BUENOS AIRES, April 14 (Reuters) - Chinese soyoil importers are asking Argentine exporters not to send shipments of the oil that had been bought before Beijing started imposing a new import standard, traders in Buenos Aires said on Wednesday.
Chinese authorities have denied the new rules were imposed in retaliation for Argentina's decision to restrict some Chinese imports, such as shoes and steel pipes, to protect local industry during the global economic crisis.
The disruption to exports is raising concern in Argentina because it threatens a key source of hard currency.
Friday, April 16, 2010
Trader's Highlight
DJI-NEW YORK, April 15 (Reuters) - U.S. stocks posted their sixth straight day of gains on Thursday as an encouraging profit forecast from United Parcel Service lifted transportation shares, though concerns about a rise in weekly jobless claims limited the market's advance.
Financial stocks weighed on the S&P 500 as they gave back some gains after Wednesday's strong rally.
The Dow Jones industrial average <.DJI> rose 21.46 points, or 0.19 percent, to end at 11,144.57. The Standard & Poor's 500 Index <.SPX> edged up 1.02 points, or 0.08 percent, to 1,211.67. The Nasdaq Composite Index <.IXIC> gained 10.83 points, or 0.43 percent, to close at 2,515.69.
NYMEX-NEW YORK, April 15 (Reuters) - U.S. crude oil futures ended lower on Thursday, roiled by pre-expiry trading on options on the front-month May crude contract, analysts said.
The downturn follows a 2 percent rally on Wednesday that was sparked by a surprise crude inventory drawdown and a bigger-than-expected fall in gasoline stocks.
On the New York Mercantile Exchange, May crude settled down 33 cents, or 0.38 percent, at $85.51 a barrel, trading from $85.27 to $86.27. NYMEX May crude expires on April 20.
CBOT-CHICAGO, April 15 (Reuters) - Chicago Board of Trade grains and soy complex close on Thursday.
CBOT-SOYBEANS - May up 15 cents at $9.84 a bushel; November up 14-3/4 cents at $9.61. Slow farmer selling in the U.S. and in South America and brisk demand lifted cash markets and soy futures followed. Short-covering technical rally and fund buying also cited.
CBOT-SOYOIL - May up 0.21 cent at 40.07 cents per lb. Following soybeans.
FCPO-KUALA LUMPUR, April 15 (Reuters) - Malaysian crude palm oil futures fell for the fourth straight session on Thursday as the ringgit currency strengthened against the U.S. dollar, eating into refining margins.
Weak Malaysian palm oil exports in the first half of April and prospects of stocks rising higher also weighed on the market, although the rise of crude oil above $86 a barrel limited losses.
By midday, the benchmark June crude palm oil contract on Bursa Malaysia Derivatives shed 0.3 percent, or 8 ringgit, to settle at 2,520 ringgit ($788) a tonne. Volume fell to 3,453 lots of 25 tonnes from the usual 5,000 lots.
REGIONAL EQUITIES-COLOMBO, April 15 (Reuters) - Positive economic data from China and the U.S. helped Southeast Asian stocks led by Indonesia, but Philippines shed earlier gains to close in the red.
Indonesia <.JKSE> gained 0.54 percent, Malaysia <.KLSE> rose 0.22 percent, and Vietnam closed 1 percent firmer.
Singapore's Straits Time Index <.FTSTI> edged down 0.1 percent after hitting a new 21-month high during trade, while Philippines index <.PSI> closed 0.6 percent weaker on profit taking ahead of the elections on May 10.
In Kuala Lumpur, the index <.KLSE> closed up 0.2 percent led by a 2.4 percent gain in telecoms firm Axiata Group and a 1.4 percent rise in Genting Group .
Financial stocks weighed on the S&P 500 as they gave back some gains after Wednesday's strong rally.
The Dow Jones industrial average <.DJI> rose 21.46 points, or 0.19 percent, to end at 11,144.57. The Standard & Poor's 500 Index <.SPX> edged up 1.02 points, or 0.08 percent, to 1,211.67. The Nasdaq Composite Index <.IXIC> gained 10.83 points, or 0.43 percent, to close at 2,515.69.
NYMEX-NEW YORK, April 15 (Reuters) - U.S. crude oil futures ended lower on Thursday, roiled by pre-expiry trading on options on the front-month May crude contract, analysts said.
The downturn follows a 2 percent rally on Wednesday that was sparked by a surprise crude inventory drawdown and a bigger-than-expected fall in gasoline stocks.
On the New York Mercantile Exchange, May
CBOT-CHICAGO, April 15 (Reuters) - Chicago Board of Trade grains and soy complex close on Thursday.
CBOT-SOYBEANS - May
CBOT-SOYOIL - May
FCPO-KUALA LUMPUR, April 15 (Reuters) - Malaysian crude palm oil futures fell for the fourth straight session on Thursday as the ringgit currency strengthened against the U.S. dollar, eating into refining margins.
Weak Malaysian palm oil exports in the first half of April and prospects of stocks rising higher also weighed on the market, although the rise of crude oil above $86 a barrel limited losses.
By midday, the benchmark June crude palm oil contract
REGIONAL EQUITIES-COLOMBO, April 15 (Reuters) - Positive economic data from China and the U.S. helped Southeast Asian stocks led by Indonesia, but Philippines shed earlier gains to close in the red.
Indonesia <.JKSE> gained 0.54 percent, Malaysia <.KLSE> rose 0.22 percent, and Vietnam closed 1 percent firmer.
Singapore's Straits Time Index <.FTSTI> edged down 0.1 percent after hitting a new 21-month high during trade, while Philippines index <.PSI> closed 0.6 percent weaker on profit taking ahead of the elections on May 10.
In Kuala Lumpur, the index <.KLSE> closed up 0.2 percent led by a 2.4 percent gain in telecoms firm Axiata Group
CBOT Soyoil Daily: Sideways to bias upside potential
Market is maintaining its sideways to higher posture following prices surged to close at the intra-day high. As for now, we continue to look for the upside resistance at USc40.96-41.00. While, downside support is lies at USc39.85-39.50.
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