Soybeans (Source: CME)
US soybean futures ended lower after trading near unchanged levels for most of the day. A lack of fresh news limited trader's interest, with analysts saying the market has adequately factored in recent export sales and Brazil crop concerns on rallies in prior days. Weekly export sales near the low end of expectations, and disappointment that Wednesday's sales announcements to China didn't signify anything beyond what China were going to buy any way, triggered some profit taking, analysts say. CBOT March soybean ended down 2 3/4c to $12.58 1/4/bushel.
Soybean Meal/Oil (Source: CME)
Soy product futures ended lower, falling in line with soybeans. Light profit taking after advances in prior trading days weighed on prices, analysts say. The markets lacked fresh support to encourage traders to extend recent advances. CBOT March soymeal ended down $2.00 to $330.80/short ton, March soyoil dropped 0.30c to 53.05 cents/pound.
Soybean oil to take limelight from canola: Maguire
-- Gavin Maguire is a Reuters market analyst. The views expressed are his own. --
By Gavin Maguire
CHICAGO, Feb 15 (Reuters) - Rapeseed crop concerns in Europe have helped fuel a sharp rally in canola oil over the past month, and helped return the edible oil markets to trader radars.
But while canola may have taken the lead so far in this 'veg oil' renaissance, soybean oil looks set to take over as the market to watch on the back of reduced soybean production prospects in exporting giant Argentina and a likely soybean acreage reduction in the United States for 2012.
Palm oil eases on Greece bailout delay
SINGAPORE, Feb 16 (Reuters) - Malaysian crude palm oil futures slipped as a delay in a second bailout package for Greece raised investors' concerns, although losses were limited by dry weather fears in soy-producing South America.
"The recent exports data showed that exports for the first 15 days are not that strong but I suspect that this could be due to the delay in the issuance of tax-free crude palm oil quota," said Ivy Ng, an analyst with Malaysia's CIMB Investment Bank.
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