MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch May 29
VEGOILS-Market Factors to Watch May 29
29/05/2014 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures ended lower on Wednesday, falling for a fourth straight day as an anticipation of slowing demand for the tropical oil weighed, although firm crude oil markets and a weakening ringgit kept prices propped up.
* U.S. wheat fell on Wednesday, extending a week-long decline on investment fund selling tied to favorable conditions for crops in the world's top producer and exporter.
* U.S. crude fell more than $1 a barrel on Wednesday as traders took profits ahead of a government inventory report that is expected to show a build in crude stocks, while Brent edged lower, propped up by geopolitical tensions in Ukraine and Libya.
MARKET NEWS
* Asian shares consolidated their recent gains on Thursday while global bond prices surged, pushing their yields to multi-month lows, both supported by expectations of easy monetary policy.
RELATED
> Philippines buys 83,475 T soymeal from U.S., Argentina -trade
> Australian organic farmer loses landmark GMO contamination case
> U.S. wheat falls for 6th day; corn, soy rebound
> EU backs deal to limit use of food-based biofuels
> Cotton hits 4-month low as data shows sudden planting pick-up
> U.S. farm groups seek to exclude Japan from Pacific trade talks
> EXCLUSIVE-Deadly pig virus re-infects US farm, fuels supply fears
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release Malaysia's May 1-31 palm oil export data on June 2.
Palm, soy and crude oil prices at 0026 GMT
Contract Month Last Change Low High Volume
MY PALM OIL JUN4 0 +0.00 0 0 0
MY PALM OIL JUL4 0 +0.00 0 0 0
MY PALM OIL AUG4 0 +0.00 0 0 0
CHINA PALM OLEIN SEP4 0 +0.00 0 0 0
CHINA SOYOIL SEP4 0 +0.00 0 0 0
CBOT SOY OIL JUL4 39.78 +0.15 39.66 39.80 742
NYMEX CRUDE JUL4 103.00 +0.28 102.94 103.11 1410
Palm oil prices in Malaysian ringgit per tonne
CBOT soy oil in U.S. cents per pound
Dalian soy oil and RBD palm olein in Chinese yuan per tonne
Crude in U.S. dollars per barrel
FUNDAMENTALS
* Malaysian palm oil futures ended lower on Wednesday, falling for a fourth straight day as an anticipation of slowing demand for the tropical oil weighed, although firm crude oil markets and a weakening ringgit kept prices propped up.
* U.S. wheat fell on Wednesday, extending a week-long decline on investment fund selling tied to favorable conditions for crops in the world's top producer and exporter.
* U.S. crude fell more than $1 a barrel on Wednesday as traders took profits ahead of a government inventory report that is expected to show a build in crude stocks, while Brent edged lower, propped up by geopolitical tensions in Ukraine and Libya.
MARKET NEWS
* Asian shares consolidated their recent gains on Thursday while global bond prices surged, pushing their yields to multi-month lows, both supported by expectations of easy monetary policy.
RELATED
> Philippines buys 83,475 T soymeal from U.S., Argentina -trade
> Australian organic farmer loses landmark GMO contamination case
> U.S. wheat falls for 6th day; corn, soy rebound
> EU backs deal to limit use of food-based biofuels
> Cotton hits 4-month low as data shows sudden planting pick-up
> U.S. farm groups seek to exclude Japan from Pacific trade talks
> EXCLUSIVE-Deadly pig virus re-infects US farm, fuels supply fears
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release Malaysia's May 1-31 palm oil export data on June 2.
Palm, soy and crude oil prices at 0026 GMT
Contract Month Last Change Low High Volume
MY PALM OIL JUN4 0 +0.00 0 0 0
MY PALM OIL JUL4 0 +0.00 0 0 0
MY PALM OIL AUG4 0 +0.00 0 0 0
CHINA PALM OLEIN SEP4 0 +0.00 0 0 0
CHINA SOYOIL SEP4 0 +0.00 0 0 0
CBOT SOY OIL JUL4 39.78 +0.15 39.66 39.80 742
NYMEX CRUDE JUL4 103.00 +0.28 102.94 103.11 1410
Palm oil prices in Malaysian ringgit per tonne
CBOT soy oil in U.S. cents per pound
Dalian soy oil and RBD palm olein in Chinese yuan per tonne
Crude in U.S. dollars per barrel