Soy Oil chart reading : side way range bound.
ITS CPO export up 13.6% to 1,255,392 tonnes for the period of 1~30 Apr 2011.
SGS CPO export up 18.2% to 1,321,068 tonnes for the period of 1~30 Apr 2011.
Soybeans (Source: CME)
US soybean futures end modestly lower pressured by spillover weakness from sharp declines in corn and sluggish export demand, analysts say. The threat of wet conditions in the eastern Midwest and Delta possibly shifting some corn acreage to soybeans if the slow planting pace continues weighed on prices as well, particularly after futures failed to attract buyers on an initial push to three-week highs. CBOT July soybeans ended 1c lower at $13.93 a bushel.
Soybean Meal/Oil (Source: CME)
Soy product futures end mixed, after choppy session that saw both soymeal and soyoil futures trade in positive and negative territory. The products were caught in spiral of choppy soybean trade, with soyoil influenced by two-sided price action in crude oil futures as well, analysts said. CBOT July soymeal settled down $1.30 or 0.4% lower at $362.30 per short ton, and July soyoil ended up 0.02 cents or 0.03% at 58.60 cents per pound.
China May soy imports seen flat at 4.4 mln T on year-MOFCOM
BEIJING, April 29 (Reuters) - China, the world's top soy importer, is expected to import 4.4 million tonnes of the oilseed in May, almost flat from a year-ago, according to the latest forecast by China's commerce ministry.
For April, imports are expected to rise 24 percent from March to 4.34 million tonnes, but only 3 percent higher than the same period a year ago, according to Reuters' calculation based on the figures released by the ministry and Customs.
Argentina says early-planted soy nearly gathered
BUENOS AIRES, April 29 (Reuters) - Argentine farmers have nearly finished gathering early-seeded 2010/11 soy but yields are uneven due to extreme dryness earlier in the season, the Agriculture Ministry said on Friday in its weekly crop report.
The ministry estimates this season's crop at 50.4 million tonnes in the world's No. 3 supplier of soybeans and the top exporter of soyoil and soymeal.
SE Asian palm oil firms go on African land safari
SINGAPORE/KUALA LUMPUR, April 29 (Reuters) - Southeast Asian palm oil firms are turning to Africa as land runs out back home and world demand for cheap cooking oil soars, but the continent's harsh weather, high costs and land disputes could derail their plans.
Malaysia's Sime Darby and Singapore's Golden Agri Resources have joined a slew of global firms entering Africa by snapping up hundreds of thousands of hectares of land in Liberia, but it could still take years to turn the region into a net exporter and help ease high palm oil prices.
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