ODJ China Soybean Futures Settle Mostly Up On Supply Concerns

SHANGHAI, April 25 (Dow Jones) - China's Dalian Commodity Exchange soybean futures settled mostly higher Thursday, as concerns over a possible supply shortage in the coming months sparked fresh rounds of buying, traders said "The volume of soybean imports can't be easily lifted to the previous level in the near term though the government has actually approved GMO imports," said Liu Xintao, a trader at Wingdao Hongxin Futures in Shandong. "Therefore, a supply shortage (of soybeans) is still going to happen in the coming months."

As reported, Qinhuangdao Jinhai Cereals & Oil Industry Co. has received the quarantine permit which enables the firm to accept imported cargoes containing genetically modified organisms. The Hebei-based trading firm was among seven Chinese firms granted labeling permits allowing the companies to buy GMO produce from foreign sources.

Soybean prices in Heilongjiang province, northeast China's major producing area, climbed to 1,865 yuan ($1=CNY8.28) a metric ton from CNY1,860/ton Wednesday.Seven of eight soybean contracts traded in Dalian rose by CNY5-CNY9/ton, with the most actively traded November 2002 adding CNY7/ton to CNY2,000/ton in a trading range of CNY1,996/ton-CNY2,006/ton.

Bucking the trend was the spot May contract which slid CNY3/ton to CNY2,171/ton. Soymeal futures settled mixed in lackluster sessions.

Trade volume in Dalian soybean futures market shrank to 237,208 lots from Wednesday's 588,542 lots. Open interest was 1,321,578 lots, higher than the previous 1,318,562 lots.

The right and obligation of both Parties

The right of Party A

The Party A have right to take documented complaint to the Party B when? Party B have broken some articles in the Contract or damaged the legal right and benefit of sended staffs by the Party A.The Party B should take a documented reply to the Party A within six working days after receive the the documented complaint.

The Obligation of the Party A:

(1) The Party A introduce fit staffs and deal with the procedure of? recruitment and sendment for staffs the Party B decide to recruit and show every concerned attest under the demand of the Party B.

(2)Urge sended staffs to abide the local law in the period of working for The Party B.

(3)Take in charge of sended staffs’ procedure of apply for passport for leave the country.

(4)Urge sended staffs to abide the recruitment contract made with the Party B,to obey the work arrangement,to guard the business secret of the Party B.

(5)Organize the amusement activity for sended staffs.

(6)Hear the suggest and advice from the Party B and improve work frequently.

The right of the Party B

Have right to choose staffs introduced by the Party A or self-decide employees under the business demand,but deal with recruitment and sendment procedure by the Party A.

>ODJ MDEX Palm Oil Futures End Mostly Unch; Mkt Lacks Direction

>KUALA LUMPUR, April 17 (Dow Jones) - Crude palm oil futures on the

>Malaysia Derivatives Exchange, or MDEX, closed mostly unchanged Wednesday in

>range-bound trading as the market continues to look for fresh leads, traders

>said.

>The benchmark July CPO contract closed at 1,182 ringgit ($1=MYR3.80) a

>metric ton, unchanged from Tuesday, after trading in a narrow range of

>MYR1,182-MYR1,193/ton.

>The contract opened higher, tracking higher soyoil values in Chicago, but

>the gains couldn't be sustained in the absence of strong consumer demand,

>traders said.

>"There has been a lot of talk of fresh demand from India. We are yet to

>see that in terms of actual buying. Besides, Chinese buying is slowing down,"

>a trader said.

>Traders said the market will continue to be range-bound until the next

>round of export estimates and the Palmis crop forecast next week.

>Cargo surveyors Intertek Testing Services and SGS (Malaysia) Bhd. are

>scheduled to issue Malaysian palm oil export estimates for the first 20 days

>of April Monday.

>Also Monday, private forecaster Palmis Management Bhd. is expected to

>issue its final forecasts for Malaysian palm oil output, exports and stocks in

>April.

>"Sellers are not aggressive amid a steady interest in the cash market.

>Buyers, on the other hand, are waiting for prices to fall further before

>contracting new shipments," a trader said.

>MDEX trading volume was marginally lower Wednesday at 985 lots, compared

>with 997 lots Tuesday, while open interest was unchanged at 10,098 lots. One

>lot is 25 tons.

> 

>(Closing MDEX CPO futures prices in MYR/ton.)

>Close Previous Change High Low

>May 02 1,178 1,177 Up 01 1,187 1,178

>Jun 02 1,181 1,181 Unch 1,191 1,181

>Jul 02 1,182 1,182 Unch 1,193 1,182

>Aug 02 1,188 1,185 Up 03 1,195 1,188

>ODJ Asian Cash Palm Oil Flat-Up; Fresh Demand Yet To Be Seen

>KUALA LUMPUR, April 17 (Dow Jones) - Cash palm oil prices were flat to

>marginally higher Wednesday tracking moderate gains in the futures market, but

>there is little evidence of fresh consumer interest, traders said.

>"Futures prices are up because of Chicago. That has provided some support

>to the cash market. But buyers are cautious at higher levels," a trader in

>Kuala Lumpur said.

>At 0815 GMT, the benchmark July CPO futures contract was at MYR1,190/ton

>($1=MYR3.8), up MYR8 from Tuesday's close.

>Soybean futures at the Chicago Board of Trade rallied sharply Tuesday on

>indications that nearby demand has been stronger than the market had

>anticipated.

>The National Oilseed Processors Association reported monthly crush for

>March at 145.37 million bushels, 4 million bushels higher than many analysts

>had been looking for and more than 10 million bushels above the previous

>month's crush.

>The most active July soyoil futures contract ended 15 points higher

>Tuesday at 16.76 cents a pound.

>Palm oil traders said the market got some support from talk that Egypt

>bought refined, bleached and deodorized palm olein and RBD palm stearin for

>June delivery.

>According to traders, Wilmar Trading sold to Egypt 10,000 tons of olein at

>$375/ton and 10,000 tons of stearin at $325/ton.

>"The downside to the market seems limited because (long) speculators who

>sold Monday to take profit are waiting to buy back if CPO falls to the

>MYR1,170/ton level," a trader in Singapore said.

>Most traders, however, expect the market to remain in a narrow range until

>the next round of export estimates. Cargo surveyors Intertek Testing

>Services and SGS (Malaysia) Bhd. are scheduled to issue April 1-20 palm oil

>export estimates Monday.

>In Malaysia, crude palm oil for spot shipment was offered unchanged at

>MYR1,185/ton Wednesday, delivered basis in South Malaysia. No trading has

>been reported so far.

>Refined, bleached and deodorized palm oil for spot shipment was offered

>higher at $325/ton, up $2.50, FOB Malaysian ports, while spot RBD olein was

>offered at $337.50/ton, up $2.50/ton FOB. No trading was reported in products

>either.

>In Indonesia, RBD palm olein in Jakarta was traded higher at 3,550 rupiah

>($1=IDR9,430) a kilogram, up IDR25, FOB Java Island. CPO in Medan was traded

>at IDR3,150/kg, up IDR23, delivered basis.

>Traders in Medan said supplies are tight as producers sold aggressively in

>recent months.