MARKET DEVELOPMENT
Palm Oil/Vegoils: Market Factors to Watch June 12 Thursday
Palm Oil/Vegoils: Market Factors to Watch June 12 Thursday
12/06/2014 (The Star) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Thursday.
FUNDAMENTALS
* Malaysian palm oil futures slid to a near eight-month low on Wednesday as worries over rising edible oil supplies amid lagging demand weighed, although expectations of a potential El Nino hitting crops curbed losses.
* U.S. wheat futures fell to a 3-1/2 month low on Wednesday after the U.S. Department of Agriculture raised its forecasts of U.S. and world wheat ending stocks above trade expectations in a monthly report, traders said.
* Brent oil futures climbed toward $110 a barrel on Wednesday as violence in Iraq prompted worries about the supply outlook, while U.S. crude struggled to make gains near key levels of resistance.
MARKET NEWS
* A gauge of world stock markets retreated from recent highs on Wednesday, pressured by a lower growth forecast from the World Bank and a profit warning from Lufthansa, while Brent crude rose on fears of disrupted supply from Iraq as violence escalates.
RELATED
> Indonesia challenges EU over anti-dumping on biodiesel imports
> Abundant grain, soybean supplies on the way -USDA
> Morocco's OCP to buy 10 pct stake in Fertilizantes Heringer
> CME targets May 2015 for cocoa contract's 1st delivery month
> Wheat at 3-1/2-month low after USDA hikes world stocks view
> Coffee ends up almost 4 pct on Brazil crop worry; sugar down
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 0021 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 38.59 +0.17 38.48 38.63 848
NYMEX CRUDE JUL4 104.36 -0.04 104.35 104.53 945
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 a near eight-month low on Wednesday as worries over rising edible oil supplies amid lagging demand weighed, although expectations of a potential El Nino hitting crops curbed losses.
* U.S. wheat futures fell to a 3-1/2 month low on Wednesday after the U.S. Department of Agriculture raised its forecasts of U.S. and world wheat ending stocks above trade expectations in a monthly report, traders said.
* Brent oil futures climbed toward $110 a barrel on Wednesday as violence in Iraq prompted worries about the supply outlook, while U.S. crude struggled to make gains near key levels of resistance.
MARKET NEWS
* A gauge of world stock markets retreated from recent highs on Wednesday, pressured by a lower growth forecast from the World Bank and a profit warning from Lufthansa, while Brent crude rose on fears of disrupted supply from Iraq as violence escalates.
RELATED
> Indonesia challenges EU over anti-dumping on biodiesel imports
> Abundant grain, soybean supplies on the way -USDA
> Morocco's OCP to buy 10 pct stake in Fertilizantes Heringer
> CME targets May 2015 for cocoa contract's 1st delivery month
> Wheat at 3-1/2-month low after USDA hikes world stocks view
> Coffee ends up almost 4 pct on Brazil crop worry; sugar down
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 0021 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 38.59 +0.17 38.48 38.63 848
NYMEX CRUDE JUL4 104.36 -0.04 104.35 104.53 945
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