Soy Oil chart reading : side way range bound little downside biased.
ITS CPO export up 25.9% to 671,314 tonnes for the period of 1~15 Jun 2011.
SGS CPO export up 16.2% to 699,674 tonnes for the period of 1~15 Jun 2011.
Soybeans (Source: CME)
US soybean futures stumble as investors reduced risk exposure and trimmed premium from prices amid improved crop outlooks. Beneficial weather for crop development and farmers planting soybean crops faster than expected last week weighs on prices, analysts say. Spillover weakness from sharp declines in corn futures coupled with the threat of declining demand from China as the Asian nation attempts to cool inflation adds to the defensive tone, analysts say. CBOT July soy ends down 1.1% at $13.68/bushel, and November soy drops 0.9% to $13.63 3/4.
Soybean Meal/Oil (Source: CME)
Soy product futures end mixed, with soymeal sliding to two-week lows in sympathy with a sharp slide in corn futures. Soymeal is sensitive to movement in corn, as both used as feed for the livestock industry, a CBOT floor broker notes. Soyoil futures edge higher, benefiting from traders booking profits on long soymeal/short soyoil spreads, analysts say. CBOT July soymeal finishes down 3.1% at $358.70/short ton, and July soybean end up 0.05% at 56.85 cents/pound.
Palm oil little moved on stocks, demand
KUALA LUMPUR, June 14 (Reuters) - Malaysian palm oil futures made little headway as the market was split between rising vegetable oil supplies and strong demand expectations.
"The palm oil market is counting on exports. External markets are a little sluggish because the USDA report showed good crop numbers," said a trader with a foreign commodities brokerage in Malaysia.
Cargill to offer sustainable palm oil in N.America
CHICAGO, June 13 (Reuters) - Cargill Inc is offering palm oil that is certified as sustainable to North American food makers, the privately held agribusiness company said on Monday.
Cargill is the largest North American importer of palm oil, an ingredient used in foods such as shortening and ice cream as well as in the production of biofuels.
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