Soy Oil chart reading : side way range bound.
ITS CPO export up 23.4% to 1,068,050 tonnes for the period of 1~25 May 2011.
SGS CPO export up 16.5% to 1,104,075 tonnes for the period of 1~25 May 2011.
Soybeans (Source: CME)
US soybean futures ended mixed, with nearby contracts succumbing to spillover pressure from corn and wheat in the absence of fresh demand to give prices a boost, said Chad Henderson, analyst with Prime Ag Consultants. A tight supply scenario keeping a level of uncertainty in the market encouraged processors to push cash bids to secure supplies to meet needs through the summer. Deferred month contracts managed to rise on worries farmers may not plant as many acres as previously expected. CBOT July soy settled down 0.1% at $13.72 1/4/bushel; Nov soy up 0.3% at $13.54 1/4.
Soybean Meal/Oil (Source: CME)
Soy-product futures end higher after trading in both positive and negative territory during the session as the markets were forced to do a balancing act between supportive outside market influences and slower demand. Soyoil futures led the advances, supported by a rebound for crude oil. CBOT July soyoil settled up 0.5% at 57.48c/pound while July soymeal rose 0.1% to $359.20/short ton.
Girl Scouts Agree To Research Palm Oil In Cookies (Source: CME)
The two Michigan teens campaigning to replace palm oil in Girl Scout cookies are a step closer to a solution. During a two-hour meeting at Girl Scouts of the USA headquarters in New York City, scout officials agreed to research palm oil to determine if they can get more of the ingredient from rainforests that haven't been cleared for palm oil plantations, or if they can replace it with something else. "This is definitely a step in the right direction," said Madison Vorva, 16, one of the two scouts who met with Girl Scouts officials. "It's taken a lot of work to get to where we are today." Amanda Hamaker, product sales manager for Girl Scouts of the USA, said the organization plans to reach out to the Union of Concerned Scientists, the World Wildlife Fund and other environmental groups about palm oil production.
"We need to define for ourselves what sustainability is," she said. Hamaker said once the organization has learned more, it will arrange a call with Madison and her fellow scout, Rhiannon Tomtishen, 15, to determine the next steps. Rhiannon and Madison were the subject of a Page One story in The Wall Street Journal last Friday. The two became concerned about the presence of palm oil in the cookies after they studied orangutans as part of a project to earn their Girl Scout Bronze Award four years ago. They learned that palm oil plantations are sometimes built on orangutan habitat. In recent months, the girls have been pressuring the organization by enlisting the help of activist groups that wrote letters on their behalf and by encouraging supporters to post messages on the Girl Scouts' Facebook page.
"We were interested in starting the dialogue and that's what's happening," said Rhiannon.
Palm ticks up as exports eyed; euro debts worries remain
JAKARTA, May 24 (Reuters) - Malaysian palm oil futures rebounded higher, as investors positioned themselves ahead of export data later this week, though lingering worries about euro-zone debt capped gains. "Everything else is positive - even crude oil came up a little bit," said one trader. "Volumes are very small and we are waiting for the export rumours."
Japan soybean imports up 2 pct in 2010-attache
WASHINGTON, May 23 (Reuters) - Following are selected highlights from a report issued by a U.S. Department of Agriculture attache in Japan:
"Japan's total soybean imports in 2010 were approximately 3.5 million tonnes, up 1.9 percent from 3.4 million tonnes in 2009, of which the United States supplied 2.5 million tonnes. Demand for temperate oil in 2010 increased 0.8 percent from 2009 while demand for tropical oil increased 8.9 percent over the same period.
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