MPOC: Malaysian palm oil stocks increase to 1.74 mln tonnes at end of April theborneopost.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theborneopost.com Daily Mail and Mail on Sunday newspapers.
The CME Group’s soybean market plunged to end the week. At the close, the March corn futures finished 23¾¢ lower at $5.00¼. May corn futures settled 23¼¢ lower at $5.03. March wheat futures closed 26¼¢ lower at $6.34¼. March soymeal futures settled $16.60 short term lower at $421.60. March soy oil futures closed 1.16 lower at 42.27¢ per pound. In the outside markets, the NYMEX crude oil market is $1.15 per barrel lower (-2.16%) at $51.98. The U.S. dollar is lower, and the Dow Jones Industrials closed 179 points lower (-0.57%) at 30,996 points. Jason Roose, U.S. Commodities, says that there is plenty of market support to go around. “Improving weather conditions in Argentina, support in the U.S. dollar and harvest in Brazil, and outside investors holding record-long positions have sent the grains sharply lower with many uncertainties still driving the markets. The weekend’s world weather will be closely watched,” Roose says.