Soyoil futures settled higher, managing to hold on to modest gains after extending recent gains in early trade. The unwinding of meal/oil spreads and solid underlying demand buoyed prices, analysts said.(Source: CME)
Malaysia June CPO Output 1.42 Mln Tons; Up 2.5% On Month -MPOB(Source: CME)
Malaysia's June crude palm oil output rose 2.5% on month to 1.42 million metric tons, the Malaysian Palm Oil Board said Monday. CPO output totaled 1.39 million tons in May. MPOB said in its monthly report that CPO exports rose 5.5% to 1.44 million tons in June. The country exported 1.36 million tons in May. Palm oil inventories totaled 1.45 million tons at the end of June, down 7% from 1.56 million tons in May.
China lifts palm oil to one-week high; MPOB data eyed
KUALA LUMPUR, July 12 (Reuters) - Malaysian crude palm oil rose to a one-week high as investors were buoyed by strong trade performance by China and lower-than-expected stocks. Palm oil prices, which have dropped 12.7 percent so far this year, are set to gain after industry regulator Malaysian Palm Oil Board reported that palm oil stocks dropped to 10-month lows in June.
Canada aims to boost canola exports
WINNIPEG, Manitoba, July 9 (Reuters) - Canada's canola industry looks to boost export demand for seed, oil and meal to encourage higher crop production by 2015 and will focus on five key markets, the Canola Council of Canada said on Friday. The council is aiming to expand markets in order to reach its goal of raising Canadian production to 15 million tonnes by 2015.
China soybean imports to rise in 09/10, 10/11-USDA
WASHINGTON, July 9 (Reuters) - China is forecast to import 2 percent more soybeans in the current marketing year and in 2010/11 than earlier projected, the U.S. Agriculture Department said in a report on Friday. The USDA increased its forecast for Chinese soybean imports in 2009/10 to 48 million tonnes, up 1 million tonnes from last month's estimate.
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