Indonesia palm oil exports up 42.5% to 1,203,491 tonnes for the month of Nov 2011 vs Oct 2011 - Industry source.
Soybeans (Source: CME)
US soybean futures end higher, continuing to recover from prior declines as traders view the market as oversold. After dropping to 14-month lows recently, the market has found price support, with South American weather concerns, supportive influences from external financial markets encouraging traders to cover some previously established short positions, analysts say. Ability of futures to find support despite bearish supply outlooks from USDA eased the negative momentum that built up in recent weeks, analysts add. CBOT Jan soy ended up 6 1/2c at $11.18 1/2/bushel.
Soybean Meal/Oil (Source: CME)
Soy product futures ended mixed, with soymeal rising with soybeans. Soymeal was buoyed by traders unwinding short positions established in long soyoil/short soymeal spreads in recent weeks, analysts say. Soyoil drifted lower on the spread action, shunning supportive influences from rallying energy prices, analysts add. CBOT Jan soymeal end up $3.90 to $283.40/short ton; Jan soyoil finished down 0.07c at $492.50c/lb.
Palm oversold, up 1 pct,capped by Euro,stocks woes
JAKARTA, Dec 13 (Reuters) - Palm futures rose almost 1 percent, as traders cited over-selling in the previous session and firmer comparable vegetable oils, with Euro zone debt and stocks data holding back greater gains.
"The market is ok because yesterday it was a bit overdone," said a Kuala Lumpur based trader. "Soybean was not that bad last night."
China Dec soy imports seen at 5.39 mln T-Mofcom
BEIJING, Dec 13 (Reuters) - China, the world's largest soy buyer, is expected to import 5.39 million tonnes of the oilseed in December, according to the latest estimate by the commerce ministry published on Tuesday.
The figure is slightly lower than 5.7 million tonnes of actual arrival in November, but much higher than 3.81 million tonnes in October.
AgRural consultancy trims Brazil soy forecast
SAO PAULO, Dec 12 (Reuters) - Brazil soy crop will turn out 73.1 million tonnes of soy in the 2011/12 season, consultancy AgRural said on Monday, half a million tonnes less than its November view due to the smaller area it now expects to be planted.
The consultancy maintained its November forecast for average productivity at 2.94 tonnes per hectare, down from 3.12 tonnes per hectare in last year's record season. AgRural has one of the lowest estimate among local analysts for the soy crop.
Malaysia's palm oil stocks declined by 1.52% to 2.068m tonnes in November from 2.1m tonnes the previous month. Malaysian Palm Oil Board (MPOB) said month-on-month, crude palm oil (CPO) stocks in November fell by 3.3% to 1.23m tonnes while processed palm oil went up by 1.21% to 841,698 tonnes. The MPOB said the CPO output in September slipped by 14.76% mom to 1.63m tonnes from 1.91m tonnes in October. (Starbiz)
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