Monday, June 11, 2012

20120611 1029 Soy Oil & Palm Oil Related News.

ITS CPO export down 6.6% to 420,592 tonnes for the period of 1~10 Jun 2012.
SGS CPO export up 1% to 426,914 tonnes for the period of 1~10 Jun 2012.

MPOB Official Data for the month of May 2012 vs Apr 2012
Exports up 4.8% to 1.4 million tonnes
Stocks down 4.5% to 1.76 million tonnes
Output up 8.7% to 1.38 million tonnes

Soybean Complex Market Recap (Source: CME)
July Soybeans finished down 3 at 1425, 14 off the high and 16 3/4 up from the low. November Soybeans closed down 12 1/4 at 1329. This was 14 up from the low and 11 1/2 off the high. July Soymeal closed up 3.6 at 429.1. This was 7.4 up from the low and 4.8 off the high. July Soybean Oil finished down 0.97 at 49.42, 0.92 off the high and 0.12 up from the low. The market saw a strong recovery from the overnight lows to the mid-session highs but November could not trade higher on the day and July slipped well off of the mid-session highs of 10 higher on the day to close lower. November was 9 1/2 cents lower late. News of more demand from China, less than expected pressure from outside market forces and a somewhat threatening forecast for the next few weeks helped to support. While traders see rain for Monday to Wednesday of next week, the coverage and amounts were reduced slightly overnight but mid-day models saw fairly decent coverage of 3/4 inches or more for the Midwest and this helped pressure late. The "much above" normal temperatures and below normal precipitation for much of the Midwest in the 11-15 day forecast models helped to provide underlying support. The USDA reported export sales of 410,000 tonnes of US soybeans to China with 60,000 on the total for old crop. In addition, Egypt was a buyer of 120,000 tonnes of US soybeans for the 2011/12 season. A surge in the US dollar and weakness in the equity markets helped to pressure overnight but into the mid-session, the US stock market turned higher on the day and this helped support the strong recovery off of the overnight lows. Strength in corn added to the positive tone but there was still profit-taking for November soybeans late to pressure.

VEGOILS-Palm oil drops as global uncertainty weighs
SINGAPORE, June 8 (Reuters) - Malaysian palm oil futures slipped, reflecting fears of a slowing commodity demand as investors looking for clear signals of further U.S. monetary stimulus were left disappointed.
"Market sentiment is still uncertain, and the palm market is tracking external factors, like what happened in Europe and China," said a trader with a foreign commodities brokerage in Malaysia.

India soybean acreage seen up 7 pct in 2012/13 -industry
MUMBAI, June 8 (Reuters) - India's soybean acreage is likely to rise by 7 percent in 2012/13 as record high prices for the oilseed prompt farmers to plant more, an industry official said on Friday, which could potentially lower edible imports and boost oilmeal exports.
Lower imports by India, the world's top buyer of edible oil, would weigh on Chicago soybean prices , which are on track to end this week with their biggest gain since October, supported by tight supplies and strong demand from China.

Palm oil and in particular palm kernel oil are essential feedstocks for the oleochemical industry which, in turn, provide critical raw materials such as fatty acids in fatty alcohols for the production of surfactants globally. Neil A Burns LLC managing partner Neil Burns says these surfactants are used in consumer products such as laundry detergents, shampoos, soaps and many other household, industrial, institutional and personal cleaning products. “In recent years, demand for these lauric oils has increased markedly and there has been substantial volatility in pricing, contributing in part to a re-arrangement and re-structuring of the oleochemicals and surfactants industries, which is still continuing,” he said. He added that currently, the surfactant industry is worth US$25bn to US$35bn (RM76.8bn to RM107.5bn) annually where 65% to 75% of the usage is in consumer cleaning such as detergents and cleaners, cosmetic and personal care products. (Starbiz)

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