Chicago Corn and Soybean soar to 29 month high in the last trading session of Y 2010

Chicago Corn hit a new 29 month high Friday, the last trading session of Y 2010, as a break in the USD fueled fund buying.

Soybean reached a 28-month high on increasing concerns over the drier-than-normal weather in Argentina. Wheat also posted a good gains.
The most active Corn contract for Mar delivery climbed 13c, or 2.1%, to 6.29 per bushel. Mar Wheat futures added 9.5c, or 1.2%, at 7.9425 a bushel. Mar Soybean rose 27c, or 2%, to 14.03 per bushel.

The Strong global demand for both Corn and Soybean coupled with concerns over stressful weather condition in Argentina continued to offer strong support to grain market Friday.

A trader mentioned that the consecutive weakness in the “Greenback” enticed increased buying support from fund traders in many commodity markets.

Meanwhile, some traders believed that the US Ethanol production, which is running at record levels, will add to increasing pressure on the already very tight US Corn stocks, pushing up the Corn prices.

Arrow Resources OTC:ARWD is set to become a major food and timber co in Indonesia, and developing a strong market Asia Wide.

Arrow Resources OTC:ARWD seen a volume spikein the last 2 days that could lead to the stock trading much higher soon.

A Strong Buy has been issued on Arrow Resources OTC:ARWD

At Phase 1 of production the company values at over $3 per share.

Over $100m has already been invested in Indonesia.

Production of Corn, Palm Oil, Timber, Ethanol

Trading in fuels, agricultural produce

3.5 million hectares (ha) of land on the islands of Kalimantan and Sulawesi

U.S. Registered & Reporting: SEC Filer

Jakarta Composite Index (JCI) has grown 45% this year. Estimates are that US$60 trillion was seeking to be invested at present, $48 trillion of which is owned by European and US’ investors.
Palm oil has rallied 36% this year, rising demand in China may strain global supplies curbed by rain and drought in producing nations.

Corn prices are rising sharply with the weekly ethanol report showing a 6.1 percent rise in production from the previous week — up 19.2 percent from a year ago.

With its strategic partners, Arrow has begun the development of plantation/farming operations and ethanol production facilities in Indonesia on 3.5 million hectares (ha) of land on the islands of Kalimantan and Sulawesi.

Arrow is working closely with its group of Indonesian partners to initiate operations in Konawe, South East Sulawesi.

The necessary approval has been granted by the local government (Bupati Konawe Selatan (Regent Government Officer in Charge of a Regency), H. Imran) to commence operation at two sites totaling 162,000 ha.
The mapping, surveying and planning for these first sites have been completed and all necessary information has been filed with the local and national government offices.

The profit generated (70%) from all operations are to be invested in three trust funds for the retirement of the local farmers, the education of the local Farmer’s children and the expansion of the operations of GMPLH.
The Company will select internationally recognized trust managers to oversee the distribution of proceeds.
Each project includes funding for the construction of local schools, field hospitals, farmer housing and the technical education of the farmers.
Environmental and Wildlife Concerns
Arrow understands that any large-scale natural resource development operation faces environmental and wildlife conservation concerns. In the interest of good corporate citizenship, a plan has been developed to ensure that all operations are sensitive to cultivating these resources in a renewable and responsible matter.

The group’s team of scientists, bioengineers and environmentalists have developed the plantation, farming and plant operation plans consistently focusing on environmental and wildlife concerns. Each program includes a comprehensive plan for the relocation of wildlife to a preserve, sensitivity towards the preservation of bio-diversity, investigation of medical benefits from native flora, and the replanting several noble species of trees.

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Posted by Shayne Heffernan on Jan 1st, 2011and filed underEquities, Latest News, Markets, News & Events, USA.You can follow any responses to this entry through theRSS 2.0You can leave a response by filling following comment form or trackback to this entry from your site