20110325 0910 Soy Oil & Palm Oil Related News.

Soy Oil chart reading : side way range bound little downside biased.

ITS CPO export down 3.7% to 937,591 tonnes for the period of 1~25 Mar 2011.
SGS CPO export down 0.3% to 954,441 tonnes for the period of 1~25 Mar 2011.

Soybeans (Source: CME)
US soybean futures rebound from an early session slide on fears that farmers will not sow enough acres this spring to replenish depleted soybean supplies, and potential yield losses from wet conditions in northern Brazil. New crop contracts led the advances after private forecasters projected smaller than expected spring acres, said Mike Zuzolo of Global Commodity Analytics. However, gains in nearby futures lagged, with slower domestic and export demand amid competition from newly harvested South American supplies limiting spot month advances, Zuzolo added. CBOT May soy ended up 0.2% at $13.54 1/2 a bushel, and new crop Nov finished up 0.8% at $13.43 1/2.

Soybean Meal/Oil (Source: CME)
Soy product futures ended mixed, with soymeal succumbing to pressure from slower demand. Soymeal felt the weight of slumping demand and increased competition from South American supplies, analysts said. Soyoil ended higher, buoyed by lower than expected end of month stocks reported in Census Bureau Feb crush report, analysts said. CBOT May soymeal end down $0.20 or 0.06% lower at $359.80 per short ton, and May soyoil ended up 0.64c or 1.2% at 56.12 cents per pound.

Palm oil ends off 4-mth low; technicals, output weigh
KUALA LUMPUR, March 24 (Reuters) - Malaysia's crude palm oil futures ended off a four-month low on Thursday although weak technicals and expectations of strong production continued to weigh.  "They realised that the other markets are not sharply falling in the same way and there is view that crude oil above $100 a barrel will support palm oil."

Recurring rains lift Argentine soy growth- exchange
BUENOS AIRES, March 23 (Reuters) - A second week of rains in central and southern parts of Argentina's farming belt should help maturing soy crops after a dry spell late last month, the Buenos Aires Grains Exchange said on Wednesday.
Argentina, the world's third-biggest soy exporter, had dry weather earlier this season, but heavy rains from mid-January onward brightened the outlook for the oilseed.

Exporters sell 105,000 T US soybeans to unknown
WASHINGTON, March 23 (Reuters) - Private exporters reported the sale of 105,000 tonnes of U.S. soybeans to unknown destinations for delivery in the 2011/12 marketing year, said the Agriculture Department on on Wednesday.
The 2011/12 marketing year for soybeans will open on Sept 1.