Global grain and oilseed markets

"Yesterday, futures for Malaysian crude palm oil traded in a narrow range, following the dynamics of Dalian palm oil, while traders analyzed the flooding situation. So far, only the northern part of Malaysia has been affected by the heavy rains," reported a trader from Kuala Lumpur. According to the national emergency agency, over 11,000 people in seven states of Malaysia were affected by the flooding caused by heavy rains on Monday. According to traders, basis rates for soybeans shipped by barge to the U.S. Gulf Coast were mostly unchanged on Tuesday, driven by buying interest from Chinese importers and expectations of further soybean sales to the largest importer. This week, Chinese buyers requested offers for U.S. soybeans, but traders could not confirm whether any sales were completed. After a surge in purchases last week, Chinese importers made only small orders. Demand from other importers was restrained due to cheaper supplies available from Brazil. Basis rates for soybean ...