VEGOILS-Palm oil gains as Malaysia floods fuel supply concerns
KUALA LUMPUR, Dec 20 (Reuters) - Malaysian palm oil futures rose for a third session on Tuesday, lifted by stronger rival oils and crude prices as flooding across the world's second-largest producer fuelled concerns over production and possible supply disruption.
The benchmark palm oil contract FCPOc3 for March delivery on the Bursa Malaysia Derivatives Exchange gained 52 ringgit, or 1.32%, to 3,981 ringgit ($897.83) a tonne during early trade.
FUNDAMENTALS
Wet weather conditions in Malaysia will prevail through late-December, raising flooding risks and disrupting supplies in the near term, Refinitiv Agriculture Research said in a note late Monday.
Oil prices rose in early trade, shored up by a weaker dollar and a U.S. plan to restock its Strategic Petroleum Reserve, but gains were limited by uncertainty over the impact of rising COVID-19 cases in China.
Stronger crude futures make palm a more attractive option for biodiesel feedstock.
Dalian's most-active soyoil contract DBYcv1 rose 0.2%, while its palm oil contract DCPcv1 gained 1%. Soyoil prices on the Chicago Board of Trade BOcv1 were up 0.4%.
Palm oil is biased to test a resistance of 4,029 ringgit per tonne, as it climbed above a lower resistance at 3,945 ringgit, Reuters technical analyst Wang Tao said.
MARKET NEWS
Asian share markets were trading mostly in negative territory on Tuesday, as investors anticipated a somewhat rocky road for China's unwinding of COVID restrictions and the prospect that U.S interest rates will rise higher than expected in 2023.
KUALA LUMPUR, Dec 20 (Reuters) - Malaysian palm oil futures rose for a third session on Tuesday, lifted by stronger rival oils and crude prices as flooding across the world's second-largest producer fuelled concerns over production and possible supply disruption.
The benchmark palm oil contract FCPOc3 for March delivery on the Bursa Malaysia Derivatives Exchange gained 52 ringgit, or 1.32%, to 3,981 ringgit ($897.83) a tonne during early trade.
FUNDAMENTALS
Wet weather conditions in Malaysia will prevail through late-December, raising flooding risks and disrupting supplies in the near term, Refinitiv Agriculture Research said in a note late Monday.
Oil prices rose in early trade, shored up by a weaker dollar and a U.S. plan to restock its Strategic Petroleum Reserve, but gains were limited by uncertainty over the impact of rising COVID-19 cases in China.
Stronger crude futures make palm a more attractive option for biodiesel feedstock.
Dalian's most-active soyoil contract DBYcv1 rose 0.2%, while its palm oil contract DCPcv1 gained 1%. Soyoil prices on the Chicago Board of Trade BOcv1 were up 0.4%.
Palm oil is biased to test a resistance of 4,029 ringgit per tonne, as it climbed above a lower resistance at 3,945 ringgit, Reuters technical analyst Wang Tao said.
MARKET NEWS
Asian share markets were trading mostly in negative territory on Tuesday, as investors anticipated a somewhat rocky road for China's unwinding of COVID restrictions and the prospect that U.S interest rates will rise higher than expected in 2023.
GRAINS-Soybeans tick higher, improved South American weather caps gains
SINGAPORE, Dec 20 (Reuters) - Chicago soybean futures edged higher on Tuesday, recouping some of last session's losses, although improved weather in key parts of Argentina and Brazil limited the upside potential in prices.
Wheat rose for the first time in three sessions.
FUNDAMENTALS
The most-active soybean contract on the Chicago Board of Trade (CBOT) Sv1 added 0.2% to $14.63-1/2 a bushel, as of 0108 GMT, corn Cv1 was unchanged at $6.47-1/4 a bushel and wheat Wv1 rose 0.4% to $7.51-1/4 a bushel.
Rains in parts of Argentina's corn and soybean growing areas over the weekend have boosted crop prospects. Beneficial weather in expected in Brazil.
Argentina is the world's leading exporter of processed soy, but its usually green Pampas plains have been hit by a historic drought that has preventing many farmers from planting their fields.
Rain showers crossed Argentina on Friday and Saturday, bringing needed moisture to just over half its corn and soy area, Commodity Weather Group said. More limited rains next week will allow crop stress to expand, the firm said.
Worries over a global economic downturn is likely to keep a mid on prices of agricultural products.
The U.S. Federal Reserve, the Bank of England and the European Central Bank last week revived investors' recession worries by signalling more interest rate rises to contain inflation.
In demand news, exporters struck deals to sell 141,000 tonnes of U.S. corn to Mexico and 132,000 tonnes of U.S. soybeans to unknown buyers, the U.S. Department of Agriculture said.
India is set to offer 2 to 3 million tonnes of wheat to bulk consumers such as flour millers and biscuit makers as part of efforts to cool record high prices, two government sources said, even as state reserves have dropped to the lowest in six years.
Commodity funds were net sellers of CBOT corn, wheat, soybean and soymeal futures contracts on Monday and net buyers of CBOT soyoil, traders said.
MARKET NEWS
U.S. stocks closed sharply lower to extend their three-day losing streak on Monday and Treasury yields advanced, with few catalysts to dissuade risk-off sentiment at the beginning of a likely low-volume, pre-holiday week.
SINGAPORE, Dec 20 (Reuters) - Chicago soybean futures edged higher on Tuesday, recouping some of last session's losses, although improved weather in key parts of Argentina and Brazil limited the upside potential in prices.
Wheat rose for the first time in three sessions.
FUNDAMENTALS
The most-active soybean contract on the Chicago Board of Trade (CBOT) Sv1 added 0.2% to $14.63-1/2 a bushel, as of 0108 GMT, corn Cv1 was unchanged at $6.47-1/4 a bushel and wheat Wv1 rose 0.4% to $7.51-1/4 a bushel.
Rains in parts of Argentina's corn and soybean growing areas over the weekend have boosted crop prospects. Beneficial weather in expected in Brazil.
Argentina is the world's leading exporter of processed soy, but its usually green Pampas plains have been hit by a historic drought that has preventing many farmers from planting their fields.
Rain showers crossed Argentina on Friday and Saturday, bringing needed moisture to just over half its corn and soy area, Commodity Weather Group said. More limited rains next week will allow crop stress to expand, the firm said.
Worries over a global economic downturn is likely to keep a mid on prices of agricultural products.
The U.S. Federal Reserve, the Bank of England and the European Central Bank last week revived investors' recession worries by signalling more interest rate rises to contain inflation.
In demand news, exporters struck deals to sell 141,000 tonnes of U.S. corn to Mexico and 132,000 tonnes of U.S. soybeans to unknown buyers, the U.S. Department of Agriculture said.
India is set to offer 2 to 3 million tonnes of wheat to bulk consumers such as flour millers and biscuit makers as part of efforts to cool record high prices, two government sources said, even as state reserves have dropped to the lowest in six years.
Commodity funds were net sellers of CBOT corn, wheat, soybean and soymeal futures contracts on Monday and net buyers of CBOT soyoil, traders said.
MARKET NEWS
U.S. stocks closed sharply lower to extend their three-day losing streak on Monday and Treasury yields advanced, with few catalysts to dissuade risk-off sentiment at the beginning of a likely low-volume, pre-holiday week.
Страны ЕС установили с 15 февраля 2023 года газовый потолок в размере 180 евро за 1 МВт*ч или $1900 за 1000 кубов. Это второй потолок цен. Первый нефть не выше $60 и URALS торгуется ниже $55.
The Indonesian Palm Oil Association (GAPKI) Secretary General Eddy Martono said that the national production of crude palm oil (CPO) is potential to decrease in 2023 due to the problem of fertilizers.
Malaysian palm oil futures rose for a third session on Tuesday, lifted by stronger rival oils and crude prices as flooding across the world's second-largest producer fuelled concerns over production and possible supply disruption.
The benchmark palm oil contract FCPOc3 for March delivery on the Bursa Malaysia Derivatives Exchange gained 52 ringgit, or 1.32%, to 3,981 ringgit ($897.83) a tonne during early trade.
The benchmark palm oil contract FCPOc3 for March delivery on the Bursa Malaysia Derivatives Exchange gained 52 ringgit, or 1.32%, to 3,981 ringgit ($897.83) a tonne during early trade.
"Malaysian stocks will be drawn down until May 2023 and will go below 2 million tonnes. The Indonesian B35 (blending) programme may keep stocks tight in the first half of 2023," Mistry told an industry conference on Saturday.
In Malaysia, the second biggest producer, palm oil stocks at the end of November fell for the first time in six months to 2.29 million tonnes as production slumped amid a slight pick-up in exports. Malaysia's palm oil output has been capped by labour shortages in 2022, but with those shortages easing, production could rise to around 19 million tonnes in 2023, Mistry, director of Indian consumer goods company Godrej International, said.
In Malaysia, the second biggest producer, palm oil stocks at the end of November fell for the first time in six months to 2.29 million tonnes as production slumped amid a slight pick-up in exports. Malaysia's palm oil output has been capped by labour shortages in 2022, but with those shortages easing, production could rise to around 19 million tonnes in 2023, Mistry, director of Indian consumer goods company Godrej International, said.
VEGOILS-Palm oil tracks soyoil higher, flood woes offer support
KUALA LUMPUR, Dec 21 (Reuters) - Malaysian palm oil futures rose on Wednesday, tracking overnight gains in rival soyoil, with concerns over flood-related supply disruptions in the world's second-largest producer also offering support.
The benchmark palm oil contract FCPOc3 for March delivery on the Bursa Malaysia Derivatives Exchange gained 75 ringgit, or 1.94%, to 3,944 ringgit ($889.29) a tonne during early trade.
FUNDAMENTALS
More than 70,000 people have been displaced this week as flooding worsens across several states in Malaysia, the world's second-largest palm oil producer, with heavy rains expected to persist until the year-end.
Exports from Malaysia during Dec 1-20 fell 4% from the previous month to 952,592 tonnes, cargo surveyor ITS said on Wednesday.
Dalian's most-active soyoil contract DBYcv1 fell 0.5% while its palm oil contract DCPcv1 eased 0.3%. Soyoil prices on the Chicago Board of Trade BOcv1 rose for a third day, after rising 2.2% overnight.
Palm oil is affected by price movements in related oils as they compete for a share in the global vegetable oils market.
Oil prices rose as U.S. crude stocks were seen falling last week, making palm oil a more attractive option for biofuel feedstock.
Palm oil looks neutral in a range of 3,861-3,945 ringgit per tonne, and an escape could suggest a direction, Reuters technical analyst Wang Tao said.
MARKET NEWS
U.S. stocks closed higher on Tuesday in a modest reversal of a four-day sell-off, but the greenback lost altitude and bond yields jumped in the wake of an unexpected policy pivot from the Bank of Japan (BOJ).
KUALA LUMPUR, Dec 21 (Reuters) - Malaysian palm oil futures rose on Wednesday, tracking overnight gains in rival soyoil, with concerns over flood-related supply disruptions in the world's second-largest producer also offering support.
The benchmark palm oil contract FCPOc3 for March delivery on the Bursa Malaysia Derivatives Exchange gained 75 ringgit, or 1.94%, to 3,944 ringgit ($889.29) a tonne during early trade.
FUNDAMENTALS
More than 70,000 people have been displaced this week as flooding worsens across several states in Malaysia, the world's second-largest palm oil producer, with heavy rains expected to persist until the year-end.
Exports from Malaysia during Dec 1-20 fell 4% from the previous month to 952,592 tonnes, cargo surveyor ITS said on Wednesday.
Dalian's most-active soyoil contract DBYcv1 fell 0.5% while its palm oil contract DCPcv1 eased 0.3%. Soyoil prices on the Chicago Board of Trade BOcv1 rose for a third day, after rising 2.2% overnight.
Palm oil is affected by price movements in related oils as they compete for a share in the global vegetable oils market.
Oil prices rose as U.S. crude stocks were seen falling last week, making palm oil a more attractive option for biofuel feedstock.
Palm oil looks neutral in a range of 3,861-3,945 ringgit per tonne, and an escape could suggest a direction, Reuters technical analyst Wang Tao said.
MARKET NEWS
U.S. stocks closed higher on Tuesday in a modest reversal of a four-day sell-off, but the greenback lost altitude and bond yields jumped in the wake of an unexpected policy pivot from the Bank of Japan (BOJ).
GRAINS-Soybeans up for 2nd session on Argentina weather, wheat firms
SINGAPORE, Dec 21 (Reuters) - Chicago soybean futures gained more ground on Wednesday, with lack of rains in Argentina underpinning the market, although slowing U.S. sales to China limited gains.
Wheat rose on concerns over crop damage in the United States.
FUNDAMENTALS
The most-active soybean contract on the Chicago Board of Trade (CBOT) Sv1 rose 0.2% to $14.81 a bushel, as of 0118 GMT, wheat Wv1 added 0.4% to $7.53-1/2 a bushel and corn CV1 gained 0.2% to $6.53 a bushel.
Rains in parts of Argentina's corn and soybean growing areas over the weekend have boosted crop prospects, but the world's leading exporter of processed soy has been hit by a historic drought that has prevented many farmers from planting.
Brazil, the world's biggest soybean exporter, is far less impacted by dry conditions, and is expected to begin harvesting soybeans by late-January.
China's November soybean imports from the United States fell 6.9% from a year earlier, data showed on Tuesday, after low U.S. river levels slowed shipping of beans to ports for export.
The world's biggest soybean buyer, China, imported 3.38 million tonnes of the oilseed from the United States last month, down from 3.63 million tonnes a year earlier, according to the General Administration of Customs.
For wheat, temperatures in the United States dropping well below freezing could damage winter wheat crops in parts of the Great Plains that haven't received protective snowcover.
Ukraine's Danube river ports have boosted grains transshipments by 42 times to an all-time high of 6.1 million tonnes so far in 2022, Ukraine's seaport authority said on Tuesday.
Commodity funds were net buyers of CBOT soybeans, soyoil, corn, wheat and soymeal futures contracts on Tuesday, traders said.
MARKET NEWS
U.S. stocks closed higher on Tuesday in a modest reversal of a four-day sell-off, but the greenback lost altitude and bond yields jumped in the wake of an unexpected policy pivot from the Bank of Japan (BOJ).
SINGAPORE, Dec 21 (Reuters) - Chicago soybean futures gained more ground on Wednesday, with lack of rains in Argentina underpinning the market, although slowing U.S. sales to China limited gains.
Wheat rose on concerns over crop damage in the United States.
FUNDAMENTALS
The most-active soybean contract on the Chicago Board of Trade (CBOT) Sv1 rose 0.2% to $14.81 a bushel, as of 0118 GMT, wheat Wv1 added 0.4% to $7.53-1/2 a bushel and corn CV1 gained 0.2% to $6.53 a bushel.
Rains in parts of Argentina's corn and soybean growing areas over the weekend have boosted crop prospects, but the world's leading exporter of processed soy has been hit by a historic drought that has prevented many farmers from planting.
Brazil, the world's biggest soybean exporter, is far less impacted by dry conditions, and is expected to begin harvesting soybeans by late-January.
China's November soybean imports from the United States fell 6.9% from a year earlier, data showed on Tuesday, after low U.S. river levels slowed shipping of beans to ports for export.
The world's biggest soybean buyer, China, imported 3.38 million tonnes of the oilseed from the United States last month, down from 3.63 million tonnes a year earlier, according to the General Administration of Customs.
For wheat, temperatures in the United States dropping well below freezing could damage winter wheat crops in parts of the Great Plains that haven't received protective snowcover.
Ukraine's Danube river ports have boosted grains transshipments by 42 times to an all-time high of 6.1 million tonnes so far in 2022, Ukraine's seaport authority said on Tuesday.
Commodity funds were net buyers of CBOT soybeans, soyoil, corn, wheat and soymeal futures contracts on Tuesday, traders said.
MARKET NEWS
U.S. stocks closed higher on Tuesday in a modest reversal of a four-day sell-off, but the greenback lost altitude and bond yields jumped in the wake of an unexpected policy pivot from the Bank of Japan (BOJ).
Shortage of labour in palm oil sector to ease next year, says MPOB DG
KUALA LUMPUR: Acute labour shortages impacting the domestic palm oil sector will not be fully resolved next year, despite industry players and government agencies shifting their attention to other countries for labour resources. Malaysia Palm Oil Board (MPOB) director-general Datuk Dr Ahmad Parveez Ghulam Kadir said the situation would likely improve next year as the […]
KUALA LUMPUR: Acute labour shortages impacting the domestic palm oil sector will not be fully resolved next year, despite industry players and government agencies shifting their attention to other countries for labour resources. Malaysia Palm Oil Board (MPOB) director-general Datuk Dr Ahmad Parveez Ghulam Kadir said the situation would likely improve next year as the […]
Malaysian Palm Oil Council
Shortage of labour in palm oil sector to ease next year, says MPOB DG
Transit of Ukrainian grain through Belarus is impossible
There are currently no objective chances for organizing the transit of Ukrainian goods through Belarus due to security risks. This opinion was expressed by the Deputy Minister of Economy, Trade Representative of Ukraine Taras Kachka.
There are currently no objective chances for organizing the transit of Ukrainian goods through Belarus due to security risks. This opinion was expressed by the Deputy Minister of Economy, Trade Representative of Ukraine Taras Kachka.
People Living with HIV/AIDS – What Should They Eat?
Diet plays an important role for people living with HIV/AIDS as good nutrition can strengthen one’s body immunity to pave the way for a better quality of life (QoL).
Diet plays an important role for people living with HIV/AIDS as good nutrition can strengthen one’s body immunity to pave the way for a better quality of life (QoL).
Malaysian Palm Oil Council
People Living with HIV/AIDS – What Should They Eat?
Australia: Biofuels Annual
Ethanol consumption in Australia is forecast to remain stable in 2022 at only 1.1 percent of the gasoline pool, and biodiesel is forecast to increase moderately from very low levels but remain at less than 0.1 percent of the total diesel pool. Australia has very large feedstock (grains and molasses) supplies for bioethanol as well as robust supplies of feedstock (canola, tallow and used cooked oil) for biodiesel production. However, only a very small amount of these are used for domestic biofuels production. There is no federal government subsidy, tax credit or mandate supporting the production or use of biofuels. Only two states have biofuel programs with ethanol and biodiesel mandates, but these mandates are far from being reached
Ethanol consumption in Australia is forecast to remain stable in 2022 at only 1.1 percent of the gasoline pool, and biodiesel is forecast to increase moderately from very low levels but remain at less than 0.1 percent of the total diesel pool. Australia has very large feedstock (grains and molasses) supplies for bioethanol as well as robust supplies of feedstock (canola, tallow and used cooked oil) for biodiesel production. However, only a very small amount of these are used for domestic biofuels production. There is no federal government subsidy, tax credit or mandate supporting the production or use of biofuels. Only two states have biofuel programs with ethanol and biodiesel mandates, but these mandates are far from being reached
За неделю Новороссийск отгрузил более полумиллиона тонн зерна
За неделю с 12 по 18 декабря 2022 г. зерновые терминалы Новороссийска погрузили на суда 506,3 тыс. т зерна. Объемы погрузки пшеницы составили 465,4 тыс. т, ячменя – 40,9 тыс. т. Пшеница будет поставлена в Египет (157,5 тыс. т), Пакистан (66,0 тыс. т), Турцию (63,5 тыс. т), Саудовскую Аравию (60,2 тыс. т) и др. страны. Весь ячмень отправлен в Иран - ГК ТБИ/Logistic OS.
За неделю с 12 по 18 декабря 2022 г. зерновые терминалы Новороссийска погрузили на суда 506,3 тыс. т зерна. Объемы погрузки пшеницы составили 465,4 тыс. т, ячменя – 40,9 тыс. т. Пшеница будет поставлена в Египет (157,5 тыс. т), Пакистан (66,0 тыс. т), Турцию (63,5 тыс. т), Саудовскую Аравию (60,2 тыс. т) и др. страны. Весь ячмень отправлен в Иран - ГК ТБИ/Logistic OS.
Malaysian palm oil futures gave up early gains to trade lower on Tuesday, weighed by data showing weakening export demand in December.
The benchmark palm oil contract FCPOc3 for March delivery on the Bursa Malaysia Derivatives Exchange fell 46 ringgit, or 1.17%, to 3,883 ringgit ($876.13) a tonne by the midday break.
Total market volume has declined sharply in the past week to its lowest since March 28.
Exports from Malaysia during Dec 1-20 fell 4% from the previous month to 952,592 tonnes, cargo surveyor ITS said.
The benchmark palm oil contract FCPOc3 for March delivery on the Bursa Malaysia Derivatives Exchange fell 46 ringgit, or 1.17%, to 3,883 ringgit ($876.13) a tonne by the midday break.
Total market volume has declined sharply in the past week to its lowest since March 28.
Exports from Malaysia during Dec 1-20 fell 4% from the previous month to 952,592 tonnes, cargo surveyor ITS said.