JAKARTA, Feb 2 (Reuters) - Indonesia, the world's top palm oil producer, hopes to sign a preferential tariff agreement with Pakistan this year to boost exports of the tropical oil, an agriculture ministry official said on Tuesday.
The key issue in the talks is Indonesia's request for the import duty charged by Pakistan on palm oil to be reduced to the same level as for products from Malaysia, ensuring equal treatment of the top two producers when output is ample.
Wednesday, February 3, 2010
Breaking News-RTRS-USDA sees 2010 US corn 12.96 bln bu, soy 3.3 bln
WASHINGTON, Feb 2 (Reuters) - The U.S. Agriculture
Department projected a corn crop of 12.96 billion bushels and a
soybean crop of 3.23 billion bushels in 2010 as part of
preparing its budget proposal for the new fiscal year.
That would be the second-largest soybean crop after the
2009 record and the third-largest corn crop after 2009 and
2007.
Department projected a corn crop of 12.96 billion bushels and a
soybean crop of 3.23 billion bushels in 2010 as part of
preparing its budget proposal for the new fiscal year.
That would be the second-largest soybean crop after the
2009 record and the third-largest corn crop after 2009 and
2007.
Trader's Highlight
DJI-NEW YORK, Feb 2 (Reuters) - U.S. stocks rallied for a second day on Tuesday as better-than-expected earnings and encouraging data calmed investors after the market's recent sell-off.
Rising sales of previously owned U.S. homes and robust earnings from bellwethers representing consumer and industrial businesses, including Whirlpool Corp and Cummins Inc , pointed to a steady rebound in demand.
NYMEX-NEW YORK, Feb 2 (Reuters) - U.S. crude oil futures surged to end settle 3.76 percent higher on Tuesday, fueled by encouraging economic data, the weak dollar and technical strength that sparked traders to cover short positions.
Refined products futures were strong as a refinery fire in Canada shut a gasoline-making unit, adding to the lift already provided by the approaching refinery maintenance season.
On the New York Mercantile Exchange, March crude rose $2.80, or 3.76 percent, to settle at $77.23 a barrel, trading from $74.40 to $77.41, highest since $78.36 was struck on Jan. 21.
CBOT-CHICAGO, Feb 2 (Reuters) - Chicago Board of Trade grains and soy complex close on Tuesday.
CBOT-SOYBEANS - March up 15-3/4 cents at $9.25-1/2 per bushel. Short-covering bounce off four-month lows. Higher crude oil and equities markets coupled with weaker dollar add support. Rally limited by outlooks for big soy production in South America.
CBOT-SOYOIL - March up 1.28 cents at 37.47 cents per lb. Support from higher crude oil and firm soybeans.
FCPO-KUALA LUMPUR, Feb 2 (Reuters) - Malaysian crude palm oil futures rebounded from morning losses to end 0.29 percent higher on Tuesday but trading was quiet as market participants factored in strong export data for January, released the day before.
The benchmark April contract on the Bursa Malaysia Derivatives Exchange rose 7 ringgit to close at 2,452 ringgit ($718.4), reversing an earlier 0.29 percent slide at midday.
REGIONAL EQUITIES-BANGKOK, Feb 2 (Reuters) - Singapore stocks fell for a third
session on Tuesday and most other Southeast Asian stock markets ended lower, failing to hold on to early optimism after strong U.S. manufacturing data.
Singapore's index <.FTSTI> finished 0.56 percent lower, with Singapore Airlines losing more than 1 percent. After the close it reported a 19.7 percent rise in quarterly profit after a recovery in cargo volume and passenger demand, although that was smaller than expected .
Malaysia <.KLSE> gained 0.37 percent on resuming trade after a holiday on Monday, with buying interest in financials. CIMB Group and Public Bank each rose 0.8 percent. AMMB Holdings gained 1 percent. The rebound in Malaysia, Southeast Asia's second-best performer after Indonesia, was expected, with a strong earnings season in prospect, broker OSK said in a research note.
Rising sales of previously owned U.S. homes and robust earnings from bellwethers representing consumer and industrial businesses, including Whirlpool Corp
NYMEX-NEW YORK, Feb 2 (Reuters) - U.S. crude oil futures surged to end settle 3.76 percent higher on Tuesday, fueled by encouraging economic data, the weak dollar and technical strength that sparked traders to cover short positions.
Refined products futures were strong as a refinery fire in Canada shut a gasoline-making unit, adding to the lift already provided by the approaching refinery maintenance season.
On the New York Mercantile Exchange, March crude
CBOT-CHICAGO, Feb 2 (Reuters) - Chicago Board of Trade grains and soy complex close on Tuesday.
CBOT-SOYBEANS - March
CBOT-SOYOIL - March
FCPO-KUALA LUMPUR, Feb 2 (Reuters) - Malaysian crude palm oil futures rebounded from morning losses to end 0.29 percent higher on Tuesday but trading was quiet as market participants factored in strong export data for January, released the day before.
The benchmark April contract
REGIONAL EQUITIES-BANGKOK, Feb 2 (Reuters) - Singapore stocks fell for a third
session on Tuesday and most other Southeast Asian stock markets ended lower, failing to hold on to early optimism after strong U.S. manufacturing data.
Singapore's index <.FTSTI> finished 0.56 percent lower, with Singapore Airlines
Malaysia <.KLSE> gained 0.37 percent on resuming trade after a holiday on Monday, with buying interest in financials. CIMB Group
NYMEX Crude Daily: Found some immediate support
Market found some cushion at USD72.40 and rebounded to gain ground. Thus, market may consolidate in near term. As for now,upside resistance is looking at USD79.00 to 80.00. Downside support is adjusted to USD72.40.
FCPO Daily: in Sideways mode
Market was in sideways mode after the recent drop. Nevertheless, immediate daily technical landscape remains in negative. As for now, we continue to look for the immediate support at 2400-2393 followed by 2370-2360. While, upside resistance is pegged 2490-2500 followed by 2520.
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