MARKET DEVELOPMENT
VEGOILS/PALM OIL Market Factors To Watch Aug 21(Wednesday)
VEGOILS/PALM OIL Market Factors To Watch Aug 21(Wednesday)
21/08/2013 (The Star) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures gained on Monday to their highest in over a month, tracking firm soybean markets and on investor optimism ahead of exports data due later this week.
* Chicago Board of Trade (CBOT) soybean futures eased on Tuesday after climbing to a two-month high in the previous session, with the market pressured by profit-taking and prospects for a big U.S. soybean harvest.
* U.S. crude oil futures fell sharply on Tuesday as traders sold to close out positions ahead of the front-month contract's expiration and in reaction to news the Seaway pipeline had shut down halting shipments from Oklahoma to the Gulf Coast.
MARKET NEWS
* U.S. bond yields retreated from two-year highs on Tuesday on revived safe-haven bids as prices on most world stock exchanges fell to the lowest level in over a month on concerns that less U.S. monetary stimulus will hamper global growth.
* U.S. crude oil prices tumbled their most in two months on Tuesday after news of a major crude pipeline closure raised fears about excess oil supplies, and worries about larger-than-expected inventories also weighed on cotton and arabica coffee.
RELATED NEWS
> TOUR-Good yields likely for Indiana's healthy corn, soy crops
> COLUMN-India's hefty soy crop may rebalance soymeal trade
> Malaysian planter Kulim's offer blocked for New Britain
> Malaysia's Aug 1-20 palm oil exports up 12.3 pct -SGS
> Malaysia's Aug 1-20 palm oil exports up 10.3 pct -ITS
FUNDAMENTALS
* Malaysian palm oil futures gained on Monday to their highest in over a month, tracking firm soybean markets and on investor optimism ahead of exports data due later this week.
* Chicago Board of Trade (CBOT) soybean futures eased on Tuesday after climbing to a two-month high in the previous session, with the market pressured by profit-taking and prospects for a big U.S. soybean harvest.
* U.S. crude oil futures fell sharply on Tuesday as traders sold to close out positions ahead of the front-month contract's expiration and in reaction to news the Seaway pipeline had shut down halting shipments from Oklahoma to the Gulf Coast.
MARKET NEWS
* U.S. bond yields retreated from two-year highs on Tuesday on revived safe-haven bids as prices on most world stock exchanges fell to the lowest level in over a month on concerns that less U.S. monetary stimulus will hamper global growth.
* U.S. crude oil prices tumbled their most in two months on Tuesday after news of a major crude pipeline closure raised fears about excess oil supplies, and worries about larger-than-expected inventories also weighed on cotton and arabica coffee.
RELATED NEWS
> TOUR-Good yields likely for Indiana's healthy corn, soy crops
> COLUMN-India's hefty soy crop may rebalance soymeal trade
> Malaysian planter Kulim's offer blocked for New Britain
> Malaysia's Aug 1-20 palm oil exports up 12.3 pct -SGS
> Malaysia's Aug 1-20 palm oil exports up 10.3 pct -ITS