ITS CPO export down 24% to 568,127 tonnes for the period of 1~15 Dec 2010.
SGS CPO export down 29.5% to 548,372 tonnes for the period of 1~15 Dec 2010.
Soy product futures ended lower in unison with soybeans. Soyoil and soymeal slipped on profit taking of earlier gains, but soyoil lost product value to soymeal, as traders unwound soyoil positions after the market rallied 13% since Nov 17, analysts said. Soymeal futures were up 2% in the same time frame. CBOT Jan soyoil ended 0.36c, or 0.6%, lower at 55.09 cents per pound, and Jan soymeal traded $0.60, or 0.2%, lower at $342.20 a short ton. (Source: CME)
Media Rebuts China Assurance On Edible Oil Supply (Source: CME)
Insistence by China's National Development and Reform Commission that the country has sufficient edible oil stocks drew an unusual rebuttal from a newspaper, aimed at defending a recent report the paper carried on production stoppages of cooking oil. The statement by China Business News was a rare, direct challenge to the official line of the country's top economic policy planning agency, which is sensitive to rising food prices that have driven inflation to three-year highs. The newspaper, owned by the Shanghai Media Group, in a statement on its website Tuesday saying that its article was "independently sourced with documents" after the NDRC said Monday that the newspaper and other local media outlets had misreported on production halts at some edible oil plants. The NDRC said Monday that supplies of edible oils are "absolutely guaranteed." The statement, issued by its editorial department, added there were recordings to back up critical elements of its report. "The contents of our paper's report had data, documents and recordings as proof," it said. "As a responsible paper, we have issues with what the commission is saying." China Business News was one among five media outlets named in the commission's statement about edible oil production stoppages. The others were China Times, Sina, Sohu.com and Chongqing Evening News. In its statement Monday, the NDRC had focused on a recent China Times report that there were signs that edible oil producers would suspend large-scale production due to price-cap-related losses.
Palm eases after hitting 33-mth highs
KUALA LUMPUR, Dec 14 (Reuters) - Malaysian palm oil futures hit more than two-and-a-half-year highs on Tuesday amid firmer soyoil in China and worries over weaker production in the monsoon season, before paring some gains to settle 1 percent lower. "The market is down purely on profit-taking in the afternoon session after it rallied since early this month," said a trader in Kuala Lumpur.
Rains soak Brazil's southern soy belt - Somar
SAO PAULO, Dec 13 (Reuters) - A cold front dumped heavy rains on Brazil's southern soy producing states over the weekend, easing concerns of dry weather of late in No. 3 soy producer state Rio Grande do Sul, forecaster Somar said Monday. The La Nina weather anomaly tends to reduce rainfall over Brazil's grain belt. Spring showers were about two months late to arrive in the soy-rich center-west and Rio Grande do Sul suffered from dry weather in November.
China edible oil supply guaranteed ample - NDRC
BEIJING, Dec 13 (Reuters) - Domestic supplies of edible oils are guaranteed to be ample, said the country's top economic planner on Monday, refuting a media report of possible shortages during the Spring Festival.
"With a surge in soybean imports this year, state oilseed and oil stocks are ample, while enterprise stocks are plentiful and production levels are normal," said the National Development and Reform Commission in a statement published on its website.
World stocks rise, dollar falls before Fed
LONDON, Dec 14 (Reuters) - The dollar fell to a three-week low against the euro and Treasuries steadied ahead of a Federal Reserve policy meeting on Tuesday, while stocks held near a two-year peak, supported by optimism over Chinese growth. "Markets have been breaking out into a higher range and now consolidating," Bernard McAlinden, investment strategist at NCB Stockbrokers in Dublin, said. "Investors are awaiting for the Fed for clues about the economy."
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