Thursday, September 29, 2011

20110929 1004 Soy Oil 7 Palm Oil Related News.

Soybeans (Source: CME)
US soybean futures tumble to a 10-month low, fueled by investment-fund selling in the face of global economic fears and seasonal harvest weakness. Traders are cautious of risk amid slowing economic growth, with worries of slumping demand sparking another round of broad-based commodity selling, analysts say. Investment funds were estimated net sellers of 12,000 soybeans contracts today, a large amount. Harvest pressure added to the lower theme, with traders also concerned that the market is failing to generate export business despite a more than $2/bushel slide the past month. CBOT November soy ends down 3.1% at $12.23 1/2.

Soybean Meal/Oil (Source: CME)
Soy-product futures fall in unison with soybeans, driven lower by broad-based commodity selling. Global economic uncertainty is making traders nervous about holding riskier assets on fear of slower demand, analysts say. CBOT December soymeal finishes down 3.2% at $319.90/short ton while soyoil slides 1.9% to 51.76c/pound.

U.S. soybean exports primed for a boost: Gavin Maguire
--Gavin Maguire is a Reuters market analyst. The views expressed are his own. To get his real-time views on the market, please join the Global Ags Forum. --
CHICAGO, Sep 28 (Reuters) - The sharp decline across commodity markets has reset global soybean prices and should help make U.S. soy exports more competitive in coming months.
For much of 2011, U.S. soybeans tended to trade at a premium to crops in other regions, keeping U.S. soy exports in check. But with U.S values much more closely aligned with those of South America, U.S. exporters should see a notable pick-up in export activity over the remainder of 2011.

Palm oil slips 2 percent on euro zone concerns
JAKARTA, Sept 28 (Reuters) - Malaysian palm oil futures fell by as much as 2 percent, weighed down by losses in other edible oils and investor worries about the ability of European leaders to tackle a debt crisis threatening the global financial system.
"The euro zone problems are still uncertain -- there doesn't seem to be a consensus," said a Kuala Lumpur-based trader.

Rapeseed area dips in Germany, rises in France, UK
LONDON, Sept 27 (Reuters) - Rains look to have reduced the area drilled with rapeseed in Germany but high prices have boosted sowings in both France and Britain, where crops have made good early progress, crop analysts said on Tuesday.
Farmers in Germany were still harvesting wheat earlier this month following repeated rain delays when they would like to have been drilling rapeseed. The wheat harvest is normally completed in August.

Dryness threatens Brazil's soybean crop -Oil World
HAMBURG, Sept 27 (Reuters) - Dryness is threatening the soybean crop in Brazil, the world's second largest producer of the oilseed, as sowings in the country face delays, Hamburg-based analysts Oil World said on Tuesday.
"Crop prospects for early 2012 are in jeopardy," Oil World said. "The threat of declining yields has increased."

Indonesia will delay the implementation of a regulation on industrial forests that would have  allowed planters, especially those growing palm oil, to cultivate areas reserved for timber  and other domestic raw materials.  The delay is aimed at making improvements to the  proposed rule to make it consistent with previous decrees, and the government will issue  the revised regulation as soon as possible, forestry minister Zulkifli Hasan said. (BT)    

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