Soy Oil chart reading : side way range bound.
Soybeans (Source: CME)
US soybean futures finish lower, pressured by concerns about Chinese demand and the potential for higher soybean acres arising from delayed corn plantings. The market is worried about China's future growth, with talk of the country looking to cool inflation seen as a threat to US export demand, says Dave Marshall, an independent marketing advisor. China, the leading importer of US and global soybeans, has slowed its purchasing amid high port inventories and comfortable supplies at crushing plants. Further pressure was derived from freshly harvested South American supplies and cool, wet Midwest conditions poising a threat to early corn seedings. CBOT July soy settles down 7 1/4c at $13.89 1/4 per bushel.
Soybean Meal/Oil (Source: CME)
Soy-product futures end lower, backpedaling in unison with declines in soybean futures. Soymeal drew additional pressure from slowing demand, while soyoil was also hurt by weakness in world vegoil markets, analysts said. CBOT July soymeal finished down $1.50 at $364.40/short ton and July soyoil dropped 0.20c to 58.62c/pound.
US Soybean,Soymeal Exports To SE Asia In Containers Rise -Exec (Source: CME)
Shipments of U.S. soybeans and soymeal in containers to Southeast Asia are on the rise, as importers increasingly prefer to source cargoes in small volumes and reduce costs, a senior industry executive said. A major shift in import trends in the region is taking place, with containers increasingly favored over bulk shipments, American Soybean Association-International Marketing Regional Director John A. Lindblom said on the sidelines of a grains conference. He said close to 800,000 tons, or 35% of U.S. soybeans exports to Southeast Asia last year, were in containers. Around 19%--or 450,000 tons--of U.S. soymeal exports to the region were also in containers. Lindblom said figures for this year are yet to be compiled, but the trend will likely continue. Lindblom said that trade in containers has also helped importers establish direct contact with suppliers in the U.S., circumventing major grains trading companies.
He said importers believe another advantage of container shipments is that grain retains relatively higher quality if it doesn't have to pass through large elevators used to load bulk shipments. With large volumes of clothing, furniture, shoes and electronic goods being exported from Indonesia, Vietnam and Malaysia to the U.S., "many of these container boxes are returning to the region with soybeans and soymeal," he said. He said importers are also shifting their preferences towards container shipments as they don't have to tie up large amounts of capital for bulk cargoes of several thousand tons. Last year, close to 30% of U.S. soybean exports to Indonesia were in containers, he said. Indonesia is the largest buyer of U.S. soybeans in Southeast Asia. The U.S. has close to a 90% share of Indonesia's soybean import market.
Palm oil dips on rising production outlook, export data
Malaysian palm oil futures eased, as concerns about a higher production cycle, falling comparative oils and export numbers from the previous session weighed on prices. “On the cash side it is very quiet," said one trader. "The market is softer ... palm has been trading higher based on outside market (like) Dalian, CBOT and crude.
Argentina says 2010/11 soy harvest advancing fast
BUENOS AIRES, April 25 (Reuters) - Argentina's soy harvest advanced at a fast pace over the week through Thursday, despite rains that sometimes slow down bringing in the crop, the Agriculture Ministry said on Monday in its weekly report.
Argentina's Agriculture Ministry last week increased its 2010/11 soy harvest forecast to 50.4 million tonnes from 50 million tonnes as rains improved yields.
Brazil soy crop 91 pct harvested - Celeres
SAO PAULO, April 25 (Reuters) - Harvesting of Brazil's record 70.56-million-tonne soybean crop picked up last week helped by dry weather in most producing areas, grains analysts Celeres said on Monday.
In its latest weekly report, Celeres said that 91 percent of the new crop has been gathered, up from 85 percent the week prior but still lagging the 94 percent harvested at this time in 2010.
Canada farmers aim to boost canola area
WINNIPEG, Manitoba, April 21 (Reuters) - Canadian farmers intend to plant record-large acreage to canola for the fifth straight year, as well as more wheat and oats, grain traders and analysts said, but planting delays cast a shadow of uncertainty over prospects in the western crop belt.
Farmers will try to boost canola plantings by 10 percent to 18.5 million acres, according to the average of estimates gathered in a trade survey by Reuters ahead of Statistics Canada's first farmer survey of 2011 planting intentions, due on Tuesday.
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