20120410 1056 Soy Oil & Palm Oil Related News.

SGS CPO export up 8.9% to 488,758 tonnes for the period of 1~10 Apr 2012.
ITS CPO export up 7.8% to 478,948 tonnes for the period of 1~10 Apr 2012.


MPOB Official Data for the month of Mar 2012 vs Feb 2012
Exports up 10.84% to 1,342,650 tonnes
Stocks down 5% to 1,959,240 tonnes
Output up 2.13% to 1,211,244 tonnes


Soybeans - Futures closed 1 1/2 to 3 1/4 cents lower in the May through September contracts. New-crop futures finished mixed, with the November contract 1/2 cent higher. Soybean traders were focused on evening positions ahead of tomorrow morning's Supply & Demand Report from USDA. That kept price action choppy with a downside bias throughout much of the session as traders put some profits in the bank. But selling interest was limited as traders expect USDA to lower its old-crop carryover projection by 29 million bu., based on the average guess. (Source: CME)

Soybean Complex Market Recap (Source: CME)
Mon 09 Apr 2012 14:18:01 CT
May Soybeans finished down 3 at 1431, 15 3/4 off the high and 7 1/2 up from the low. July Soybeans closed down 3 at 1434 3/4. This was 6 1/2 up from the low and 16 1/4 off the high. May Soymeal closed down 3.1 at 388.8. This was 1.5 up from the low and 6.9 off the high. May Soybean Oil finished up 0.07 at 56.71, 0.47 off the high and 0.23 up from the low. After making a minor new high for the move early today, the May soybean market fell back in what many suggested was a profit taking or position balancing reaction ahead of the coming USDA report. The November soybeans forged an even wider range today, suggesting that the difference in opinion between old and new crop soybean markets remains rather significant. US soybean export inspections were seen at 26.39 million bushels from 29.5 million last week and that compares to estimates of 24 to 28 million. Perhaps the soybean market was also seeing some pressure from the prospect of precipitation in the southern US for later this week. As in other physical commodity markets, weakness in equities and adverse currency market action could have been an excuse to bank some long profits in soybeans ahead of a critical junction on Tuesday. While USDA report later in the year might take on more importance than the Tuesday report, the markets are still on edge because of the fear of tightening balance sheets.

As Supply Dwindles, Surging Soybean Market Poised to Steal Spotlight from King Corn  (Source: CME)
Mon Apr 09 11:51:00 CDT 2012 CT
More Upside Price Potential for Soybeans
For over a year, corn has reigned as unofficial king of agricultural commodity futures markets, dominating headlines and drawing a flood of speculator money amid record-high prices and concern over dwindling global supplies. More recently, soybeans, the second biggest and most valuable U.S. crop after corn, appear poised to grab the spotlight as another growing season gets underway. Soybean futures traded on CME Group have surged nearly 30 percent since mid-December, reflecting hot and dry weather that hurt crops in Argentina and Brazil. Corn futures rose about 14 percent during that period.

VEGOILS-Palm oil hits new 13-month top on lower stocks view
SINGAPORE, April 9 (Reuters) - Malaysian palm oil futures rose to a fresh 13-month high buoyed by expectations of lower stocks that come as demand shifts away from tightening South American soyoil supply.
"The market's reflective of tomorrow's series of data release. It's buying hype while technical is also bullish," said a dealer with a foreign commodities brokerage in Malaysia.

South Africa soybean area seen up 6 pct
April 5 (Reuters) - Following are selected highlights from a report issued by a U.S. Department of Agriculture attache in South Africa:  "With the increase in local demand for soybeans due to the building of new crushing plants, post expects that the area to be planted with soybeans in the 2012/13 MY will increase by 6 percent to 500,000 hectares, which could produce a soybean crop of 835,000 tonnes - 22 percent more than in the 2011/12 MY.
Although unfavorable weather conditions impacted negatively all the summer rainfall crops, soybean production for the 2011/12 MY is expected to be at the same level as the previous season due to an increase in plantings. With an increase in crushing capacity, it is expected that South Africa will crush a record 400,000 tonnes of soybean in the 2011/12 MY, and will almost double that to 750,000 tonnes in the 2012/13 MY.

Philippines soybean meal imports to fall
April 5 (Reuters) - Following are selected highlights from a report issued by a U.S. Department of Agriculture attache in the Philippines:
"The Philippines was the 3rd largest market for U.S. soybean meal and the world's largest coconut oil exporter in both 2010 and 2011. Continued economic growth and an expanding middle class drove imports of SBM to 1.72 million tonnes in 2011. Though consumption will likely continue growing modestly, imports in 2012 are expected to slightly decline to 1.6 million tonnes due to adequate stocks, before increasing to 1.7 million tonnes in 2013."

Malaysia's March palm stocks likely fell to 7-month low
SINGAPORE, April 6 (Reuters) - Malaysia's March palm oil stocks probably fell to a 7-month low in March, as an increase in exports outpaced production growth, a Reuters survey showed on Friday.
Stocks may have dropped 3.5 percent to 1.99 million tonnes in March -- the lowest since August 2011 -- as stronger demand from Europe eats in stocks, a median survey of five plantation houses showed.