ITS : CPO export down 8.5% at 1,354,128 tonnes for the period of 1~31 Oct 2010.
SGS : CPO export down 12% at 1,316,908 tonnes for the period of 1~31 Oct 2010.
Soy product futures ended mixed, with soyoil stumbling on end of month profit taking, large inventory forecasts and spillover weakness from crude oil futures. Soymeal held firm throughout the day, buoyed by strength in feed grains the unwinding of oil/meal spreads, analysts said. Dec soyoil settled 0.40c or 0.8% lower at 49.30 cents a pound. December soymeal ended $1.40 or 0.4% higher at $337.70 a short ton. (Source: CME)
Rain Boosts Delayed Planting In Brazil's Top Soy Region (Source : CME)
Widespread rain in Brazil's top soy-producing region is giving a boost to delayed planting of the new 2010-11 crop. Planting in late September and early October was delayed in many areas of Brazil's center-west soy belt that includes Mato Grosso, the country's top soy-producing state, due to insufficient rainfall in recent months caused by the La Nina weather phenomenon, which typically brings drier weather than usual. The delay in planting came as soybean prices on the Chicago Board of Trade were propelled this month to reach around 14-month highs on concerns about smaller U.S. and South American crops as traders factored in the possibility of weak harvests due to dry weather in top producers such as Brazil, the world's No. 2 soy producer. But private weather service Somar said that weather concerns have now vanished. "Although the center-west region didn't get much rain in early October, in the last few days frequent rains have helped to accelerate planting," Celso Oliveira, a meteorologist at Somar said.
Around 70 millimeters of rain will accumulate in the next five days in the center-west soy belt, which will ensure that planting can continue quickly in states such as Mato Grosso and Goias, he said. This volume should be adequate for planting as farmers typically need some 60 to 80 millimeters to provide adequate soil moisture for their beans to grow. Farmers in Mato Grosso are typically the first to begin planting in mid-September, which means they can harvest and sell their beans ahead of rival neighboring states. This year, however, farmers in Parana--the country's second-largest soy-producing state--have managed to plant earlier than farmers in Mato Grosso.
Golden Agri Response To Palm Oil Grievance Body 'Acceptable' (Source : CME)
A grievance panel of the Roundtable on Sustainable Palm Oil said that a response by plantation operator Golden Agri-Resources Ltd. and its units to environmental concerns is "acceptable." Golden Agri's efforts to comply with RSPO standards could help the company's efforts to win back major palm oil buyers, such as global food giants Nestle SA and Unilever NV and U.S.-based fast food chain Burger King Holdings Inc., that suspended sourcing of palm oil from a Golden Agri unit in response to claims that the company is involved in deforestation. Golden Agri-Resources and its units, Indonesia-based PT Sinar Mas Agro Resources & Technology and PT Ivo Mas Tunggal, have submitted detailed plans for compliance with the sustainability body, and the grievance panel will monitor progress on agreed action plans on a quarterly basis, the RSPO and Golden Agri said Friday in a joint statement.
"The panel has evaluated the companies' responses, and considers them acceptable at this stage of the grievance procedure," according to the statement. "An initial progress report (is) scheduled to be received on Jan. 15, 2011." Golden Agri, which currently isn't a member of the RSPO, has been asked to submit a full application for membership by Nov. 8, it said. Golden Agri's two units are already members of the RSPO, a consortium of palm producers, environmental groups and food companies. Unilever suspended purchases of palm oil from PT Smart in December following claims of deforestation by Greenpeace. The food giant's palm oil requirements accounted for 3% of Smart's total annual palm oil sales of around US$1 billion. Nestle followed suit in March while Burger King was the latest company to cut purchases in September. Executives at Unilever, Nestle and Burger King couldn't immediately be contacted for a comment.
Palm oil eases from 2-yr top; losses limited on supply
KUALA LUMPUR, Oct 29 (Reuters) - Malaysian palm oil futures eased from two-year highs although losses were limited late in the session after an official said the government will push a new replanting scheme next year.
"The replanting scheme is good for next year's outlook but its a long term strategy," said a trader with a foreign commodities broker.
Bulgaria harvests 1.4 mln T of sunseeds in 2010
SOFIA, Oct 29 (Reuters) - Bulgarian farmers have harvested 1.4 million tonnes of sunflower seeds from 95 percent of the sown acreage this autumn, up from a final 1.3 million tonnes a year ago, the agriculture ministry said on Friday.
Favourable weather has also boosted the maize harvest, with farmers reaping 1.5 million tonnes from about 80 percent of the sown area, up from 1.3 million tonnes in 2009.
India contracts to export 1 mln T new season soymeal
NEW DELHI, Oct 29 (Reuters) - India has contracted to export 1 million tonnes of soymeal in the first quarter of the marketing year staring October, 18 percent more than a year ago, traders said on Friday.
India, Asia's top supplier of the animal feed, had sealed deals to export 1 million tonnes of soymeal to countries such as Japan, Vietnam and Indonesia at $380-$420 per tonne free on board, they said.
Malaysia replants more palm to boost yields
KUALA LUMPUR, Oct 29 (Reuters) - The Malaysian government's new replanting scheme will target 365,000 hectares of oil palms older than 25 years as the world's No.2 palm oil producer tries to lift flagging output, a top industry official said on Friday.
Industry regulator the Malaysian Palm Oil Board's (MPOB) new chairman, Shahrir Samad, said the scheme would take two to three years to complete and the government had pledged 297 million Malaysian ringgit ($95.56 million) under the 2011 budget.
Argentine soy sowing speeds ahead - exchange
BUENOS AIRES, Oct 28 (Reuters) - Moist soils helped Argentine farmers advance rapidly with soy planting over the last week, and they are far outpacing last season's progress, Buenos Aires Grains Exchange said on Thursday.
Argentina is the world's third-largest exporter and farmers are planting 2010/11 soybeans at a time of strong demand from China, the top importer of the oilseed.
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