ITS CPO export up 14.5% to 1,170,226 tonnes for the period of 1~20 Aug 2011.
SGS CPO export up 13.9% to 1,171,327 tonnes for the period of 1~20 Aug 2011.
Soybeans (Source: CME)
US soybean futures end higher, supported by the uncertainty of 2011 crop production. Traders and analysts are concerned about any yield and production cuts, with demand already forecast to eat away at smaller 2011 production. The market is mindful that yield potential has been hurt by hot and dry weather last month, but moderate temperatures the past few weeks had been expected to benefit the crops' yield potential, analysts say. Traders added risk premium amid crop uncertainties, a feature that helped offset the volatile movements of equity markets. CBOT November soy end up 7 1/2c at $13.68 1/2 a bushel.
Soybean Meal/Oil (Source: CME)
Soy product futures end higher, finishing with modest gains for the week. Product markets climbed in unison with soybeans, garnering strength from concerns any decline in soy crop potential will lead to tighter availability of supply for crushing, analysts say. CBOT Dec soyoil end up 0.12c at 55.95c/lb; Dec soymeal finished up $1.50 at $360.90/short ton.
Palm oil falls on global economic worries
JAKARTA, Aug 19 (Reuters) - Malaysian palm oil futures eased, as ongoing uncertainty and worries clouding the global economic outlook offset expectations of improving demand for the vegetable oil.
"The market is down a bit on the back of equities and euro zone problems," said a Kuala Lumpur-based trader. "Our local sentiment is quite strong -- there is strong demand.
Germany spoils outlook for EU rapeseed crop
HAMBURG, Aug 18 (Reuters) - Looming rapeseed crop failure in top European Union producer Germany is likely to tighten EU supplies despite more promising harvest outlooks in France and Britain, traders and analysts said on Thursday.
"The German crop outlook is going from bad to worse, and the failure is likely to be so large that EU production of rapeseed oil will be restricted, generating more imports," one rapeseed trader said.
Weather, USDA point to bigger US soy crop
CHICAGO, Aug 18 (Reuters) - A break in hot and dry weather in the U.S. Midwest grain belt, coupled with the historic trend in crop forecasts by the U.S. Department of Agriculture, could spawn a bigger soybean crop than estimated by the USDA this month.
Prices of Chicago Board of Trade soybean futures have risen more than 4 percent since USDA's surprise reduction of U.S. soybean yield by 4.6 percent, or 2 bushels, from its July forecast in the Aug. 11 supply-demand report.
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