Reuters Survey :
Malaysia Feb 2012 Crude Palm Oil
- Exports seen down 9.5% at 1.25 million tonnes from Jan 2012
- Stocks seen down 3% at 1.95 million tonnes from Jan 2012
- Output seen down 9.1% at 1.17 million tonnes from Jan 2012
Soybeans (Source: CME)
US soybean futures end higher, boosted by export demand, including from China, and expectations for a smaller South American crop due to drought. Analysts expect a USDA report due Friday to cut forecasts for the soy crops in Brazil and Argentina, adding to demand for U.S. exports and tightening inventories. Soy also supported by Brazilian federal crop-forecasting agency Conab on Thursday trimming its outlook for Brazil's 2011-12 soybean crop. CBOT May soybeans end up 11 3/4c at $13.38 1/2 a bushel.
Soybean Meal/Oil (Source: CME)
May soybean oil ends up 0.41c to 53.39c/lb., while May soybean meal ends up $2.70 to $367.20 a short ton.
Palm oil extends gains on Greece hopes, US data
KUALA LUMPUR, March 8 (Reuters) - Malaysian crude palm oil futures extended gains on Thursday as investor sentiment brightened on hopes Greece would secure a debt swap deal to avoid a messy default, while promising U.S. jobs data also supported prices.
"The bullish price forecast helps to lift futures, right now I don't think there are other major factors," said James Ratnam, an analyst with TA Securities in Malaysia.
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