SGS CPO export up 32.9% to 448,615 tonnes for the period of 1~10 Mar 2012.
MPOB Official Data for the month of Feb 2012 vs Jan 2012
Exports down 12.6% to 1,210,754 tonnes
Stocks up 2% to 2,059,693 tonnes
Output down 7.9% to 1,185,126 tonnes
Soybeans (Source: CME)
US soybean futures end lower, retreat from early gains as traders take profits. The rally in soybean futures that pushed prices to 6-month highs stalled Friday as forecasters predicted high prices will slow global demand and boost the size of the crop US farmers plant, analysts say. Despite USDA cutting South American production more than expected, traders were focused on how USDA forecasters predicted rising prices will cool global export demand. Traders also voiced concern that further cuts to Latin American will be limited, as forecasters should have a good handle on crops at this point. CBOT May soy ended down 3/4c at $13.37 3/4/bushel, after climbing to $13.55 1/2 overnight.
Soybean Meal/Oil (Source: CME)
Soy product futures end mixed, with the unwinding of soymeal/soyoil spreads featured. The spread of buying soymeal versus soyoil had propelled meal to 5-month highs, but without a new fundamental spark, traders looked to take profits. There was a large spread position unwound in the market, says Mike Zuzolo, president Global Commodity Analytics and Consulting. CBOT May soymeal dropped $4.50 to $362.70/short ton, and May soyoil climbed 0.88c to 54.27 cents/lb.
Palm oil touches 9-month high on upbeat forecasts
KUALA LUMPUR, March 9 (Reuters) - Malaysian crude palm oil futures hit their highest level in nine months, buoyed by an improved global outlook and upbeat price forecasts for the edible oil from analysts at a key conference.
"Fundamentally what we already knew has been out there in the market for a while. If we are talking why there is a sudden surge, it could be the very bullish outlook at the conference," said Selena Leong, an analyst with DMG & Partners Research in Singapore.
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