11 Mar '13, 5am

Palm oil flat as hopes for lower stocks offset USDA data: SINGAPORE, March 11 — Malaysian palm oil futures wer...

Palm oil flat as hopes for lower stocks offset USDA data March 11, 2013 SINGAPORE, March 11 — Malaysian palm oil futures were flat today, as expectations for lower palm oil stocks in the country offset a slightly bearish US Department of Agriculture (USDA) report last week. The USDA raised its global stockpile estimate for soybeans against expectations of a slight decline, and as a result also increased inventory of soybean oil, a scenario that could shift some demand away from competing palm oil. The news of the higher soybean oil inventory will likely have a slight negative effect to crude palm oil prices. — file pic “By itself, the news of the higher soybean oil inventory should be slightly negative to crude palm oil prices as both commodities are commonly used as the substitute for each other,” Alan Lim Seong Chun, research analyst with Malaysia’s Kenanga Investment Ba...

Full article: http://www.themalaysianinsider.com/business/article/palm-...

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Drumbeat: March 11, 2013

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