ITS CPO export up 5.95% to 809,814 tonnes for the period of 1~20 Aug 2012.
Pro Farmer: After the Bell Soybean Recap (source:CME)
Soybean futures ended mid- to high-range with September through March futures steady to 5 1/2 cents lower and deferred months 2 3/4 to 6 3/4 cents firmer. Soymeal posted losses while soyoil ended with gains for the day amid spreading. Yesterday, disappointing Pro Farmer Midwest Crop Tour pod counts pushed the soybean market to new contract highs. While these concerns remain close at hand, reports of relatively better results today (though far from "good") and a firmer dollar for much of the day encouraged traders to book some profits.
Soybean Complex Market Recap (source:CME)
November Soybeans finished down 4 3/4 at 1727 3/4, 6 1/2 off the high and 12 1/4 up from the low. January Soybeans closed down 5 1/2 at 1715. This was 11 up from the low and 7 1/2 off the high. December Soymeal closed down 4.8 at 519.7. This was 3.9 up from the low and 6.1 off the high. December Soybean Oil finished up 0.61 at 56.83, 0.16 off the high and 1.16 up from the low. November soybeans traded lower into the closing bell and settled off session lows. Soybean meal was lower on the day but soybean oil traded sharply higher, posting a new high for the move. Soybeans continue to see support from strong export demand and questionable yields across the Corn Belt. News that Argentina grain and vegetable oil exports have been halted for 3 days due to a strike offered support to the grain and oilseed complex. The US Dollar traded slightly higher midsession which offered resistance to price gains but dovish comments by the FOMC turned the US Dollar lower and commodity prices recovered into the closing bell. Early yield reports from a large crop tour have been worse than expected for some areas, but rainfall and cooler temperatures in early August have benefited portions of the soybean crop. The trade feels the average US soybean yield could be near 36.5 bushels per acre vs. the August USDA estimate of 36.1. If attained, this could mean total supply for 2012/13 of 2.7 billion bushels.
Brazil forward soy sales steady, could rise on high prices (Reuters)
Forward sales of Brazil's 2012/2013 soybean crop held nearly steady with a week ago, local analyst Celeres said on Monday, though mounting evidence of severe damage to the U.S. crop drove prices to a one-month high.
EDIBLES: Malaysian crude palm oil futures rose to a one-month high, chasing gains in the soybean oil market after reopening from a long weekend break and getting support from exports. (Reuters)
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