MARKET DEVELOPMENT
Palm Oil/Vegoils: Market Factors to Watch June 11 Wednesday
Palm Oil/Vegoils: Market Factors to Watch June 11 Wednesday
11/06/2014 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Wednesday.
FUNDAMENTALS
* Malaysian palm oil futures slipped to a one-week low on Tuesday after an industry report showed stocks in the world's second-largest producer hit a four-month high at the end of May, with sluggish demand adding pressure to prices.
* U.S. wheat futures fell to a 3-1/2 month low on Tuesday ahead of a monthly U.S. Department of Agriculture report that analysts expect will show rising domestic wheat stocks.
* Brent crude reversed course to end down on Tuesday, while U.S. oil also fell due to a stronger dollar and profit taking by traders following strong gains on Monday.
MARKET NEWS
* A worldwide measure of stocks was little changed on Tuesday, while U.S. Treasury yields touched one-month highs and the euro fell as the prospect of higher U.S. interest rates began to take hold in markets.
RELATED
> Malaysia May palm stocks climb to 4-mth high
> Malaysia's June 1-10 palm exports fell 0.3 pct m/m - ITS
> China's weekly state soy sales fall on quality concern
> PREVIEW-USDA seen paring U.S. 2013/14 soy stocks to 10-yr low
> Japan says emergence of El Nino weather pattern getting closer
> Brazil government raises wheat crop forecast, trims soy
> Olam sees third consecutive cocoa deficit in 2014/15
> Global cocoa demand growth to slow even as grinding soars -Blommer
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release Malaysia's June 1-15 palm oil export data on June 16.
Palm, soy and crude oil prices at 0027 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 38.94 +0.00 38.89 38.96 627
NYMEX CRUDE JUL4 104.36 +0.01 104.25 104.44 1186
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- Reuters
FUNDAMENTALS
* Malaysian palm oil futures slipped to a one-week low on Tuesday after an industry report showed stocks in the world's second-largest producer hit a four-month high at the end of May, with sluggish demand adding pressure to prices.
* U.S. wheat futures fell to a 3-1/2 month low on Tuesday ahead of a monthly U.S. Department of Agriculture report that analysts expect will show rising domestic wheat stocks.
* Brent crude reversed course to end down on Tuesday, while U.S. oil also fell due to a stronger dollar and profit taking by traders following strong gains on Monday.
MARKET NEWS
* A worldwide measure of stocks was little changed on Tuesday, while U.S. Treasury yields touched one-month highs and the euro fell as the prospect of higher U.S. interest rates began to take hold in markets.
RELATED
> Malaysia May palm stocks climb to 4-mth high
> Malaysia's June 1-10 palm exports fell 0.3 pct m/m - ITS
> China's weekly state soy sales fall on quality concern
> PREVIEW-USDA seen paring U.S. 2013/14 soy stocks to 10-yr low
> Japan says emergence of El Nino weather pattern getting closer
> Brazil government raises wheat crop forecast, trims soy
> Olam sees third consecutive cocoa deficit in 2014/15
> Global cocoa demand growth to slow even as grinding soars -Blommer
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release Malaysia's June 1-15 palm oil export data on June 16.
Palm, soy and crude oil prices at 0027 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 38.94 +0.00 38.89 38.96 627
NYMEX CRUDE JUL4 104.36 +0.01 104.25 104.44 1186
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- Reuters