US Soy oil futures market closed today due to Christmas Eve Day.
CBOT soy products ended higher as soybeans rallied on strong demand. The U.S. Census crush report was in line with expectation, and showed crushing of soybeans into soymeal and oil was down from the prior month, which analysts said was due to weaker processing margins. Jan soymeal ended up $7.30, or 2.1%, to $360 per short ton. Jan soyoil closed up 0.62 cent, or 1.1%, to 56.59 cents per pound. The market will be closed Friday for the Christmas holiday. (Source: CME)
Palm off 1-week high on China restocking, weather
KUALA LUMPUR, Dec 23 (Reuters) - Malaysian crude palm oil futures ended off one-week highs on Thursday, as China unveiled plans to restock agriculture commodities at a time when erratic weather globally may curb supplies."The weather story now includes a China story, which will see gains across most the of the agricultural complex," said a trader with a foreign commodities brokerage.
Uruguayan farmers seen planting record soy area
MONTEVIDEO, Dec 22 (Reuters) - Farmers in Uruguay are expected to dedicate a record high area to soybeans in the 2010/11 season, despite concerns that dry weather linked to La Nina could hit crops, a government poll showed on Wednesday.
Uruguayan soy output is tiny when compared with that of its South American neighbors Brazil, Argentina and Paraguay -- the world's second, third, and fourth biggest soy exporters, respectively.
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