MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch May 27
VEGOILS-Market Factors to Watch May 27
27/05/2014 (Reuters) – The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures slid to their lowest in four-and-a-half months on Monday as the ringgit continued to advance and amid worries that festival-driven demand will fizzle out faster than expected.
* U.S. soybean futures eased on Friday as investors unwound spreads and squared positions ahead of the Memorial Day holiday weekend but the market still registered its strongest weekly advance in five weeks on worries about tight U.S. supplies.
* Brent crude eased to near $110 a barrel on Monday, down from last week's two-and-a-half month high, as worries over Ukraine eased slightly following a presidential election.
MARKET NEWS
* Italian assets surged and German shares hit all-time highs on Monday as solid election showings by pro-European forces in both countries provided an antidote to Eurosceptic gains in France, the UK and Greece.
RELATED
> Asia readies food security defences against El Nino threat
> Thai army rulers rush to placate rice farmers, boost economy
> Heavy rains cause damage on Ivory Coast cocoa plantations
> Soybeans slide, corn firms in pre-holiday consolidation
> World Bank offers Angola $1 billion to fund infra, agriculture
> Liffe cocoa hits highest level since 2011, ICE at 2-month top
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release Malaysia's May 1-30 palm oil export data on May 30.
Palm, soy and crude oil prices at 0002 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 40.31 -0.07 40.28 40.38 357
NYMEX CRUDE JUL4 104.24 -0.11 103.92 104.44 16250
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 slid to their lowest in four-and-a-half months on Monday as the ringgit continued to advance and amid worries that festival-driven demand will fizzle out faster than expected.
* U.S. soybean futures eased on Friday as investors unwound spreads and squared positions ahead of the Memorial Day holiday weekend but the market still registered its strongest weekly advance in five weeks on worries about tight U.S. supplies.
* Brent crude eased to near $110 a barrel on Monday, down from last week's two-and-a-half month high, as worries over Ukraine eased slightly following a presidential election.
MARKET NEWS
* Italian assets surged and German shares hit all-time highs on Monday as solid election showings by pro-European forces in both countries provided an antidote to Eurosceptic gains in France, the UK and Greece.
RELATED
> Asia readies food security defences against El Nino threat
> Thai army rulers rush to placate rice farmers, boost economy
> Heavy rains cause damage on Ivory Coast cocoa plantations
> Soybeans slide, corn firms in pre-holiday consolidation
> World Bank offers Angola $1 billion to fund infra, agriculture
> Liffe cocoa hits highest level since 2011, ICE at 2-month top
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release Malaysia's May 1-30 palm oil export data on May 30.
Palm, soy and crude oil prices at 0002 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 40.31 -0.07 40.28 40.38 357
NYMEX CRUDE JUL4 104.24 -0.11 103.92 104.44 16250
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