MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch June 24
VEGOILS-Market Factors to Watch June 24
24/06/2014 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures rose to a near one-month high on Monday, tracking firm soyoil markets and as expectations of Ramadan-linked demand and rising crude prices supported.
* U.S. corn futures fell on Monday, retreating from a two-week high hit early in the day, as expectations for a massive harvest in the United States overshadowed concerns that some areas had received too much rain.
* Brent crude recorded its largest one-day decline in seven weeks on Monday, falling toward $114 a barrel as oil exports from Iraq remained unaffected by Islamic insurgents' continued advance on Baghdad.
MARKET NEWS
* Global equity markets edged lower and the dollar weakened against the yen on Monday after euro zone business activity for June showed growth slowing, with activity in France contracting at the fastest pace in four months.
RELATED
> U.S. corn, soy conditions to slip on too much rain - analysts
> India to raise import duty on sugar, promote exports
> Mexican coffee exports down 20 pct in May
> Ivory Coast rains threaten cocoa mid-crop in some regions
> A flying beetle in India threatens to push up latte prices
> POLL-S.Africa's 2014 maize output forecast seen slightly up
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release Malaysia's June 1-25 palm oil export data on June 25.
Palm, soy and crude oil prices at 0021 GMT
Contract Month Last Change Low High Volume
MY PALM OIL JUL4 #N/A #N/A #N/A #N/A #N/A
MY PALM OIL AUG4 #N/A #N/A #N/A #N/A #N/A
MY PALM OIL SEP4 #N/A #N/A #N/A #N/A #N/A
CHINA PALM OLEIN JAN5 #N/A #N/A #N/A #N/A #N/A
CHINA SOYOIL JAN5 #N/A #N/A #N/A #N/A #N/A
CBOT SOY OIL JUL4 40.57 -0.12 40.55 40.68 526
NYMEX CRUDE AUG4 105.63 -0.53 105.25 106.08 4845
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 rose to a near one-month high on Monday, tracking firm soyoil markets and as expectations of Ramadan-linked demand and rising crude prices supported.
* U.S. corn futures fell on Monday, retreating from a two-week high hit early in the day, as expectations for a massive harvest in the United States overshadowed concerns that some areas had received too much rain.
* Brent crude recorded its largest one-day decline in seven weeks on Monday, falling toward $114 a barrel as oil exports from Iraq remained unaffected by Islamic insurgents' continued advance on Baghdad.
MARKET NEWS
* Global equity markets edged lower and the dollar weakened against the yen on Monday after euro zone business activity for June showed growth slowing, with activity in France contracting at the fastest pace in four months.
RELATED
> U.S. corn, soy conditions to slip on too much rain - analysts
> India to raise import duty on sugar, promote exports
> Mexican coffee exports down 20 pct in May
> Ivory Coast rains threaten cocoa mid-crop in some regions
> A flying beetle in India threatens to push up latte prices
> POLL-S.Africa's 2014 maize output forecast seen slightly up
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release Malaysia's June 1-25 palm oil export data on June 25.
Palm, soy and crude oil prices at 0021 GMT
Contract Month Last Change Low High Volume
MY PALM OIL JUL4 #N/A #N/A #N/A #N/A #N/A
MY PALM OIL AUG4 #N/A #N/A #N/A #N/A #N/A
MY PALM OIL SEP4 #N/A #N/A #N/A #N/A #N/A
CHINA PALM OLEIN JAN5 #N/A #N/A #N/A #N/A #N/A
CHINA SOYOIL JAN5 #N/A #N/A #N/A #N/A #N/A
CBOT SOY OIL JUL4 40.57 -0.12 40.55 40.68 526
NYMEX CRUDE AUG4 105.63 -0.53 105.25 106.08 4845
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