20111031 1025 Soy Oil & Palm Oil Related News.

ITS CPO export up 8.5% to 1,650,415 tonnes for the period of 1~31 Oct 2011.
SGS CPO export up 11.9% to 1,684,077 tonnes for the period of 1~31 Oct 2011.

Soybeans (Source: CME)
US soy futures stumble, ending lower on poor export demand and a lack of crop worries. Gulf export basis continued to erode as sales remain weak, and traders say the lack of sales is a key negative factor. Meanwhile, "you couldn't script a better start to the growing season in South America," says Joel Karlin, Western Milling analyst. Strength in the US dollar, which had tumbled on Thursday, added to the pressure, although that didn't prevent gains in wheat and corn. CBOT Nov soybeans end down 18c, or 1.5%, to $12.17 a bushel.

Soybean Meal/Oil (Source: CME)
Soy products join in the decline. Soymeal is suffering from weak demand, and CBOT Nov. soymeal falls $6.0 to $317.5 per short ton. Nov soyoil ends down .34c to 51.77 cents/lb.

Soybeans Fall as Improving South American Crops May Cut U.S. Export Demand(Source: Bloomberg)
Soybean futures posted their biggest drop in more than a week on speculation that improving prospects for South American crops will cut demand for supplies from the U.S. Dry weather the next seven days will accelerate planting in Argentina and Brazil, the world’s biggest exporters after the U.S., and rains beginning Nov. 8 may boost early crop development, World Weather Inc. said today in a report. As of Oct. 20, export sales for the marketing year that began Sept. 1 were 33 percent smaller than a year earlier, government data show. “South American weather looks promising,” Don Roose, the president of U.S. Commodities Inc. in West Des Moines, Iowa, said in a telephone interview. “With improving crop prospects in Brazil and Argentina, people are focused on the slowing U.S. export pace.” Soybean futures for January delivery fell 1.4 percent to close at $12.26 a bushel at 1:15 p.m. on the Chicago Board of Trade, the biggest drop since Oct. 19. The slump pared this week’s gain to 0.4 percent.

Palm dips; EU debt deal checks losses
JAKARTA, Oct 28 (Reuters) - Malaysian palm oil futures eased slightly, snapping a four-day winning streak, but prices remained near a five-week high as optimism stemming from a deal to solve Europe's debt problems checked losses.
"A lot of profit taking is going on, once prices hit the 3,000 level," said a Kuala Lumpur-based trader. "The longs will have to stay cautious for the time being.