Friday, January 21, 2011

20110121 1836 FCPO EOD Daily Chart Study.

FCPO closed : 3748, changed : +16 points, volume : lower.
Bollinger band reading : side way range bound.
MACD Histrogram : recovering, seller covering position.
Support : 3720, 3700, 3650 level.
Resistance : 3750, 3800, 3850 level.
Comment :
FCPO closed recorded small gain with lower volume transacted after export data released showing a slow but improving figure while soy oil futures price traded little higher after yesterday drop.
Daily chart formed a doji up bar candle with longer upper shadow after market opened and tested lower support and reversed surging higher tested near resistant level followed by second session last hour sell down surrendered partial of the morning gain to closed off the high of the day right at the middle Bollinger band level. Reading remained suggesting a side way range bound market development testing support and resistant level.
When to buy : buy at support or weakness with quick cut loss and profit target.
When to sell : sell at resistant or strength with quick cut loss and profit target.

20110121 1809 FKLI EOD Daily Chart Study.

FKLI closed : 1543 changed : -24.5 points,  volume : higher.
Bollinger band reading : correction side way range bound upside biased.
MACD Histrogram : getting lower, buyer leaving while seller show some interest.
Support : 1530, 1515, 1500 level.
Resistance : 1550, 1560, 1570 level.
Comment :
FKLI closed recorded huge losses with higher volume traded after regional market ended lower today and yesterday.
Daily chart formed a wide range down bar candle after market opened gap down and dive deeper to closed near the low of the day below middle Bollinger band support level with the reading still suggesting a correction side way range bound upside biased market development.
When to buy : buy at support or weakness with quick cut loss and profit target.
When to sell : sell at resistant or strength with quick cut loss and profit target.

20110121 1707 Local & Global Economic Related News.

Malaysia: Big jump in FDI in 2010
Foreign direct investment (FDI) inflows into Malaysia totaled USD7bn (RM21.4bn) in 2010, compared with USD1.4bn in 2009, reflecting increasing investor confidence in Malaysia. This was an impressive growth of 409.7%, the highest recorded in the region as well as among the 153 economies surveyed by the United Nations Conference on Trade and Development (UNCTAD) in its Global And Regional FDI Trends 2010. (StarBiz)

Taiwan: Export orders increase more than estimated
Taiwan’s export orders increased more than estimated, signaling overseas shipments are poised to weather the appreciation in the local dollar and support the island’s economic recovery. Orders, an indication of shipments in the next one to three months, rose 15.27% from a year earlier, after a 14.34% climb in November, the Ministry of Economic Affairs said. The median estimate of 15 economists in a Bloomberg News survey was for a gain of 12.3%. (Bloomberg)

South Korea: Jump in S. Korean inflation expected
South Korea’s central bank expects consumer inflation in January to accelerate from December’s reading of 3.5%, but has no immediate plan to revise upwards its annual target, an official said. The Bank of Korea has forecast consumer inflation to accelerate to 3.7% in the 1H 2011 and to average 3.5% for the year, versus last year’s actual print of 2.9%. (StarBiz)

China: 2010 growth hits blistering 10.3%
China said that its economy grew 10.3% in 2010, marking the fastest annual pace since the onset of the global crisis, but concerns about persistent inflation sent Asian markets tumbling. The data has fuelled expectations for a stronger currency, a change that Washington has pressed for during President Hu Jintao's high-profile US visit as China pulls on a variety of levers to rein in consumer prices. (BT)

US: Home sales, leading index show gains
Sales of previously owned US homes and the index of leading indicators exceeded forecasts, signs the expansion is gaining momentum at the start of 2011. Purchases of existing houses jumped 12% in December to a USD5.28m annual rate, the National Association of Realtors said in Washington. The New York-based Conference Board’s gauge of the economic outlook for the next three to six months rose 1%. Claims for unemployment benefits fell by 37,000 last week, according to the Labor Department. (Bloomberg)

20110121 1706 Malaysia Corporate Related News.

Genting Singapore in talks to buy building
Casino operator Genting Singapore said that its subsidiary Resorts World Properties is in negotiations with Singapore Technologies to buy an office block. The Singapore Business Times reported that Resorts World is expected to pay about SGD1,500 per square foot on the current net lettable area of 98,906 square feet, or about SGD150m. (BT)

Rimbunan Sawit to acquire another 15% stake in PJP Pelita Biawak
Rimbunan Sawit plans to acquire another 15% stake in PJP Pelita Biawak Plantation SB from Lembaga Amanah Kebajikan Masjid Negeri Sarawak (LAKMNS) for RM12.7m. Rimbunan Sawit said upon completion of the acquisition, its shareholding would increase to 85% from 70%. The acquisition, expected to be completed by 30 June 2011. (MalaysianReserve)

Puncak Niaga fails to get Indian jobs
Water infrastructure specialist Puncak Niaga Holdings was not successful in the tenders for several jobs called by the Tamil Nadu Water Supply and Drainage Board. These jobs were joint bids with partner P&C Constructions (P) Ltd. (Starbiz)

Bina Puri wins Thai project
Bina Puri Holdings’ associate, Bina Puri (Thailand) Ltd (BPTL), has secured a 626m baht (about RM62.76m) project to undertake structural and architectural works for phase one of Phahonyothin Park condominium in Bangkok. (Starbiz)

Vale project may cost up to RM14bn
Brazilian mining giant Vale International SA's construction costs in its iron-ore transshipment project will be between RM9bn and RM14bn over a five-year period, and the project will likely start in July or August this year, said Perak Mentri Besar Datuk Seri Dr Zambry Abdul Kadir. Vale has received the necessary planning and statutory approvals. It is now in the midst of drawing up the engineering plan. While the Perak government has no equity participation in the project, it will participate in the port and logistics operations. There will also be cosharing with local companies on the downstream activities. The multiplier effect of the downstream activities is expected to triple Vale's initial investment. “Vale has agreed to bring more economic growth along that area. Local companies will be subcontracted to participate in the trickle-down activities. They will include Malaysian companies involved in iron ore, steel, fabrication, shipbuilding, canning and tin,” Zambry said. Under the project, Vale will develop an iron-ore complex, including its own jetty in Teluk Rubiah, Lumut. Zambry said this would serve as an impetus for the development of iron ore and steel-related industries. He said the shipbuilding activities would take place along the beachfront from Lumut to Bagan Datok. “Some of the local shipbuilders may build the smaller ships to transship the iron ore in the latter phase,” Zambry said. (Starbiz)

20110121 1702 Renewables Energy Related News.

ROMANIA SAYS MUST SHUT AGING POWER PLANTS- REPORT
BUCHAREST, Jan 18 (Reuters) - Romania will have to shut down outdated power plants generating some 30 percent of its electricity capacity by 2020 and replace them with new units, an economy ministry official was quoted on Tuesday as saying.
The European Union state needs to replace more than half its power plants by 2035, said Alexandru Sandulescu, the head of the ministry's energy policies department.

UK HYDRO POWER PERMITS TO TREBLE IN 2011 -AGENCY
LONDON, Jan 17 (Reuters) - Britain's Environment Agency expects to treble the number of environmental permits it issues for hydro power plants this year due to new public subsidies, the project manager involved in the process said.
"Our forecast is about 200 formal applications and another 200 pre-applications," said agency Project Manager Gerard Morris.

GERMAN GOVT PLANS TO MOVE FORWARD SOLAR CUTS-SOURCES
BERLIN, Jan 17 (Reuters) - The German government is planning to move forward the next scheduled reductions in solar power feed-in tariffs of up to 12 percentage points by six months to July 1, 2011, government and coalition sources said on Monday.
The information was included in the draft of a new law being prepared in the Environment Ministry, obtained by Reuters.

GROUPS LAUNCH WIND POWER PRODUCT LABEL- "WINDMADE"
LONDON, Jan 17 (Reuters) - Groups and companies including WWF and Danish wind turbine maker Vestas  on Monday supported the launch of "WindMade" as a label for products made using wind power, aiming to attract green consumers.
To use the label, producers would have to pass a test confirming their use of wind power, and in return they can benefit from a possible price premium similar to that organic food has over conventional produce.

FRANCE'S DIRECT ENERGIE EYES HYDRO-POWER BIDDING
PARIS, Jan 17 (Reuters) - French private energy firm Direct Energie, working with Swiss utility group Axpo, aims to win a hydro-power station concession when France opens up competition in the sector, its head said on Monday.
The French government plans to launch bidding rounds between 2011 and 2013 to renew existing concessions for 10 hydro-power stations, which account for around 5,000 megawatts (MW) or the equivalent of five small nuclear reactors.

SPECIAL REPORT-IS A SOLAR TRADE WAR ABOUT TO FLARE?
EBERSWALDE, Germany, Jan 17 (Reuters) - Germany's fifth-biggest solar power park emerges as a smudge on the horizon long before you reach it on the outskirts of the small, sleepy village of Eberswalde, an hour's drive north of Berlin. "In the far distance, you can see it," Peter Kobbe says, pointing through heavy December snowfall as he steers his Citroen van along an icy road.
Kobbe, 64, works at Finow airport, where a local investment firm built the 58 million euro ($77 million) solar park in 2009. Finow itself was built by the Nazis before World War Two and later became one of the Soviet Union's main Cold War hubs.

CONSERVATION GROUP SUES TO STOP CALIFORNIA SOLAR PLANT
LOS ANGELES, Jan 16 (Reuters) - A U.S. conversation group has sued the federal government over its approval of a major solar power plant in the California desert, the latest in a string of challenges to the nation's renewable energy goals from the environmental community.
According to court papers, the non-profit Western Watersheds Project alleged U.S. regulators approved Brightsource Energy's 370-megawatt Ivanpah solar energy plant without conducting adequate environmental reviews, and asked the court to order the defendants to withdraw their approvals.

SOUTH CHINA PROVINCES TO FACE 6 GW POWER SHORTFALL
BEIJING, Jan 17 (Reuters) - Southern Chinese provinces served by China Southern Power Grid Corp may face a power shortage of more than 6 gigawatts (GW) when hydropower output falls to its seasonal low this year, the grid operator said on the weekend.
Shortages will be experienced mostly in Guangdong, China's export hub, because of insufficient generating capacity, the grid operator said in a report on its website ( www.csg.cn ).

CROATIA ANNOUNCES TENDER FOR NEW HYDRO PLANT
ZAGREB, Jan 14 (Reuters) - State power board HEP announced on Friday a tender for a hydropower plant in southern Croatia that is seen as the start of a major drive to cut energy imports while generating more power to fuel faster economic growth.
The 130 million euro ($175 million) project, near the historic resort city of Dubrovnik, is being financed by a loan from the European Bank for Reconstruction and Development.

UK OFFSHORE WIND FARMS STARTS POWER EXPORTS
LONDON, Jan 14 (Reuters) - The first turbines of two new British offshore wind farms started exporting their first power over the past two weeks, the respective developers said on Friday.
The first turbine at the Dong Energy  and SSE's  367.2 megawatt (MW) Walney offshore wind farm, located off the coast of Cumbria, started generating electricity on Thursday.

ENEL GREEN POWER TO BUILD 90 MW WIND FARM IN ITALY
MILAN, Jan 14 (Reuters) - Italy's biggest renewable energy company, Enel Green Power (EGP) , said it had received authorisation to build a 90 megawatt wind farm on the island of Sardinia.
EGP  plans to build the farm, which will consist of 39 Siemens  wind turbines each with 2.3 MW capacity, this year, the company controlled by Italy's biggest utility Enel  said in a statement on Friday.

CANADIAN SOLAR SUPPLIES PV MODULES TO ITALY PLANT
Jan 13 (Reuters) - Chinese solar firm Canadian Solar Inc  said it supplied modules to Europe's largest capacity photovoltaic solar power plant, in Italy, built by MEMC Electronic's  unit SunEdison.
Canadian Solar, whose operations are largely based in China, said the plant is expected to power more than 16,500 homes in the first year of operation.

CHINA HAS HIGHEST WIND POWER CAPACITY - XINHUA
BEIJING, Jan 13 (Reuters) - China has the world's highest wind power capacity after adding 62 percent or 16 gigawatts (GW) in new capacity last year, the official Xinhua News Agency reported on Thursday.
The country's total installed wind power capacity reached 41.8 GW at the end of last year, the report said, citing Li Junfeng, secretary general of the Chinese Renewable Energy Industries Association.

SOLAR STOCKS FACE ANOTHER TOUGH YEAR IN 2011
LOS ANGELES, Jan 12 (Reuters) - Investors hoping that 2011 will mark the return of off-the-charts growth in solar stocks will be sorely disappointed, though the industry's battered share prices make for good bargains in the meantime.
In 2010 the fast-growing industry logged its biggest sales year ever, yet shares of solar panel makers lagged the broader market significantly.

20110121 1702 Biofuels Related News.

MAURITIUS OMNICANE SEES SUGAR OUTPUT UP 63 PCT
PORT LOUIS, Jan 18 (Reuters) - Leading Mauritian sugar producer Omnicane  said on Tuesday it expected the launch of a new factory this year to boost its refined sugar production by 63 percent.
"We are completing the sugar refinery, which we hope will reach cruising speed by June this year. This will help to increase our production of refined sugar to about 170,000 tonnes this year from 104,000 tonnes in 2010," Chief Executive Jacques d'Unienville told Reuters.

CANADIAN BIODIESEL PLANT TO MAKE FUEL FROM FLAX
OTTAWA, Jan 14 (Reuters) - A tiny Canadian startup company that is preparing to open a biodiesel plant in Toronto this spring says it will produce clean fuel, animal feed and human food all from the modest flax seed.
Privately held Energy Innovation Corp, which has also developed a way to produce biofuel from used coffee grounds, said its production process creates multiple revenue streams, but no waste.

VALERO INVESTS $50 MLN IN CELLULOSIC ETHANOL PLANT
LOS ANGELES, Jan 13 (Reuters) - U.S. oil refiner Valero Energy Corp  will invest up to $50 million in a plant that will produce ethanol from wood, a major mainstream backing for the emerging technology.
The investment in venture capital-backed Mascoma Corp includes a deal for Valero to purchase the facility's 40 million gallons of cellulosic ethanol, the companies said on Thursday in a joint statement.

EPA TO DELAY CO2 PERMIT REQUIREMENTS FOR BIOMASS
WASHINGTON, Jan 12 (Reuters) - The U.S. Environmental Protection Agency said on Wednesday it will delay for three years requiring biomass-fired boilers to have permits for emitting carbon dioxide emissions.
"We are working to find a way forward that is scientifically sound and manageable for both producers and consumers of biomass energy. In the coming years, we will develop a common sense approach that protects our environment and encourages the use of clean energy," said EPA Administrator Lisa Jackson.

US FARM GROUP--INSTALL PUMPS, END ETHANOL CREDIT
ATLANTA, Jan 11 (Reuters) - Congress should transform the $6 billion a year ethanol tax credit into a program that underwrites the installation of "blender" pumps and pipelines so biofuels are more widely available, the largest U.S. farm group said on Tuesday.
The 45-cent a gallon tax credit, which goes to gasoline blenders, expires at the end of this year. Congress voted for the one-year extension last month amid arguments whether to end the tax credit altogether or to reform biofuels supports.

20110121 1651 Global Market Related News.

Asian stocks slide as policy worries intensify
HONG KONG, Jan 21 (Reuters) - Asian stocks slipped and commodities paused on Friday after a recent selloff on worries that rising inflation may invite aggressive policy tightening and hurt growth in the world's engines like China and India.
"The market's pretty skittish when it comes to the risk of policy tightening," said Pengana Capital portfolio manager Tim Schroeders.

Gold edges up; investors interest weakens
SINGAPORE, Jan 21 (Reuters) - Spot gold edged up, recovering from a decline of two percent in the previous session, propped up by physical buying interest, but ebbing investment demand in consequence of an improved economic outlook continued to weigh on prices.
"It's long liquidation. ETFs keep redeeming," said a Singapore-based trader. "Some long-term gold holders have definitely been going out."

Oil heads for 2 percent weekly drop, U.S. crude below $90
SINGAPORE, Jan 21 (Reuters) - Oil was on track for a weekly drop of more than 2 percent, trading near its lowest in ten days, after U.S. inventories rose across all categories and on speculation monetary tightening by China would restrain demand.
"We acknowledge the perception of a rapid move to a triple-digit price level does negatively impact sentiment and does generate more cautious inventory procurement and management, which could add to the softer tone we now expect in the near term," JP Morgan analysts led by Lawrence Eagles said.

US corn eases after rebound on Argentina crop outlook
SYDNEY, Jan 21 (Reuters) - U.S. corn futures eased slightly in Asian trade on Friday, cutting into a rebound a day earlier driven by Argentina lowering its corn output forecast amid concerns over Australian feed wheat sales to China replacing U.S. corn.
U.S. corn futures had slid to a one-week low, falling   nearly 4 percent in two days as China began buying feed wheat   from Australia, which could potentially reduce Beijing's demand   for corn from the United States.

OIL: Crude stay weak as U.S. stockpiles weigh
TOKYO, Jan 21 (Reuters) - U.S. crude futures stayed weak on Friday, a day after a sell-off amid an unexpected rise in U.S. crude stockpiles and worries that China might tighten monetary policy to fight inflation.
China's implied oil demand surged 19 percent to a record 9.6 million barrels per day (bpd) in December, ending the year with record refining volumes and strong diesel imports to ease a domestic diesel shortage.

COMMODITIES: Chinese rate hike fears rattle oil, copper
NEW YORK, Jan 20 (Reuters) - Oil and copper fell sharply and gold slipped on Thursday as investors worried that China will move to cool its booming economy, the engine of commodity demand growth this decade.
"The Chinese economy is clearly growing even faster than people thought it was," said Peter Buchanan, senior economist at CIBC World Markets in Toronto.

GLOBAL MARKETS: China rate concerns roil stocks, commodities fall
NEW YORK, Jan 20 (Reuters) - Global equities and commodity prices fell on Thursday after robust Chinese economic growth prompted fears the world's second-largest economy would try to choke off excessive demand that is fueling inflation.
"The tug of war continued during the course of the day with techs and financials -- the two big behemoths in terms of bellwethers for the market -- slugging it out," Joseph Benanti, managing director of Rosenblatt Securities in New York said about the U.S. stock market moves.

Alaksa pipeline pumping 605,000 bpd, near normal
ANCHORAGE, Jan 20 (Reuters) - The Trans Alaska Pipeline System has been pumping oil at an average rate of 605,000 barrels per day over the last 24 hours, returning to near normal levels after its restart from an outage on Monday, operator Alyeska said Thursday.
"We're ahead of where we thought we'd be," said spokeswoman Michelle Egan, in reference to the gradual ramping up of production on the line that was shut for much of last week after a small leak was discovered, and later repaired.

Alaska oil line facing increased risks as output falls
NEW YORK/ANCHORAGE, Jan 20 (Reuters) - Last week's shutdown of the Trans Alaska Pipeline System, a major artery for U.S. oil, may signal trouble ahead for Alaska's aging oil infrastructure, including more frequent incidents that could damage the environment and cause oil prices to soar.
Workers braved sub-zero temperatures to install a bypass around a small leak at TAPS, allowing the line that ships 12 percent of domestic crude supplies to restart on Monday, and halting the advance of oil prices toward $100 a barrel.

Argentina Exchange Trims Corn Forecast, Soy Estimate Held (Source: CME)
The Buenos Aires Cereals Exchange cut its estimate for Argentina's commercial corn production to 19.5 million metric tons, down 850,000 tons from last week's estimate. Drought damage last month led some farmers to turn their corn fields over to cattle pastures rather than bothering to harvest them, the exchange said in its weekly crop report. However, prospects are looking better after recent showers and forecasts for more rain over the next week, the exchange said. To date, 97.2% of the corn crop has been planted in Argentina, the world's second-leading corn exporter. The exchange held its forecast for soy area at 47 million tons. Dry weather blamed on the La Nina weather phenomenon had challenged the developing soy crop and stoked fears of a steep drop in production. While yields have already been affected in many areas, the increased rain arrived just in time to prevent steeper losses.
Soy planting is virtually complete in Argentina, the world's third-leading soybean exporter and the top shipper of soymeal and soyoil. The winter wheat harvest is virtually complete, with the exchange holding its forecast at 15 million tons. The sunflower seed harvest has just kicked off, with production estimated at 2.7 million tons by the exchange. Argentina is one of the world's leading exporters of sunflower seed oil.

Energy Dept. Offers $240M Loan Guarantee To Biofuels Plant (Source: CME)
The Obama administration awarded more than $600 million in loan guarantees to companies that make fuel from wood chips, municipal waste, cooking oil and other sources. The largest loan guarantee, $250 million, went to Coskata Inc., an Alabama company that will use wood scraps and other biomass products to produce 55 million gallons of ethanol per year. The second largest guarantee, $240 million, went to Diamond Green Diesel LLC, a joint venture between the refining company Valero Energy Corp. and Darling International Inc. Based in Louisiana, Diamond Green will produce diesel fuel using animal fats, used cooking oil and other grease wastes. The other two companies, Enerkem Inc. and INEOS New Planet BioEnergy LLC each received less than $100 million in guarantees. All companies have to meet certain conditions before completing the loan guarantees.
The loan guarantees were awarded by the U.S. Agriculture Department and the U.S Energy Department. Officials from both agencies said the guarantees promote the production of renewable fuels in the U.S., creating jobs and reducing the country's dependence on foreign oil.

China ends year with fast growth, slower inflation
BEIJING, Jan 20 (Reuters) - China finished 2010 with a bang, its growth soaring past expectations while inflation slowed just a touch, numbers that could prod the government to ratchet up its easy-does-it approach to tightening.
Food costs, the main driver of Chinese inflation, have picked up again in recent weeks, showing that Beijing still has its work cut out to keep a lid on price pressures.

U.S. housing starts lowest since late 2009
WASHINGTON, Jan 19 (Reuters) - Groundbreaking for new U.S. homes fell more than expected in December to the lowest in over a year, suggesting the battered housing sector remains a major roadblock to economic recovery.
U.S. housing starts dropped to an annual rate of 529,000 units, the Commerce Department said on Wednesday, down from November's 553,000 and well below forecasts around 550,000 in a Reuters poll. At current levels, starts account for less than a quarter of their boom-time peaks.

METALS-LME copper steady; China growing, inflation above f'cast
SINGAPORE, Jan 20 (Reuters) - London copper prices were steady on Thursday, underpinned by strong Chinese growth data, but inflation in the world's top commodity consumer, and rising stockpiles of copper, weighed on sentiment.Three-month copper on the London Metals Exchange  was unchanged at $9,570 a tonne by 0701 GMT. The metal hit a record high of $9,781 on Wednesday.
China's annual gross domestic product growth sped up in the fourth quarter to 9.8 percent from 9.6 percent in the third quarter, according to the National Bureau of Statistics, defying expectations for a slowdown to 9.2 percent.

PRECIOUS-Gold steady on physical buying; China data supports
SINGAPORE, Jan 20 (Reuters) - Spot gold prices were steady on Thursday, after three days of consecutive gains, as physical buying in Asia continued, while data from China showing a higher-than-expected inflation number supported sentiment.
But the decline in holdings in physically backed exchange-traded funds signalled a shift in investor interest from gold and silver to riskier assets such as stocks amid a brighter economic outlook.China finished 2010 with a bang, its growth soaring past expectations while inflation slowed less than expected, numbers that could prod the government to step up its tightening measures.

FOREX-Euro pauses rally vs dollar as stocks struggle
LONDON, Jan 20 (Reuters) - The euro slipped against the dollar on Thursday as weaker global shares stifled appetite for higher-risk currencies, prompting investors to book profits on the single currency's rally to a two-month high.
European shares were pressured lower, taking a cue from weaker Asian markets after stellar economic growth in China in 2010 fuelled speculation that Beijing may come under more pressure to tighten monetary policy.Lingering concerns about the effectiveness of an EU rescue fund for euro zone countries struggling with debt problems also helped to keep sentiment negative for the euro on Thursday.

20110121 1647 Soy Oil & Palm Oil Related News.

ITS CPO export up 9.74% to 852,607 tonnes for the period of 1~20 Jan 2011.
SGS CPO export up 0.1% to 799,846 tonnes for the period of 1~20 Jan 2011.

Indonesia to hike Feb palm oil export tax to 25 pct-sources
JAKARTA, Jan 21 (Reuters) - Indonesia may increase its palm oil export tax for February to 25 percent from 20 percent in January, after a rally in international prices, industry sources familiar with the matter said on Friday. 
The base export price for crude palm oil (CPO) is likely to be set at $1,194 a tonne in February, up from $1,112 per tonne in January, said one source in the industry ministry.

Soy product futures ended mixed, with soymeal bouncing in unison with the late upturn in soybean prices. Soyoil futures ended lower, slipping to a four-week low on spillover weakness from crude oil futures before a late rise in soybean prices helped trim the market's early declines, analysts said. Crude oil influences soyoil due to its use in making renewable fuels. CBOT March soyoil ended 0.43 cent, or 0.7%, lower at 57.26 cents per pound, and March soymeal traded $2.00, or 0.5%, higher at $385.30 a short ton. (Source: CME)

India min:no refined edible oil import duty cut now
NEW DELHI, Jan 20 (Reuters) - India has no immediate plans to cut import duty on refined edible oils, Trade Minister Anand Sharma said on Thursday, dampening market expectations there could be a duty cut to tame high food inflation.
India, the world's top edible oil buyer, allows duty-free import of crude varieties and imposes a 7.5 percent duty on refined variants.

Palm oil prices seen steady; green output a boost
JAKARTA, Jan 19 (Reuters) - Palm oil prices are unlikely to fall below current levels, while the knock-on effect of climate change will be increased interest in sustainable resources, the new secretary general of the Roundtable on Sustainable Palm Oil (RSPO) said.
The RSPO industry body of consumers, green groups and plantation companies, was formed in 2004 and aims to promote growth and use of sustainable oil palm products.