Soy product futures ended mixed, with soyoil managing to stabilize after facing sharp declines in the past week. Strong global vegoil prices and bullish global demand outlooks for world vegoil markets underpinned prices, analysts said. Soymeal stumbled to 5-week lows in step with soybeans, succumbing to further profit taking on prior gains amid slowing demand, analysts said. CBOT March soyoil ended 0.07 cents or 0.1% higher at 56.61 cents per pound, and March soymeal traded $2.30 or 0.6% lower at $364.30 a short ton. (Source: CME)
Palm oil falls to 2-wk low on concern prices overheated
JAKARTA, Feb 16 (Reuters) - Malaysian palm oil futures fell more than 3 percent tracking many commodity prices lower, as traders said many opted to book profits as the vegetable oil had overrun its positive fundamentals in recent weeks.
"For the first half, production will remain slow and the bullishness will remain, but in the second half, Indonesian production should pick up hugely," said one Indonesian trader.
China Feb soy imports seen the lowest in a year
BEIJING, Feb 16 (Reuters) - China's soy imports in February are seen at 3.13 million tonnes, the lowest monthly level since March 2010 due to seasonal low demand as crushers shut down for Lunar New Year holidays.
But unlike last year, imports in March and April are not expected to jump.
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