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Pressure on Wheat futures mounted into the close on Tuesday.Chicago Wheat closed 0.145 to 0.1675 lower; Kansas City ended 0.16to 0.20 lower; and Minneapolis ended with losses of 0.1125 to0.145. Futures were little changed in after-hours trade. Futuresfaced pressure throughout the day amid increasing harvest activityand generally favorable results in Kansas. July Corn futures settled 0.005 lower, while the rest of the marketwas 0.115 to 0.16 lower. Aside from July Corn, most contracts endedon or near session lows. Futures mildly eased losses in after-hourstrade. Funds sold an estimated 7,000 contracts, 35-M bu of Corn onthe day. USDA surprised traders by keeping crop conditions ratingsunchanged Monday afternoon. Soybean futures favored a firmer tone throughout the day on supplyconcerns, with nearby's leading gains. Futures closed 0.055to 0.1275 higher. Jul Soybean extended gains in after-hours tradewhile most other contracts trimmed gains slightly. Traders werereminded of the disappointing South American crop this morning whenConab trimmed its Brazilian Soybean crop estimate to 66.37-M metrictons and lowered its export forecast. Lean Hog futures closed 0.125 to 0.525 higher in Y 2012 contracts,with the exception of the Jun contract, which finished 0.10 lower.Futures posted a high-range close. Northside potential for Jun Hogswas limited as the contract holds a 5.50-+ premium to the cashindex, which is projected + 0.77 to stand at 85.52 Wednesday. Live Cattle futures were choppy for much of the session, but fadedlate to close 0.25 to 0.775 lower, which was on session lows formost contracts. Cattle traders remain concerned with the globaleconomic picture and the impact that may have on Beef demand, whichweighed on futures late. That's overshadowing strength in theboxed Beef market and keeping traders comfortable with the discountfutures hold to the cash index. Brazil new-crop Soybean sales way ahead Brazilian Soybean producers have begun selling the 2012/13 cropearlier than ever before with 28% of next season's outputalready sold, four months before planting starts, local grainsanalysts Celeres said Monday. Strong Soybean prices and the weak real against the USD haveinduced local growers to lock in forward sales of the current andfuture crop at record levels, Celeres said. Economist Shayne Heffernan of Market Outlook Live Asia Markets Live Europe Markets Live USA Markets Live Agricultural Markets Live Commodities Market Download the Best Asia Fund Outline Linda Johnson, Business Development Director Private Client Group, Heffernan Capital Management Singapore 3 Raffles Place #07-01 Bharat Building Singapore 048617 Tel: +65 6329 6408 Fax: +65 6329 9699 Palm Oil rebounds on hopes for Eurozone Malaysian Palm Oil futures rebounded, tracking a recovery inoverseas markets as investors looked to policymakers for new actionto tackle the Eurozone's debt crisis. "The market is abit stronger today, basically on short covering and retracementafter the previous day's sharp fall," said a traderwith a foreign commodities brokerage in Malaysia. China, Pork price stabilizes China's Pork prices are gradually stabilizing after seeingcontinuous declines over the past several months, according tostatistics from a price monitoring system launched by the XinhuaNews Agency. Pork prices have seen a slower drop since mid-May and are showingsigns of steadying, with a slight increase of 0.1% Sunday comparedwith Saturday, the statistics showed. Prices have fallen since the Spring Festival holiday, as farmersincreased their pig stocks last year when prices rose, which droveup supplies and pushed prices down this year. Price regulators announced last month that frozen Pork will bepurchased from the market to increase national reserves, stop porkprices from plunging excessively and protect farmers against marketvolatility. Pork prices were the main driver of last year's sky-highconsumer price index (CPI) figure of 5.4%, which was well above thegovernment's control target of 4% for the year. Pork is the most widely consumed meat in China. Indonesia raises Palm Oil exports to Russia Indonesia wants to raise its exports of Palm Oil to Russia, asthere is a large opportunity to tap the country's market, thelocal media reported Wednesday. Deddy Saleh, director general for foreign trade at the TradeMinistry said that Indonesian officials had discussed the issuewith their Russian counterparts during the recent APEC FoodSecurity Ministerial Meeting in the Russian city of Kazan. Currently Indonesia's exports of Palm Oil only tapped about2% of the Russian Palm Oil market. "We keep looking for new markets, including Russia, which hasmarket potential [for crude palm oil or CPO] up to 2-M tons," the director was quoted by the Jakarta Globe as saying. Saleh said Indonesia might be able to export CPO directly, withoutthe help of 3rd parties, by sea to Vladivostok, a Russian city thathosts the country's largest port on the Pacific Ocean. Itwould then be distributed via railway networks. The executive director of the Indonesian Palm Oil Association(Gapki), Fadli Hasan, said Russia had been largely importing CPOfrom the Netherlands and Ukraine. "But the Palm Oil actually comes from Indonesia and Malaysia.And there remains a perception that CPO is not healthy, but I amsure demand for CPO will increase every year, especially becauseCPO prices are more competitive than those of other vegetable oils," he said. Last year, Indonesia exported 323,800 tons of Palm Oil, worthUS$357.8-M to Russia, approximately 2% of Indonesia's totalCPO exports. The figure is higher than the 250,000 tons exported inY 2010. Indonesia produced 20-M tons of CPO in Y 2011, 70% of which wasexported, mainly to China, India and Western Europe. The Indonesiangovernment aims to boost this year's CPO production to 25-Mtons and to increase its export volume to up to 18-M tons. Contact the Author Share Us. We are high quality suppliers, our products such as air core coils Manufacturer , China electromagnet coils for oversee buyer. To know more, please visits choke coil.
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