MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch June 26
VEGOILS-Market Factors to Watch June 26
26/06/2014 (Reuters) – The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures rose for a third session on Wednesday to their highest in nearly a month, after a small improvement in export data raised hopes of a recovery in demand, and as the ongoing conflict in Iraq propped up crude prices.
* U.S. wheat futures rose as buyers entered the market after prices hit a four-month low on Wednesday, while corn futures slipped for a third consecutive session on expectations for a bumper U.S. harvest.
* U.S. crude oil inched higher on Wednesday after news of a U.S. government decision to permit exports of lightly refined oil, while Brent oil fell as fears of supply cuts from Iraq receded.
MARKET NEWS
* U.S. stock investors ignored weak economic data and pushed equities higher on Wednesday, as drugmakers' shares rose and a Supreme Court ruling lifted major broadcaster stocks, while German bond yields hit the year's low on safe-haven bids.
RELATED
> Exporters sell U.S. corn, sorghum to unknown destinations-USDA
> Monsanto 3rd qtr profit down, but shares up on raised outlook
> China says to boost grain reserves, add storage capacity
> Malaysia's Jun 1-25 palm oil exports rose 0.4 pct -SGS
> Germany to propose law regulating GMO crops - report
> Malaysia's June 1-25 palm oil exports rise 3.0 pct m/m-ITS
> Dry weather hastens Brazil sugar output, hurts maturing crop
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release Malaysia's June palm oil export data on June 30.
Palm, soy and crude oil prices at 0030 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 40.77 +0.12 40.62 40.79 249
NYMEX CRUDE AUG4 106.66 +0.16 106.61 106.81 1555
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 for a third session on Wednesday to their highest in nearly a month, after a small improvement in export data raised hopes of a recovery in demand, and as the ongoing conflict in Iraq propped up crude prices.
* U.S. wheat futures rose as buyers entered the market after prices hit a four-month low on Wednesday, while corn futures slipped for a third consecutive session on expectations for a bumper U.S. harvest.
* U.S. crude oil inched higher on Wednesday after news of a U.S. government decision to permit exports of lightly refined oil, while Brent oil fell as fears of supply cuts from Iraq receded.
MARKET NEWS
* U.S. stock investors ignored weak economic data and pushed equities higher on Wednesday, as drugmakers' shares rose and a Supreme Court ruling lifted major broadcaster stocks, while German bond yields hit the year's low on safe-haven bids.
RELATED
> Exporters sell U.S. corn, sorghum to unknown destinations-USDA
> Monsanto 3rd qtr profit down, but shares up on raised outlook
> China says to boost grain reserves, add storage capacity
> Malaysia's Jun 1-25 palm oil exports rose 0.4 pct -SGS
> Germany to propose law regulating GMO crops - report
> Malaysia's June 1-25 palm oil exports rise 3.0 pct m/m-ITS
> Dry weather hastens Brazil sugar output, hurts maturing crop
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release Malaysia's June palm oil export data on June 30.
Palm, soy and crude oil prices at 0030 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 40.77 +0.12 40.62 40.79 249
NYMEX CRUDE AUG4 106.66 +0.16 106.61 106.81 1555
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