Malaysia Jul 2011 Crude Palm Oil
- Exports seen up 3.1% at 1.63 million tonnes from Jun 2011
- Stocks seen down 2.8% at nearly 2 million tonnes from Jun 2011
- Output seen down 3% at 1.7 million tonnes from Jun 2011
Soybeans (Source: CME)
US soybean futures fell to three-week low, driven by broader base investor selling in commodities. Sharp losses in crude oil and ongoing economic worries pressured commodities today, says Karl Setzer, analyst with MaxYield Cooperative. Fear of a dramatic slowing of the US and the world economy encouraged traders to reduce risk exposure, analysts say. Further fueling declines, improved weather for crops moving through their critical reproductive phase and a shifting to demand to new crop from old crop inventories. CBOT Nov soy dropped 27 3/4c or 2% to $13.45 1/4.
Soybean Meal/Oil (Source: CME)
Soy product futures stumbled, succumbing to broad-based commodity selling pressure. Market fell in unison with soybeans, but losses in soymeal were contained by larger-than-expected weekly export sales earlier reported by USDA, analysts say. CBOT Dec soymeal end down 1.6% at $355.70/short ton; Dec soyoil dropped 2.1% to 55.87c/pound.
Palm oil slips on economic jitters, comparative oils
JAKARTA, Aug 4 (Reuters) - Malaysian palm oil futures traded lower tracking comparable vegetable oils lower on persistent global economic jitters and crude prices that flirted with one-month lows.
"We have seen a lot of bearish pressure across the board, linked to the big macroeconomic picture in the United States, plus the fact that crude is slightly cheaper," said Abah Ofon, a Singapore-based analyst at Standard Chartered Bank.
India's July oilmeal exports up 13 pct y/y-trade
NEW DELHI, Aug 4 (Reuters) - India's oilmeal exports were 272,308 tonnes in July as against 241,182 tonnes a year earlier, a leading trade body said on Thursday, helped by a jump in oilseeds output and improved demand from Southeast Asia.
Soymeal exports, which shared the bulk of sales, fell to 139,547 tonnes in July from 166,632 tonnes a year ago, the Solvent Extractors' Association of India said in a statement.
El Nino after effects slowing Asian palm output growth
KUALA LUMPUR, Aug 4 (Reuters) - Southeast Asian palm oil output growth will slow in the second half of 2011 as the impact of El Nino weather conditions from two years ago manifests with lower oil-yielding palm fruits, a leading agronomist said on Thursday.
Top oil palm growers Indonesia and Malaysia have seen more male flowers maturing this year after an El Nino-driven dry spell hit the region in mid-2009, said agronomist Ling Ah Hong with Malaysian-based consultancy Ganling.
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