Fonterra Cooperative Group, the world’s biggest dairy exporter, has set the guaranteed price in its pilot scheme at $7 per kilogram of milk solids for those farmer-shareholders wanting to lock in payment certainty for the 2014 season. The guaranteed milk price matches its initial forecast for next season, and is part of a scheme letting farmers accept a price for …

The New Zealand dollar advanced against the yen in volatile trading on speculation the Bank of Japan may announce further stimulus measures today, prompting Japanese investors to seek higher returns in markets such as New Zealand. Since yesterday, the kiwi has traded between 76.15 yen and 78.40 yen. The local currency recently rose to 77.95 yen from 77.04 yen at …

Standard & Poor’s upgraded credit outlook on the US failed to lift Wall Street from the doldrums as investors try to gauge the Federal Reserve’s plans for its bond-buying program. The next two-day Federal Open Market Committee meeting, starting on June 18, cannot come soon enough for many investors looking for direction of the central bank’s plans for quantitative easing. …