MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch June 3
VEGOILS-Market Factors to Watch June 3
03/06/2014 (Reuters) – The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures fell for a seventh straight session on Monday to hit their lowest in nearly seven-and-a-half months, as weak soyoil prices and disappointing export data dragged on the tropical oil.
* U.S. soybean futures rose on Monday on signs of strong export demand that threatened to further deplete thin U.S. supplies, traders said.
* Brent and U.S. crude oil futures fell in choppy trading on Monday, weighed on by a stronger dollar and recent data showing rising OPEC oil production.
MARKET NEWS
* Nikkei led Asian shares higher on Tuesday, supported by solid U.S. and Chinese manufacturing data, while the euro dragged its feet near a 3 1/2-month low on expectations of fresh monetary easing by the European Central Bank.
RELATED
> Weather favours Black Sea grain crops, brightens forecasts
> Strategie Grains lifts EU rapeseed crop outlook to 21.8 MT
> Malaysia's May palm exports up 7.8 pct m/m-ITS
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release Malaysia's June 1-10 palm oil export data on June 10.
> Industry regulator the Malaysian Palm Oil Board (MPOB) to release data on Malaysia's end-May palm oil stocks, exports and production on June 10.
Palm, soy and crude oil prices at 0044 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 38.31 +0.00 38.28 38.40 649
NYMEX CRUDE JUL4 102.47 +0.01 102.36 102.65 2370
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 fell for a seventh straight session on Monday to hit their lowest in nearly seven-and-a-half months, as weak soyoil prices and disappointing export data dragged on the tropical oil.
* U.S. soybean futures rose on Monday on signs of strong export demand that threatened to further deplete thin U.S. supplies, traders said.
* Brent and U.S. crude oil futures fell in choppy trading on Monday, weighed on by a stronger dollar and recent data showing rising OPEC oil production.
MARKET NEWS
* Nikkei led Asian shares higher on Tuesday, supported by solid U.S. and Chinese manufacturing data, while the euro dragged its feet near a 3 1/2-month low on expectations of fresh monetary easing by the European Central Bank.
RELATED
> Weather favours Black Sea grain crops, brightens forecasts
> Strategie Grains lifts EU rapeseed crop outlook to 21.8 MT
> Malaysia's May palm exports up 7.8 pct m/m-ITS
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release Malaysia's June 1-10 palm oil export data on June 10.
> Industry regulator the Malaysian Palm Oil Board (MPOB) to release data on Malaysia's end-May palm oil stocks, exports and production on June 10.
Palm, soy and crude oil prices at 0044 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 38.31 +0.00 38.28 38.40 649
NYMEX CRUDE JUL4 102.47 +0.01 102.36 102.65 2370
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