Malaysia CPO ends tad down on firm ringgit vs doller

Ram Gopal Yadav (7 years ago)

Futures contracts of crude palm oil ended marginally lower on the Bursa Malaysia Derivatives due to a strong ringgit against the dollar. Expectations of a fall in the Southeast Asian country’s palm oil exports in November due to low demand further weighed on the prices on the Malaysian bourse. The most-active February contract of crude palm oil on the Malaysian bourse closed at 2,587 ringgits (40,650.30 rupees) per metric tonne, down 0.1% from the previous close.

China’s Appetite for Soybeans Continues to Grow

Ram Gopal Yadav (7 years ago)

New data on Chinese export demand for soybeans released shows no slowing down in demand for U.S. soy protein. Figures released show China continues to be a good customer of the American soybean farmer. To date imported close to 79 million metric tons of soybeans. That is up from the same period last year when they imported 66.7.

Nigeria imported 450,000 tons of crude palm oil since beginning of year

Ram Gopal Yadav (7 years ago)

Despite the high exchange rate and its price, Nigeria has imported 450,000 tons of crude palm oil valued at N116.3billion ($323.1 million) since the beginning of the year. The shipment was increased by 12 per cent as global price hit $718 per metric ton. The price of the commodity, which was $663 per metric ton in July, was increased to $718 per ton this month (November) based on high demand by indigenous manufacturers. The country domestic production currently stands at 970,000 metric tons, while demand is 2.7million tons, leaving a deficit of 1.73million.

CBOT soybean down as US weekly export sales decline

Ram Gopal Yadav (7 years ago)

Futures contracts of soybean on CBOT traded lower due to lower-than-expected US export sales data. US exported 869,086 metric tonne soybean during the week ended Nov 16, down 23% on week. Favourable weather in major growing regions of Argentina further weighed on the prices. The most active January contract traded at $9.9250 per bushel, down 0.4% from the previous close.

NCDEX soybean futures end down on profit booking

Ram Gopal Yadav (7 years ago)

Futures contracts of soybean gave up early gains to close lower on the NCDEX owing to profit booking. The most-active December contract ended down 0.5% from the previous close. Prices rose earlier on talks of an increase in incentive on export of oilmeals to 10% from 5%.