Friday, July 30, 2010

20100730 1404 Soy Oil & Palm Oil Related News.

Soyoil futures climbed in unison with advances in the rest of the soy complex, with spillover strength from crude oil futures and fresh export sales to China lending support. December soyoil settled 0.43 cents or 1.1% higher at 40.00 cents per pound. (Source:CME)

Global weather concerns lift palm oil
KUALA LUMPUR, July 29 (Reuters) - Malaysian crude palm oil rose 1.1 percent  concerns that dry weather in Europe will curb global vegetable oil supplies in the medium-term.
"There was no follow through in the technical correction earlier this week for palm oil. Traders are watching the weather developments in Europe and the U.S.," said a trader with a foreign broker in Malaysia. "Crude oil is giving support."

Indonesian Sinar Mas-linked firms wrecked forest-report
JAKARTA, July 29 (Reuters) - Greenpeace said on Thursday it had fresh evidence that palm oil firms linked to Indonesian agribusiness giant Sinar Mas have bulldozed rainforest and destroyed endangered orangutan habitats in Kalimantan.
The charges were denied by palm oil firm PT SMART Tbk , part of Sinar Mas, which has already said it would stop clearing critical forests.

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