Malaysia's 2012 Palm Oil Output up on estates coming into maturity, impact from replanting 2-3 years ago - MPOB Official
Soybeans (Source: CME)
US soybean futures are little changed, managing to recover from early declines on traders unwinding corn/soy spreads. South American weather remains the dominant issue for grain markets. With rains alleviating some near term crop threats in Argentina, traders reduced risk exposure in corn while remaining concerned about soy crops, said AgResource's Dan Basse. The impact of weather on soybean yields is greater at this point than corn, and a shift back to hot, dry conditions could cut soy yields as they move through their critical development phase, Basse adds. CBOT March soybeans ended unchanged at $11.83 1/2/bushel, while March corn dropped nearly 2%.
Soybean Meal/Oil (Source: CME)
Soy-product futures end mixed as soyoil slid on spillover weakness from crude and slowing demand from the biodiesel industry. But soymeal bounced from early weakness in unison with soybeans. Traders bought meal against oil on spreads amid optimism for increased livestock-feed demand moving forward, analysts say. CBOT March soyoil dropped 0.37c to 50.40c/pound while March soymeal ended up $1.50 at $312/short ton.
Average palm prices to fall in 2012 after 3 years of gains
KUALA LUMPUR, Jan 18 (Reuters) - Average palm oil prices are set to decline in 2012 for the first time in three years, squeezed by ample supply from Southeast Asia and faltering demand as global growth weakens because of Europe's debt crisis.
A median poll of 25 analysts tracking top palm oil producers Indonesia and Malaysia showed 2012 price expectations for the tropical oil stood at a median 3,000 ringgit ($960) per tonne, unchanged from a survey conducted in July.
Palm oil dips in thin trade on Europe woes
SINGAPORE, Jan 18 (Reuters) - Malaysian crude palm oil futures eased as lingering European debt worries overshadowed expectations that erratic weather in south America and southeast Asia could limit edible oil supply.
"For the next two days, things will slow down as the long weekend is coming and traders will be off. We can look forward to some position squaring," said a trader with a foreign commodities brokerage in Malaysia, referring to the Lunar New Year holidays next week.
Heavy rains relieve Brazil's parched No. 2 soy state
SAO PAULO, Jan 17 (Reuters) - For the next 10 days heavy rains will lash Parana, Brazil's No. 2 soybean growing state, soaking crops badly in need of moisture after a long drought, forecasters predicted Tuesday, but no rain was headed for dry Rio Grande do Sul.
Parana, a southern state, bore the brunt of a prolonged dry spell in what is usually a wet summer season due to the La Nina weather anomaly, which the U.S. Climate Prediction Center has said could last until May.
China's soybean imports to rise again- Oil World
HAMBURG, Jan 17 (Reuters) - China, the world's largest soybean buyer, is likely to raise soybean imports up to July 2012 after recent falls but large port inventories could hinder purchasing in the immediate future, Hamburg-based oilseeds analysts Oil World said on Tuesday.
The United States, Brazil and Argentina together exported 19.3 million tonnes of soybeans to China in Sept./Dec. 2011, up 1.1 million tonnes or 6 percent on the year, Oil World estimates.
No comments:
Post a Comment