CBOT grains falls 0.24 pct as Japan fears rattle commodities
SINGAPORE, March 14 (Reuters) - U.S. wheat, corn and soy futures fell by 0.24 percent on Monday as Japan's battle to avert a nuclear disaster at earthquake-damaged reactors unnerved investors, leading them to reduce exposure to commodities.
"Last year Japan took 15 million tonnes of corn from the United States. From the fundamentals side it's an issue for U.S. corn. It is bearish in the market in the short term but the question is: for how long the infrastructure is going to remain down?" Brett Cooper, senior manager of markets at FCStone Australia.
China 2011 soybean imports seen up 9.5 pct, exceed 60MT-report
BEIJING, March 13 (Reuters) - China's soybean imports may exceed 60 million tonnes this year, a jump of at least 9.5 percent from a year ago, and push up global prices, a senior agricultural official said in a report at the weekend.
China's strong demand, along with the willingness of farmers in the United States to grow more corn instead of soybeans due to ethanol fuel demand, will send soybean prices higher, Chen Xiwen, deputy head of the central government's rural work leading panel, told the official Guangzhou Daily.
Argentine soy stays in good shape due rains -gov't
BUENOS AIRES, March 11 (Reuters) - Most of Argentina's 2010/11 soybean crop is developing well due to ample soil moisture after plentiful rains in recent weeks, the Agriculture Ministry said on Friday in a weekly crop progress report.
Argentina is the world's No. 3 exporter of soybeans and the top supplier of soyoil and meal, and heavy rainfall since mid-January has brightened the outlook for the oilseed.
Soy product futures fall in unison with soybeans, succumbing to widespread commodity selling pressure. Markets are pressured by global economic concerns following a massive earthquake in Japan. Soymeal briefly climbed into positive territory, with traders citing the market was oversold. However, speculative selling overcame the buying to return prices into negative territory. Soymeal for May delivery falls $3.70, or 1%, to $350.00 per short ton at the CBOT. Soyoil for May delivery loses 1.03 cent, or 1.8%, to 55.90 cents a pound. (Source: CME)
Palm off two-week lows; stock build view lingers
KUALA LUMPUR, March 11 (Reuters) - Malaysian palm oil bounced from a two-week low hit earlier today and is track for its worst weekly loss since end February as concerns lingered over slowing exports and higher output. "Demand is slowing down on current high price. Technically market still trading downwards, it would not stay at the high for too long, it's just a short-covering on correction," said a trader in Kuala Lumpur.
India edible oil imports seen at 9 mln tonnes-attache
WASHINGTON, March 10 (Reuters) - Following are selected highlights from a report issued by a U.S. Department of Agriculture attache in India:
"An increase in rapeseed-mustard planted area boosted 'rabi' (winter sown) oilseed planting to 8.5 million hectares. Based on current trends, India's edible oil imports are forecast to reach 9 million tons in MY 2010/11. Oil meal exports are projected at 4.9 million tonnes."
Brazil soy views optimistic, expected to fall
SAO PAULO, March 10 (Reuters) - The Brazilian government's record soybean crop forecast rose again on Thursday, in line with many independent estimates, although the outlook will likely be revised down in the coming months due to rain damage in key growing areas.
Brazil's crop supply agency Conab said on Thursday the 2010/11 soybean crop was projected at a record 70.3 million tonnes, up from a forecast of 70.1 million tonnes released in February.
Argentine exchange holds soy, corn harvest outlook
BUENOS AIRES, March 10 (Reuters) - One of Argentina's biggest grains exchanges held its forecast for 2010/11 soy and corn production for a second week on Thursday as maturing crops showed high-yield potential.
Argentina, the world's third-biggest soy supplier, was affected by dry weather earlier this season, but heavy rains from mid-January onward have brightened the outlook for the harvest of the oilseed.
Rain causes losses to soy crop in Brazil No. 5 state
SAO PAULO, March 10 (Reuters) - Heavy rains in March caused losses to the soybean crop in Brazil's No. 5 producing state Mato Grosso do Sul, although preliminary estimates of losses were still sketchy.
Mato Grosso do Sul received over 300 millimeters (12 inches) in the first eight days of March, more than double the monthly average of rainfall that the state gets for all of March, independent weather forecaster Somar said Thursday.
India's Feb vegoil imports to fall on high global prices
NEW DELHI, March 11 (Reuters) -India's vegetable oil imports in February may have tumbled more than a quarter from January as buyers slowed imports due to high global prices and increased domestic oilseeds crushing, a Reuters survey showed on Friday.
India, the world's top vegetable oil buyer, buys mainly palm oils from Indonesia, Malaysia, and small quantities of soyoil from Argentina and Brazil.
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