Soy product futures ended mixed, with soyoil stumbling on the bearish impact of abundant supplies and slowing demand. Early weakness in crude oil helped pin soyoil in negative territory, analysts said. Soymeal futures ended higher, benefiting from soyoil's weakness in the meal/oil spread relationship. December soymeal ended $0.20, or 0.1%, higher at $300.00 per short ton. December soyoil settled 0.76 cents, or 1.8%, lower at 41.45 cents per pound. (Source: CME)
CARGILL TO INVEST $112.4 MLN IN ARGENTINA
BUENOS AIRES, Aug 12 (Reuters) - Agribusiness giant Cargill Inc said on Thursday it will invest $112.4 mln in a biodiesel plant in Argentina, one of the world's top suppliers of biodiesel. Argentina is also the world's top exporter of soyoil, largely used for biofuels production.
Tepid soyoil drags palm oil to fresh one-week lows
KUALA LUMPUR, Aug 18 (Reuters) - Malaysia crude palm oil futures fell to a fresh one-week low on Wednesday as market players booked profit on lacklustre soyoil markets. "There's no significant movement in the overseas market so the market is going for a technical correction," said a trader with a foreign brokerage in Kuala Lumpur. "The market is being mainly influenced by external factors," he added.
Oil falls as U.S. petroleum stockpiles head for record
SINGAPORE, Aug 18 (Reuters) - Oil prices fell after an industry report signalled petroleum inventories in top consumer the United States were headed for a record, following an unexpected sharp increase in crude stocks last week. "It looks like the oil product market is very comfortably supplied and that demand conditions remain lacklustre," said Stefan Graber, a commodities analyst with Credit Suisse in Singapore.
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