SGS CPO export down 5.3% to 839,829 tonnes for the period of 1~20 Apr 2012.
ITS CPO export down 5.6% to 844,453 tonnes for the period of 1~20 Apr 2012.
Recap: Soybean Futures (Source: CME)
Soybean futures trimmed early gains to end 2 to 8 cents higher, with meal higher and soyoil mixed amid spreading. Soybeans were higher overnight, but as the U.S. dollar index firmed, bulls lost their hold on the market. Still, futures ended stronger,
largely due to continued strong demand and concerns about how small the South American soybean crop will ultimately be.
Soybean Complex Market Recap (Source: CME)
July Soybeans finished up 7 1/2 at 1421, 14 3/4 off the high and 8 3/4 up from the low. November Soybeans closed up 4 3/4 at 1342 1/2. This was 8 up from the low and 14 1/2 off the high. July Soymeal closed up 1.5 at 395.4. This was 2.6 up from the low and 3.9 off the high. July Soybean Oil finished down 0.01 at 55.59, 0.6 off the high and 0.17 up from the low. May soybeans closed slightly higher on the session but down sharply from the highs of the day which were posted early. More China buying of US old crop soybeans plus a surge higher in corn sparked renewed buying interest in the soybean market early today. Rumors of China buying old crop corn helped to support. Private exporters reported the sale of 110,000 tonnes of US soybeans to China for the 2011/12 season. Weekly export sales for soybeans came in at 374,300 metric tonnes for the current marketing year and 845,000 for the next marketing year for a total of 1.219 million tonnes which was well above trade expectations. Sales of 126,000 metric tonnes are needed each week to reach the USDA forecast. Net meal sales came in at 300,700 metric tonnes for the current marketing year and 1,500 for the next marketing year for a total of 302,200. Sales of 82,000 metric tonnes are needed each week to reach the USDA forecast. Oil sales were 23,900 metric tonnes which was also well above expectations. Cumulative soybean oil sales stand at 66.2% of the USDA forecast for 2011/2012 (current) marketing year versus a 5 year average of 65.3%. Sales of 7,000 metric tonnes are needed each week to reach the USDA forecast. Argentina cut its production estimate for the 2011/12 season to just 42.9 million tonnes as compared with 44 million as their previous estimate and compared with 45 million as the last USDA forecast. May soybean closed lower on the session and down 61 from the early peak.
VEGOILS-Palm oil down on Europe concerns, exports eyed
SINGAPORE, April 19 (Reuters) - Malaysian palm oil futures extended losses as traders held a bearish view ahead of a key Spanish bond sale while staying watchful of export data that will be released on Friday to gauge demand for the edible oil. "I think the sentiment now has changed a bit. When the market hit above 3,600 ringgit, everybody was asking for a healthy correction. So now the immediate target is at about 3,400 ringgit," said a trader with a foreign commodities brokerage in Malaysia.
India 2012/13 oilseed output seen up 3 pct-attache
April 18 (Reuters) - Following are selected highlights from a report issued by a U.S. Department of Agriculture attache in India:
"Assuming a normal monsoon and favorable growing conditions, total oilseed production in Marketing Year (MY) 2012/13 is likely to grow 3 percent to 35.6 million tonnes, as strong market prices for oilseeds during the current year will encourage producers to increase planted area.
Anticipating a larger oilseed crush in MY 2012/13, total oil meal production and feed utilization are likely to grow to 17.3 million tonnes and 11.5 million tonnes respectively, while oilmeal exports are likely to rise 2 percent to 5.5 million tonnes. The larger crush will support growth in domestic edible oil production and consumption. Considering the widening gap between domestic production and consumption of vegetable oils, edible oil imports are expected to increase to 9.7 million tonnes."
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