on  the Toronto Stock Exchange.  Franco Nevada said American Barrick announced on March nine  that the drilling indicated a number of significant  intersections of sulfide gold mineralization below a depth of  about 1,000 feet.  One vertical drill hole intersected gold continuously from  1,100 feet to 1,730 feet averaging 0.30 ounces per short ton,  the announcement said.  Reuter 
 USX & lt;X > PROVED OIL, GAS RESERVES FALL IN 1986	 NEW YORK, March 11 -	 USX Corp said proved reserves of oil  and natural gas liquids fell 28 pct to 802.8 mln barrels at the  end of 1986 from 1.12 billion barrels at year-end 1985.  The figures, in USX's just-released 1986 annual report,  indicate much of the drop resulted from the exclusion of 293.7  mln barrels of Libyan reserves, after the U.S. government last  June directed U.S. oil companies to end Libyan operations.  USX, which owns Marathon Oil Co and Texas Oil and Gas Corp,  had 60 pct of its 1986 sales of 14.94 billion dlrs from its oil  and gas operations.  About 24 pct of total sales came from USX's USS steel unit  and 16 pct from diversified businesses, which include oilfield  services, raw materials, minerals, chemicals and real estate.  According to the report, domestic liquids reserves fell  slightly to 628.5 mln barrels from 628.9 mln and foreign  reserves fell to 174.3 mln from 486.4 mln barrels. The large  drop in foreign reserves was in the Middle East and Africa,  where they fell to about 9.3 mln barrels from 316.7 mln,  reflecting the exclusion of Libya.  Total natural gas reserves fell to 4.82 trillion cubic feet  at year-end 1986 from 5.18 trillion at the end of 1985.  Again, most of the drop came from the Middle East and  Africa, where reserves fell to zero from 71.9 billion cubic  feet, excluding Libyan reserves.  U.S. natural gas reserves fell to 3.44 trillion cubic feet  from 3.65 trillion and foreign reserves fell to 1.38 trillion  from 1.53 trillion.  In other areas, USX said total capital spending fell to 962  mln dlrs in 1986 from 1.78 billion dlrs in 1985. The 1986  audited figure is eight mln dlrs higher than the unaudited  figure the company reported on Jan 27.  USX also said it expects to record a gain of 150 mln dlrs  in 1988, representing 50 pct of previously existing investment  tax credits allowable under the new tax law. The loss of the  other half of the credits was reflected in the fourth quarter.  In a discussion of steel results, USX said plants that were  shut down last month and some previously idled plants may be  permanently closed. USX took a fourth quarter charge of 1.03  billion dlrs to restructure its steel operations. The charge  included the "indefinite idling" last month of four plants in  Utah, Pennsylvania and Texas.  Other plants or parts of plants in Pennsylvania, Indiana,  Alabama, Ohio and Chicago had been previously idled.  "These operations are not permanently shut down. Improved  market conditions for the products from these plants may make  it feasible to reopen some of them," USX said in the report.  "On the other hand, a lack of any future market improvement  may necessitate their permanent closing," it added.  Reuter 
 TAIWAN'S FIRST QUARTER MAIZE IMPORTS SEEN RISING	 TAIPEI, March 12 -	 Taiwan's maize import commitments are  expected to rise to 970,000 tonnes in the first four months of  1987 from 870,000 tonnes a year earlier, a spokesman for the  Joint Committee of Maize Importers told Reuters.  He said more than 75 pct of the imports come from the U.S.  And the rest from South Africa.  The maize import target for calendar 1987 is set at well  over 3.4 mln tonnes compared with an actual 3.07 mln in 1985,  he added.  REUTER 
 BRITAIN TO MINT NEW "BRITANNIA" GOLD COIN	 LONDON, March 12 -	 Britain will from next autumn mint and  market a new bullion coin called the "Britannia" containing one  ounce of 24 carat gold, together with bullion coins of smaller  denominations, a Treasury official said.  The new investment coin, to be sold worldwide, will  fluctuate in price according to the international price of  gold.  The smaller coins will be in denominations of a half ounce,  a quarter ounce and a tenth of an ounce. REUTER 
 EC GRANTS LICENCES FOR 35,000 TONNES  BARLEY AT 137.35 ECUS REBATE - BRUSSELS TRADE	(NO DATE)	(NO TEXT)
 PORTUGAL GRAIN AGENCY BARRED FROM IMPORT TENDERS	 LISBON, March 12 -	 A Portuguese court has made a  preliminary ruling that the state grain buying agency EPAC  should not be allowed to take part in public import tenders  open to private importers, grain traders and officials said.  Under the terms of Portugal's January 1986 accession to the  European Community, EC, a grain import monopoly held by EPAC  (Empresa Publica de Abastecimento de Cereais) is being reduced  by 20 pct annually until all imports are liberalised in 1990.  Private traders protested last year that EPAC was being  permitted to take part in tenders open to them for the first  liberalised 20 pct share of the country's annual import needs.  The grain and oilseed importers association ACICO opened legal  proceedings to stop EPAC participating in the public tenders.  Miguel Ascensao of ACICO told Reuters that Lisbon's civil  court, in a preliminary ruling, had decided EPAC should not be  allowed to take part in tenders open to private traders.  Trade sources said the ruling, though effective  immediately, was subject to appeal and would have to be  confirmed in further proceedings.  A member of the government Cereals Market Commission said  that, as a result of the court's decision, the Commission would  not be able to accept offers from EPAC in a public tender being  held today for the import of 80,000 tonnes of corn.  Ascensao said the court ruling stated that EPAC's  participation in the public tenders violated the clauses of  Portugal's EC accession treaty dealing with the gradual  dismantling of the state agency's import monopoly.  It also said the participation of EPAC, which still  controls the national grain storage and distribution network,  was unfair competition to the private traders.  Traders said they believed the EC's Executive Commission  was unlikely to get involved in the dispute, preferring to  leave t he case to be resolved as an internal Portuguese issue.  "They (the EC Commission) will be keeping a low profile," one  trader said.  ACICO says it is ready to take its case to Brussels if  necessary.  Reuter 
 NO GRAIN TO THE USSR IN LATEST WEEK -- USDA	 WASHINGTON, March 12 -	 There were no shipments of U.S.  grain or soybeans to the Soviet Union in the week ended March  12, according to the U.S. Agriculture Department's latest  Export Sales report.  The USSR has purchased 1.0 mln tonnes of U.S. corn for  delivery in the fourth year of the U.S.-USSR grain agreement.  Total shipments in the third year of the U.S.-USSR grains  agreement, which ended September 30, amounted to 152,600 tonnes  of wheat, 6,808,100 tonnes of corn and 1,518,700 tonnes of  soybeans.  Shipments to the USSR in the second year of the agreeement  amounted to 2,887,200 tonnes of wheat and 15,750,100 tonnes of  corn.    Reuter 
 CHINA'S JANUARY GRAIN EXPORTS FALL	 PEKING, March 13 -	 China's grain exports in January totaled  386,157 tonnes, down 22.1 pct from January 1986, customs  figures show.  They gave no detailed breakdown.  The official China Economic News quoted the figures as  showing tea exports rose 9.7 pct to 8,474 tonnes during the  month.  Imports of wool rose 117.6 pct to 10,248 tonnes over the  same period, the figures show.  REUTER 
 BRITISH WHEAT AREA DOWN, MINISTRY CENSUS SHOWS	 LONDON, March 13 -	 A total of 1.886 mln hectares was sown  to wheat in Britain, excluding Northern Ireland, up to December  1, 1986 for the 1987 crop, a Ministry of Agriculture census  shows.  It compares with 1.925 mln planted in the same period 1985.  The barley area was unchanged at 952,000 ha, but oilseed  rape increased to 393,000 from 333,000 ha.  REUTER 
 UNOFFICIAL STRIKE HITS ROTTERDAM GRAIN SECTOR	 ROTTERDAM, March 13 -	 About 220 men in Rotterdam port's  grain sector stopped work this afternoon in an unofficial  protest at the slow progress of negotiations over a new work  practice agreement, a spokesman for the port and transport  union FNV said.  Negotiations between the union and employers, which are due  to resume early next week, are currently stalemated with the  union refusing to accept sweeping changes in working hours and  practices in return for a 1.5 pct pay increase.  The FNV spokesman said the action did not yet have official  backing, but added that next week matters might be different.  Reuter 
 UGANDA RE-ROUTES COFFEE EXPORTS THROUGH KISUMU	 NAIROBI, March 13 -	 Long delays at the railway crossing on  the Kenyan border have led Uganda to re-route its coffee  exports through a ferry link with the Kenyan port of Kisumu  across Lake Victoria, Ugandan officials based in Kenya said.  Uganda has a direct rail link with the Kenyan port of  Mombasa through which it conducts 70 pct of its external trade  but there is a chronic shortage of railway wagons, they said.  Customs at Kisumu take less than a day compared with two to  three at the Malaba rail border crossing, a Ugandan Railways  official said. "Malaba is now handling only 10 pct of the trade  and all the coffee and oil goes through Kisumu," he said.  However, an accident recently damaged the wagon ferry which  plies between Kisumu and the Ugandan port of Jinja, causing  bottlenecks on the lake route too.  Sources at the Coffee Marketing Board in Kampala reported  delays in coffee export shipments last January due to  congestion on the lake ferries.  Coffee accounts for about 95 pct of Uganda's export  earnings and last November President Yoweri Museveni ordered  all coffee shipments to be carried by rail in order to avoid  the higher costs of road haulage.  Reuter 
 U.S. CONSERVATION SIGNUP SEEN 10 TO 12 MLN ACRES	 CHICAGO, March 13 -	 Grain traders and analysts look for a  10 to 12 mln acre sign-up in the USDA's conservation reserve  program, scheduled to be announced after 1400 CST today.  The USDA probably will accept about 80 to 90 pct of the  acres submitted, they said.  Total enrollment in the first three years of the program is  only 8.9 mln acres, so the sharp increase expected this year  has underpinned new crop corn futures all week.  However, some analysts said a 10 to 12 mln acre sign-up may  end up being negative to new crop corn prices, citing trade  talk earlier this year that 14 to 15 mln acres may be submitted  by farmers. Also, acres set-aside under the conservation  program are by definition poor yielding, so the impact on total  corn production will be minimal, they added.  Reuter 
 COLOMBIA OPENS APRIL/MAY COFFEE REGISTRATIONS	 BOGOTA, March 13 -	 Colombia opened coffee export  registrations for April and May with the National Coffee  Growers' Federation setting no limit, Gilberto Arango,  president of the private exporters' association, said.  He told Reuters the decision not to put any limit responded  to "new factors" which have emerged from recent International  Coffee Organisation talks in London, where producers and  consumers failed to agree on a re-introduction of export quotas.  Reuter 
 TRADERS DETAIL FRENCH CEREAL EXPORT REQUESTS	 PARIS, March 2 -	 French operators last Friday requested  licences to export 10,500 tonnes of free market maize, 11,950  tonnes of free market barley and 13,000 of soft wheat flour to  non-EC countries, at prefixed daily (droit commun) rebates,  French trade sources said.  The latest requests for the maize were for export to  Switzerland, Austria and Lichtenstein at a maximum daily rebate  prefixed last Friday at 141 Ecus a tonne against a previous 20  Ecu daily rebate.  The special daily rebate for maize was set in the context  of a Commission commitment to grant this season rebates for the  export of 500,000 tonnes of French maize to non-EC countries,  in compensation for concessions to the U.S. in the recent  dispute over grain sales to Spain.  If the latest French requests are accepted as expected,  this will bring the total of French maize exported in this  context to 25,500 tonnes.  The Commission last Thursday granted weekly rebates for the  sale of 15,000 tonnes of free market maize to non-EC countries.  Requests for barley were for export to Switzerland, Austria  and Lichtenstein, Ceuta and Melilla at an unchanged pre-fixed  restitution of 125 Ecus a tonne, while requests for soft wheat  flour were for export to various non-EC countries at an  unchanged 178 Ecus a tonne.  Reuter 
 INDIA TO GET U.K. COAL, STEEL INDUSTRY GRANTS	 NEW DELHI, March 14 -	 India will get 104.65 mln stg as  grants from Britain to develop its coal, zinc and lead  industries, the British Information Services said in a  statement.  It said a 31 mln stg grant would be disbursed over three to  four years under an agreement signed here yesterday between the  Indian Finance Ministry and the British Overseas Development  Administration.  The British grants for developing the Indian coal industry  using British mechanised longwall technology totalled 52 mln  stg in the past 10 years, it said.  Under a separate agreement, the British government agreed  to provide 73.65 mln stg as a grant to develop a zinc and lead  mine at Rampura-Agucha and an associated smelting complex at  Chaneriya, both in India's northern state of Rajasthan, the  statement said.  The grant will finance the basic engineering for the  smelter complex to be undertaken by Britain's & lt;Davy McKee > of  Stockton. It will also help develop the mine complex, it added.  REUTER 
 IVORY COAST CONFIRMS PRESENCE AT COCOA TALKS	 ABIDJAN, March 15 -	 A senior Ivory Coast Agriculture  Ministry official confirmed his country's backing for a new  international cocoa pact and said Ivorian delegates would be  present at talks on its buffer stock starting this week.  The official told Reuters that Ivorian Agriculture Minister  Denis Bra Kanon would attend the opening of the talks, convened  by the International Cocoa Organization (ICCO), in London on  Monday.  While Bra Kanon is due to return home this week for funeral  ceremonies for a sister of Ivorian President Felix  Houphouet-Boigny, scheduled to be held in the country's capital  Yamoussoukro between March 19-22, senior Ivorian delegates will  be present throughout the London talks, the official said.  Bra Kanon is chairman of the ICCO Council and rumours that  he or Ivorian delegates might be delayed because of public  mourning in the West African nation helped depress already low  world cocoa prices Friday.  The official said Ivory Coast continued to support the new  pact, which was agreed in principle last year by most of the  world's cocoa exporters and consumers.  He also said Bra Kanon would fulfil his duties as ICCO  Council chairman during the talks, scheduled to end on March  27.  The meeting aims to set rules for the operation of the  pact's buffer stock which producers hope will boost a market  hit by successive world cocoa surpluses.  Ivory Coast did not participate in the last international  cocoa pact and its decision to join the new accord has sparked  hopes that it will be more successful in supporting prices.  REUTER 
 GERMAN BANK SEES HIGHER GOLD PRICE FOR 1987	 HAMBURG, March 16 -	 Gold is expected to continue its rise  this year due to renewed inflationary pressures, especially in  the U.S., Hamburg-based Vereins- und Westbank AG said.  It said in a statement the stab ilisation of crude oil  prices and the Organisation of Petroleum Exporting Countries'  efforts to achieve further firming of the price led to growing  inflationary pressures in the U.S., The world's biggest crude  oil producer.  Money supplies in the U.S., Japan and West Germany exceed  the central banks' limits and real growth of their gross  national products, it said.  Use of physical gold should rise this year due to increased  industrial demand and higher expected coin production, the bank  said.  Speculative demand, which influences the gold price on  futures markets, has also risen. These factors and South  Africa's unstable political situation, which may lead to a  temporary reduction in gold supplies from that country,  underline the firmer sentiment, it said.  However, Australia's output is estimated to rise to 90  tonnes this year from 73.5 tonnes in 1986.  REUTER 
 GERMAN BANK SEES HIGHER GOLD PRICE FOR 1987	 HAMBURG, March 16 -	 Gold is expected to continue its rise  this year due to renewed inflationary pressures, especially in  the U.S., Hamburg-based Vereins- und Westbank AG said.  It said in a statement the stabilisation of crude oil  prices and the Organisation of Petroleum Exporting Countries'  efforts to achieve further firming of the price has led to  growing inflationary pressures in the U.S.  Money supplies in the U.S., Japan and West Germany exceed  central bank limits and real growth of their gross national  products, it added.  Use of physical gold should rise this year due to increased  industrial demand and higher expected coin production, the bank  said.  Speculative demand, which influences the gold price on  futures markets, has also risen, the bank said.  These factors and South Africa's unstable political  situation, which may lead to a temporary reduction in gold  supplies from that country, underscore the firmer sentiment, it  said.  However, Australia's output is estimated to rise to 90  tonnes this year from 73.5 tonnes in 1986.  Reuter 
 PATON REPORTS U.S. GREEN COFFEE ROASTINGS HIGHER	 NEW YORK, March 16 -	 U.S. roastings of green coffee in the  week ended March 7 were about 325,000 (60-kilo) bags, including  that used for soluble production, compared with 290,000 bags in  the corresponding week of last year and about 315,000 bags in  the week ended February 28, George Gordon Paton and Co Inc  reported.  It said cumulative roastings for calendar 1987 now total a  3,295,000 bags, compared with 3,620,000 bags by this time last  year.  Reuter 
 EEP SHOULD BE USED TACTICALLY, YEUTTER SAYS	 WASHINGTON, March 16 -	 U.S. Trade Representative Clayton  Yeutter said the Export Enhancement Program, EEP, should be  used as a "tactical tool" and not as a general policy.  Yeutter made the comment in response to a question whether  the U.S. should expand the EEP to cover grain sales to the  Soviet Union.  He did not comment directly on the Soviet question,  replying that any decision would be made at the highest levels  of the Reagan administration, and "I don't want to preempt that."  Yeutter told the National Grain and Feed Association EEP  should continue to be used as a tactical tool against the  European Community but not as a general policy. He said  selective EEP use has been successful in pressuring the E.C.  Reuter 
 U.S. COULD COMPLAIN TO GATT ON CANADA CORN DUTY	 WASHINGTON, March 16 -	 U.S. Trade Representative Clayton  Yeutter suggested the U.S. could file a formal complaint with  the General Agreement on Tariffs and Trade (GATT) challenging  Canada's decision to impose duties on U.S. corn imports.  Asked about the Canadian government decision to apply a  duty of 84.9 cents per bushel on U.S. corn shipments, Yeutter  said the U.S. could file a formal complaint with GATT under the  dispute settlement procedures of the subsidies code.  Other U.S. options would be to appeal the decision in  Canadian courts, or to retaliate against Canadian goods, a  lower-level U.S. trade official said. However, retaliation is  an unlikely step, at least initially, that official said. No  decision on U.S. action is expected at least until after  documents on the ruling are received here later this week.  Reuter 
 TRADE SEES STEADY CORN/WHEAT EXPORT INSPECTIONS	 CHICAGO, March 16 -	 The USDA's weekly export inspection  report is expected to show steady corn and wheat exports and  lower soybean exports, according to CBT floor traders'  forecasts.  Traders projected soybean exports at 16 mln to 18 mln  bushels, down from 18.6 mln bushels a week ago and 20.3 mln  bushels a year ago.  Corn guesses ranged from 22 mln to 26 mln bushels, compared  with 25.2 mln bushels a week ago and 22.4 million bushels a  year ago.  Wheat guesses ranged from 13 mln to 17 mln bushels,  compared with 16.8 mln bushels a week ago and 13.4 mln bushels  a year ago.  Reuter 
 BP & lt;BP > UNIT SEES MINE PROCEEDING	 NEW YORK, March 16 -	 British Petroleum Co PLC said based on  a feasibility report from & lt;Ridgeway Mining Co > , its joint  venture Ridgeway Project in South Carolina could start  commercial gold production by mid-1988.  The company said the mine would produce at an approximate  rate of 158,000 ounces of gold per year over the first four  full years of operation from 1989 through 1992 and at an  average of 133,000 ounces a year over the full projected  11-year life of the mine.  BP's partner in the venture is Galactic Resources Ltd  & lt;GALCF > of Toronto.  The company said subject to receipt of all statutory  permits, finalization of financing arrangements and management  and joint venture review, construction of a 15,000 short ton  per day processing facility can start.  Capital costs to bring  the mine into production are estimated at 76 mln dlrs.  Reuter 
 BP UNIT SEES U.S. GOLD MINE PROCEEDING	 NEW YORK, March 16 -	 British Petroleum Co PLC said based on  a feasibility report from Ridgeway Mining Co, its joint venture  Ridgeway Project in South Carolina could start commercial gold  production by mid-1988.  The company said the mine would produce approximately  158,000 ounces of gold per year over the first four full years  of operation from 1989 through 1992 and at an average 133,000  ounces a year over the full projected 11 year life of the mine.  BP's partner is Galactic Resources Ltd of Toronto.  BP said subject to receipt of all statutory permits,  finalization of financing arrangements and management and joint  venture review, construction of a 15,000 short ton per day  processing facility can start. Capital costs to bring the mine  into production are estimated at 76 mln dlrs.  Reuter 
 STARREX LINKS SHARE PRICE TO ASSAY SPECULATION	 TORONTO, March 16 -	 & lt;Starrex Mining Corp Ltd > said a sharp    rise in its share price is based on speculation for favorable  results from its current underground diamond drilling program  at its 35 pct owned Star Lake gold mine in northern  Saskatchewan.  Starrex Mining shares rose 40 cts to 4.75 dlrs in trading  on the Toronto Stock Exchange.  The company said drilling results from the program which  started in late February are encouraging, "but it is too soon  for conclusions." Starrex did not disclose check assay results  from the exploration program.  Reuter 
 NEW EEP DURUM WHEAT OFFER TO ALGERIA -- USDA	 WASHINGTON, March 16 -	 U.S. exporters will have the  opportunity to sell an additional 300,000 tonnes of U.S. durum  wheat to Algeria under the Export Enhancement Program, EEP, the  U.S. Agriculture Department said.  The department said the sales will be subsidized with  commodities from the Commodity Credit Corporation, CCC,  inventory and the subsidy will enable U.S. exports to compete  at commercial prices in the Algerian market.  Algeria has already purchased 300,000 tonnes of U.S. durum  wheat under a previous export enhancement initiative announced  November 10, 1986, it said.  Details of the latest initiative, including an invitation  for offers from exporters, will be issued in the near future,  the department said.  Reuter 
 COCOA WORKING GROUP MEETING DELAYED	 LONDON, March 17 -	 The International Cocoa Organization  (ICCO) buffer stock working group meeting set for 1130 GMT  today was rescheduled for 1430, ICCO delegates said.  The meeting was delayed so a draft compromise proposal on  buffer stock rules could be completed, they said.  ICCO Executive Director Kobena Erbynn was preparing the  plan in consultation with other delegates for presentation to  the full working group, they added.  REUTER 
 SOUTH AFRICA CROP WEATHER SUMMARY -- USDA/NOAA	 WASHINGTON, March 17 -	 Dry weather pushed further into  South Africa's Orange Free State's Maize Triangle in the week  ended March 14, the Joint Agricultural Weather Facility of the  U.S. Agriculture and Commerce Departments said.  In a summary of its Weather and Crop Bulletin, the agency  said scattered showers continued throughout Transvaal, but dry  pockets persisted in the northeast and south.  Temperatures average one to four degrees C above normal  throughout all grain areas, stressing grain-filling corn in  areas receiving lightest rainfall, it said.  The agency said rainfall during February was near to above  normal in most areas, but earlier periods of hot, dry weather  reduced yield prospects in parts of the northern Transvaal and  southern Orange Free State.  Reuter 
 STUDY SHOWS ONLY LIMITED OPTIMISM FOR SILVER	 ZURICH, March 18 -	 Silver looks "unlikely to break out of  gold and platinum's shadow" in the near future, although this  year is likely to see demand increasing at a faster rate than  supply, a study by Credit Suisse said.  The study predicted demand rising by 300 tonnes to 13,200  tonnes this year, against a 50 tonne increase in supply to  14,050 tonnes. This should cut the global oversupply to 850  tonnes from last year's provisional 1,100 tonnes.  The study noted that the effects of last year's lower  prices were having a dampening effect on total supply, which  was now back down to around levels of a decade ago.  However, the study said that primary production, likely to  reach 10,000 tonnes this year against a provisional 9,950 in  1986, is relatively insensitive to price falls.  Around a third of silver production comes from heavily  indebted Mexico and Peru.  Price-sensitivity is also reduced by the fact that the  majority of silver is a by-product of other mining activity.  Reuter 
 PAKISTAN-SWEDISH GOODS EXCHANGE AGREED	 ISLAMABAD, March 18 -	 Pakistan and Sweden have signed a  commodity exchange agreement for 88 mln dlrs each way, the  Pakistan government announced.  Pakistan's exports under the agreement will include raw  cotton, cotton products, cotton textiles, steel products,  molasses, naphtha and fresh and dried fruits.  Swedish exports to Pakistan will include medical and  laboratory equipment, electrical telecommunication equipment,  diesel engine spares, mining and security equipment,  road-building and construction machinery, fertilisers and palm  oil.  Reuter 
 HANDY AND HARMAN SEES SUFFICIENT SILVER SUPPLIES	 NEW YORK, March 18 -	 World stocks of silver are large  enough to accommodate any changes in the supply-demand equation  this year, with industrial consumption expected to again exceed  mine production, the dealer house Handy and Harman said in its  annual review of the silver market.  The house estimated that the industry last year withdrew  20,000,000 ounces of silver from stocks to bridge a supply  deficit caused by a consumption rate of 403,000,000 ounces and  production level of 382,000,000 ounces.  However, world stocks are huge, totaling 2,267,900,000  ounces at the end of 1986, it said.  The review noted that world industrial consumption has been  on an uptrend since 1980, although offtake is still 14 pct  below the 1978 level of 442,000,000 ounces.  Handy and Harman said 22,800,000 ounces of silver were used  to produce coins last year, up from 12,700,000 ounces in 1985,  with the demand getting a big boost from the production of U.S.  coins, including the American Eagle.  It also said that in recent years Communist countries have  increased their silver imports and estimated that China and  East Germany alone took in 70,000,000 ounces of foreign silver  in the last five years.  Reuter 
 EAST RAND MINES EXPECT HIGHER GOLD PRODUCTION	 JOHANNESBURG, March 18 -	 East Rand Proprietary Mines Ltd  said that barring any major disruption in production, it  expects 1987 gold output to top 10 tonnes after dropping to  9.223 tonnes last year from 10.251 in 1985.  Chairman Clive Knobbs said in the annual report the mine  was expected to mill a higher tonnage while capital expenditure  during 1987 will be around 118.5 mln rand.  The decline in gold production last year was due to a four  pct drop in tonnage milled and a seven pct decline in grade.  Reuter 
 TAIWAN BUYS 450,000 TONNES OF U.S. CORN	 KANSAS CITY, March 18 -	 Taiwan overnight bought 450,000  tonnes of U.S. number two corn, 14.5 pct moisture, for Gulf and  West Coast shipment in 11 cargoes between May and October,  private export sources said.  Gulf shipment ranged in prices from 75.17 to 78.45 dlrs per  tonne stowed and trimmed, FOB euqivalent, and West Coast  shipments ranged from 79.41 to 81.02 dlrs per tonne, stowed and  trimmed, FOB equivalent, they said.  Reuter 
 RESULTS AWAITED ON EGYPT PL 480 WHEAT TENDER	 KANSAS CITY, March 18 -	 Results were awaited on Egypt's  tender today for 200,000 tonnes of U.S. soft or white wheat for  April shipment under PL 480, private export sources said.  Reuter 
 CZARNIKOW EXPECTS LOWER EUROPEAN SUGAR OUTPUT	 LONDON, March 19 -	 European sugar output on the basis of  three year average yields will be over half a mln tonnes white  value down on last year although yields do vary widely from  year to year, broker C Czarnikow said in its market review.  European Community sowings are likely to be down compared  with last year. There have been suggestions these sowings might  respond to the recent upsurge in world prices, but Czarnikow  said "it is not the sort of fact that easily becomes known."  The broker bases its forecasts on Licht planting estimates  which put W Germany, the Netherlands and USSR lower but  Hungary, Romania, Poland, Turkey and Yugoslavia higher.  Czarnikow's projections in mlns tonnes white value and  three differing yields include  '87/88  max      aver      min    1986/87  France       3.57     3.42     3.28       3.44  W Germany    3.08     2.88     2.64       3.19  EC          13.82    13.01    12.13      13.76  W Europe    17.71    16.45    14.98      16.71  Poland       2.02     1.80     1.13       1.74  USSR         8.65     7.60     5.71       8.05  E Europe    13.87    12.14     9.08      12.44  All Europe  31.58    28.58    24.06      29.15  REUTER 
 NORTH KOREA TO RESURRECT GOLD MINE TO REPAY DEBT	 TOKYO, March 19 -	 Pyongyang and a group of Tokyo-based  North Korean businessmen plan to resurrect a North Korean  goldmine and boost annual output to almost one tonne within two  years from 600 pounds at present, said Li Sangsu, a spokesman  for & lt;Unzan Mine Development Co > , the venture partner.  Work will begin on April 3 and the company aims to increase  output to 10 tonnes within a decade to pay off Pyongyang's 70  billion yen debt to 30 Japanese companies, Li added.  "We expect this mine to be worth about 2,000 billion yen in  gold deposits," he said.  The mine, started in 1896 by a U.S. Company, is one of six  or seven virtually untapped mines in the Unzan area, 94 miles  north of Pyongyang, Li said.  Li said modern equipment and advanced technology would  increase yields. "Up to now, the mining was done with antiquated  methods and basic equipment."  The gold mine scheme is the latest in a series of moves by  North Korea to clear its debts to Japanese creditors.  Earlier this year, Pyongyang tried and failed to pay off  part of its debt with several tonnes of fish.  REUTER 
 SOME 7,000 SOUTH AFRICAN MINERS RETURN TO WORK	 JOHANNESBURG, March 19 -	 Some 7,000 black workers returned  to work after staging one-day strikes at two mines on Monday,  the National Union of Mineworkers and the companies that own  the mines said.  About 6,000 miners resumed work at the Grootvlei gold mine  east of Johannesburg after protesting the transfer of  colleagues to other jobs at the same mine, owners General  Mining Union Corp Ltd & lt;GENM.J > said.  The union said about 1,000 mineworkers at a new coal  facility owned by Anglo American Corp of South Africa Ltd  & lt;ANGL.J > also returned to their jobs on Tuesday.  The workers at Anglo's Vaal Colliery south of Johannesburg  had struck to protest the alleged refusal of officials of the  South African homeland of Transkei to allow miners to attend a  funeral in the homeland, a union spokesman said.  REUTER 
 SOVIET TIMECHARTERING BOOSTS GRAIN FREIGHT RATES	 LONDON, March 19 -	 Current interest by Soviet charterers in  taking Panamax vessels on timecharter, mainly from the U.S. To  carry grain, is seen as the chief factor behind the recent  surge in values on the Baltic International Freight Futures  Exchange (BIFFEX), dealers said.  Futures soared through the 1,000 points barrier today for  the first time in the spot position s ince the market opened in  May 1985. However, the market tends to be nervous, with values  some 100 points above the Baltic Freight Index, which is  calculated on spot physical rates.  No specific figure has been put for Soviet bookings but  they have been sufficient to drain Panamax tonnage (about  50,000 to 65,000 tonnes dw) from the U.S. Gulf which would  normally operate on the trip to Japan, dealers said.  "It appears that the Chernobyl disaster had a worse effect  on its (the Soviet) grain harvest than reported," one said.  Freight rates on the Gulf/Japan grain route have  subsequently been the main beneficiary of current chartering  conditions, with very few, if any, Panamax sized ships left for  the remainder of this month in the Gulf. Rates have risen  steadily for vessels loading next month.  Dealers said there is even talk that owners are considering  taking older vessels out of lay-up to meet current demand.  Sentiment has also been aided by suggestions that Chinese  operators may be in the market for similar timecharter business  later in the year, they said.  They anticipate this would appear around June and it has  prompted keen demand in the July BIFFEX contract, despite it  normally being a slack time in the shipping year.  Market sentiment has fluctuated in recent weeks. Rates  turned down as an earlier rise in bunker prices, which had  supported the market at the start of the year, faltered but  then recovered on the reported Soviet interest.  Reuter 
 MURGOLD RESOURCES & lt;MGDVF > DETAILS ASSAYS	 TORONTO, March 19 -	 Murgold Resources Inc said assays  received from 320 feet of drifting on the number-three vein at  the Chester Township property south of Timmins, Ontario,  indicate an average of 0.528 ounce of gold per ton across an  average width of five feet for the 320-foot length.  The last working face assayed 0.422 ounce of gold per ton  across 8.5 feet and the drift will be continued eastward from  that point, the company said.    Reuter 
 ICCO TO EXAMINE BUFFER STOCK DETAILS TOMORROW	 LONDON, March 19 -	 The International Cocoa Council, ICCO,  adjourned for the day after a detailed proposal on buffer stock  rules was distributed and executive committee officials were  elected, delegates said.  Producers, EC consumers and all consumers are scheduled to  hold separate meetings tomorrow to review the proposal, written  by ICCO executive director Kobena Erbynn, they said.  The buffer stock working group is to meet again on rules  Monday morning, and the full council is to reconvene Tuesday,  delegates said.  Heinz Hofer of Switzerland was elected executive committee  chairman and Mette Mogstad of Norway vice chairman, they added.  Reuter 
 U.S. EXPORTERS REPORT 350,000 TONNES CORN  SWITCHED FROM UNKNOWN TO USSR FOR 1986/87	(NO DATE)	(NO TEXT)
 ICO EXPORTERS TO MODIFY NEW PROPOSAL	 LONDON, Feb 26 -	 International Coffee Organization (ICO)  exporters will modify their new proposal on quota resumption  before presenting it to importers tomorrow, ICO delegates said.  The change, which will be discussed tonight informally  among producers, follows talks after the formal producer  session with the eight-member producer splinter group and will  affect the proposed quota distribution for 12 months from April  one, they said.  The proposed share-out would still include shortfall  declarations, they said.  Reuter 
 PHILIPPINE COPPER SMELTER FACES SHIPMENT DELAYS	 MANILA, March 20 -	 Copper shipments are likely to be  delayed because of power problems at & lt;Philippine Associated  Smelting and Refining Corp > (PASAR), the country's only  smelter, a company official said.  Asked to confirm reports by New York copper trade sources  about PASAR's shipment problems, marketing manager Deogracias  Madrid told Reuters, "They are partly correct. There could be a  probable delay."  Madrid declined to give more details, or production and  export figures, saying the information could lead to  speculation.  PASAR's smelter is in the central province of Leyte.  The New York trade sources said if PASAR's shipments were  delayed, customers might have to turn to the London Metal  Exchange for supply.  "We have a commitment to our customers and I would not like  to comment on that," Madrid said.  A spokeswoman for the Chamber of Mines said Philippine  copper production amounted to 222,644 tonnes in 1986, down  slightly from 226,157 tonnes in 1985. She said production in  the first two months of 1987 totalled 34,550 tonnes, compared  with 36,462 tonnes in the same 1986 period.  REUTER 
 INDIA, AUSTRALIA AGREE T O IMPROVE TWO-WAY TRADE	 NEW DELHI, March 20 -	 Indian and Australian businessmen  signed a memorandum of understanding to boost two-way trade and  joint industrial ventures in both countries, spokesmen of the  Indo-Australia Business Council told reporters.  The Indian Council said it hoped India's exports to  Australia would improve in the next few months and reduce the  trade balance which is heavily in Australia's favour.  In 1986 Australia sold 428 mln Australian dlrs' worth of  goods, including steel and coking coal, to India and bought  170.5 mln worth of items, including cotton textiles, from India.  Reuter 
 NO FORCE MAJEURE ON LEAD FROM CAPPER PASS	 LONDON, March 20 -	 U.K. Smelter Capper Pass denied rumours  that the company had declared, or was about to declare, force  majeure on lead deliveries.  This followed trader talk on the London Metal Exchange,  LME, after broker bids were made at increased premiums for  Capper Pass brand material.  Traders said some slight production problems seem to exist  but are unlikely to have any impact on the market. Lead values  on the LME today were unchanged around 299 stg per tonne for  three months delivery after thin business in a one stg range.  Reuter 
 U.K. LEAD AND ZINC OFFTAKE RISES IN JANUARY	 LONDON, March 20 -	 U.K. Consumption of lead and zinc in all  forms during January rose to 26,314 and 18,778 tonnes, from  24,967 and 17,929 tonnes respectively in December, latest  figures by the World Bureau of Metal Statistics (WBMS) show.  Refined lead consumption rose to 23,992 tonnes from 23,194,  while scrap offtake was 2,322 tonnes against 1,773.  Slab zinc consumption was 14,257 tonnes against 14,190  during December, while offtake of scrap and re-melted metal was  4,521 tonnes against 3,739.  Meanwhile production of refined lead in January rose to  28,188 tonnes from 23,693 in December, but slab zinc production  fell to 4,490 tonnes from 5,793, the WBMS figures showed.  Stocks of slab zinc totalled 14,780 tonnes, down from  December's 15,008.  Reuter 
 COPPER STOCKS OUTSIDE U.S. INCREASE IN DECEMBER	 NEW YORK, March 2 -	 Refined copper stocks held by  refineries outside the U.S. increased to a preliminary 277,500  short tons at the end of December from a preliminary 270,000  short tons (revised higher) at the end of November, the  American Bureau of Metal Statistics said.  London Metal Exchange stocks fell to 193,100 tons in  December from 194,400 tons in November. Combined refinery and  LME stocks rose to a preliminary 470,600 tons from 464,400 tons  (revised higher). January LME stocks were 193,400 tons.  Preliminary figures showed refined production outside U.S.  lower at 377,300 tons in December versus 384,000 tons in  November. Crude output decreased to 421,500 tons from 427,000  tons (revised higher). Refined copper deliveries decreased to  359,800 tons from 375,400 tons (revised lower).  Reuter 
 FORMER GOLD FIRM EXECUTIVES ARRESTED IN JAPAN	 OSAKA, Japan, March 21 -	 The public prosecutors and police  here arrested five former senior executives of a bankrupt gold  deposit business group for defrauding about 450 clients of  about 1.5 billion yen for gold bars which were never delivered,  police said.  The case involving the Toyota Shoji Company was highlighted  when its 32-year-old Chairman Kazuo Nagano was stabbed to death  here in public view in June, 1985.  Television crews which had been waiting outside Nagano's  home filmed two men smashing their way into the home and later  emerging with a bloodstained bayonet.  The company, established here in 1981, undertook to hold  gold on deposit for investors. It grew into a nationwide  business operation with 87 branch offices and 7,000 employees  at its peak in early 1985.  Toyota Shoji's business group collected an estimated 200  billion yen from about 30,000 clients, many of them pensioners  and housewives, before the firm went bankrupt in July, 1985,  according to lawyers.  Of them, some 18,000 clients claimed they could get back  neither gold or money, suffering an aggregate loss of 150  billion yen, local press reports said.  Police said the five arrested on charge of fraud today  included Hiroshi Ishikawa, 47, former Toyota Shoji president,  and a sixth former executive was placed on a wanted list.  They were suspected of having collaborated with the late  Nagano in swindling about 1.5 billion yen from about 450 people  in Osaka and nearby Kobe during a six month period just before  the firm's bankruptcy, they said.  Today's arrest came after narly two years of joint  investigation by the public prosecutors and police, who had  questioned about 3,000 of the firm's former employees,  police sources said.  REUTER 
 U.S. BRASS MILL COPPER STOCKS LOWER IN JANUARY	 NEW YORK, March 2 -	 U.S. brass mill copper stocks fell to  185,400 short tons (copper content) at the end of January from  191,200 short tons at the end of December, according to the  American Bureau of Metal Statistics.  Consumption by brass mills increased to 60,700 short tons  in January from 48,900 short tons in December.  Mills consumed 29,600 tons of refinery shapes in January  versus 24,000 tons in December. Scrap consumption increased to  31,100 tons in January from 24,900 tons in December.  Total brass mill shipments increased to 69,600 tons in  January from 54,400 tons in December, while receipts rose to  63,800 tons from 47,100 tons.  Reuter 
 BANGLADESH FORECASTS GDP GROWTH OF 4.4 PCT	 DHAKA, March 23 -	 Gross domestic product is expected to  grow by 4.4 pct in the year ending June 30, Finance Minister  Mohammad Syeduzzaman told reporters.  Inflation fell to an estimated 12 pct this fiscal year from  17 pct in 1981/82, he said last night.  The World Bank and other independent sources have said  inflation would be around 15 pct in 1986/87.  Syeduzzaman said remittances from expatriates would rise to  600 mln dlrs this year from 425 mln in 1981/82.  Foreign exchange reserves at end-June are projected at 680  mln dlrs compared with 105 mln in 1981/82, he said.  Syeduzzaman said the export target has been set at 900 mln  dlrs this year against 626 mln in 1981/82. Commitments for  foreign loans and grants total more than five billion dlrs in  1986/87, against 3.54 billion five years previously, he said.  The government's liberal industrial policy has attracted  investment commitments totalling 250 mln dlrs, he said  Foodgrain output is estimated at 16.4 mln tonnes this year,  up from 16.12 mln in 1985/86 and 14.4 mln in 1981/82.  Government officials have said Bangladesh must import  nearly two mln tonnes of grain annually up to 1990, when the  government expects to attain self-sufficiency in food.  REUTER 
 ZINC PRODUCERS APPROACH EC ON VOLUNTARY CLOSURES	 BRUSSELS, March 23 -	 A number of individual zinc producing  companies have approached the European Commission to sound out  its reaction to a possible industry plan for a voluntary  reduction of smelting capacity, Commission sources said.  The companies have been told that the Commission could not  judge whether a plan would be acceptable under European  Community, EC, competition rules until it had full details,  they said.  In 1983, the industry drew up a plan envisaging the loss of  about 130,000 tonnes of annual capacity, or about 10 pct of the  total.  However, the industry did not proceed with this plan as  zinc market conditions improved in 1984, the sources noted.  They said the companies which approached the Commission  recently -- and which they did not name -- appeared to envisage  a loss of productive capacity similar to that proposed in 1983.  Reuter 
 BP & lt;BP > UNIT TO BUILD GOLD EXTRACTION PLANT	 DENVER, March 23 -	 Amselco Minerals Inc, a unit of British  Petroleum Co PLC, said it approved construction of a new plant  with Nerco Minerals Co to process carbon ore to recover  microscopic gold reserves.  The plant, to be located at the Alligator Ridge Mine near  Ely, Nev., will process 1,000 tons a day of carbon-bearing ore  to recover 70,000 ounces of gold over three years, it said.  The plant will use a chemical process called leaching to  extract the residual gold, which could not otherwise be  economically recovered. Operation of the plant, to be jointly  owned by Amselco and Nerco, is set to start in October.  The Alligator Ridge Mine is jointly owned by Amselco and  Nerco, a unit of Nerco Inc & lt;NER > , which is 90.5 pct owned by  Pacificorp & lt;PPW > , a Portland, Ore., holding company.  The mine has produced about 60,000 ounces of gold a year  since 1981 using another leaching process, a BP spokesman said.  The open pit oxide ore reserves of Alligator Ridge will be  exhausted by August 1987, as expected, when the work force will  be reduced to about 72 from 127, the company said.  The employees remaining after that will operate the new  plant, it said.  Reuter 
 BANGEMANN DENIES NEWSPAPER INTERVIEW ON SUBSIDIES	 BONN, March 23 -	 The West German Economics Minister today  denied giving a newspaper interview which quoted him as saying  the state could not continue to pour money into the country's  ailing steel and coal industries.  Economics Ministry spokesman Dieter Vogel said in a  statement Bangemann had contacted him from New Zealand, where  he is attending a General Agreement on Trade and Tariffs (GATT)  ministerial meeting, to deny giving the interview to the  conservative daily Die Welt. The paper quoted Bangemann as  saying that continued subsidies would endanger other parts of  the German economy by making them uncompetitive.  Vogel said Bangemann had pledged that everything possible  would be done to minimize the effects of reduced coal and steel  production on the workforces and regions concerned.  Die Welt said the interview with Bangemann had taken place  at a meeting of his Free Democratic Party (FDP) in Darmstadt  last Friday, adding that it had a tape recording of his  comments which it would publish tomorrow.  Reuter 
 1987 U.S. SOYBEAN LOAN SHOULD STAY SAME-AMSTUTZ	 WASHINGTON, MARCH 23 -	 Congress should give the U.S.  Agriculture Secretary the authority to keep the 1987 soybean  loan rate at the current effective rate of 4.56 dlrs per bushel  in order to help resolve the problem of soybean export  competitiveness, USDA undersecretary Dan Amstutz said.  Speaking to reporters following a Senate Agriculture  Appropriations hearing, Amstutz suggested that one way out of  the current soybean program "dilemma" would be for Congress to  allow the loan rate to remain at 4.56 dlrs. He indicated if the  loan rate were 4.56 dlrs, USDA could then consider ways to make  U.S. soybeans more competitive such as using certificates to  further buydown the loan rate.  Under current law, the 1987 soybean loan rate cannot be  less than 4.77 dlrs per bu.  Amstutz' suggestion would be for Congress to change the  farm bill to allow USDA to leave the soybean loan rate at 4.56  dlrs in crop year 1987 rather than increase it to 4.77 dlrs.  The 1986 effective loan rate is 4.56 dlrs because of the  4.3 pct Gramm-Rudman budget cut.  Amstutz stressed that a major factor in any decision on  soybean program changes will be the budget costs.  He told the hearing that the problem in soybeans is that  the U.S. loan rate provides an "umbrella" to foreign production  and causes competitive problems for U.S. soybeans.  Asked about the American Soybean Association's request for  some form of income support, Amstutz said "the competitive  problem is the most severe." He said USDA is still studying the  situation and "no resolution" has yet been found.  Reuter 
 PORTUGUESE GRAIN AGENCY BAN TO REMAIN - EC SOURCES	 BRUSSELS, March 24 -	 A ban by a Portuguese court on the  state buying agency EPAC taking part in cereals import tenders  open to private traders will remain unless it is reversed in  Portugal or challenged in the European Court of Justice,  European Commission sources said.  They denied a statement yesterday by Portuguese Agriculture  Minister Alvaro Barreto that the commission had accepted that  EPAC should be eligible, saying it had taken no view in the  matter.  Under the terms of Portugal's accession to the European  Community, a grain import monopoly held by EPAC is being  reduced by 20 pct annually until all imports are liberalised in  1990.  Lisbon's civil court decided in a preliminary ruling  earlier this month that EPAC should not be allowed to take  part, as it had done in the past, in tenders for the  liberalised share of annual grain imports.  REUTER 
 HECLA & lt;HL > TO BUY MINE STAKE FROM BP & lt;BP > UNIT	 COEUR D'ALENE, Idaho, March 24 -	 Hecla Mining Co said it  has agreed to purchase a 28 pct interest in the Greens Creek  Joint Venture from British Petroleum Co PLC's Amselco Minerals  Inc unit.  The venture expects to bring into production a  gold-silver-lead-zinc ore body on Admiralty Island, Alaska,  containing about 3,500,000 short tons of ore assaying about  0.18 ounce of gold, 24.0 ounces of silver, 9.7 pct zinc and 3.9  pct zinc per short ton, Hecla said.  It said there is  significant potential for the discovery of additional ore.  Hecla said initial production from a trackless underground  mine is scheduled for late 1988 at a rate of about 1,000 tons  or ore per day.  "At this rate, the Greens Creek mine will be  the largest domestic silver mine and is expected to be one of  the lowest cost producers."  The company said it estimates its total investment in the  project, including its share of preproduction costs, at about  45 mln dlrs, to be funded through internally generated cash and  existing lines of credit.  It said Amselco will retain a  majority interest in the project.  Other interest holders are  CSX Corp & lt;CSX > and & lt;Exaias Resources Corp > .  Reuter 
 BELGIUM DETAILS PRICING PLAN FOR ECU GOLD COIN	 BRUSSELS, March 24 -	 The 50 European Currency Unit gold  coins which go on sale tomorrow in Belgium will be priced at a  premium of seven pct to the value of the gold they contain, a  Finance Ministry spokesman said. The price will be calculated  daily, based on the daily gold fixing in London.  Belgium is minting an initial 50,000 gold coins to  celebrate the 30th anniversary of the European Community's  founding Treaty of Rome, but final production is expected to be  around 200,000. Each 17.27 gram coin will contain 55 grams of  fine metal.  Two mln silver coins, face value five Ecus, will be sold at  500 francs each.  REUTER 
 & lt;D'OR VAL MINES LTD > FINDS HIGH-GRADE ORDER	 VANCOUVER, March 24 -	 D'Or Val Mines Ltd said a recent  drill hole from the surfrace has intersected high-grade ore in  a downdip extension of the Discovery Vein in its D'Or Val Mine  in northern Quebec.  The company said 42.3 feet of the hole graded 0.92 ounce  per short ton of gold, including a 17.5 foot section grading  2.17 ounces.  It said the zone is just below the projection of the  seventh level of the mine about 1,450 feet below the surface  and 820 feet west of the shaft.  D'Or Val said this find and other recent ones will make  substantial contributions to the mine's ore reserves and grade.  Reuter 
 USX & lt;X > USS UNIT RAISES PRICES	 LORAIN, Ohio, March 24 -	 USX Corp's USS subsidiary said  that effective with shipments beginning July 1 prices for all  leaded grades and 1200-series grades of hot rolled bar and  semi-finished products from its Lorain, Ohio, facility will be  increased by 15 dlrs a ton over the prices in effect June 1.  It said the increase is being made to reflect current  market conditions.  Reuter 
 GOLDEN NORTH HAS ENCOURAGING DRILL RESULTS	 VANCOUVER, British Columbia, March 24 -	 Golden North  Resource Corp said said surface and underground drilling on the  Canty project and Mascot fraction at its Nickel Plate Mountain  property in British Columbia returned encouraging gold assays.  It said one Canty hole encountered several mineralized  intervals including 11 feet grading 0.342 ounce gold a short  ton from 86 to 97 feet and 17 feet grading 0.756 ounce gold ton  from 170.5 feet to 187.5 feet.  A Mascot fraction hole returned assays including 0.190  ounce gold ton over seven feet between 57 and 64 feet, it said.  Reuter 
 WEST GERMANS TO MINT COMMUNITY ANNIVERSARY COIN	 BONN, March 25 -	 The West German Cabinet approved a plan to  mint a special 10-mark coin commemorating the 30th anniversary  of the European Community this year.  The silver-copper alloy coin will be minted in an edition  of 8.35 mln, a Finance Ministry statement said.  REUTER 
 KRUPP TO BUILD SOUTH KOREAN STEEL PLANT	 ESSEN, West Germany, March 25 -	 Fried. Krupp GmbH said its  Krupp Industrietechnik GmbH subsidiary has won a 130 mln marks  joint order with Samsung Shipbuilding and Heavy Industries Co.  Ltd of Seoul for a steel works in Pohang, South Korea.  It said the order, awarded by the Pohang Iron and Steel Co.  Ltd, involves a works due to go on stream in 1989 producing  250,000 tonnes of non-corrosive quality steels annually.  The consortium partners will supply the plant, supervise  its construction and advise on product processing, with Krupp  providing a 100-tonne capacity arc furnace and a converter for  steel refining.  The West German company will supply ladles, vehicles,  electrical and exhaust cooling apparatus and dust filters. It  will also fit out the plant's laboratory.  Among other things Krupp said it will provide know-how for  all production phases and train the Korean workforce.  It said Samsung will take care of the Korean part of the  engineering and electrical work, the water treatment and other  mechanical equipment, according to Krupp basic engineering.  Extruded ingots from the plant will be converted to sheet  in an existing hot rolling mill. The sheet will be processed in  facilities which are to be erected, Krupp said.  REUTER 
 EC EXPORT LICENCES FOR 59,000 TONNES WHITE  SUGAR AT REBATE 45.678 ECUS - FRENCH TRADERS	(NO DATE)	(NO TEXT)
 THAI SUGAR PRODUCTION CONTINUES HIGH IN FEB	 LONDON, March 25 -	 Thai sugar production continued at a  high level in February, latest figures received by the  International Sugar Organization (ISO) show.  The figures show stocks at end-February of 2.49 mln tonnes  raw value against 2.33 mln a year earlier. Analysts said this  was a new peak for the date.  Production in February was 961,000 tonnes against 888,000  in February 1986 and took the Nov/Feb total for the current  crop to 2.25 mln tonnes. Production normally tails off sharply  after March, but in recent years production from March to the  end of the crop has been over 500,000 tonnes, analysts said.  Thailand's exports in February were 32,800 tonnes and  consumption 57,800.  Last month the Thai Agriculture Ministry said 1986/87  production was expected to fall to 2.3 mln tonnes from 2.48 mln  in 1985/86.  Reuter 
 NEWMONT GOLD SEES ITS SALES RISING 22 PCT	 NEW YORK, March 25 -	 Newmont Gold Corp expects gold sales  in 1987 to rise about 22 pct to 577,000 ounces from 1986's  474,000 ounces, the company said in its annual report.  Newmont Gold, 95 pct owned by Newmont Mining Corp, said it  expects significant increases in gold sales in 1988 and 1989 as  well.  Reuter 
 COCOA COUNCIL CHAIRMAN SEEKS BUFFER COMPROMISE	 LONDON, March 25 -	 International Cocoa Organization, ICCO,  Council chairman, Denis Bra Kanon, said he will attempt to  reach a compromise on buffer stock rules for the International  Cocoa Agreement.  Bra Kanon called for bilateral consultations among  producers and consumers Thursday morning to resolve outstanding  differences on how much non-member cocoa the buffer stock can  purchase and differentials to be fixed for different origin  cocoa, consumer delegates told reporters.  Bra Kanon is expected to meet with about eight delegations  individually in attempt to iron out remaining problems.  Producers and consumers indicated support "in principle" for  the draft buffer stock rules package formulated over the past  week by a small working group, consumer delegates said.  Despite remaining differences delegates remained confident  a buffer stock accord would be agreed to by Friday when the  council session ends, but certain technical points need further  clarification, the delegates said.  Certain consumers are concerned that differentials included  in the draft buffer stock package are out of line with market  realities, consumer delegates said.  Unless these are modified there are fears it would promote  purchases of quality cocoas, such as Ghana origin, which are  normally required by manufacturers, they said.  Restrictions on buffer stock purchases of non-member cocoa  might lead to a supply overhang in Malaysian cocoa, which would  depress prices, they added.  Reuter 
 IWC SAYS EFFECT OF LOWER SUPPORT PRICES LIMITED	 LONDON, March 26 -	 Efforts by governments to control wheat  surpluses by cutting support prices have met with only partial  success, the International Wheat Council (IWC) says in its  latest monthly report.  Faster results could be achieved by a policy of reducing  both price and areas, as employed in the United States, the IWC  says in a survey of support prices in the five main wheat  exporters - Argentina, Australia, Canada, the EC and the U.S.  In some countries, for example Australia and Argentina,  which are highly dependent on wheat shipments for export  income, there may be problems in reducing production.  A policy of cutting wheat production could lead to  unemployment, with job prospects outside agriculture limited.  Alternative crops may offer inferior returns which could then  lead to lost export revenue and balance of payments problems.  The IWC outlines three courses of action open to  governments in wheat exporting countries.  They could continue to support prices in the hope that when  the world economy improves demand for wheat will rise and  surpluses wil be reduced or eliminated.  Alternatively, support could be limited to wheat which  could be easily sold, without needing to be stored for a long  period.  This option may prove to be the most politically  unattractive and would result in many producers abandoning  wheat production, the report said.  The third option would be for governments to distinguish  between the commercial and social aspects of agriculture,  possibly varying support prices according to farm size or  overall production.  The IWC review covers support prices in the major exporting  countries since 1982. At some time during that period all the  producers cut support prices in response to growing surpluses.  These changes did not always result in lower export  subsidies as on several occasions currency fluctuations more  than offset lower prices in the domestic currency.  For example between 1985/86 and 1986/87 the EC intervention  price for bread wheat fell from 209.30 to 179.44 European  currency units (Ecus). It dollar terms, the currency in which  most export transactions are denominated, the intervention  price however rose to 193 dlrs from 168. The high cost of  supporting farm prices has put a strain on national exchequers  and some governments are now searching for ways to cut  expenditure, the report says.  The proportion of world wheat output produced by the five  major exporters declined in the period covered by the survey  from 40 pct in 1982 to 35 pct in 1987. This was partly due to  increased production in China and India.  The period saw an upward trend in yields, although this was  countered in the Argentina, the U.S. And Australia by lower  acreages.  In Argentina a reduction in the sown area of about 20 per  cent was put down to low prices causing producers to switch to  other enterprises, particularly livestock while lower U.S.  Acreages are attributed to official incentives.  REUTER 
 GERMAN ANALYSTS SEE GOLD RISING IN 2ND HALF 1987	 FRANKFURT, March 26 -	 The price of gold bullion is likely  to rise in the second half of the year on increased private  investor demand, West German analysts said.  Gold could rise as high as 500 dlrs per ounce later this  year, said Peter Witte, director of Westdeutsche Landesbank  Girozentrale's trading division, after a presentation by the  U.S. Mint to promote its gold and silver Eagle series coins.  "A lot will depend on oil prices and developments on stock  exchanges," Witte said, adding he saw gold positioned for  further rises once it breaks out above 450 dlrs.  Gold was fixed this morning in London at 411.30 dlrs.  Despite current strong interest in gold mine stocks, many  investors still want to buy physical gold, Witte said.  Interest in gold mine stocks may also wane if stock  exchange rallies under way in many countries start to waver.  Hermann Strohmeyer, vice president of Commerzbank AG's  foreign exchange trading and treasury department, said gold is  poised to rise to 460 to 470 dlrs an ounce in the second half  of this year.  The price is unlikely to fall much below 380 or 390 dlrs an  ounce, and probably will continue in a range between 380 and  430 dlrs in the first half of this year, he said.  REUTER 
 GERMAN ANALYSTS SEE GOLD FIRMING LATER THIS YEAR	 FRANKFURT, March 26 -	 The price of gold bullion is likely  to rise in the second half of the year on increased private  investor demand, West German analysts said.  Gold could rise as high as 500 dlrs per ounce later this  year, said Peter Witte, director of Westdeutsche Landesbank  Girozentrale's trading division, after a presentation by the  U.S. Mint to promote its gold and silver Eagle series coins.  "A lot will depend on oil prices and developments on stock  exchanges," Witte said, adding he saw gold positioned for  further rises once it breaks out above 450 dlrs.  Gold was fixed this morning in London at 411.30 dlrs.  Despite current strong interest in gold mine stocks, many  investors still want to buy physical gold, Witte said.  Interest in gold mine stocks may also wane if stock  exchange rallies under way in many countries start to waver.  Hermann Strohmeyer, vice president of Commerzbank AG's  foreign exchange trading and treasury department, said gold is  poised to rise to 460 to 470 dlrs an ounce in the second half  of this year.  The price is unlikely to fall much below 380 or 390 dlrs an  ounce, and probably will continue in a range between 380 and  430 dlrs in the first half of this year, he said.  Reuter 
 DUTCH GRAIN LEVY TEST CASE TO START IN APRIL	 ROTTERDAM, March 26 -	 A large Dutch animal feed compounder  will begin formal legal proceedings early next month as a test  case on the way the EC grain co-responsibility levy is applied,  a spokesman for Dutch grain and feed trade association, Het  Comite, told Reuters.  Het Comite has been co-ordinating national actions against  alleged distortions caused by currency factors in the levy and,  since December, has lodged more than 80 individual cases with  the Business Appeal Court in The Hague.  The basic complaint is that the levy does not take account  of currency cross-rates of exchange and therefore compounders  in countries with strong currencies may have to pay more in  their own currency than is paid to them by producers in another  country.  Het Comite has obtained a temporary agreement that  companies can pay the amount they receive toward the levy  rather than paying a full guilder amount to the Dutch grain  commodity board.  The spokesman said Het Comite will provide financial and  legal backing to the test case in the Business Administration  Court in the Hague. Oral proceedings are to begin on April 10.  The spokesman said Het Comite finally selected the company  for the test case from among the 80 lodged "because the bill  (the firm) received from the commodity board for payment of the  levy contained significant currency distortions and involved  grain from a wide variety of origins." The name of the company  is not being made public.  The Administration Court is not expected to make a final  ruling on the case in the near future. The Het Comite spokesman  said it was very likely it would refer questions to the Appeal  Court in Luxembourg, and "as a result it could easily be another  nine to 12 months before the matter is finally resolved."  Meanwhile, the actions by Dutch animal feed compounders are  putting pressure on the commodity board to urge the Dutch  government to follow through on earlier statements and seek a  complete review in Brussels of the way in which the levy is  collected, the spokesman said.  Het Comite, as a member of FEFAC, the association of  European animal feed manufacturers, is also a party to actions  protesting the whole levy in the Luxembourg appeal court.  Reuter