Chicago Soybeans Jump to Three-Year High on U.S. Acreage; Tokyo Limit-Up

(Bloomberg) -- Chicago soybean futures jumped to a
three-year high after a government report showed U.S. farmers
planted less than analysts expected and the fewest acres in 12
years.

Soybean acreage was slashed as farmers planted more corn,
which reached a 10-year high in February, driven by record demand
for ethanol and animal feed. When farmers were making planting
decisions in early March, corn had gained 82 percent from a year
earlier, while soybeans were up 29 percent.


Read more at Bloomberg Commodities News

South Korea's Kospi Index Gains; LG.Philips, Samsung Heavy Lead Advances

(Bloomberg) -- South Korea's benchmark stock index,
the Kospi Index, rose 0.07 percent at 9:05 a.m.

The index of 730 companies traded on the Korea Exchange rose
1.20 to 1,744.80. Among the stocks in the index, 365 rose, 213
fell and 152 were unchanged.


Read more at Bloomberg Stocks News

China May Raise Fuel Price If Crude Stays at $70, Says Energy Researcher

(Bloomberg) -- China's government may increase fuel
costs if the global crude price stays as high as $70 a barrel,
said an energy research fellow with the nation's top economic
planner.

``Otherwise refiners will suffer more losses,'' Jiang
Xinmin, an expert with the Energy Research Institute of the
National Development and Reform Commission, told reporters at
the sidelines of an oil conference in Shanghai June 30, without
elaborating.


Read more at Bloomberg Energy News

U.S. Gasoline Pump Prices Likely to Keep Climbing After July Fourth Break

(Bloomberg) -- Americans taking to the highway over
the July Fourth holiday face gasoline prices that are higher
than a year ago and likely to climb further by the end of
summer.

In four of the past five years, the pump price in the U.S.
peaked in late summer or early fall, according to Energy
Department data. Below-normal fuel inventories and the
possibility that hurricanes will disrupt refineries and
pipelines may cause gasoline to top the record set last month,
when prices touched $3.227 a gallon on average nationwide.


Read more at Bloomberg Energy News

Gas May Rise in New York on Buying After Last Week's Decline, Survey Shows

(Bloomberg) -- Natural gas in New York may rise next
week as buyers enter the market after the August contract tumbled
7 percent from the June 22 close of $7.26 to today's close of
$6.773 per million British thermal units.

Seven of 16 traders and analysts, or 44 percent, said New
York gas futures will rise, while three others, or 19 percent,
said prices will fall, according to a survey today by Bloomberg
News. Six respondents, or 38 percent, said prices will be little
changed. The percentages may not total 100 because of rounding.


Read more at Bloomberg Energy News

Yen's Drop to 22-Year Low Threatens Earnings at Nissan, Canon, Mitsubishi

(Bloomberg) -- Nissan Motor Co., Canon Inc. and
Ricoh Co. say the yen's slump to a 22-year low is too much of a
good thing for Japan's exporters.

Nissan, the nation's third-biggest carmaker, can't afford
to rely on exchange rates to compete, Chief Executive Officer
Carlos Ghosn says. Canon Chairman Fujio Mitarai, head of the
country's largest business lobby, and Ricoh President Masamitsu
Sakurai, leader of the biggest executive group, said the yen's
drop is becoming a concern.


Read more at Bloomberg Currencies News

Uganda bans plastic bags, promotes banana leaves

(Reuters) - A ban on plastic bags in Uganda took effect on Sunday to cut down the stinking piles of rubbish that litter its dusty capital and other urban areas, breeding germs and poisoning water supplies.

Officials want Ugandans to instead use banana leaves, the traditional material for carrying goods.


Read more at Reuters Africa