United Kingdom

Colin Packham

Australia's conservative coalition secures parliamentary majority

9:09am BST

SYDNEY Australia's conservative coalition secured an outright parliamentary majority on Monday following a shock election victory, allowing Prime Minister Scott Morrison to progress his legislative agenda without the support of independents.

GRAINS-Corn jumps more than 1% as rains threaten more delays

2:51am BST

By Colin Packham SYDNEY, May 20 U.S. corn futures rose more than 1% on Monday to hit a 10-month high as showers across a key growing region stoked fears of more planting delays. FUNDAMENTALS * The most active corn futures on the Chicago Board of Trade rose 1.3% to $3.88-1/4 a bushel by 0119 GMT, near the session high of $3.88-1/2 a bushel - the highest since July 2018. * The most active wheat futures were up 1.4% at $4.71-1/2 a bushel, after closing little down 0.4 percent on Friday. * The most active soybean futures added nearly 1% at $8.29-1/2 a bushel after closing down 2.1% on Friday. * Showers over the next 10 days are threatening to further slow planting from the Dakotas to Illinois, regions that have endured torrential rain this spring, the Commodity Weather Group said. * The delayed planting season across much of North America is starting to cause economic ripple effects along the farm supply chain. Executives at agricultural equipment maker Deere & Co on Friday warned that farmers are becoming "much more cautious about making major purchases," in part because of the weather impact on planting. * Traders are anxious, too, to see the U.S. Department of Agriculture's next crop update on Monday to see whether farmers made much headway during relatively drier conditions earlier this week. MARKET NEWS * The Australian dollar got a boost against the greenback on Monday following a surprise election victory by the country's conservative government, while the yen dipped slightly on a recovery in market sentiment. * Oil prices jumped as much as 1 percent on Monday after Saudi Energy Minister Khalid al-Falih indicated there was consensus among OPEC and allied oil producers to continue limiting supplies. Grains prices at 0119 GMT Contract Last Change Pct chg Two-day chg MA 30 RSI CBOT wheat 471.50 6.50 +1.40% +0.96% 448.55 78 CBOT corn 388.25 5.00 +1.30% +2.44% 366.67 80 CBOT soy 829.50 7.75 +0.94% -1.22% 861.73 51 CBOT rice 11.07 -$0.01 -0.05% +1.47% $10.74 84 WTI crude 63.64 $0.88 +1.40% +1.22% $63.34 65 Currencies Euro/dlr $1.116 $0.001 +0.06% -0.08% USD/AUD 0.6914 0.005 +0.67% +0.32% Most active contracts Wheat, corn and soy US cents/bushel. Rice: USD per hundredweight RSI 14, exponential (Reporting by Colin Packham; editing by Richard Pullin)

Oil jumps as Saudi Arabia suggests OPEC+ to keep production cut plan

1:27am BST

SYDNEY, May 20 Oil prices jumped as much as 1 percent on Monday after Saudi Energy Minister Khalid al-Falih indicated there was consensus among OPEC and allied oil producers to continue limiting supplies.

Miracle win offers Australian PM authority and government stability

19 May 2019

SYDNEY Australian Prime Minister Scott Morrison may have won more than just another three years in office for his conservative coalition government.

Australia's 'larrikin' former prime minister Bob Hawke dies at 89

17 May 2019

SYDNEY Bob Hawke, a transformative and charismatic left-wing lawmaker with a "larrikin' streak who served as Australian prime minister from 1983 to 1991, died on Thursday aged 89, his family said. | Video

Australian politicians scramble to win over undecided voters, honour former PM

17 May 2019

SYDNEY Australian politicians scrambled to win over undecided voters on Friday, the last day of a general election campaign that has ended in mourning for one of the country's most popular leaders.

Australian leaders make last poll pitch, mourn former PM Hawke

16 May 2019

SYDNEY Australia's political leaders on Thursday made their last big pitch to voters ahead of a May 18 election, with the death of Bob Hawke, the opposition Labor party's longest-serving prime minister likely to loom over the political scene in coming days.

Oil extends gains into third session amid Middle East tensions

16 May 2019

SYDNEY, May 16 Oil prices edged up on Thursday to extend gains into a third straight session, as tensions in the Middle East stoked fears of potential disruptions to supply.

Australia to import first wheat in 12 years as drought bites

15 May 2019

SYDNEY, May 15 Australia will import its first shipment of wheat in more than a decade as a drought across the country's east coast wilts supply in the world's fourth largest exporter of the staple grain.

Australia weather bureau sees reduced El Nino threat

14 May 2019

SYDNEY A recent cooling of the Pacific Ocean has reduced the threat of an El Nino weather event developing this year, Australia's Bureau of Meteorology (BOM) said on Tuesday.

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