20110826 1009 Soy Oil & Palm Oil Related News.

Soybeans (Source: CME)
U.S. soy futures settle mixed amid a lack of fresh supportive news and overhead resistance. While traders are worried about the U.S. crop due to a dry August, demand is lackluster and at high prices analysts say the market could struggle to break higher. Analysts note $14 has been long-term resistance. Prices underpinned Thursday by a rally in the wheat market. Sep soybeans closed down 1/2c to $13.86, while 2012 contracts were higher.

Soybean Meal/Oil (Source: CME)
Sep soyoil closes down 0.18c to 55.6 cents a pound while Sep soymeal closes up $1.00 to $368 a short ton.

Palm slips for 2nd day on demand worries
KUALA LUMPUR, Aug 25 (Reuters) - Malaysian palm oil futures fell on worries over slower overseas demand after top producer Indonesia revised its export tax structure that could make its shipments cheaper and on caution over the global economy.    
"The Malaysian market fell because Indonesia has made changes that makes its own exports more competitive now," said a trader with a foreign commodities brokerage in Kuala Lumpur.

Contamination could halt India rapeseed meal exports to China
NEW DELHI, Aug 24 (Reuters) - India's rapeseed meal exports to China, which total over 450,000 tonnes per year, could halt if a "very serious" contamination of cargoes is not resolved by Sept. 17, the main trade body for Asia's leading supplier said on Wednesday.
China, which takes about half of India's rapeseed meal imports, said in June it had found traces of malachite green, a hazardous chemical, in shipments from the south Asian nation and from Malaysia.

Indonesia palm tax change won't stop flow distortions
JAKARTA, Aug 25 (Reuters) - Trimming the Indonesian palm oil export tax cap by a maximum of 5 percent, a move widely expected by market players, will do little to stop the current distortion of flow to the global market, an industry association said on Thursday.
In late July, an industry ministry official told Reuters that Indonesia may cap its maximum export tax for the edible oil to 20 percent from 25 percent.