ITS : Export up 5.4% to 653,077 tonnes for the period of 1~15 Sep 2010.
SGS : Export up 6.8% to 632,450 tonnes for the period of 1~15 Sep 2010.
SGS : Import up 94.3% to 20,405 tonnes for the period of 1~15 Sep 2010.
MPOB : August 2010 Export down 17.6%
MPOB : August 2010 Stock up 22.59%
MPOB : August 2010 Output up 5.76%
U.S. soy product futures closed mixed. Soymeal followed soybeans and corn higher, with corn leading the upside in the grains and soy complex, traders say. Market participants were selling soyoil and buying soymeal in spread trades, they say. They booked profits on soyoil after prices on Monday reached the highest level in nearly a month, an analyst says. The outlook for soyoil remains strong due to large export sales, he adds. Commodity funds bought an estimated 2,000 soymeal contracts and sold an estimated 2,000 soyoil contracts. CBOT December soyoil ended down 0.10 cent at 41.71 cents per pound, and CBOT December soymeal rose $3 to $296.50 per short ton. (sOURCE: CME)
India August Vegetable Oil Imports Up 64% (Source:CME)
India's vegetable oil imports in August rose 64% from a year earlier to 1.07 million metric tons--the highest shipment in a single month since 1994--because of festive demand, the Solvent Extractors' Association of India said Tuesday. Total vegetable oil imports during the first 10 months of the marketing year that began Nov. 1 rose 5% to 7.45 million tons from 7.07 million tons a year earlier, the trade body said. India is the world's second-largest vegetable oil importer after China and meets more than half its vegetable oil requirements through imports as production lags consumption. The country imported a record 8.66 million tons of vegetable oil in the marketing year to Oct. 31, 2009.
The country bought 1.0 million tons of edible oil in August, sharply up from 612,898 tons a year earlier, the trade body said. B.V. Mehta, executive director of the trade body, said that taking into consideration the current import trend, the total edible oil imports in 2009-10 is likely to be around 9 million tons. He earlier estimated edible imports between 8.5 million to 8.6 million tons. India will likely import 700,000 to 800,000 tons of edible oil in September, he added. The country imports palm oil mainly from Indonesia and Malaysia and soyoil mostly from Brazil and Argentina. Soyoil imports in August more than doubled to 216,966 tons from 96,474 tons last year.
US Soy Exports To SE Asia May Not Sustain Strong Growth (source:CME)
U.S exporters have made strong inroads in Southeast Asia's soymeal and soybeans markets this year, but that growth may not be sustained, a senior industry executive said Tuesday. Drought in Argentina last year and sharply lower soybean crushings by India boosted demand for the U.S. product to unprecedented levels, but large soybean stocks in India and a bumper crop in South America mean U.S. meal exports could fall in the coming year, said John Lindblom, Southeast Asia regional director for the American Soybean Association. "Vietnam wasn't big on the radar before but has now become one of the largest buyers of U.S. soymeal outside North America," Lindblom told Dow Jones Newswires in an interview ahead of the Agricultural Cooperators' Conference here.
U.S soymeal sales to Southeast Asia have more than tripled in the marketing year to September to a record 2.4 million metric tons from 700,000 tons the previous year, accounting for about a third of the region's imports. Vietnam is the primary driver for U.S. soymeal sales, he said. But because Vietnam will have a soybean-crushing plant on line in first half of 2011, a significant part of this demand may shift to beans in the coming year, he said. But he said sales of soymeal to Vietnam in container shipments may remain strong. U.S. soymeal exports to Vietnam have jumped five-fold this marketing year to 500,000 metric tons, after bulk shipments into the country were for the first time in recent months, Lindblom said. For soybeans, U.S exports to Southeast Asia rose to 2.3 million tons in the marketing year to August from 1.8 million tons the year before and may rise to 2.5 million tons this year, Lindblom said.
Tight supplies from South America and a rise in soybean-crushing capacity in Thailand have given a big push to U.S. soybean sales, in the region. He added that coming crushing plant in Vietnam, with annual capacity of 300,000 tons, may drag down demand for soymeal but will support U.S. soybean sales this year. Still, export growth will be tempered by greater supply from Argentina. Indonesia remains a major buyer of U.S. soybeans in the region with purchases last year rising by around 100,000 tons to 1.4 million tons. "Unlike the Philippines and Malaysia, where crushing of imported beans has been substituted with cheaper shipments of soymeal, in Indonesia the demand remains strong," he said. This is because more than half of Indonesia's soybeans are used to make food products such as tempeh and tofu, and are therefore not vulnerable to fortunes of the bean-crushing industry.
Palm oil slips from 1-mth top on supply concerns
KUALA LUMPUR, Sept 14 (Reuters) - Malaysian crude palm oil futures fell after hitting a new one-month high earlier in the session as traders shifted their focus to prospects of rising supplies in the months to come.
"Supplies are rising all over the place, the U.S. as well as Southeast Asia. What we need to see is strong demand to push the markets higher," said a trader with a foreign commodities brokerage.
India's Aug vegoil imports jump to record-trade
NEW DELHI, Sept 14 (Reuters) - India imported a record 1.06 million tonnes of vegetable oils in August as buyers rebuilt depleted stocks ahead of the festive season, a leading trade body said on Tuesday.
Imports jumped 64 percent, the Solvent Extractors Association of India (SEAI) said, beating trade forecasts of a 36-percent rise.
Forward sales of new Brazil soy crop stop -Celeres
SAO PAULO, Sept 13 (Reuters) - Brazilian soybean producers have suspended selling the 2010/11 soybean crop they are preparing to begin planting later this month, analysts Celeres said on Monday.
Sales of the new crop as of Sept. 10 at 14 percent were unchanged from the week prior but one percentage point ahead of sales this time last year, Celeres said. Producers had sold 16 percent of their crop by this week on average over the last five years.
