RTRS - China 2013 and 2014 soy imports to hit record, rise 11.9 pct -think-tank

BEIJING, May 15 (Reuters) - China, the world's top soy buyer, is forecast to import a record 66 million tonnes of the oilseed in 2013/14 due to robust domestic demand and low stocks, an official think-tank said.

That is 11.9 percent higher than estimated imports for the current marketing year, ending in September, the China National Grain and Oils Information Center said on Wednesday.

But the figure is 3 million tonnes lower than predictions by the U.S. Department of Agriculture, which put China's soy imports at 69 million tonnes in the next marketing year - two thirds of the world total. 

China's soy imports in the current year are likely to fall by 230,000 tonnes from the previous year due to a reduction in global supplies, while port congestion in Brazil, the world' second largest exporter, has also delayed some shipments, it said.

The center does not expect any major impact on demand from outbreaks of bird flu that have already killed 35.

Current soy stocks at ports have fallen below 4 million tonnes, their weakest since 2010, following low imports in the first four months of the year, it said.

Demand for soymeal, the major ingredient for animal feed production, was also projected to rise 7.1 percent on the year in 2013/14 to 52.4 million tonnes. Chinese soy plants need about 5 million tonnes of soy every month.

The center also expects China to import 1.1 million tonnes of soyoil in 2013/14 and 3 million tonnes of rapeseed. It did not give comparative figures.

Rapeseed oil imports in 2013/14 were seen at 1.3 million tonnes.

Tradert's highlight

DJI - NEW YORK, May 15 (Reuters) - U.S. stocks rose on Wednesday, with the Dow and S&P 500 hitting new all-time highs in a broad market rally as the recent upward momentum persisted.

The Nasdaq also hit its highest level since November 2000 although gains were limited by a steep decline in Apple . Shares of the tech giant sold off in late afternoon trading after filings from hedge funds showed that the one-time Wall Street darling was dropped by more famous hedge fund managers in the first quarter.

The day's gains were broad, with nine of the S&P 500's 10 sectors ending higher. Among the top gainers were the consumer staples sector index, up 1 percent, and the financial sector , also up 1 percent. The only decliner was the energy sector index , down 0.4 percent

The overall market showed further signs of strength despite the S&P 500 rising to a record for the fourth session in a row. The broad market index has recorded 15 new closing highs this year.

An options gauge looking at the level of anxiety showed signs that investors are placing optimistic wagers on the stock market, positioning for the current run-up to extend for the next three months.

Equities have rallied in recent weeks as investors bet that central bank stimulus measures will keep supporting market gains.

Such policies have helped spur advances of about 15 percent in major U.S. indexes this year despite data showing some signs of lackluster growth.

In the latest reads on the economy, activity in New York state's manufacturing sector unexpectedly contracted in May. Another report showed that U.S. industrial production fell more than expected in April.

"It's disconcerting that the data was so much lower than what we were looking for, but there's no reason for investors to sell," said Michael Binger, senior portfolio manager at Gradient Investments in Minneapolis.

"The main things driving the market - the Fed, earnings, consumer confidence - are holding up, and people put money in the market on any down day. I still see a lot of value."

The Dow Jones industrial average rose 60.44 points, or 0.40 percent, to close at a record 15,275.69. The Standard & Poor's 500 Index added 8.44 points, or 0.51 percent, to finish at a record 1,658.78. The Nasdaq Composite Index gained 9.01 points, or 0.26 percent, to close at 3,471.62.

Oils - NEW YORK, May 15 (Reuters) - Brent crude oil prices rose by more than $1 on Wednesday, reversing early losses to settle above $103 a barrel and increasing its premium over U.S. crude to the largest in 13 sessions.

The gain came as U.S. equity markets rallied to record highs and signs of deadlock on nuclear talks with Iran lent support to the global oil benchmark.

Data showing the euro zone was in its longest recession ever and an increase in U.S. refined products inventories had sparked an early selloff.

U.S. stocks edged up on Wednesday, with the Dow and S&P 500 hitting new all-time highs as the market's recent upward momentum persisted, but a steep decline in Apple AAPL.O kept gains in check.

U.S. crude inventories fell last week, but gasoline and distillate stocks rose along with refinery rates, the EIA data showed. Stocks at the Cushing, Oklahoma, crude storage hub rose 575,000 barrels to 49.72 million barrels.

"We got down to a level about halfway between our recent peaks and troughs, and then selling just stopped. Perhaps for all intents and purposes the market had already priced the report in," said Stephen Schork, the editor of The Schork Report in Villanova, Pennsylvania.

News that the United Nations' nuclear agency's talks with Iran over its suspected atomic bomb research had stalled lent further support to Brent prices.

Brent crude rose $1.08 to settle at $103.68 a barrel after falling to $101.20 earlier in the day. U.S. oil  edged up 9 cents to settle at $94.30 a barrel after losing more than $2 following the release of the EIA data.

CBOT Soybean - May 15 (Reuters) - Soybean futures on the Chicago Board of Trade fell Wednesday on technical selling and on monthly data showing a bigger-than-expected slowdown in the U.S. soy processing pace, traders said.

• dipped below its 100-day moving average at $14.05 and hit a session low of $14.02-1/4, but pared losses toward the close, supported by scarce U.S. old-crop supplies and strength in the cash market.

• Grains and other commodities were pressured as the dollar rose to a six-week high versus the euro on evidence that Europe was stuck in recession.

• The National Oilseed Processors Association (NOPA) said the U.S. soybean crush fell to 120.1 million bushels in April, below an average of trade estimates for 125.5 million, and was the second-lowest monthly total in 19 months.

• NOPA reported U.S. soyoil stocks at 2.638 billion lbs, versus 2.765 billion in March. Analysts had forecast stocks at 2.65 billion lbs.

• CBOT reported 28 soybean contracts delivered against the expired May contract amid strong stopping.

• China, the world's top soy buyer, is forecast to import a record 66 million tonnes of the oilseed in 2013/14, an official think-tank said. But the figure was below USDA's latest forecast for 69 million tonnes.

• USDA said private exporters reported sales of 171,000 tonnes of U.S. soybeans to China for delivery in 2013/14.

BMD CPO - SINGAPORE, May 15 (Reuters) - Malaysian palm oil futures fell for a third straight day on Wednesday, as weak exports and a firm ringgit currency stirred doubts about the strength of demand for the edible oil.

Exports of Malaysian palm oil products for the first 15 days of May fell 7.6 percent to 599,300 tonnes from 648,275 tonnes shipped during the same period a month ago, cargo surveyor Intertek Testing Services (ITS) said.

Another cargo surveyor, Societe Generale de Surveillance, reported a smaller decline of 3 percent for the same period.

A firmer ringgit also dampened buying interest as it makes ringgit-priced crude palm oil more expensive for overseas buyers and reduced refiners' margins. The currency rose above the 3-ringgit mark against the dollar after Malaysian general elections on May 5.

"We continue to see a downtrend in terms of exports, which is bearish for the market," said a trader with a foreign commodities brokerage in Kuala Lumpur.

"But on the bright side, the decline is slightly less than the first 10 days and we will have to see if exports will recover in the second half of the month."

Shipments fell 16.7 percent in the first 10 days of May from a month ago, according to ITS.

At market close, the benchmark July contract on the Bursa Malaysia Derivatives Exchange was down 0.3 percent at 2,296 ringgit ($763) per tonne, after trading between 2,277 and 2,299 ringgit.

Total traded volumes stood at 42,201 lots of 25 tonnes each, higher than the average 35,000 lots.

Malaysia, the world's No.2 palm oil producer, will set its crude palm oil export tax for June at 4.5 percent, flat with May, a government circular showed.

Official data showed the country's palm oil stocks fell to 1.93 million tonnes at the end of April, below the psychological two-million-tonne mark and sending the market to a one-month high on Monday, although prices came off on worries over lacklustre export demand.

In other markets, Brent futures slipped towards $102 a barrel on Wednesday on concerns about rising supplies from the United States and a bleak outlook for global demand growth.

In vegetable oil markets, U.S. soyoil for July delivery  fell 0.3 percent in late Asian trade. The most-active September soybean oil contract on the Dalian Commodities Exchange lost 2.5 percent.