MPOB Official Data for the month of Jun 2011 vs May 2011
Export up 12.44%
Stock up 6.75%
Output up 0.65%
ITS CPO export up 1.34% to 440,316 tonnes for the period of 1~10 Jul 2011.
SGS CPO export down 3.3% to 398,280 tonnes for the period of 1~10 Jul 2011.
Soybeans (Source: CME)
US soybean futures end higher, driven by spillover support from rallying corn futures and concerns hot Midwest weather could threaten yields later in the summer. The market added risk premium amid the uncertainties of acreage and production, and with neighboring grain markets rallying, traders were skeptical to selling ahead of the weekend, analysts said. CBOT Nov soy end up 8 3/4c at $13.46 1/2.
Soybean Meal/Oil (Source: CME)
Soy product futures end mixed, with soymeal following the higher price action in soybean futures. Soyoil futures stumbled, sliding on the negative influence of sharply lower crude oil futures, analysts say. Weakness in crude oil adds pressure as biodiesel is made from soyoil. CBOT Dec soymeal end up $4.90 at $350.00/short ton, and Dec soyoil finish down 0.32c at 57.31 cents/pound.
Palm oil rises as comparative oils support, data eyed
JAKARTA, July 8 (Reuters) - Malaysian palm oil futures touched the highest level since the end of June, boosted by technical buying and higher prices for comparative oils ahead of industry data from No. 2 producer Malaysia next week.
"There is some technical inspired buying," said one Malaysia-based trader, citing a jump in crude oil prices on Thursday.
Argentina May soy crushing down 3.9 pct year/year
BUENOS AIRES, July 7 (Reuters) - Argentine soy-crushing fell 3.9 percent in May versus May 2010 to 4 million tonnes following a record 2009/10 crop and healthy yields collected so far in the 2010/11 harvest, the government said on Thursday.
Argentina is the world's top supplier of soyoil and soymeal and the third-biggest exporter of unprocessed beans.
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