Thursday, December 9, 2010

20101209 1912 FCPO EOD Daily Chart Study.

FCPO closed : 3598, changed : +4 points, volume : lower.
Bollinger band reading : upside biased with potential correction.
MACD Histrogram : turn downward, buyer taking profit.
Support : 3550, 3500, 3470 level.
Resistant : 3620, 3650, 3700 level.
Comment :
Hit 29 month high FCPO closed recorded minor gain with lower volume changed hand ahead of tomorrow export data and MPOB Nov 2010 official report.
Depsite recorded gain, daily chart formed a down bar candle near upper Bollinger band level after market opened gap up near the high of the day followed by profit taking activities pressed price to closed near the low with the reading remained suggesting a correction range bound upside biased market development.
When to buy : buy at support and weakness with quick cut loss and profit target.
When to sell : sell at resistant or strength with quick cut loss and profit target.

20101209 1902 FKLI EOD Daily Chart Study.

FKLI closed : 1521, changed : +10.5 points, volume : lower.
Bollinger band reading : range bound upside biased.
MACD Histrogram : buyer taking exposure cautiously.
Support : 1500, 1485, 1470 level.
Resistant : 1530, 1550, 1580 level.
Comment :
FKLI continue to trade firmer recorded gain with lower volume transacted as major regional market traded mildly positive except ShangHai exhcanged due another rate hike anticipation by China central bank. Daily chart formed an up doji bar candle with longer lower shadow(not a hanging man) positioned above upper Bollinger band resistant level with the band width just started to turned outward suggesting a range bound upside biased market development testing higher resistant level should the band width continue to expand further, else a pullback correction could take place soon.
When to buy : buy at support or weakness with quick cut loss and profit target.
When to sell : sell at resistant or strength with quick cut loss and profit target.

20101209 1119 Breaking News.

Japan's economy grew a revised 1.1 percent in July-September from the previous quarter, exceeding an initial government estimate, but that offered little comfort to policymakers wary of slowing growth in the current quarter. Despite the upward revision, a recent slew of weak data has underscored the view that the economy will contract slightly in October-December due to a global slowdown and a pull-back from the last-minute surge in stimulus-driven consumption that spurred third-quarter growth.Bookmark

KUALA LUMPUR (Dow Jones)--Malaysia''s federal cabinet has agreed to an increase in electricity tariffs, but hasn''t yet decided on when they will be revised, The Star reported, citing Energy, Green Technology and Water Minister Peter Chin Fah Kui. There are many issues that the government needs to address before a time can be set for the increase, the minister said, according to the report.

20101209 1040 Local & Global Economics News.

Malaysia: Ringgit drops on concern China’s policy may hurt exports
Malaysia’s ringgit fell from a one-week high on concerns exports will cool as monetary tightening in China damps demand in the South-East Asian nation’s biggest export market. The People’s Bank of China raised lenders’ reserve requirements twice last month and announced in October the first interest-rate increase since 2007, seeking to tame the fastest inflation in two years. China including Hong Kong accounted for 18% of Malaysia’s exports in the first 10 months of this year, official figures showed. Bonds fell as currency weakness reduced their allure to foreign buyers. (Star Biz)

Singapore: GDP may slow to 5.1% next year
Singapore’s economy will probably expand next year at a third of this year’s pace as manufacturing and export growth slows, a central bank survey showed. GDP may increase 5.1% next year after a 15% expansion in 2010, according to the median estimate in a survey of 22 economists by the Monetary Authority of Singapore. The Singapore dollar may strengthen to SGD1.24 versus the US currency by the end of 2011, the survey showed. (Star Biz)

Japan:Machinery orders decline for second month
Japanese machinery orders fell for a second month in October because of declining demand from the service sector, adding to signs that the nation’s export-led recovery is stalling. Factory orders fell 1.4% from September, when they dropped 10.3%, the biggest slide since March 2008, the Cabinet Office said. Orders, an indicator of capital spending in three to six months, were projected to fall 0.1%, according to the median forecast of 28 economists surveyed by Bloomberg News. (Financial Daily)

EU: Euro falls as Ireland budget vote doesn’t ease region concern
The euro fell from near a two-week high against the dollar as Ireland’s parliament neared a vote on austerity measures that are required for the nation to qualify for a EUR85bn aid package. Ireland’s Finance Minister Brian Lenihan said the government has an “absolute majority” to pass the budget as European leaders continue to discuss how to contain the region’s debt crisis from spreading to other nations. The dollar weakened earlier after President Barack Obama broke a stalemate about extending middle-class tax cuts introduced by the administration of George W. Bush. (Bloomberg)

EU: German exports declined in October as euro-area demand eased
German exports unexpectedly dropped in October as Europe’s sovereign debt crisis and a cooling global economy curbed demand. Sales abroad, adjusted for working days and seasonal changes, fell 1.1% from September, when they rose 3%, the Federal Statistics Office said. Economists had forecast stagnation in October, according to the median of 14 estimates in a Bloomberg News survey. Imports rose 0.3%. Austerity measures across the euro region are eroding demand for German goods in the country’s biggest export market. Factory orders from within the single-currency area dropped for a second month in October, the Economy Ministry said. (Bloomberg)

EU: French business confidence rose in November on jobs
French business confidence rose in November as job creation and household sentiment suggested that domestic demand will hold up in coming months. The Bank of France’s Business Sentiment Indicator for manufacturers increased to 107 from a revised 104 in October, the central bank said in a statement. Economists expected a reading of 103, according to a Bloomberg survey. The central bank had originally reported an October reading of 103. The increase underlines a shift from export-led growth that helped France pull out of recession last year to reviving consumer demand. France posted its biggest drop in jobless claims in more than two years in October and consumer sentiment improved for a fourth month in November, signaling strength in spending. (Bloomberg)

20101209 1039 Malaysia Corporate News.

Syed Mokhtar mulls DRB-HICOM buyout
Tan Sri Syed Mokhtar Al Bukhary is believed to be considering taking auto and banking group DRB-HICOM private, people familiar with the plan said yesterday. It is further believed that the tycoon is being advised by Maybank Investment Bank on the plan, which could cost him close to RM2bn. Sources said the offer will be comparable to DRB-HICOM's NTA value, which stood at RM2.50 as at end of September this year. As at July this year, Syed Mokhtar held a controlling 55.9% of DRB-HICOM, via privately held Etika Strategi SB. (BT)

Dayang sells 40% of Borcos to AWH Equity
Dayang Enterprise plans to dispose of its 40% stake in Borcos Shipping SB for RM135 million in cash to AWH Equity. It said the exercise is consistent with Dayang’s strategy to continuously review its business and operations to ensure greater return to its shareholders. The company previously acquired Borcos to expand its operations into the chartering of offshore support vessels. (BT)

Cabinet agrees to electricity tariff hike
The federal Cabinet has agreed in principle to a revision of electricity tariff but has not decided when it should take place. Energy, Green Technology and Water Minister Datuk Seri Peter Chin Fah Kui said an electricity tariff revision was on the cards but the Government had not decided when. He said there were many issues that the Government needed to address before a time could be set for the revision. (StarBiz)

Alam Maritim mulls Vastalux options
Alam Maritim Resources has seen its share price plummet on potential debt write-offs owed by Vastalux SB, a debt-ridden subsidiary of another O&G firm, Vastalux Energy. It is mulling a provision for the total debt owed by Vastalux this fiscal year and may even consider liquidating Vastalux given the remote chance of the former recovering its debt. (Financial Daily)

Hartalega: No order to close factory
Hartalega Holdings has clarified that its factory in Ijok, Kuala Selangor, has never been ordered to close, suspended, nor issued serious warnings of any kind. In a statement issued yesterday, its executive director Kuan Mun Leong categorically denied the allegations reported to have been made by Deputy Minister at the Prime Minister's Department Datuk T. Murugiah and some residents of Taman Suria. (BT)

KFC Malaysia unit in India spreads wings
KFC India, a subsidiary of Kuala Lumpur-based KFC Malaysia, has been operating in India since a year, and has already opened six stores in the state of Maharashtra - four in Mumbai, one in Pune and one in Aurangabad. It has plans to increase its number of stores to 17 next year, says Hezal Ahmad, CEO of KFC India. (BT)

Proton’s Lotus buys stake in Renault F1 team
Proton’s subsidiary Group Lotus plc will buy a major equity stake in the Renault F1 team, which will be renamed Lotus-Renault GP team, from the start of the 2011 Formula 1 season onwards. Group Lotus will buy a 25% stake from Luxembourg-based investment group Genii Capital. The price tag was not mentioned. (The Malaysian Reserve)

20101209 0930 Renewables Energy Related News.

Dec 6 (Reuters) - Canada's biggest publicly owned electricity producer TransAlta Corp said it commissioned 123 megawatts (MW) from two new wind facilities in Alberta and New Brunswick, ahead of schedule and on budget.
The $135 million Ardenville Wind Facility in Alberta has an installed capacity of 69 MW and is expected to generate enough power for about 11,500 average homes.

BERLIN, Dec 6 (Reuters) - Germany will add a record of some 8 gigawatt (GW) of photovoltaic capacity this year, widening its lead as the world's top solar power market, the head of Germany's BSW solar industry association said on Monday.
Carsten Koernig told Reuters the surge in demand for photovoltaic systems would take Germany's total solar power capacity to between 17 and 18 GW -- five times greater than the next largest producer Spain with a total of 3.5 GW.

VANCOUVER, Dec 6 (Reuters) - NextEra Energy Resources has agreed to buy four small solar photovoltaic projects located in the Canadian province of Ontario from First Solar Inc , the two U.S. companies said on Monday.
No price was given for the purchase, which totals 40 megawatts of energy, or enough to power about 6,440 homes.

JOHANNESBURG, Dec 6 (Reuters) - South Africa will start a much-delayed plan to buy electricity from green energy plants next year under a new subsidies programme to help boost private investment in renewable power, a senior official said on Monday.
Africa's biggest economy is struggling to meet fast rising demand for power, and state-owned utility Eskom said supply would remain tight until 2015, and especially over the next two years, until its two new power plants come on stream.

VANCOUVER, Dec 6 (Reuters) - Canada's small but fast-growing solar industry aims to expand at 35 percent a year over the next 15 years, creating 35,000 jobs and displacing millions of tons of greenhouse gasses.
The Canadian Solar Industries Association said it expects to be able to achieve "grid parity", the point where generation costs become competitive with other power sources, in the next decade as industry costs drop.

MILAN, Dec 6 (Reuters) - Italy's biggest renewable energy company, Enel Green Power (EGP) , has started a 34 megawatt wind farm in Romania, aiming to expand the country's rapidly growing green energy market, it said on Monday.
The Agighiol plant, EGP's first wind farm in Romania, will produce about 100 million kilowatt hours of power a year, enough to meet demand of more than 35,000 households and cut carbon dioxide (CO2) emissions by 70,000 tonnes a year.

LONDON, Dec 6 (Reuters) - Gazprom's trading arm and logistics company Trans Wonderland Limited (TWL) have agreed to collaborate on clean energy projects in Papa New Guinea, the companies said on Monday.
Gazprom Marketing & Trading (GM&T) said it will act as a project developer and carbon offset buyer for TWL's plan to use more liquefied natural gas (LNG) than diesel in its transport and logistics operations in Papa New Guinea.

BRUSSELS, Dec 3 (Reuters) - The European Union's economic crisis took precedence over solidarity at a meeting of energy ministers on Friday, with big economies reluctant to fund a 1 trillion euro ($1.3 trillion) vision for energy infrastructure.
Ministers were meeting for their first discussion of plans by EU energy commissioner Guenther Oettinger for massive investment to bolster energy security and distribute green electricity.

TIRANA, Dec 3 (Reuters) - Albania's state-owned KESH power utility expects a record hydro output of 7,300 GWh for 2010 due to heavy rains, the highest annual production in 25 years, its manager said on Friday.
Heavy rain last winter and again this autumn have filled reservoirs to the brim, reversing years of drought this decade that led to power shortages and forced KESH to borrow to buy electricity, KESH's Engjell Zeqo told Reuters.

LONDON, Dec 3 (Reuters) - Ten European countries have signed up to develop an interconnected North Sea wind power grid in order to maximise its renewable energy potential, the countries' energy regulators and transmission operators said on Friday.
Sweden, Denmark, Germany, the Netherlands, Luxembourg, France, the UK, Ireland, Norway and Belgium, have agreed to coordinate investment and technical solutions get the most out of power generation from the abundant North Sea winds.

MADRID, Nov 3 (Reuters) - Spain's government has approved cuts to windpower subsidies totalling 35 percent between now and 2012, it said in a statement on Friday.
The cuts to renewable energy subsidies will save 1.1 billion euros ($1.45 billion) up to 2013, it added.

20101209 0929 Biofuels Related News.

WASHINGTON, Dec 7 (Reuters) - Tax credits for ethanol and other biofuels were among issues under debate for a sweeping tax bill, Democratic senators said on Tuesday, with ethanol subsidies due to expire in three weeks.
"There are provisions not yet included which I think are important," said Max Baucus, chairman of the Senate's tax-writing committee. Asked about a possible 36-cent a gallon tax credit for ethanol, Baucus said, "I don't know yet."

HAMBURG, Dec 7 (Reuters) - Argentina is likely to produce about 2.5 million tonnes of biodiesel in 2011, up from an estimated 1.8 million tonnes in 2011, Hamburg-based oilseeds analysts Oil World forecast on Tuesday.
But 2011 biodiesel exports are likely to fall to 1.40 million tonnes from an expected 1.42 million tonnes in 2010 as the country consumes more of its own biofuel, Oil World said.

WASHINGTON, Dec 3 (Reuters) - The major U.S. ethanol incentive would be cut by 20 percent but given one more year of life in a Senate tax bill that also would revive a biodiesel tax credit that died a year ago.
The bill was "very unlikely to pass" but would be a starting point for negotiations this month on many issues including estate tax and income tax rates, said consultants Washington Research Group on Friday.

KANSAS CITY/WASHINGTON, Dec 3 (Reuters) - Mark Marquis had planned to double the size of his Illinois ethanol plant in 2011, and was considering expanding a Wisconsin facility his family-run firm bought into last July.
But those plans are now on hold, as Marquis and other ethanol producers brace for the possible end of $6 billion a year in U.S. subsidies for the alternative energy source.

CHICAGO, Dec 3 (Reuters) - U.S. corn futures will remain unchanged or could drop by as much as 4.5 percent if Congress does not renew ethanol subsidies that expire on Dec. 31, a Reuters poll of 10 grain analysts showed on Friday.
Six of the analysts said futures at the Chicago Board of Trade will fall 10 to 25 cents per bushel, while the four others said the market would just shrug it off. CBOT March corn futures closed at $5.73-1/2 a bushel on Friday.

PARIS, Dec 3 (Reuters) - France will miss a national target again this year for blending ethanol into gasoline because of slower-than-expected uptake at petrol stations, a French sugar beet growers group said on Friday.
Overall incorporation of ethanol in energy-value terms should reach 6 percent at the end of 2010, short of a 7 percent objective set by the government, the CGB said at a news conference.

WINNIPEG, Manitoba, Dec 2 (Reuters) - Canada's No. 2 crop, canola, looks to miss out on potential domestic demand from biodiesel until Canada clarifies its fuel mandate and offers new incentives to an already heavily subsidized industry.
Canada has finished selecting biodiesel plant proposals to receive funding from a C$1.5-billion ($1.5 billion) program, aiming to cut greenhouse gas emissions by 17 percent by 2020 from 2005 levels through mandates of 5 percent ethanol and 2 percent biodiesel in conventional fuel pools.

SAO PAULO, Dec 2 (Reuters) - Commodities trader Glencore has bought a stake in Brazilian ethanol plant Rio Vermelho, its first ever investment in the cane sector, a Brazilian newspaper reported on Thursday.
The Swiss-based Glencore paid more than $80 million for a stake of around 70 percent in the mill, O Estado de Sao Paulo newspaper said without revealing the source of the information.

vegetable-oil based biofuels to come from eco-friendly sources may boost palm oil use in the sector as green supplies of the tropical oil grow, a key Finnish oil refiner said on Thursday.
A Neste Oil official said green groups scrutiny of the Asian palm oil sector has spurred efforts to clean up estates and supply chains, placing it in a better position than other competing oils to meet EU sustainability criteria.

20101209 0927 Global Market News.

Oil rebounds to $89 with rising equities, falling dollar

SINGAPORE, Dec 9 (Reuters) - Oil rebounded towards $89 as the dollar weakened and some optimism returned to stock markets in Asia on hopes that the extension of U.S. tax cuts would boost consumption.
"When you have rising stock markets, you have the wealth effect; consumers feel richer so their pocket books open up. That's also positive for oil demand," said Tony Nunan, a risk manager with Tokyo-based Mitsubishi Corp.

Corn, soy edge lower; wheat up ahead of USDA report
SINGAPORE, Dec 9 (Reuters) - U.S. corn and soybean futures retreated as investors locked in recent gains ahead of a key U.S. crop report expected to reflect shrinking global supplies and a spike in demand for U.S. grains.
"Up until a month or two ago, stocks of Australian and U.S. wheat were giving the world comfort as far as maintaining healthy global supply. Now the risk in those two areas is a concern," said Brett Cooper, senior manager for markets at FCStone Australia.

U.S. yields slip as selloff pauses, dollar down
HONG KONG, Dec 9 (Reuters) - U.S. Treasury prices edged up as bargain hunters entered the fray after a violent two-day surge in yields, pulling the dollar lower, while Asian stocks rose on hopes added fiscal stimulus will help the U.S. economy in the near term.
"The stimulus measures agreed by the U.S. administration will likely lead to many analysts penciling in higher growth forecasts over 2011 whilst reducing the prospects of QE3 from taking place, all of which is dollar positive," Mitul Kotecha, global head of foreign exchange strategy with Credit Agricole CIB in Hong Kong, said in a note.
OIL: Crude tracks Asian stock markets higher
SINGAPORE, Dec 9 (Reuters) - Oil rebounded to top $89 on Thursday as some optimism returned to financial markets based on the positive effect of extended U.S. tax cuts on consumer demand, sending Asian equities higher.
U.S. crude inventories fell and refined product inventories rose last week as refineries produced more fuel, according to a weekly report from the Energy Information Administration on Wednesday.

COMMODITY MARKETS: Gold, oil slide, others rise on US tax-cut deal
NEW YORK, Dec 8 (Reuters) - A number of commodities, including gold and oil, extended losses on Wednesday as a deal to extend U.S. tax cuts lifted the dollar, while many others, like copper and natural gas, gained on a bolstered outlook for economic growth.
"These tax cuts are regarded as a game changer, which will provide significant support for the U.S. economy next year," said Richard Franulovich, a strategist at Westpac in New York.

GLOBAL MARKETS: U.S. bond yields fly on deficit fear, dollar up
NEW YORK, Dec 8 (Reuters) - U.S. Treasury bond prices sank for the second day on Wednesday, driving yields to a six-month high after an agreement to extend tax cuts fed fears of inflation and a ballooning deficit, while the dollar rose on perceptions the tax cuts could increase economic growth.
"This tax agreement is a disaster for the U.S. fiscal situation," said Howard Simons, strategist at Bianco Research in Chicago.

Japan machinery order fall signals tough times
TOKYO, Dec 8 (Reuters) - Japanese core machinery orders fell at a slightly faster pace than expected in October, in a sign that companies are holding back spending due to the yen's stubborn strength and slowing demand at home and abroad. The data provides further evidence that the economy's recovery since last year is screeching to a halt as exports slow and stimulus-driven domestic consumption wanes, with economists predicting a modest contraction in GDP in the current quarter.

PRECIOUS-Gold eases below $1,400/oz as dollar firms
LONDON, Dec 8 (Reuters) - Gold prices eased below $1,400 an ounce in Europe on Wednesday as the dollar rallied after a spike in U.S. bond yields, prompting more investors to cash in gains after the previous day's record peak. The precious metal rose to an all-time high at $1,430.95 an ounce on Tuesday as risk aversion flared in the euro zone, but quickly slipped as the rally lost traction.

FOREX-Dollar rises as U.S. bond yields spike
LONDON, Dec 8 (Reuters) - The dollar rose on Wednesday and looked to sustain gains in the near-term on a spike in U.S. Treasury yields as a proposed extension of tax cuts raised growth expectations for the U.S. economy. Traders took their cue from a rise in the 10-year U.S. Treasury yield to 3.25 percent , a level not seen since late June and beyond Tuesday's high of 3.18 percent.

US wheat futures ease as dollar firms
SYDNEY, Dec 8 (Reuters)- - U.S. wheat futures eased on Wednesday, retreating from a four-month top as profit-taking set in after gains driven by adverse crop weather in the United States and Australia. A firmer dollar acted as brake on commodity prices despite concerns about global wheat supplies. The stronger greenback makes U.S. dollar-priced commodities more expensive for buyers in other currencies."Whilst those crop production fears have not dissipated, the market was due for a correction," said Luke Mathews, an agricultural commodities strategist at the Commonwealth Bank of Australia.

Cocoa eases, Ivory Coast keeps investors cautious
ICE cocoa futures eased from Tuesday's four-month high in a nervous market as investors continued to eye Ivory Coast tensions following the disputed the presidential election. The West African regional bloc ECOWAS recognised Alassane Ouattara as Ivory Coast's president-elect on Tuesday after a disputed ballot and urged incumbent Laurent Gbagbo to accept defeat.

U.S. tax deal boosts stocks; hammers bonds
LONDON, Dec 8 (Reuters) - Stocks rose and U.S. government bonds saw their worst sell-off in 18 months on Wednesday as a deal on U.S. taxes highlighted Washington's expansionary fiscal stance and its likely impact on growth and future deficits. "It's becoming increasingly clear the U.S. is taking a very different approach to the Europeans in dealing with their debt overhang ... they're reflating their way out of it and the Europeans are going the opposite way," said Grant Turley, strategist at ANZ.

Floods in Australia cut wheat crop, hit coal miners
SYDNEY, Dec 8 (Reuters) - Torrential rains whipping across eastern Australia have devastated wheat crops and flooded coal mines, while oil and gas producers and iron ore miners in the west face a high risk of being battered by cyclones over the next two weeks. Up to 60 percent of Australia's forecast 26.8 million-tonne wheat crop could be reduced to feed quality, cutting farm incomes and tightening global supplies of premium wheat used for bread and noodles. In a normal year, only between 5 percent and 10 percent of Australian wheat is sold as feedstock.

USDA to cut U.S. wheat stocks amid Australian rain
CHICAGO, Dec 7 (Reuters) - Adverse conditions for wheat crops around the world, including heavy rains in Australia, will boost demand for U.S. supplies on the world market and cut into domestic stockpiles. The crop-wasting rains in Australia, which are expected to reduce the amount of wheat deemed acceptable for export, follow a devastating drought in Russia and rain damage to the crops in Canada and Germany.

US corn supply seen shrinking to 15-year low
CHICAGO, Dec 7 (Reuters) - The supply of corn in the United States at the end of current marketing year on Aug, 31 is expected to fall to a 15-year low on demand for exports and from ethanol makers, even though prices have been flirting with two-year highs, a Reuters Poll of analysts showed. Harsh weather this summer trimmed U.S. corn production at a time brisk export, feed and ethanol usage threatens to trim corn ending stocks next year to 806 million bushels, according to an average of analysts' estimates.

20101209 0922 Soy Oil & Palm Oil Related News.

Soy product futures ended higher, following the lead of soybeans. Soyoil futures rebounded from early price weakness, recovering on solid global vegoil demand, analysts said. Soymeal followed the lead of the rest of the soy complex on supportive outlooks for tightening U.S. soy supplies. CBOT Jan soyoil ended 0.38c or 0.5% higher at 54.18 cents a pound, and Jan soymeal traded $2.80 or 0.6% higher at $347.10 a short ton. (Source: CME)

Argentine rains still too light to help farmers
BUENOS AIRES, Dec 7 (Reuters) - Scattered showers in Argentina have benefited some crops, but dry conditions caused by La Nina are expected to continue this month and 2010/11 soy and corn output could suffer, meteorologists said on Tuesday. Argentina is the world's No. 3 soybean supplier and the world's No. 2 corn exporter after the United States, but persistent dry weather has delayed plantings and harmed some crops.

Palm snaps 6-day winning streak on dollar, technicals
KUALA LUMPUR, Dec 8 (Reuters) - Malaysian crude palm oil fell on Wednesday for the first time in over a week on a firmer U.S. dollar and weaker technicals, and as traders took profits from the run of gains. "The U.S. dollar created some excuses to take profit as well as some weak technicals. Most palm oil players will sit tight until the Malaysian Palm Oil Board issues likely bullish data on Friday," said a dealer with a foreign trading firm.

China buying more soybeans for stocks -Oil World
HAMBURG, Dec 7 (Reuters) - Chinese soybean imports are rising sharply as the country appears to be building stocks as protection against the risk of a poor South American crop in early 2011, Hamburg-based oilseeds analysts Oil World said. China's October/December 2010 soybean imports may reach or exceed 14.2 million tonnes, up by about 4 million tonnes on the same year-ago period, Oil World estimated.

Argentine 2011 biodiesel output to jump -Oil World
HAMBURG, Dec 7 (Reuters) - Argentina is likely to produce about 2.5 million tonnes of biodiesel in 2011, up from an estimated 1.8 million tonnes in 2011, Hamburg-based oilseeds analysts Oil World forecast on Tuesday. But 2011 biodiesel exports are likely to fall to 1.40 million tonnes from an expected 1.42 million tonnes in 2010 as the country consumes more of its own biofuel, Oil World said.

Chinese demand seen paring US soy inventories
CHICAGO, Dec 7 (Reuters) - Persistent export demand for soybeans, led by China, should prompt the U.S. Department of Agriculture to lower its forecast of U.S. year-end soy inventories for a fourth straight month, analysts said. USDA's current estimate of soybean exports for the 2010/11 marketing year is 1.570 billion bushels, already a record high. Yet analysts expected USDA to raise the export figure by 20 million bushels or more, given the current pace of sales.