20110824 1023 Soy Oil & Palm Oil Related News.

Soybeans
U.S. soybean futures end higher on crop concerns and outside market support. Monday's U.S. crop progress report, which showed the portion of the crop rated good/excellent fell 2 percentage points, was supportive, as traders worry that dry weather is hurting yield potential. Rains overnight in Iowa and Minnesota, as well as storms in parts of Illinois Tuesday, could give the crop a boost, however, traders say. CBOT Sep soybeans end up 13 cents to $13.89 1/2 per bushel.

Soybean Meal/Oil
Sep soymeal up 5.60 to $368.30 per short ton and Sep soyoil up 0.02c to 55.62 cents per pound.

Palm hits 1-week high on firm commods, equities
KUALA LUMPUR, Aug 23 (Reuters) - Malaysian palm oil futures hit a one-week high on firmer commodity and equity markets, although uncertainties in global economic outlook continue to weigh on sentiment.
"Stocks stabilised in early Asia hours, which with strong soyoil, soybean and crude oil markets have pulled palm oil higher," said a trader with foreign brokerage in Kuala Lumpur.