MARKET DEVELOPMENT
VEGOILSPALM OIL-Market Factors To Watch Aug 5(Monday)
VEGOILSPALM OIL-Market Factors To Watch Aug 5(Monday)
05/08/2013 (The Star) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures ended slightly lower on Friday, as traders booked profits ahead of the weekend, although losses were capped by an export jump in the second half of July that could keep a lid on stocks in the world's No.2 producer.
* Oil futures fell on Friday as U.S. jobs data came in below expectations, tempering economic optimism that had pushed Brent crude during the session to its highest level in four months, and prompting some investors to take profits.
MARKET NEWS
* Slower-than-expected U.S. jobs growth pushed Treasury yields and the dollar lower while stocks turned upward in late trading on Friday as investors grew cautious on the outlook for U.S. economic growth and Federal Reserve plans for trimming stimulus.\
* Rainy weather around the U.S. Midwest pressured corn futures on Friday, pushing prices to new 34-month lows on increasing expectations for a big crop this fall, traders said.
* Oil prices fell on Friday after weak U.S. job numbers disappointed investors, but crude still posted a weekly gain, and copper closed the day up modestly and notched its first weekly gain in three weeks.
RELATED NEWS
> Malaysia July palm stocks seen at lowest in over 2 years-poll
> Indonesia revises down 2013 output of sugar and CPO
> Rains pour doubt on India's soybean, cotton, pulses output
> U.S. corn, soy fall as rain hits Midwest; wheat firm
> ICE coffee climbs above 4-year low, cocoa turns lower
> India wheat futures likely to stay flat next week
DATA/EVENTS:
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance will release Aug. 1-10 exports data on Aug. 12.
> Industry regulator the Malaysian Palm Oil Board will push back the release of its July stocks and output data to Aug. 14 due to the Eid al-Fitr holiday.
> Malaysian financial markets will close on Aug. 8 and Aug. 9 for
FUNDAMENTALS
* Malaysian palm oil futures ended slightly lower on Friday, as traders booked profits ahead of the weekend, although losses were capped by an export jump in the second half of July that could keep a lid on stocks in the world's No.2 producer.
* Oil futures fell on Friday as U.S. jobs data came in below expectations, tempering economic optimism that had pushed Brent crude during the session to its highest level in four months, and prompting some investors to take profits.
MARKET NEWS
* Slower-than-expected U.S. jobs growth pushed Treasury yields and the dollar lower while stocks turned upward in late trading on Friday as investors grew cautious on the outlook for U.S. economic growth and Federal Reserve plans for trimming stimulus.\
* Rainy weather around the U.S. Midwest pressured corn futures on Friday, pushing prices to new 34-month lows on increasing expectations for a big crop this fall, traders said.
* Oil prices fell on Friday after weak U.S. job numbers disappointed investors, but crude still posted a weekly gain, and copper closed the day up modestly and notched its first weekly gain in three weeks.
RELATED NEWS
> Malaysia July palm stocks seen at lowest in over 2 years-poll
> Indonesia revises down 2013 output of sugar and CPO
> Rains pour doubt on India's soybean, cotton, pulses output
> U.S. corn, soy fall as rain hits Midwest; wheat firm
> ICE coffee climbs above 4-year low, cocoa turns lower
> India wheat futures likely to stay flat next week
DATA/EVENTS:
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance will release Aug. 1-10 exports data on Aug. 12.
> Industry regulator the Malaysian Palm Oil Board will push back the release of its July stocks and output data to Aug. 14 due to the Eid al-Fitr holiday.
> Malaysian financial markets will close on Aug. 8 and Aug. 9 for