20120214 0940 Soy Oil & Palm Oil Related News.

Soybeans (Source: CME)
US soybean futures end at their highest point in nearly four months, as lower dollar sparked buying across commodities from crude oil to grains. Buyers also encouraged by threat of stressful weather returning to southern Brazil, analysts say, which may threaten crops and spur US export demand. Technical buying accelerated the advances down the stretch, with bullish traders excited by March soybeans ability to push above chart resistance at the $12.50 level, analysts add. New crop contracts rallied against corn, as traders push prices in an attempt encourage farmers to plant soybeans. CBOT March soy ended up 23c or 1.9% at $12.52/bushel.

Soybean Meal/Oil (Source: CME)
US soy product futures rallied with soybean futures. Soymeal futures led the advances, as the threat of stressful weather returning to southern Brazil, raise hopes for US export demand, analysts say. Soyoil ended higher, lost value to soymeal in the crush spread on slower exports. CBOT March soymeal ended up $10.50 or 3.3% to $330.50/short ton, and March soyoil finished up 0.52c to 53.05c/lb.

Palm oil gains as Greece passes austerity bill
SINGAPORE, Feb 13 (Reuters) - Malaysian crude palm oil futures gained after Greece passed an unpopular austerity bill, inching closer to securing a bailout deal that could help avoid a messy default.
"Traders are watchful of the weakness in the cash crude palm oil prices that could morph into a broader relapse given the fact that we are approching higher production month," said a trader with a local commodities brokerage in Kuala Lumpur.

Ukraine sees record sunoil exports in 11/12
KIEV, Feb 10 (Reuters) - Ukraine, the world's largest exporter of sunflower oil, plans to boost its sunoil exports by about 19 percent to a record 3.1 million tonnes in the 2011/12 season, the head of Ukrainian sunoil producers' union said on Friday.
Stepan Kapshuk told Reuters a rise in the 2011 sunflower seed harvest to about 9 million tonnes would allow Ukraine to produce 3.5 million tonnes of sunoil this season.