SGS export down 3.8% to 837,526 tonnes for the period of 1~20 Aug 2010.
ITS export down 1.8% to 863,289 tonnes for the period of 1~20 Aug 2010.
Soy product futures stumbled in unison with soybeans. Soyoil was the downside leader as the bearish influence of ample U.S. supplies, weakness in world vegetable oil markets, and sliding crude oil futures weighed on prices. The market slipped to three-week lows. December soyoil settled 0.97 cent, or 2.3%, lower at 40.48 cents per pound. Soymeal futures retreated as well, succumbing to pressure from declining soybean futures. December soymeal ended $4.90, or 1.6%, lower at $295.10 per short ton. (Source: CME)
Palm oil at more than two-week lows on ringgit, supply
KUALA LUMPUR, Aug 19 (Reuters) - Malaysian crude palm oil futures fell to their lowest in more than two weeks over concerns the appreciating ringgit currency would hit refining margins while the soy production outlook stayed strong. Palm oil has recouped some of its losses in 2010 although it may fall further as a stronger ringgit against the U.S. dollar could lead to lower margins for refiners who buy crude palm oil in the Malaysian currency for processing and export in the U.S. currency.
Argentina urges talks on China soyoil export ban
BEIJING, Aug 19 (Reuters) - Argentina hopes to begin talks with China later in the year to help resolve a tit-for-tat trade dispute that ended with the ban of Argentinian soyoil shipments in April, the country's ambassador to Beijing said on Thursday. China suspended Argentinian soyoil deliveries in April in response to a series of anti-dumping measures against Chinese steel, shoes and textile products, but Argentina has invited a Chinese delegation to visit the country in November and try to ease the frictions, Cesar Mayoral told Reuters in an interview.
No comments:
Post a Comment