HAMBURG, April 19 (Reuters) - Indonesia, the world's top palm oil exporter, will produce 23.8 million tonnes in 2011 versus 22.0 million tonnes last year, Hamburg-based oilseeds analysts Oil World forecast on Tuesday.
The forecast is 100,000 tonnes higher than Oil World's previous estimate though below the 25.0 million forecast by industry analyst Dorab Mistry.
Wednesday, April 20, 2011
Trader's Highlight
DJI-NEW YORK, April 19 (Reuters) - Encouraging results from health care and materials companies lifted U.S. stocks on Tuesday, but weak earnings from Goldman Sachs limited gains in a market skeptical of the growth outlook.
Investors were reluctant to make big bets as the market readied for a spate of high-profile earnings. Volume was extremely low, with 6.65 billion shares traded on the New York Stock Exchange, the American Stock Exchange and Nasdaq, below last year's daily average of 8.47 billion
The Dow Jones industrial average <.DJI> gained 65.16 points, or 0.53 percent, to 12,266.75 at the close. The Standard & Poor's 500 Index <.SPX> added 7.48 points, or 0.57 percent, to 1,312.62. The Nasdaq Composite Index <.IXIC> advanced 9.59 points, or 0.35 percent, to 2,744.97.
NYMEX-NEW YORK, April 18 (Reuters) - U.S. crude oil futures fell on Monday, snapping three days of gains, as Standard & Poor's revised to negative its long-term credit outlook for the United States and Saudi Arabia trimmed output, citing oversupply and weak demand for its crude.
OPEC ministers meeting in Kuwait said costly oil could weigh heavily on consumer countries, seen as reflecting their belief that fuel demand has weakened.
On the New York Mercantile Exchange, May crude settled at $107.12 a barrel, down $2.54, or 2,32 percent. It traded from $106.54 to $109.44.
CBOT-CHICAGO, April 19 (Reuters) - U.S. soybean futures ended lower on Tuesday, pressured by news that China was canceling orders for soy cargoes due to poor crush margins. although a firm tone in corn and crude oil helped limit losses, traders said.
China confirmed the cancellation of six to eight South American soy cargoes and the deferral of about 20 shipments as crushers take losses, partly due to Beijing's expected release of a large volume of state soy reserves at lower prices to tame food inflation.
FCPO-KUALA LUMPUR, April 19 (Reuters) - Malaysian palm oil futures ended off three-week lows on Tuesday on short-covering although lingering worries over slower overseas demand due to large soybean crop harvest in South America continued to weigh.
The benchmark July crude palm oil contract on Bursa Malaysia Derivatives rose 0.3 percent to 3,255 ringgit ($1,076.567) per tonne. It earlier hit its lowest level since March 24 of 3,212 ringgit. Traded volumes stood at 25,047 lots of 25 tonnes each, compared to the usual 25,000 lots.
REGIONAL EQUITIES-COLOMBO , April 19 (Reuters) - Most Southeast Asian stock markets lost ground on Tuesday after ratings-agency Standard & Poor's downgraded the U.S. credit outlook to negative, but Thailand and Indonesia bucked the trend as some investors scouted for emerging-market bargains.
Singapore <.FTSTI> ended down 0.6 percent at its lowest close since April 1. The Philippines <.PSI> shed 0.6 percent; Malaysia <.KLSE> fell 0.4 percent to a three-week low, led by financials with volume slumping to 0.85 times its 30-day average, while Vietnam <.VNI> fell 0.4 percent. Singapore Exchange, which posted a 10.2 percent drop in quarterly net profit, fell 1.6 percent.
Investors were reluctant to make big bets as the market readied for a spate of high-profile earnings. Volume was extremely low, with 6.65 billion shares traded on the New York Stock Exchange, the American Stock Exchange and Nasdaq, below last year's daily average of 8.47 billion
The Dow Jones industrial average <.DJI> gained 65.16 points, or 0.53 percent, to 12,266.75 at the close. The Standard & Poor's 500 Index <.SPX> added 7.48 points, or 0.57 percent, to 1,312.62. The Nasdaq Composite Index <.IXIC> advanced 9.59 points, or 0.35 percent, to 2,744.97.
NYMEX-NEW YORK, April 18 (Reuters) - U.S. crude oil futures fell on Monday, snapping three days of gains, as Standard & Poor's revised to negative its long-term credit outlook for the United States and Saudi Arabia trimmed output, citing oversupply and weak demand for its crude.
OPEC ministers meeting in Kuwait said costly oil could weigh heavily on consumer countries, seen as reflecting their belief that fuel demand has weakened.
On the New York Mercantile Exchange, May crude
CBOT-CHICAGO, April 19 (Reuters) - U.S. soybean futures ended lower on Tuesday, pressured by news that China was canceling orders for soy cargoes due to poor crush margins. although a firm tone in corn and crude oil helped limit losses, traders said.
China confirmed the cancellation of six to eight South American soy cargoes and the deferral of about 20 shipments as crushers take losses, partly due to Beijing's expected release of a large volume of state soy reserves at lower prices to tame food inflation.
FCPO-KUALA LUMPUR, April 19 (Reuters) - Malaysian palm oil futures ended off three-week lows on Tuesday on short-covering although lingering worries over slower overseas demand due to large soybean crop harvest in South America continued to weigh.
The benchmark July crude palm oil contract
REGIONAL EQUITIES-COLOMBO , April 19 (Reuters) - Most Southeast Asian stock markets lost ground on Tuesday after ratings-agency Standard & Poor's downgraded the U.S. credit outlook to negative, but Thailand and Indonesia bucked the trend as some investors scouted for emerging-market bargains.
Singapore <.FTSTI> ended down 0.6 percent at its lowest close since April 1. The Philippines <.PSI> shed 0.6 percent; Malaysia <.KLSE> fell 0.4 percent to a three-week low, led by financials with volume slumping to 0.85 times its 30-day average, while Vietnam <.VNI> fell 0.4 percent. Singapore Exchange
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