Wednesday, March 10, 2010

DJ Palm Oil's Discount To Soyoil May Narrow More -Mielke

KUALA LUMPUR (Dow Jones)--The discount palm oil to soyoil
prices will likely narrow further, and palm oil trade could
even trade at a slight premium soon, an industry analyst
said Wednesday.

A record soybean harvest this year may have some damping
effect on soyoil prices as palm oil prices strengthen on bullish
supply fundamentals, Thomas Mielke, editor-in-chief at Oilworld,
said at an industry conference.

Refined, bleached and deodorized palm oil's discount to
free-on-board Argentine soyoil has narrowed from around $100 a
ton to around $40/ton.

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