Palm oil is expected to drop on increasing global supplies according to Mistry

According to Dorab Mistry, director at Godrej International Ltd., palm, the world’s most common cooking oil, may drop to the lowest level since 2009 by January as global supplies of edible oils grow larger and crude oil weakens. Futures are expected pull back to 2,000 ringgit a metric ton in Kuala Lumpur if Argentina and Brazil, the largest soybean cultivators after the U.S. harvest bigger crops and Brent crude drops below 100 USD a barrel. Prices are expected to stay above 2,200 ringgit in the next few weeks and will trade between 2,200 and 2,400 ringgit, according to Mistry who also said:...

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Soybeans reached four week high US weather concerns

US grain futures were extensively higher on Monday, with soybean prices increasing to a four-week high as traders focus on adverse weather conditions in the US Midwest and Great Plains region. Soybeans futures for September delivery traded at 13.0163 USD a bushel on the Chicago Mercantile Exchange, increasing 1.4%. September futures reached a session high of 13.0988 USD a bushel earlier in the trading session, the highest level since July 26. The September contract lowered 0.4% at 12.8320 USD a bushel on Friday. September soy prices soared 4.95% last week, the highest growth since July 2012....

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Grain futures recover, Soybeans rise due to US export demand

US grain futures recovered strength this Thursday, with front month soybean prices rising amid improvement in demand for US supplies. On the Chicago Mercantile Exchange, soybeans futures for May delivery increased 1% and traded at 14.1813 a bushel. The May contract increased 1.15% earlier in the session and hit a session high of 14.1938 USD a bushel. Soybean prices recovered after the US Department of Agriculture announced that US farmers sold 116,000 tons to unknown buyers for delivery in the year starting September 1st. Market analysts typically interpret sales listings to unknown...

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