Soybeans (Source: CME)
US soybean and soy product futures close lower as the rising dollar and falling crude oil pressure the markets. Oil is linked to the soy complex because biodiesel is made from soyoil; the firm dollar weighs on US farm products as it makes them less attractive to foreign buyers. "If you want to look at the markets today, you really do point squarely at the dollar," says Dale Durchholz of AgriVisor. Traders wait nervously for results from EU summit on euro-zone's debt crisis. CBOT January soybeans drop 14c to $12.19 3/4/bushel.
Soybean Meal/Oil (Source: CME)
December soymeal loses $5.20 to $317 per short ton, and December soyoil drops 61c to 50.89c/pound.
Argentina & Ukraine to reshape corn export arena: Maguire
--Gavin Maguire is a Reuters market analyst. The views expressed are his own. To get his real-time views on the market, please join the Global Ags Forum. --
CHICAGO, Oct 26 (Reuters) - An unlikely pairing of Argentina and the Ukraine may come to reshape the global corn export market going forward as both countries aggressively ramp up exportable production of the crop just as the U.S.'s share of world corn exports falls to 40-year lows.
Combined exports of Argentine and Ukrainian corn are projected to make up more than a third of global corn trade in the 2011/12 crop year, which puts those countries as the most likely candidates to fill the void being left by the U.S. which will see its share of exports dwindle below 50 percent for the first time since 1970 this coming year.
Record U.S. edible oil imports expected-Oil World
HAMBURG, Oct 25 (Reuters) - U.S. vegetable oil imports are likely to touch a new record in October 2011-September 2012 as demand especially for biofuels outstrips supplies, Hamburg-based oilseeds analysts Oil World forecast on Tuesday.
U.S. 2011/12 edible oil imports will rise to 3.90 million tonnes from 3.80 million tonnes in 2010/11, Oil World forecasts.
S.American soy crop better than feared- Oil World
HAMBURG, Oct 24 (Reuters) - South American soybean harvests in early 2012 may be larger than previously expected but Argentine farmers may turn towards planting more grains, Hamburg-based oilseeds analysts Oil World said on Tuesday.
"South American soybean production may exceed expectations in early 2012," Oil World said. "Planting and growing conditions improved significantly in the last 2-3 weeks after the required rainfall had arrived in most major soybean growing areas."
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