Soyoil futures stumbled Tuesday, retreating to 8-month lows. Speculative led selling was featured, as broad based weakness, with crude oil tumbling and building supplies amid sluggish domestic demand weighing on prices, analysts said. December soyoil settled 0.99 cent, or 2.6%, lower at 36.81 cents per pound. Speculative funds were estimated sellers of 5,000 lots in soyoil.(Source:CME)
Palm oil hits 7-mth lows on global economy
KUALA LUMPUR, June 29 (Reuters) - Malaysian crude palm oil futures slid to 7-month lows, as sentiment was hurt by a global selloff in stocks and commodities.
"There are some technical selloff as the market is a bit depressed after crude oil, soyoil and regional equities markets fell," said a trader in Kuala Lumpur.
Japan soybean imports seen up 1.5 pct in 2010-ministry
TOKYO, June 29 (Reuters) - Japan, the world's second biggest soybean buyer, is forecast to import 3.44 million tonnes of soybean in 2010, up 1.5 percent from 3.39 million a year earlier, as ample global supply is expected to keep prices relatively low.
Japan's Ministry of Agriculture also said in a report released on Tuesday that the country's soybean demand for crushing is forecast to rise to 2.53 million tonnes in 2010, up 1.8 percent from 2.485 million tonnes in 2009.
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