NEW DELHI, Oct 8 (Reuters) - Rapeseed output in India's top producing state is likely to jump 45 percent this year, cutting cooking oil import needs by at least 5 percent for the world's top buyer in 2010/11, farm and trade officials said on Friday.
The area under cultivation for rapeseed, the main winter-sown oilseed, is likely rise as good monsoon rains give the soil moisture, improving output from last year when the worst drought in nearly four decades ravaged farms.
Monday, October 11, 2010
Breaking News-RTRS - Brazil's soy belt seen dry till mid next week
SAO PAULO, Oct 8 (Reuters) - Farmers in Brazil's soybean belt will have to wait until the middle of next week at least for rain that could potentially boost the planting of the 2010/11 crop, data from Somar meteorologists showed on Friday.
A new cold front is advancing over Brazil's southeast but has not been
enough to bring substantial rains over the center-west, Somar said in a daily soy weather bulletin.
A new cold front is advancing over Brazil's southeast but has not been
enough to bring substantial rains over the center-west, Somar said in a daily soy weather bulletin.
Trader's Highlight
DJI-NEW YORK, Oct 8 (Reuters) - The Dow closed above the 11,000 mark for the first time in five months on Friday as a surprisingly weak jobs report strengthened the case for more stimulus from the Federal Reserve.
While a loss of 95,000 jobs normally might be expected to hurt stocks, the market's desire for cheap money trumped concerns about the slow economy.
The Dow Jones industrial average <.DJI> gained 57.90 points, or 0.53 percent, to close at 11,006.48. The Standard & Poor's 500 Index <.SPX> rose 7.09 points, or 0.61 percent, to 1,165.15. The Nasdaq Composite Index <.IXIC> climbed 18.24 points, or 0.77 percent, to 2,401.91.
NYMEX-NEW YORK, Oct 8 (Reuters) - U.S. crude oil futures rose on Friday as the dollar weakened due to an unexpected dip in U.S. jobs, further raising expectations of easier money policies from the Federal Reserve to help lift the struggling economy.
U.S. equities gained, bolstered by the likely Fed action, and gasoline futures rallied. Both aided crude's rebound from Thursday's losses.
On the New York Mercantile Exchange, November crude settled up 99 cents, or 1.21 percent, at $82.66 a barrel. It traded from $80.30 to $83.13.
CBOT-CHICAGO, Oct 8 (Reuters) - Chicago Board of Trade grain and soybean complex close on Friday.
CBOT-SOYBEANS - November up 70-cent limit at $11.35 a bushel. Spillover support from soaring corn with additional support from bullish U.S. soy production and ending stocks numbers in USDA's October crop reports.
CBOT-SOYOIL - October up 2.43 cents at 46.22 cents per lb. Following soybeans.
FCPO-KUALA LUMPUR, Oct 8 (Reuters) - Malaysian palm oil ended off a 26-month high and other vegetable oil markets edged higher as traders bet China would start to restock after the long holidays at a time of possible tight global supplies.
But some traders turned cautious later in the session after news that India would probably cut down on some vegetable oil imports as rapeseed output jumped in a key producing state. [ID:nSGE6930GP]
Benchmark Malaysian palm oil futures <0#KPO:> rose as much as 0.8 percent at 2,808 ringgit ($909) per tonne, a level unseen since Aug 8, 2008. The contract ended 26 ringgit lower at 2,760 ringgit.
Trades were brisk, with 14,443 lots of 25 tonnes each changing hands, up from the usual 10,000.
REGIONAL EQUITIES-BANGKOK, Oct 8 (Reuters) - Southeast Asian stock markets fell on Friday ahead of U.S. job data and contentious G7 and IMF meetings focusing on currencies, with Thai stocks pulling back from 14-year highs, but most bourses managed gains on the week.
Investors chose to lock in profits, wary of what may come out of the weekend meetings and of regional policies that may curb inflows. The bull run on equities in the region is in large part the result of hot money flowing out of developed economies.
Equities in Indonesia <.JKSE>, Thailand <.SETI> and Singapore <.FTSTI> fell for a second session, finishing down 1.1 percent, 0.8 percent and 0.4 percent respectively.
Malaysia <.KLSE> ended flat, after earlier climbing to a 32-month high, the Philippines <.PSI> eased 0.2 percent, coming off a record high hit in early trade, and Vietnam <.VNI> fell 0.6 percent after scaling a one-month high on Thursday.
On the week, Thailand ended down 1.6 percent, Southeast Asia's worst performer. Indonesia was flat, snapping a five-week gain, but Singapore, Malaysia, Vietnam and the Philippines finished higher. Manila fared best, ending up 3.04 percent.
While a loss of 95,000 jobs normally might be expected to hurt stocks, the market's desire for cheap money trumped concerns about the slow economy.
The Dow Jones industrial average <.DJI> gained 57.90 points, or 0.53 percent, to close at 11,006.48. The Standard & Poor's 500 Index <.SPX> rose 7.09 points, or 0.61 percent, to 1,165.15. The Nasdaq Composite Index <.IXIC> climbed 18.24 points, or 0.77 percent, to 2,401.91.
NYMEX-NEW YORK, Oct 8 (Reuters) - U.S. crude oil futures rose on Friday as the dollar weakened due to an unexpected dip in U.S. jobs, further raising expectations of easier money policies from the Federal Reserve to help lift the struggling economy.
U.S. equities gained, bolstered by the likely Fed action, and gasoline futures rallied. Both aided crude's rebound from Thursday's losses.
On the New York Mercantile Exchange, November crude
CBOT-CHICAGO, Oct 8 (Reuters) - Chicago Board of Trade grain and soybean complex close on Friday.
CBOT-SOYBEANS - November
CBOT-SOYOIL - October
FCPO-KUALA LUMPUR, Oct 8 (Reuters) - Malaysian palm oil ended off a 26-month high and other vegetable oil markets edged higher as traders bet China would start to restock after the long holidays at a time of possible tight global supplies.
But some traders turned cautious later in the session after news that India would probably cut down on some vegetable oil imports as rapeseed output jumped in a key producing state. [ID:nSGE6930GP]
Benchmark Malaysian palm oil futures <0#KPO:> rose as much as 0.8 percent at 2,808 ringgit ($909) per tonne, a level unseen since Aug 8, 2008. The contract ended 26 ringgit lower at 2,760 ringgit.
Trades were brisk, with 14,443 lots of 25 tonnes each changing hands, up from the usual 10,000.
REGIONAL EQUITIES-BANGKOK, Oct 8 (Reuters) - Southeast Asian stock markets fell on Friday ahead of U.S. job data and contentious G7 and IMF meetings focusing on currencies, with Thai stocks pulling back from 14-year highs, but most bourses managed gains on the week.
Investors chose to lock in profits, wary of what may come out of the weekend meetings and of regional policies that may curb inflows. The bull run on equities in the region is in large part the result of hot money flowing out of developed economies.
Equities in Indonesia <.JKSE>, Thailand <.SETI> and Singapore <.FTSTI> fell for a second session, finishing down 1.1 percent, 0.8 percent and 0.4 percent respectively.
Malaysia <.KLSE> ended flat, after earlier climbing to a 32-month high, the Philippines <.PSI> eased 0.2 percent, coming off a record high hit in early trade, and Vietnam <.VNI> fell 0.6 percent after scaling a one-month high on Thursday.
On the week, Thailand ended down 1.6 percent, Southeast Asia's worst performer. Indonesia was flat, snapping a five-week gain, but Singapore, Malaysia, Vietnam and the Philippines finished higher. Manila fared best, ending up 3.04 percent.
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