20110829 1001 Soy Oil & Palm Oil Related News.

Soybeans (Source: CME)
US soy futures jump sharply on growing concerns about the crop, which continues to get less rain than it needs. Theme is "higher and drier," says US Commodities President Don Roose, who says lack of rain across a wide swath of the Midwest is stressing the crop and driving prices higher. Technical buying accelerated soybeans' climb, and strength in equities also supported prices. Sep soybeans climb 2.1% to $14.16 3/4 a bushel.

Soybean Meal/Oil (Source: CME)
Sep soyoil ends up 1.8% to 56.60c/lb, while Sep soymeal ends up 2.2% to $376 per short ton.

Palm oil futures hit 2-wk lows, key speech eyed
KUALA LUMPUR, Aug 26 (Reuters) - Malaysian palm oil futures hit over two-week lows, tracking a weaker overseas soy complex and crude oil amid grim global economic news as traders awaited a key speech by Federal Reserve Chairman Ben Bernanke.
"Investors tend to be cautious ahead of Ben Bernanke's speech, but the debt crisis in the U.S. will not end overnight," said a trader in Kuala Lumpur.

Minimal August rains to stress U.S. soybeans
CHICAGO, Aug 25 (Reuters) - Minimal rainfall for the rest of August in the U.S. Midwest will add stress to pod-setting soybeans and filling corn, an agricultural meteorologist said Thursday.
"Overall there won't be much rain for the next 10 days but no exceptional heat," said John Dee, meteorologist for Global Weather Monitoring.

Global slowdown may not hurt Malaysian commodity exports
PUTRAJAYA, Malaysia Aug 25 (Reuters) - Malaysian commodities such as palm oil, tin and rubber play such a central role in the global economy that their prices are likely to hold up even in a global slowdown, the Malaysian commodities minister said on Thursday.
Chinese imports of palm oil are set to rise next month as buyers stock up, Bernard Dompok said.