MARKET DEVELOPMENT
VEGOILS/PALM OIL Market Factors To Watch Aug 6(Tuesday)
VEGOILS/PALM OIL Market Factors To Watch Aug 6(Tuesday)
06/08/2013 (The Star) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets Tuesday.
FUNDAMENTALS
* Malaysian palm oil futures slipped on Monday ahead of the Eid al-Fitr holidays later in the week, although prospects for tighter supplies curbed losses.
* Oil ended a hair lower on Monday after touching a four-month high last week, as data showing growth in the U.S. services sector helped recoup earlier losses.
MARKET NEWS
* Stocks on Wall Street retreated from record levels during a quiet trading day on Monday, while the dollar fell against the yen as investors weighed the likelihood of when the Federal Reserve will pare back its economic stimulus program.
* U.S. corn futures slid on Monday to their lowest level in nearly three years as outlooks for favourable crop weather encouraged forecasts for a record-large U.S. harvest.
* Commodities fell broadly for a second straight session on Monday, with grains markets leading the declines on technical selling and favorable crop weather while oil and gasoline dipped too on concerns of higher output.
RELATED NEWS
> Chicago pits going quiet, 165 years after shouting began
> China to auction 500,000 tonnes of soybeans from reserves
> Brazil's soy output unlikely to increase next season
> U.S. corn, soy health improves as temperatures stay cool
> World sugar surplus to shrink nearly 70 pct in 2013/14 -ISO
> ICE cocoa rallies to 3-month high, raw sugar ends lower
> INTERVIEW -Brazil to favor ethanol over sugar despite weaker
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance will release Aug. 1-10 exports data on Aug. 12.
> Malaysian Palm Oil Board to issue July palm
FUNDAMENTALS
* Malaysian palm oil futures slipped on Monday ahead of the Eid al-Fitr holidays later in the week, although prospects for tighter supplies curbed losses.
* Oil ended a hair lower on Monday after touching a four-month high last week, as data showing growth in the U.S. services sector helped recoup earlier losses.
MARKET NEWS
* Stocks on Wall Street retreated from record levels during a quiet trading day on Monday, while the dollar fell against the yen as investors weighed the likelihood of when the Federal Reserve will pare back its economic stimulus program.
* U.S. corn futures slid on Monday to their lowest level in nearly three years as outlooks for favourable crop weather encouraged forecasts for a record-large U.S. harvest.
* Commodities fell broadly for a second straight session on Monday, with grains markets leading the declines on technical selling and favorable crop weather while oil and gasoline dipped too on concerns of higher output.
RELATED NEWS
> Chicago pits going quiet, 165 years after shouting began
> China to auction 500,000 tonnes of soybeans from reserves
> Brazil's soy output unlikely to increase next season
> U.S. corn, soy health improves as temperatures stay cool
> World sugar surplus to shrink nearly 70 pct in 2013/14 -ISO
> ICE cocoa rallies to 3-month high, raw sugar ends lower
> INTERVIEW -Brazil to favor ethanol over sugar despite weaker
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance will release Aug. 1-10 exports data on Aug. 12.
> Malaysian Palm Oil Board to issue July palm