SGS CPO export down 1.9% to 1,034,849 tonnes for the period of 1~25 Apr 2012.
ITS CPO export down 2.9% to 1,037,083 tonnes for the period of 1~25 Apr 2012.
Palm oil weighed by euro zone woes; exports eyed (Source: CME)
Malaysian palm oil futures extended losses, as investors feared that the euro zone debt woes could hurt global growth, although losses were limited by a healthy demand outlook for the edible oil on the back of lower soybean supply. "I think the main reason the market's down is the Europe economic situation. The Dow Jones Indices also dropped about 100 points, and that should affect the overall sentiment," said Alan Lim, research analyst with Malaysia's Kenanga Investment Bank.
VEGOILS-Palm oil weighed by euro zone woes; exports eyed
SINGAPORE, April 24 (Reuters) - Malaysian palm oil futures extended losses, as investors feared that the euro zone debt woes could hurt global growth, although losses were limited by a healthy demand outlook for the edible oil on the back of lower soybean supply.
"I think the main reason the market's down is the Europe economic situation. The Dow Jones Indices also dropped about 100 points, and that should affect the overall sentiment," said Alan Lim, research analyst with Malaysia's Kenanga Investment Bank.
Brazil's April soy exports seen topping March's
SAO PAULO, April 23 (Reuters) - Brazil's soybean exports are likely to climb in April from March, with harvesting of the oilseed in the world's No. 2 grower now nearing completion, according to port shipping schedules and comments from analysts.
Exports are likely to reach around 5 million tonnes this month, an increase of about 1 million tonnes over March, according to the shipping line-up detailing quantities of soy vessels will load. That is roughly the same as in April 2011.
Market Recap: Soybean Futures (Source: CME)
Soybean futures settled in the upper region of today’s trading range with May through August futures 24 cents higher, September up 17 cents and new-crop futures 7 to 9 1/4 cents higher. Traders viewed yesterday’s price break as a bargain buying opportunity today as euro-zone concerns quieted and the dollar softened. Also helping to propel bean’s run higher was concern about a frost/freeze event in Argentina, which could further diminish the region’s soybean crop.
Soybean Complex Market Recap (Source: CME)
July Soybeans finished up 24 at 1465, 6 1/4 off the high and 27 1/4 up from the low. November Soybeans closed up 10 1/2 at 1352. This was 12 up from the low and 4 off the high. July Soymeal closed up 12.3 at 415.7. This was 12.3 up from the low and 1.2 off the high. July Soybean Oil finished up 0.2 at 55.69, 0.26 off the high and 0.15 up from the low. July soybeans closed sharply higher on the session and managed to push to a new contract high. July soybeans are now up as much as 61 3/4 cents from last week's lows. More talk of a smaller South America crop due to lower production estimates from key forecasters and concerns that Argentina could slow the crush pace ahead helped support strong gains in soybeans and meal early in the session today. News of potential frost damage to the Buenos Aires region in Argentina last night with lows down to 26 degrees added to the positive tone. Talk that meal offers from Argentina for August and beyond are difficult to come by helped to support. May meal surged higher and led the rally in the complex with nearby meal pushing to the highest level since July of 2009. Stats Canada pegged canola planted area at 20.4 million acres which was slightly below trade expectations but up 8% from last year. Late weakness in the other grain helped pull the market off of the highs into the close.
Brazil gov't says not halting or slowing soy exports (Source: CME)
Brazil's government has no plans to either halt or slow exports of soy, its single most valuable agricultural export, the agriculture ministry said on Friday after such rumors sent Chicago soybean futures to a 7-1/2 month high.
Brazil's April soy exports seen topping March's (Source: CME)
Brazil's soybean exports are likely to climb in April from March, with harvesting of the oilseed in the world's No. 2 grower now nearing completion, according to port shipping schedules and comments from analysts.
Exports are likely to reach around 5 million tonnes this month, an increase of about 1 million tonnes over March, according to the shipping line-up detailing quantities of soy vessels will load. That is roughly the same as in April 2011.
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