Palm | Kelapa Sawit

CHICAGO, May 27 (Reuters) - The U.S. soybean market set an eight-month high above $12 a bushel on Wednesday, fueled by the outlook for soy stocks in the world's largest exporter to shrink to a 32-year low if demand stays hot through August.
"In a nutshell, there is a legitimate concern about whether or not the U.S. is going to have sufficient supplies at the end of the marketing year," said Rich Feltes, senior vice president at MF Global Research.
The U.S. Agriculture Department this month forecast U.S. soy stockpiles will fall to 130 million bushels by the end of the 2008/09 marketing year on August 31 -- a 15-day supply and smallest since August 1994 when they dipped to 112 million.