HAMBURG, Feb 23 (Reuters) - Brazil's soybean exports are likely to rise strongly in February as the large 2010 harvest is marketed, but new crop sales by Argentina appear more restrained, Hamburg-based oilseeds analysts Oil World forecast on Tuesday.
Brazil may export 2.2-2.6 million tonnes of soybeans in February, up from only 100,000 tonnes in January and 700,000 tonnes in February 2009, it estimates.
Brazil's early 2010 soybean crop, now underway, is forecast by Oil World at 64-65 million tonnes, up from 57.4 million tonnes in 2009.
Wednesday, February 24, 2010
Trader's Highlight
DJI-NEW YORK, Feb 23 (Reuters) - U.S. stocks suffered their biggest one-day decline in nearly three weeks on Tuesday after a sharp drop in consumer confidence heightened worries over one of the most vulnerable areas of the economy.
Consumer confidence in February slumped to a 10-month low as the short-term outlook on jobs worsened. Results from retailers added little hope, as bellwethers like Target Corp forecast a tepid performance in the first quarter.
NYMEX-NEW YORK, Feb 23 (Reuters) - U.S. crude oil futures fell on Tuesday as weak consumer confidence data added to pressure provided by the dollar's strength on concerns about the euro zone economy. Crude's slip comes after five straight higher closes.
On the New York Mercantile Exchange at 10:27 a.m. EST (1527 GMT), April crude was down $1.73, or 2.15 percent, at $78.58 a barrel, trading from $78.22 to $80.39.
CBOT-CHICAGO, Feb 23 (Reuters) - Wheat and corn futures on the Chicago Board of Trade were lower early Tuesday in a profit-taking setback after Monday's rally, while soybeans were mixed, with front months supported by firm cash markets, traders said. A firmer dollar and declines in crude oil futures hung over the grain markets.
CBOT-SOYBEANS - March up 1 cent at $9.62-1/2 per bushel; new-crop November down 3-3/4 cents at $9.32.
CBOT-SOYOIL - March down 0.33 cent at 38.50 cents a lb.
FCPO-JAKARTA, Feb 23 (Reuters) - Malaysia's palm oil futures edged up on Tuesday, giving up much of the day's earlier gains as investors locked in profit in late trade, traders said. Recent rise has been underpinned by expectations of a decline in production this month, which may offset weaker exports and reduce inventories in the world's number two producer.
Output prospects are also clouded by hotter-than-usual weather, due to the resurgent El Nino weather condition. [ID:nSGE61L09F] But the rally, which touched a six-and-a-half-week high, was halted by concerns that the market is probably overbought.
REGIONAL EQUITIES-BANGKOK, Feb 23 (Reuters) - Most major Southeast Asian stock markets gained on Tuesday as the region looked ahead to a testimony from Federal Reserve Chairman Ben Bernanke for clues on interest rates.
Singapore <.FTSTI> was up 0.9 percent, Indonesia <.JKSE> rose 0.76 percent, at one point touching its highest since Feb 5, and Thailand <.SETI> rose 1.4 percent to its highest since Jan. 21.
Malaysia <.KLSE> ended unchanged, giving up an early gain to its highest since Feb. 2.
Consumer confidence in February slumped to a 10-month low as the short-term outlook on jobs worsened. Results from retailers added little hope, as bellwethers like Target Corp
NYMEX-NEW YORK, Feb 23 (Reuters) - U.S. crude oil futures fell on Tuesday as weak consumer confidence data added to pressure provided by the dollar's strength on concerns about the euro zone economy. Crude's slip comes after five straight higher closes.
On the New York Mercantile Exchange at 10:27 a.m. EST (1527 GMT), April
CBOT-CHICAGO, Feb 23 (Reuters) - Wheat and corn futures on the Chicago Board of Trade were lower early Tuesday in a profit-taking setback after Monday's rally, while soybeans were mixed, with front months supported by firm cash markets, traders said. A firmer dollar and declines in crude oil futures hung over the grain markets.
CBOT-SOYBEANS - March
CBOT-SOYOIL - March
FCPO-JAKARTA, Feb 23 (Reuters) - Malaysia's palm oil futures edged up on Tuesday, giving up much of the day's earlier gains as investors locked in profit in late trade, traders said. Recent rise has been underpinned by expectations of a decline in production this month, which may offset weaker exports and reduce inventories in the world's number two producer.
Output prospects are also clouded by hotter-than-usual weather, due to the resurgent El Nino weather condition. [ID:nSGE61L09F] But the rally, which touched a six-and-a-half-week high, was halted by concerns that the market is probably overbought.
REGIONAL EQUITIES-BANGKOK, Feb 23 (Reuters) - Most major Southeast Asian stock markets gained on Tuesday as the region looked ahead to a testimony from Federal Reserve Chairman Ben Bernanke for clues on interest rates.
Singapore <.FTSTI> was up 0.9 percent, Indonesia <.JKSE> rose 0.76 percent, at one point touching its highest since Feb 5, and Thailand <.SETI> rose 1.4 percent to its highest since Jan. 21.
Malaysia <.KLSE> ended unchanged, giving up an early gain to its highest since Feb. 2.
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