ITS CPO export down 14% to 509,107 tonnes for the period of 1~15 Feb 2012.
SGS CPO export down 14.2% to 494,298 tonnes for the period of 1~15 Feb 2012.
Soybeans (Source: CME)
US soybean futures end mostly higher, with old crop contracts rallying to nearly four-month highs. Soybean futures rose for the third consecutive trading day, fueled by worries about hot, dry conditions in southern Brazil leading to lower crop yields, analysts say. Smaller South American crops seen boosting importers interest in securing US soy exports. Strong export demand added to the positive theme, with USDA reporting new sales to unknown destinations today. However, new crop futures drifted lower after gaining sharply against corn recently, as traders viewed the rise in prices adequately reflected a level that will limit additional acreage losses. CBOT March soybeans ended up 3c to $12.55/bushel; Nov soybeans dropped 1 1/2c to $12.57 1/2.
Soybean Meal/Oil (Source: CME)
Soy product futures drift lower, succumbing to profit-taking after yesterday's sharp gains. Strength in the US dollar produced general weakness in commodities, with slower demand limiting the products ability to continue climbing with soybeans, analysts say. CBOT March soymeal ended down $0.40 at $330.10/short ton, and March soyoil ended down 0.03c to 53.02c/lb.
Palm oil hits 3-wk high on S. America weather fears
SINGAPORE, Feb 14 (Reuters) - Malaysian crude palm oil futures rose to a near three-week high tracking a rally in U.S. soybeans to four-month highs on investor concern that hot, dry weather in South America could hurt production.
"External factors are still uncertain and we will have to look at export numbers to see if the market will breach 3,200 ringgit," said a trader with a foreign commodities brokerage in Kuala Lumpur, referring to Malaysian export data for Feb. 1-15 which will be released on Wednesday.
No comments:
Post a Comment