ITS CPO export down 1.8% to 357,372 tonnes for the period of 1~10 Aug 2012.
SGS CPO export up 6.8% to 354,614 tonnes for the period of 1~10 Aug 2012.
MPOB Official Data for the month of Jul 2012 vs Jun 2012
Exports down 15.3% to 1.3 million tonnes
Stocks up 17.6% to 2 million tonnes
Output up 15.05% to 1.69 million tonnes
Pro Farmer: After the Bell Soybean Recap (Source:CME)
Soybean futures extended gains as the day progressed and ended 42 3/4 to 64 1/2 cents higher in the August through January contracts. Deferred month contracts saw gains mostly in the teens to 20s. Soymeal and soyoil closed with strong gains. As traders readied for USDA reports that are expected to confirm tight old- and new-crop supplies, they reevaluated if prices have achieved sufficient supply rationing.
Soybean Complex Market Recap (Source:CME)
August Soybeans finished up 64 1/2 at 1694 1/2, 1/2 off the high and 60 3/4 up from the low. November Soybeans closed up 50 at 1631 1/4. This was 54 3/4 up from the low and 1 3/4 off the high. August Soymeal closed up 16.8 at 538.7. This was 18.7 up from the low and 2.4 off the high. August Soybean Oil finished up 0.81 at 52.39, equal to the high and 0.85 up from the low. November soybeans traded sharply higher into the close ahead of the USDA report tomorrow. August soybeans settled just under 1700. The trade expects the USDA to cut the average US soybean yield to near 37 bushels/acre in tomorrow's USDA report. The weather forecast looks slightly better to finish this week and into next week with scattered showers in the central and eastern Midwest. Temperatures are expected to cool but the western and southwestern Midwest could remain warmer and drier next week adding stress to soybeans setting pods. Soybeans bounced this morning after it was reported that US exporters sold 165,000 tonnes of US Soybeans to China overnight. Exports sales were supportive this morning despite coming in just shy of market expectations. Total net weekly export sales for the week ending August 2nd came in at 300,400 tonnes. This was slightly lower than market expectations but sales remain well ahead of the USDA pace. Soybean sales totaled 211,700 tonnes and meal sales are expected to accelerate in the 4th quarter as South American supplies deteriorate. Finally, total oil sales came in at 12,900 tonnes.
VEGOILS-Palm oil edges up ahead of industry data
SINGAPORE, Aug 9 (Reuters) - Malaysian crude palm oil futures bounced from a near 8-week low hit the previous day, although traders remained cautious ahead of a slew of key industry reports that could stir more market volatility.
"(Palm oil) futures are a little bit oversold so we are expecting some technical pullback. But upside potential is very limited as long as Malaysian stocks remain on the high side," said a trader with a local commodities brokerage in Malaysia.
Brazil meat producers want to import Bolivian soy-sources
SAO PAULO, Aug 8 (Reuters) - Meat producers in Brazil's Mato Grosso do Sul state are lobbying the government to approve soy imports from neighboring Bolivia after drought shrank supplies in the world's No. 2 grower, a local official and analysts said on Wednesday.
Farmers want some 300,000 tonnes of Bolivian soybeans to feed their livestock, mostly pigs, a sign that Brazil, the world's top exporter of beef and poultry and growing exporter of pork, suffers from a lack of agricultural planning.
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