Friday, December 9, 2011

20111209 1002 Soy Oil & Palm Oil Related News.

Soybeans (Source: CME)
US soybean futures end steady to mostly higher amid position squaring ahead of tomorrow's USDA report. The market traded both sides of unchanged during the session and lacked direction, as traders looked to position themselves ahead of the USDA report. Traders expect USDA will increase projected stockpiles due to poor export demand. Grains and soy shook off pressure from outside markets stemming from worries about Europe's debt. Jan CBOT soy ends flat at $11.31 a bushel, while other contracts are up slightly.

Soybean Meal/Oil (Source: CME)
March CBOT soybean oil ends down 0.03c to 50.88c/lb; March soymeal down $0.90 to $288 a short ton.

Palm oil almost flat ahead of key euro zone summit
KUALA LUMPUR, Dec 8 (Reuters) - Malaysian palm oil futures made little headway  amid investor doubts over European leaders coming to an agreement to tackle a debt crisis in a make-or-break summit this week.
"It's the do-or-die summit that is keeping palm oil markets subdued," said a trader with a foreign commodities brkerage.

Malaysia eyes Africa for palm oil markets growth
JOHANNESBURG, Dec 7 (Reuters) - Malaysia is looking for more palm oil business opportunities across Africa as it seeks to grow the sector through joint ventures with international companies, Commodities Minister Bernard Dompok said on Wednesday.
"We have companies (in South Africa) from Malaysia doing joint ventures and we are encouraging more ... I think there is a lot of scope for more corporation of this type in South Africa," Dompok said on the sidelines of a Palm Oil trade fair and seminar in Johannesburg.

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