Soyoil futures bounced, buoyed by spillover support from soybeans and crude oil futures. Smaller-than-expected stocks reported in the National Oilseed Processors Association's crush report and prospects for increased demand amid soyoil's competitiveness in world vegoil markets underpinned prices, analysts said. July soyoil settled 0.49 cents or 1.33% higher at 37.39 cents per pound. Speculative funds were estimated buyers of 3,000 lots in soyoil.(Source: CME)
China soyoil buy lifts Malaysian palm oil
KUALA LUMPUR, June 14 (Reuters) - Malaysian crude palm oil futures gained more than 1 percent, boosted by China's aggressive buying of soyoil.
"One of the reasons that palm oil has lagged is because soyoil has been depressed over the last month," said a trader in Kuala Lumpur.
U.S. rains to slow soy plantings, disrupt wheat harvest
SINGAPORE, June 14 (Reuters) - Rains in U.S. Midwest this week are likely to slow the last leg of soybean planting, while wet weather in the Plains is expected to disrupt winter wheat harvest and increase the risk of disease.
The weather outlook calls for rain or thunderstorms in some parts of Midwest, although overall conditions are favourable for corn and soybean crops, said Mike Palmerino, a forecaster at Telvent-DTN Weather.
France sees 2010 winter rapeseed crop sharply down
PARIS, June 11 (Reuters) - France's winter rapeseed crop is expected to fall to 4.6 million tonnes this year, down 17.2 percent on 2009, the farm ministry said on Friday in its first output projections for this summer's harvest.
The output estimate was based on a yield of 3.2 tonnes per hectare, down from 3.8 tonnes last year, and an area of 1.46 million hectares, down from 1.48 million in 2009.
India's May vegoil imports seen down 26 pct y/y
NEW DELHI, June 11 (Reuters) - India's vegetable oil imports in May probably fell 26 percent from a year ago on lower domestic prices, while the early onset of summer accentuated the seasonal drop in demand, a Reuters survey showed.
Traders said high temperatures in May, three- to five-degrees above normal, slowed consumption demand. Use of vegetable oil for cooking purposes usually wanes in summer.
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