08 April 2011
Market Report
Palm oil futures rose slightly as consumers switch to palm at the expense of competing soya oil which has risen in price alongside soaring grain markets. Soybean prices traded both sides but closed lower ahead of the USDA’s monthly supply/demand report. Drier conditions through southern and central growing areas will favour mature crops and this will help improve conditions for the harvest. USDA report is slightly bearish on soya but market is still trading firm this afternoon
Currency
This week has seen the dollar weaken trading between 1.59 and 1.64 to the pound