Read more: Growth in Saudi Arabia’s net foreign assets resumed in MarchĪt the same time, Saudi banks' claims on the government sector also grew in March by SR5.74 billion - a relatively modest increase of 1.0 percent month-on-month. The indicator has seen a steady monthly growth since July 2019. The month-on-month rise is the highest since March 2021.īank claims - made mostly of loans, advances and overdrafts - is an important indicator of the economy’s health as it represents the amount of bank credit provided.īank claims on the private sector grew by SR43.8 billion from SR2.09 trillion in February. Saudi banks’ claims on the private sector increased by 2.1 percent in March, reaching SR2.13 trillion, according to a monthly report from the Saudi Central Bank, also known as SAMA. The data on Wednesday showed that soybean imports from Brazil in March were 2.87 million tons, up from 315,334 tons a year earlier.Ĭhina brought in 6.37 million tons of the oilseed from Brazil in the first quarter, up 370 percent from 1.35 million tons a year earlier.
US cargoes in March last year were further boosted as the rain slowed the harvest and exports from Brazil, China’s top supplier of the beans. Last year’s imports were supported by Beijing's increased purchases of US farm goods, including soybeans, after an initial trade deal in January 2020 between the two countries. The trend for the year in US shipments was lower, with imports during the first three months of 2022 falling 30 percent from a year earlier to 13.4 million tons, according to the data. (Shutterstock)Ĭhina’s soybean imports from the US plunged in March from a year earlier, customs data showed on Wednesday, as poor margins curbed buying.Ĭhina, the world’s top importer of soybeans, brought in 3.37 million tons last month from the US, down from 7.18 million a year earlier, data from the General Administration of Customs showed. But it came after Australia imposed an export ban on alumina and aluminum ores to Russia as part of Western-led sanctions against Moscow.Īnalysts had expected Russia could source the ingredient from China, though challenges exist as China needs to fulfill its domestic demand first and may be worried about secondary sanctions from the West.Ĭhina’s March soybean imports from the US fallĪ farmer holds harvested soybeans in his hands on his farm in Chesterfield Township, New Jersey. The volume is still tiny compared with China’s monthly output of more than six million tons.
Its total alumina exports last month soared 180 percent year-on-year to 12,955 tons. In March, China shipped 9,949 tons of alumina to Russia, up from 104.5 tons the same month in 2021, according to the General Administration of Customs. Soybeans gained 0.2 percent at $16.95 a bushel and wheat rose 0.3 percent to $11.11-3/4 a bushel.Ĭhina’s March alumina exports to Russia soarĬloseup view of alumina tubes (Shutterstock)Ĭhina’s alumina exports to Russia surged over 90 times in March from the same period a year earlier, customs data showed on Wednesday, as sanctions against Russia for its invasion of Ukraine cut off some of its traditional supplies.
The most-active corn contract was unmoved at $7.99-3/4 a bushel, as of 0422 GMT, but not far from its highest since September 2012 reached on Tuesday. Palladium gained 0.9 percent to $2,394.05 on Wednesday.Ĭhicago corn was largely unchanged on Wednesday and scaled near a decade-high in the previous session, as traders fretted over planting delays in the US and a lack of supplies from war-torn Ukraine. Spot silver dipped 0.4 percent to $25.05 per ounce, while platinum eased 1.4 percent to $976.64. On Tuesday, prices had fallen up to 1.8 percent as a stronger dollar and rising Treasury yields overshadowed safe-haven inflows into the metal. US gold futures fell 0.7 percent to $1,944.80. Spot gold was down 0.3 percent at $1,944.06 per ounce, as of 0430 GMT, after hitting its lowest since April 11. RIYADH: Gold prices fell on Wednesday to their lowest in more than a week, as an elevated US dollar and Treasury yields continued to weigh on demand for bullion.
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