ITS CPO export up 0.75% to 300,250 tonnes for the period of 1~10 Jan 2011.
SGS CPO export down 5.7% to 331,655 tonnes for the period of 1~10 Jan 2011.
MPOB Official Data for the month of Dec 2010 vs Nov 2010
Export down 14.6%
Stock down 1.28%
Output down 15.5%
Soy product futures stumbled in step with losses in soybeans, succumbing to traders taking profits on prior gains. Traders trimmed risk from the market, as improved crop conditions in Argentina, the world leader in soy product exports, and slowing demand took some edge off prices, analysts said. CBOT March soyoil ended 0.59c or 1% lower at 56.82 cents per pound, and March soymeal traded $6.40 or 1.7% lower at $362.70 a short ton. (Source: CME)
Argentina Soy Output Set To Plunge Due To Drought -Analyst (Source: CME)
An ongoing drought in Argentina is devastating the country's soybean crop and production from the world's third-largest soy exporter is going to drop precipitously this season, according to local agricultural consultants AgriPac. Early forecasts for Argentina's soy production had predicted up to 55 million metric tons this season, but now the crop isn't likely to top 40 million tons, AgriPac analyst Pablo Adreani said. Drought damage to Argentina's soy and corn crops stoked an international grain rally in December, with prices touching two-and-a-half year highs due to the prospects of failed crops in the region. "Only a miracle can stop the damages trend in the South American soybean crop," Adreani said. The miracle farmers are praying for is a major storm that soaks the region's parched fields.
But the odds are against it this season. Hot, dry weather is expected over the next two months due to the La Nina weather phenomenon. La Nina involves a cooling of ocean temperatures off the Pacific coast of South America and generally brings dry weather to the south and showers to the north of the continent. This season's La Nina is among the most intense in decades, according to the Buenos Aires Cereals Exchange. La Nina also threatens to dry up crops in Paraguay--a distant fourth in terms of world soybean exports--and in Uruguay, a small, but growing soybean producer. About 20% of Paraguay's crop is at risk, while almost a third of Uruguay's crop is suffering from the drought, Adreani said. Argentina's corn crop has already suffered heavy damage from the drought, although light showers over the past week have helped to stem the decline in the world's second-leading corn exporter.
Adreani said that Argentina's corn production is unlikely to top 17.5 million tons this season, down sharply from early expectations for about 25 million tons.
Palm eases, tracks soy complex; data eyed
KUALA LUMPUR, Jan 7 (Reuters) - Malaysia's crude palm oil futures hit one-week lows as traders squared profits amid losses in the overseas soy complex, although worries over a supply shortage continued to weigh.
"The market is likely to be stable until early March due to an Indian festival later in this month and Chinese New Year in early February," said a trader in Kuala Lumpur.
India's Dec oilmeal exports rise for 6th straight month
NEW DELHI, Jan 7 (Reuters) - India's oilmeal export jumped 94 percent in December from a year earlier, its sixth straight monthly rise, on robust demand from traditional buyers in Japan, Vietnam and Indonesia, data from a leading trade body showed.
The oilmeal exports from India, Asia's leading supplier of the animal feed, were 55 percent higher month-on-month at 765,954 tonnes, the Solvent Extractors' Association of India (SEA) said in a statement on Friday.
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