Soybeans (Source: CME)
Soy product futures end mixed, with soyoil divorcing from the weak price theme in the rest of the soy complex. Soyoil advances were fueled by strength from crude oil futures and higher world vegoil prices, analysts say. Soymeal succumbed to weakness in soybeans, as traders look ahead to Monday's government crop forecasts.
Soybean Meal/Oil (Source: CME)
CBOT Dec soyoil rallied 0.63c, or 1.1%, to 58.67c/pound; Dec soymeal dropped $1.40 (0.4%) to $373.80/short ton.
Palm oil bounces on U.S. soy crop concerns
KUALA LUMPUR, Sept 7 (Reuters) - Malaysian palm oil futures bounced as traders bet on demand shifting to the tropical oil as U.S. soybean crop conditions deteriorate and tighten soyoil supplies.
"The pronounced declines yesterday was just a one day affair. Soyoil markets are pushing palm oil higher as its ample stocks are a contrast to tighter soyoil supply," said a trader with a foreign commodities brokerage.
Low U.S. soybean crop to cut exports -Oil World
HAMBURG, Sept 6 (Reuters) - The smaller looming U.S. soybean crop is likely to brake U.S. exports in the third quarter of 2011 with more business being won by South American suppliers, Hamburg-based oilseeds analysts Oil World forecast on Tuesday.
It has become "more likely" that this year's U.S. soybean crop will turn below the 83.2 million tonnes forecast on Aug. 11 by the U.S. Department of Agriculture which in turn was down 7.4 million tonnes on the year, Oil World said.
Ukraine soybean exports to pass 1 mln T-Oil World
HAMBURG, Sept 6 (Reuters) - Ukraine, largely known as a wheat and feed grain exporter, will also export more than 1 million tonnes of soybeans in 2011/12 following a larger soybean crop, Hamburg-based oilseeds analysts Oil World forecast on Tuesday.
This will be the first time Ukraine's soybean exports have exceeded the 1 million tonne level.
Malaysia's August palm oil stocks seen down 2.3 pct
KUALA LUMPUR, Sept 7 (Reuters) - Malaysian palm oil stocks likely dropped in August from the previous month as export and domestic demand outstripped production during a key Muslim festival, a Reuters survey of five plantation houses showed on Wednesday.
Stocks in the world's No.2 producer probably fell 2.3 percent to 1.95 million tonnes, extending declines for a second month as demand cut into supply.
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