Soy product futures ended mixed, with the unwinding of meal/oil spreads featured. Soymeal succumbed to spillover pressure from soybeans, while soyoil was buoyed by a correction from Tuesday's sharp declines. December soymeal ended $6.40, or 2.4%, lower at $259.40 per short ton. Speculative funds were estimated sellers of 2,000 lots in soymeal. December soyoil settled 0.36 cent, or 1.0%, higher at 37.17 cents per pound. Speculative funds were estimated buyers of 4,000 lots in soyoil.(Source: CME)
Oil hits 7-1/2 mth lows on key exports data
KUALA LUMPUR, June 30 (Reuters) - Malaysian crude palm oil futures rose after falling further than a seven-month low earlier in the day as investors took positions on overseas demand, however global economic uncertainty capped gains.
"The palm oil price is on the low side because both regional equity markets and commodity prices do not look good, unless the global economy shows a stable recovery," said a trader in Kuala Lumpur.
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