20120828 0913 Soy Oil & Palm Oil Related News.

SGS CPO export up 3.9% to 768,555 tonnes for the period of 1~20 Aug 2012.
SGS CPO export up 6.6% to 986,829 tonnes for the period of 1~25 Aug 2012.


Pro Farmer: After the Bell Soybean Recap(CME)
Soybeans rose to contract highs this morning, but this was followed by a round of profit-taking. Bears maintained the upper hand into the close and futures ended 2 3/4 to 13 cents lower, with nearbys leading to the downside. Soyoil and soymeal faced spillover pressure. Early support for soybeans stemmed from Pro Farmer's production estimate of 2.6 billion bu., which emphasized the need for supply rationing.

Soybean Complex Market Recap(CME)
November Soybeans finished down 12 3/4 at 1718 3/4, 41 3/4 off the high and 4 3/4 up from the low. January Soybeans closed down 13 at 1711 1/4. This was 5 3/4 up from the low and 41 1/4 off the high. December Soymeal closed down 4.1 at 518.7. This was 3.4 up from the low and 13.2 off the high. December Soybean Oil finished down 0.34 at 56.56, 1.29 off the high and 0.07 up from the low.
November soybeans traded lower into the close after posting a new high for the move overnight. Soybean meal and oil traded lower as well. The soybean market had a positive tone this morning after gapping higher overnight but technical sell pressure and unwinding of calendar spreads took over soon thereafter. Tropical Storm Isaac has entered the Gulf of Mexico and the storm could push as far north as Arkansas, Western Tennessee, Missouri, and Illinois. High winds and heavy rainfall could have a negative impact on maturing row crops but could aid Mississippi water levels in the short term. The 6-10 day forecast calls for a return of above normal temperatures and below normal rainfall for the central US. Spot soybean basis at various Iowa elevators fell today as farmer sales have picked up since last week. This added pressure to calendar spreads. Export inspections for the week ending August 27th were reported at 17.40 million bushels vs. 21.43 the week prior. The current inspection pace for 2011/12 now exceeds the pace needed to reach the USDA estimate. The 5 year average at this time of the crop year is 98%. Outside markets offered limited direction with the US Dollar steady on the day and US stocks slightly higher.

Refiners to pay less for palm in Malaysia's top producing state -paper (Reuters)
Refiners in Malaysia's top oil palm growing state of Sabah will pay millers less for edible oil from next month to preserve margins and better compete with Indonesia, the Business Times reported on Monday, in a move likely to hit planters' revenues.

EDIBLES: Malaysian crude palm oil futures rose to a 6-week high, as traders continued to bet on tight global edible oil supplies with no sign of the drought easing in the soy-producing U.S. Midwest. (Reuters)