ITS CPO down 3.6% to 1,239,758 tonnes for the period of 1~31 Jan 2011.
SGS CPO down 4.6% to 1,202,368 tonnes for the period of 1~31 Jan 2011.
Floods in Malaysia delay palm oil deliveries, prices climb
KUALA LUMPUR, Jan 31 (Reuters) - Rain-driven floods have disrupted Malaysian oil palm estates from transporting the vegetable oil to refineries and ports, which may trigger a supply squeeze and boost prices.
La Nina-induced rains have inundated some estates in Sabah state on Borneo island and southern Johor state on mainland Malaysia -- the top oil palm growing regions that account for more than 50 percent of total output.
Soy product futures ended lower after prices jockeyed in both positive and negative territory over the course of Friday's session. Soyoil initially spiked to a 3-session high, bolstered by sharply higher crude oil futures and strength in world vegoil markets. However, futures backpedaled after midday, as traders booked profits ahead of the weekend in unison with soybeans, analysts said. CBOT March soyoil ended 0.14 cents or 0.2% lower at 57.27 cents per pound, and March soymeal traded $0.40 or 0.1% lower at $377.00 a short ton. (Source: CME)
Palm up on supply concerns; set for 1st monthly loss in 7 months
KUALA LUMPUR, Jan 28 (Reuters) - Malaysian palm oil futures extended gains as worries over heavy rains stalling harvesting lifted prices.
"The floods are not really serious and we are in a low production period, but if heavy rains continue in Johor for more than a week, we may have a problem," said industry analyst M.R. Chandran.
Argentine soy crop seen stable on recurring rains
BUENOS AIRES, Jan 27 (Reuters) - Argentina's soy crop is seen stable at 47 million tonnes after widespread rains, but with the key yield-setting stages ahead, soybean fields remain at risk, Buenos Aires Grains Exchange said on Thursday.
Two weeks of heavy rains have brought new life to soy crops in parts of Buenos Aires province, the top soy growing region, which could ease fears that the La Nina-triggered dryness will cripple Argentina's soy output.
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