Soybeans (Source: CME)
US soybean futures ended with modest gains, breaking a three-day string of losses. Market managed to rebound from declines that held for most of the day, with buying emerging near the close as traders covered shorts ahead of the weekend, analysts say. Lingering worries about crop potential in southern Brazil and unwinding of long corn/short soybean spreads aided the recovery, analysts add. Traders say soy prices must gain against corn to attract acreage this year. CBOT March soybeans ended up 1 1/2c to $12.29/bushel.
Soybean Meal/Oil (Source: CME)
Soy-product futures end mostly lower, succumbing to broader commodity weakness in the absence of fresh supportive news. Soyoil continued to before better versus soyoil as traders are optimistic about world vegoil demand. CBOT March soyoil fell 0.01c to 52.53c/pound while March soymeal dropped $1 to $320/short ton.
Palm oil inches down on bearish U.S. crop report
SINGAPORE, Feb 10 (Reuters) - Malaysian crude palm oil fell on the back of a bearish U.S. crop report and prospects of slowing demand indicated by export trends, although losses were capped by a long-awaited Greece deal which helped allay fears of an immediate default.
"The market's a little bearish because it expects a steeper production drop in South American crop," said a dealer with a foreign commodities brokerage in Kuala Lumpur.
Malaysia's Jan palm oil stocks fall to five-month low
KUALA LUMPUR, Feb 10 (Reuters) - Malaysia's January palm oil stocks slipped to a five-month low as a decline in production outpaced a drop in exports, industry regulator Malaysian Palm Oil Board said on Friday.
Stocks in the world's No. 2 producer of the edible oil fell 2.5 percent to 2.0 million tonnes from December last year, almost matching market expectations of a 2.2 percent drop.
China Jan soy imports down 15 pct vs Dec - customs
BEIJING, Feb 10 (Reuters) - China, the world's top soy buyer, imported 4.61 million tonnes of the oilseed in January, down 15 percent from 5.42 million tonnes in December, as crushers reduced imports during a holiday shutdown, figures from the General Administration of Customs of China showed on Friday.
On an annual basis, soy imports fell 10.2 percent in January, largely due to seasonal factors as the Lunar New Year fell in January this year but in February last year. Soy plants across the country typically close during the week-long holiday.
Brazil soy crop view wilts but corn rises - gov't
SAO PAULO, Feb 9 (Reuters) - Brazil's government pared back its forecast for soy production on Thursday as drought over the southern grain belt took its toll on yields, but it raised the estimate for corn, expecting winter planting to jump in the coming weeks.
The fifth forecast of the 2011/2012 grain crop by the Agriculture Ministry's supply agency Conab comes after drought over southern Brazil and Argentina raised fears of a sharp drop in output. Combined, the two nations produce more soybeans - an important global source of protein and vegetable oils- than the United States, the largest single producer.
India's Jan palm, soy oil imports seen up
NEW DELHI, Feb 10 (Reuters) - India's palm oil imports may have risen in January over the previous month as domestic supplies run out, a Reuters survey showed on Friday, but the imports could fall this month with start of the rapeseed harvest season.
Palm oil imports -- the bulk of India's edible oil purchases -- rose 3.1 percent last month to 569,750 tonnes, according to the survey of eight traders, with soyoil imports seen up 360.3 percent to 34,000 tonnes over December.
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