MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch July 1
VEGOILS-Market Factors to Watch July 1
01/07/2014 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures slipped to a near two-week low on Monday as weakness in overseas soy markets weighed, although hopes of a recovery in demand curbed losses and helped the tropical oil post its firstly monthly gain in four.
* U.S. grain and soybean futures tumbled on Monday after the Agriculture Department reported higher-than-expected figures for U.S. soy plantings and June 1 corn and soy stocks.
* Brent crude fell toward $112 a barrel on Monday, hitting an 18-day low as did U.S. crude near $105, as investors grew less worried about potential supply disruptions from Iraq.
MARKET NEWS
* Global stock markets posted a fourth straight quarter of gains on Monday, aided by the loose monetary policies of major central banks that have helped drive risk appetite, while concerns about the world's economic health have underpinned government debt.
RELATED
> Malaysia's June palm exports up 5.8 pct m/m-ITS
> Malaysia's June palm oil exports rose 4.6 pct -SGS
> Philippines says pests damaged another 400,000 coconut trees last week
> Wheat yields up in Russia's key region as harvest gathers pace
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release Malaysia's July 1-10 palm oil export data on July 10.
> Industry regulator the Malaysian Palm Oil Board (MPOB) to release data on Malaysia's end-June palm oil stocks, exports and production on July 10.
Palm, soy and crude oil prices at 0053 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 DEC4 39.33 +0.18 39.03 39.38 1954
NYMEX CRUDE AUG4 105.51 +0.14 105.43 105.62 1329
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 slipped to a near two-week low on Monday as weakness in overseas soy markets weighed, although hopes of a recovery in demand curbed losses and helped the tropical oil post its firstly monthly gain in four.
* U.S. grain and soybean futures tumbled on Monday after the Agriculture Department reported higher-than-expected figures for U.S. soy plantings and June 1 corn and soy stocks.
* Brent crude fell toward $112 a barrel on Monday, hitting an 18-day low as did U.S. crude near $105, as investors grew less worried about potential supply disruptions from Iraq.
MARKET NEWS
* Global stock markets posted a fourth straight quarter of gains on Monday, aided by the loose monetary policies of major central banks that have helped drive risk appetite, while concerns about the world's economic health have underpinned government debt.
RELATED
> Malaysia's June palm exports up 5.8 pct m/m-ITS
> Malaysia's June palm oil exports rose 4.6 pct -SGS
> Philippines says pests damaged another 400,000 coconut trees last week
> Wheat yields up in Russia's key region as harvest gathers pace
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release Malaysia's July 1-10 palm oil export data on July 10.
> Industry regulator the Malaysian Palm Oil Board (MPOB) to release data on Malaysia's end-June palm oil stocks, exports and production on July 10.
Palm, soy and crude oil prices at 0053 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 DEC4 39.33 +0.18 39.03 39.38 1954
NYMEX CRUDE AUG4 105.51 +0.14 105.43 105.62 1329
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