AMSTERDAM, May 18 (Reuters) - Growth in global vegetable oil consumption is set to gain momentum this season, helped by increasing use of edible oils for biodiesel production, oilseeds analysts Oil World forecast on Tuesday.
World consumption of vegetable oils is expected to rise by about 6 million tonnes to 137.6 million tonnes in 2009/2010, compared with an increase of 5 million tonnes in 2008/09.
Wednesday, May 19, 2010
Trader's Highlight
DJI-NEW YORK, May 18 (Reuters) - U.S. stocks sank on Tuesday, driven lower as the strengthening of financial regulation from Wall Street to Frankfurt crushed bank stocks, adding to worries about the sustainability of the global economic recovery.
In Washington, several Republicans will vote with Democrats to wrap up debate on the sweeping reform of financial regulations and move toward final passage, Senate Majority Leader Harry Reid said.
Officials in Germany added to the uncertain future for banks when they suddenly moved to ban naked short selling in the stocks of the country's 10 most important financial institutions. Naked short selling occurs when an investor sells shares without borrowing them first.
The Dow Jones industrial average <.DJI> fell 114.88 points, or 1.08 percent, to 10,510.95. The Standard & Poor's 500 Index <.SPX> lost 16.14 points, or 1.42 percent, to 1,120.80. The Nasdaq Composite Index <.IXIC> shed 36.97 points, or 1.57 percent, to 2,317.26.
NYMEX-NEW YORK, May 18 (Reuters) - U.S. crude oil futures rose sharply on Tuesday as concerns about Europe's debt crisis receded and helped crude oil futures bounce after falling to a five-month low the previous session.
On the New York Mercantile Exchange at 10:06 a.m. EDT (1406 GMT), June crude was up $1.85, or 2.64 percent, at $71.93 a barrel, trading from $70.30 to $72.52.
CBOT-CHICAGO, May 18 (Reuters) - Chicago Board of Trade grains and soy complex close on Tuesday.
CBOT-SOYBEANS - July down 1-1/2 cents at $9.39-1/2 per bushel; new-crop November down 3 at $9.13-1/2. Weighed down by firm dollar, lower crude oil, plentiful global stockpile of oilseeds and outlooks for a potential bumper 2010 U.S. soybean crop.
CBOT-SOYOIL - July up 0.06 cent at 37.19 cents per lb. Light fund buying supports.
FCPO-JAKARTA, May 18 (Reuters) - Malaysian palm oil futures closed higher on Tuesday, tracking a rebound in crude oil, traders said, after hitting the lowest level in nearly four months the previous day.
Exports of Malaysian palm oil products were expected to climb further, also lifting market sentiment.
The benchmark August crude palm oil futures on Bursa Malaysia Derivatives Exchange rose 0.82 percent, or 20 ringgit, to 2,445 ringgit ($785) a tonne. Overall traded volume reached 8,611 lots of 25 tonnes each, well below the daily average of 10,000 lots.
REGIONAL EQUITIES-COLOMBO, May 18 (Reuters) - The Thai stock market recovered on Tuesday from a one-month low as anti-government protesters agreed to negotiations to end a two-month political crisis, while Singapore and Indonesia gained on bargain hunting.
Thai shares <.SETI> rose 0.9 percent and Singapore <.FTSTI> added 0.4 percent, erasing early losses. Indonesia <.JKSE> closed half a percent firmer.
But Malaysia <.KLSE> fell 0.3 percent, Philippines <.PSI> lost 0.7 percent, and Vietnam <.VNI> slid 0.6 percent.
Southeast Asia's biggest telecoms group Singapore Telecommunications rose over 2 percent, while Genting Singapore gained 1 percent.
Malaysia fell for third session led by 1.3 percent fall in Malaysia's largest lender Maybank.
In Washington, several Republicans will vote with Democrats to wrap up debate on the sweeping reform of financial regulations and move toward final passage, Senate Majority Leader Harry Reid said.
Officials in Germany added to the uncertain future for banks when they suddenly moved to ban naked short selling in the stocks of the country's 10 most important financial institutions. Naked short selling occurs when an investor sells shares without borrowing them first.
The Dow Jones industrial average <.DJI> fell 114.88 points, or 1.08 percent, to 10,510.95. The Standard & Poor's 500 Index <.SPX> lost 16.14 points, or 1.42 percent, to 1,120.80. The Nasdaq Composite Index <.IXIC> shed 36.97 points, or 1.57 percent, to 2,317.26.
NYMEX-NEW YORK, May 18 (Reuters) - U.S. crude oil futures rose sharply on Tuesday as concerns about Europe's debt crisis receded and helped crude oil futures bounce after falling to a five-month low the previous session.
On the New York Mercantile Exchange at 10:06 a.m. EDT (1406 GMT), June crude
CBOT-CHICAGO, May 18 (Reuters) - Chicago Board of Trade grains and soy complex close on Tuesday.
CBOT-SOYBEANS - July
CBOT-SOYOIL - July
FCPO-JAKARTA, May 18 (Reuters) - Malaysian palm oil futures closed higher on Tuesday, tracking a rebound in crude oil, traders said, after hitting the lowest level in nearly four months the previous day.
Exports of Malaysian palm oil products were expected to climb further, also lifting market sentiment.
The benchmark August crude palm oil futures
REGIONAL EQUITIES-COLOMBO, May 18 (Reuters) - The Thai stock market recovered on Tuesday from a one-month low as anti-government protesters agreed to negotiations to end a two-month political crisis, while Singapore and Indonesia gained on bargain hunting.
Thai shares <.SETI> rose 0.9 percent and Singapore <.FTSTI> added 0.4 percent, erasing early losses. Indonesia <.JKSE> closed half a percent firmer.
But Malaysia <.KLSE> fell 0.3 percent, Philippines <.PSI> lost 0.7 percent, and Vietnam <.VNI> slid 0.6 percent.
Southeast Asia's biggest telecoms group Singapore Telecommunications
Malaysia fell for third session led by 1.3 percent fall in Malaysia's largest lender Maybank
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