Soy product futures backpedaled in unison with soybeans. Soyoil futures tumbled, succumbing to speculative selling, as traders trimmed risk exposure in the face of increased availability of soybeans for U.S. soybean processors. Soymeal futures fell in step with the rest of the soy complex, but lost product value share to soyoil on spreads, as traders are less fearful of tight nearby stocks, reflective of ample deliveries against the October future, traders said. December soyoil settled 1.26 cents or 2.8% lower at 435.83 cents per pound. December soymeal ended $17.00 or 5.5% lower at $289.90 per short ton. (Source: CME)
Palm oil inches higher on oil gains, China demand eyed
JAKARTA, Oct 1 (Reuters) - Malaysian palm oil ended up marginally on gains in crude oil, but the lack of fresh supply-demand data and a holiday in China meant gains were limited.
"The main supportive features in the market are firmer crude oil and unpredictable weather," said a trader at a local brokerage firm in Kuala Lumpur.
Indonesia Aug palm oil exports up 6.2 pct y/y
JAKARTA, Oct 1 (Reuters) - Indonesia's palm oil exports in August rose 6.2 percent from a year ago on strong demand from its traditional buyers, India, China, and Europe, data from the Indonesian Palm Oil Producers' Association, showed on Friday.
Crude palm and other edible oils accounted for about 15 percent of total exports in August, up from 8 percent in July, data released by the statistics bureau showed on Friday, and made a significant contribution to the better-than-expected export figures for that month.
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