CHICAGO, Feb 3 (Reuters) - Analytical firm Informa Economics estimated Brazil's 2009/10 soybean production at 66.5 million tonnes and Argentina's soy crop at 54.0 million tonnes, trade sources said on Wednesday.
Informa pegged Brazilian corn production for 2009/10 at 53.3 million tonnes, and Argentine corn production at 18.2 million tonnes.
The U.S. Department of Agriculture last month projected Brazil's soybean crop at 65.0 million tonnes and Argentina's soy crop at 53.0 million. USDA put Brazil's corn crop at 51.0 million and Argentina's at 15.0 million.
Thursday, February 4, 2010
Trader's Highlight
DJI-NEW YORK, Feb 3 (Reuters) - U.S. stocks mostly fell on Wednesday as Pfizer's disappointing outlook weighed on the health sector, and President Obama's pledge to complete banking and healthcare reform revived fears of increased regulation.
President Barack Obama reiterated his commitment to overhaul the healthcare system and impose stricter regulatory reforms on Wall Street, underscoring the political risk that has driven U.S. stocks lower in recent weeks.
NYMEX-NEW YORK, Feb 3 (Reuters) - U.S. crude oil futures ended lower on Wednesday, with volatility heating up near the close, as a larger-than-expected build in crude stocks overwhelmed support from a surprise drawdown in gasoline stocks.
Poor demand for products, despite product drawdowns and recent frigid weather in much of the United States, remained a big drag for energy futures, traders said.
On the New York Mercantile Exchange, March crude settled down 25 cents, or 0.32 percent, at $76.98 a barrel, trading from $76.52 to $78.04.
CBOT-CHICAGO, Feb 3 (Reuters) - Chicago Board of Trade grains and soy complex close on Wednesday.
CBOT-SOYBEANS - March down 17-1/2 cents at $9.08 a bushel. Fell to day's low after traders said Informa Economics increased its forecast for South American soy production. Outlooks for bumper South American soybean production and overall abundant supply of global oilseeds weigh on prices.
CBOT-SOYOIL - March down 0.57 cent at 36.90 cents per lb.Weakness in soy complex weighs.
FCPO-KUALA LUMPUR, Feb 3 (Reuters) - Malaysian palm oil futures rose 1.9 percent on Wednesday, led by the rally in crude oil, which posted its biggest percentage gain in four months on Tuesday and also lifted other vegetable oil markets.
Palm oil has performed slightly better than other rival vegetable oils so far this year, falling just 6.5 percent compared to U.S. soyoil's 8 percent drop and declines of up to 8.5 percent in China's Dalian soybean oil.
REGIONAL EQUITIES-BANGKOK, Feb 3 (Reuters) - Singapore stocks gained 1.6 percent on Wednesday, ending a three-day losing streak and leading other Southeast Asian stock markets higher amid improving sentiment in U.S. stocks after upbeat economic data there.
The Straits Times Index <.FTSTI> was pushed up by buying in recently depressed big-caps, with top lender DBS Group up 3 percent, commodities firm Golden Agri up 4 percent and Ezra Holdings up 10 percent.
The Thai stock index <.SETI> gained nearly 2 percent, Malaysia <.KLSE> 0.3 percent, Indonesia <.JKSE> 1 percent, the Philippines <.PSI> 0.7 percent and Vietnam <.VNI> 1.6 percent.
Gainers in Kuala Lumpur were led by a 2.2 percent climb in shipper MISC and a 1.8 percent rise in telecoms firm Axiata Group .
President Barack Obama reiterated his commitment to overhaul the healthcare system and impose stricter regulatory reforms on Wall Street, underscoring the political risk that has driven U.S. stocks lower in recent weeks.
NYMEX-NEW YORK, Feb 3 (Reuters) - U.S. crude oil futures ended lower on Wednesday, with volatility heating up near the close, as a larger-than-expected build in crude stocks overwhelmed support from a surprise drawdown in gasoline stocks.
Poor demand for products, despite product drawdowns and recent frigid weather in much of the United States, remained a big drag for energy futures, traders said.
On the New York Mercantile Exchange, March crude
CBOT-CHICAGO, Feb 3 (Reuters) - Chicago Board of Trade grains and soy complex close on Wednesday.
CBOT-SOYBEANS - March
CBOT-SOYOIL - March
FCPO-KUALA LUMPUR, Feb 3 (Reuters) - Malaysian palm oil futures rose 1.9 percent on Wednesday, led by the rally in crude oil, which posted its biggest percentage gain in four months on Tuesday and also lifted other vegetable oil markets.
Palm oil has performed slightly better than other rival vegetable oils so far this year, falling just 6.5 percent compared to U.S. soyoil's 8 percent drop and declines of up to 8.5 percent in China's Dalian soybean oil.
REGIONAL EQUITIES-BANGKOK, Feb 3 (Reuters) - Singapore stocks gained 1.6 percent on Wednesday, ending a three-day losing streak and leading other Southeast Asian stock markets higher amid improving sentiment in U.S. stocks after upbeat economic data there.
The Straits Times Index <.FTSTI> was pushed up by buying in recently depressed big-caps, with top lender DBS Group
The Thai stock index <.SETI> gained nearly 2 percent, Malaysia <.KLSE> 0.3 percent, Indonesia <.JKSE> 1 percent, the Philippines <.PSI> 0.7 percent and Vietnam <.VNI> 1.6 percent.
Gainers in Kuala Lumpur were led by a 2.2 percent climb in shipper MISC
FKLI Daily: Sideways to lower
Market rebounded a little after tested the underline support at 1250 levels. Nevertheless, overall technical landscape remains weak. Thus, market may continue to move sideways to bias downside potential in near term. We continue to look for the resistance and support at 1280-1285 and 1260-1250 levels respectively.
FCPO Daily: in Consolidation phase
Consolidation phase looks likely to extend in near term as prices move in the range between 2400-2500 levels. Thus, we continue to look for the immediate support at 2475-2462 (gap left over on 3/2/2010) followed by 2400-2393. While, upside resistance is pegged 2520-2540.
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