ITS CPO export down 14.8% to 1,234,603 tonnes for the period of 1~31 Jul 2012.
SGS CPO export down 18.5% to 1,193,227 tonnes for the period of 1~31 Jul 2012.
Pro Farmer: After the Bell Soybean Recap (source:CME)
Soybean futures finished mostly 35 to 45 1/2 cents higher today, which was just slightly off session highs. Weekend rains were disappointing as coverage was spotty and amounts were lighter than hoped for across the Corn Belt. Additionally, the forecast offers very little hope of meaningful relief during the first half of August. As a result, traders actively built premium into the market amid concerns crop prospects will continue to fade.
Soybean Complex Market Recap(source:CME)
August Soybeans finished up 41 1/2 at 1725 3/4, 1 1/2 off the high and 27 up from the low. November Soybeans closed up 41 3/4 at 1643 1/2. This was 26 up from the low and 4 1/2 off the high. August Soymeal closed up 18.6 at 546.3. This was 14.3 up from the low and 0.7 off the high. August Soybean Oil finished up 0.53 at 52.57, 0.34 off the high and 0.35 up from the low. November soybeans traded sharply higher into the close as traders fear the warmer and drier weather outlook this week will reduce soybean yield potential further. Updated crop condition ratings will be released this afternoon and the trade expects a 2% decline in soybean good/excellent ratings. Crop scouts remain optimistic on the soybean production in the eastern Corn Belt after good rainfall last week. However, rainfall this week is expected to be limited and 95-100 degree temperatures are expected to move back into the central Midwest this week. Restricted showers will be seen in the northern Delta which could stress soybean crops further. This is offering support to the soybean market today. Soybean meal traded $18 higher and soybean oil was up 60 near the closing bell. Export inspections for the week ending July 26th totaled 15.49 million bushels vs. 15.75 for the week prior. Weekly export inspections continue to outperform the pace needed to reach the USDA estimate for this marketing year. Inspections needed each week total 10.92 million bushels. Weekly inspections are now 95.7% of the USDA estimate vs. the 5 year average of 94.7%. Outside markets offered minimal resistance to soybean prices today as the US Dollar mostly traded higher and US Stocks were generally weaker throughout the day.
VEGOILS-Palm oil rises to 1-week high on stimulus hopes
SINGAPORE, July 30 (Reuters) - Malaysian crude palm oil edged to a one-week high tracking gains in broader financial markets on expectations the Federal Reserve and European Central Bank (ECB) will announce new measures to encourage growth, boosting commodity demand.
"Euro zone worries have eased a little and rain that was anticipated in U.S. did not match expectations," said a Singapore-based trader with a foreign commodities house. "But we will have to wait and see tonight's USDA crop progress report for price direction."
No comments:
Post a Comment