HAMBURG, April 21 - Global oilseed, edible oil and oil meal prices are susceptible to price falls following their recent strength, Hamburg-based oilseeds analysts Oil World said on Tuesday.
In the near term, the sector will face selling by investment funds and speculators, it said.
Wednesday, April 22, 2009
India soyoil futures edge up; Malaysian palm weighs
MUMBAI, April 21 - Indian soyoil futures erased early losses and edged up on Tuesday afternoon on expectations of a supply squeeze after an expected fall in soybean output in Argentina, a leading producer and exporter, analysts said. However, weak Malaysian palm oil weighed on the markets.
RTRS-GRAINS-US soybeans up on China buying. Argentine woes
CHICAGO, April 21 - U.S. soybean futures rose on Tuesday as China kept buying the oilseed and reports persisted of low yields in Argentina's harvest.
"There is momentum from continued Chinese buying and they keep lowering the Argentine crop," said Mario Balletto, analyst for Citigroup.
"There is momentum from continued Chinese buying and they keep lowering the Argentine crop," said Mario Balletto, analyst for Citigroup.
Trader's Highlight
DJI - NEW YORK, April 21 - U.S. stocks rose on Tuesday after Treasury Secretary Timothy Geithner indicated most banks have sufficient reserves to protect against possible losses, sparking a rebound in bank shares.
The Dow Jones industrial average rose 127.83 points, or 1.63 percent, to 7,969.56. The Standard & Poor's 500 Index <.SPX> gained 17.69 points, or 2.13 percent, to 850.08. The Nasdaq Composite Index was up 35.64 points, or 2.22 percent, at 1,643.85.
NYMEX - NEW YORK, April 21 - U.S. crude oil futures settled higher on Tuesday, lifted by a bounce on Wall Street and amid volatility associated with the expiration of the May crude contract at the close.
Crude rose after falling more than $2 earlier as uncertainty about a quick economic recovery and bank stability that pressured global equities pushed oil lower.
On the New York Mercantile Exchange, May crude expired and settled up 63 cents, or 1.37 percent, at $46.51 a barrel, trading from $43.83 to $47.20.
CBOT - SOYBEANS - May up 19-1/2 cents at $10.38 per bushel.
Continued active buying of soy by China and low soy yields in the South American harvest supporting soy futures in addition to support from a short-covering bounce after the sharp decline of futures on Monday.
CBOT - SOYOIL - May up 0.68 cent at 36.13 cents per lb.
Following soybeans and short-covering after the sharp decline of prices on Monday.
FCPO - JAKARTA, April 21 - Malaysian palm futures closed slightly lower on Tuesday, recouping most of the early losses thanks to late buying on concerns about tight supplies, traders said.
The market came under pressure in early trade as the crude oil price, which normally has an influence on palm oil prices, had fallen 9 percent the previous day.
Traders said the palm oil market was holding up well by late afternoon on short-covering.
The benchmark July contract on the Bursa Malaysia Derivatives Exchange fell 11 ringgit, or 0.5 percent, to 2,435 ringgit ($668.59), after dropping as low as 2,377 ringgit.
REGIONAL EQUITIES - BANGKOK, April 21 - Southeast Asian stock markets were generally weak on Tuesday, hurt by renewed worries about the health of the U.S. financial system, but Singapore and Thailand recovered a little to end in positive territory.
A big increase in troubled loans at the largest U.S. bank, Bank of America, raised concern about the pace of any economic recovery, snapping a recent rally in equities worldwide.
Indonesia's main index, which rose 11.5 percent last week, fell nearly 2 percent, while Malaysia snapped a five-day winning streak, ending down 0.18 percent.
The Dow Jones industrial average rose 127.83 points, or 1.63 percent, to 7,969.56. The Standard & Poor's 500 Index <.SPX> gained 17.69 points, or 2.13 percent, to 850.08. The Nasdaq Composite Index was up 35.64 points, or 2.22 percent, at 1,643.85.
NYMEX - NEW YORK, April 21 - U.S. crude oil futures settled higher on Tuesday, lifted by a bounce on Wall Street and amid volatility associated with the expiration of the May crude contract at the close.
Crude rose after falling more than $2 earlier as uncertainty about a quick economic recovery and bank stability that pressured global equities pushed oil lower.
On the New York Mercantile Exchange, May crude expired and settled up 63 cents, or 1.37 percent, at $46.51 a barrel, trading from $43.83 to $47.20.
CBOT - SOYBEANS - May up 19-1/2 cents at $10.38 per bushel.
Continued active buying of soy by China and low soy yields in the South American harvest supporting soy futures in addition to support from a short-covering bounce after the sharp decline of futures on Monday.
CBOT - SOYOIL - May up 0.68 cent at 36.13 cents per lb.
Following soybeans and short-covering after the sharp decline of prices on Monday.
FCPO - JAKARTA, April 21 - Malaysian palm futures closed slightly lower on Tuesday, recouping most of the early losses thanks to late buying on concerns about tight supplies, traders said.
The market came under pressure in early trade as the crude oil price, which normally has an influence on palm oil prices, had fallen 9 percent the previous day.
Traders said the palm oil market was holding up well by late afternoon on short-covering.
The benchmark July contract on the Bursa Malaysia Derivatives Exchange fell 11 ringgit, or 0.5 percent, to 2,435 ringgit ($668.59), after dropping as low as 2,377 ringgit.
REGIONAL EQUITIES - BANGKOK, April 21 - Southeast Asian stock markets were generally weak on Tuesday, hurt by renewed worries about the health of the U.S. financial system, but Singapore and Thailand recovered a little to end in positive territory.
A big increase in troubled loans at the largest U.S. bank, Bank of America, raised concern about the pace of any economic recovery, snapping a recent rally in equities worldwide.
Indonesia's main index, which rose 11.5 percent last week, fell nearly 2 percent, while Malaysia snapped a five-day winning streak, ending down 0.18 percent.
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