MARKET DEVELOPMENT
Palm Oil/Vegoils: Market Factors to Watch July 22 Tuesday
Palm Oil/Vegoils: Market Factors to Watch July 22 Tuesday
22/07/2014 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Tuesday.
FUNDAMENTALS
* Malaysian palm oil futures edged down on Monday, adding to losses chalked up in three straight weeks of declines, as weakness in soyoil and a firm ringgit weighed on the market, although news of an increase in exports limited the fall.
* U.S. corn futures fell 2 percent to a four-year low on Monday with all months notching contract lows as ideal weather in the heart of the Midwest signalled a bumper harvest, traders said.
* Oil prices rose on Monday as the threat of escalating tension between Russia and the West over the crisis in Ukraine mounted, while August U.S. crude zoomed higher prior to its expiry.
MARKET NEWS
* Major global stock markets fell and bond prices rallied on Monday as worries over conflicts in the Gaza Strip and Ukraine raised uncertainty for investors and kept them away from riskier assets.
* Gold prices jumped their most in a month on Thursday on geopolitical worries after a Malaysian jetliner crashed in eastern Ukraine, while other key commodities rose, too, on an improved demand outlook versus supply.
RELATED
> Malaysia's Jul 1-20 palm oil exports rose 10.6 pct -SGS
> Malaysia's July 1-20 palm oil exports up 7.8 pct - ITS
> U.S. corn, soy conditions seen steady with week ago -analysts
> U.S. corn drops to four-year low as weather stays favorable
> Rain in Ivory Coast fuels hopes for strong cocoa main crop
> ICE raw sugar jumps on short-covering, buy-stops; cocoa climbs
> Argentine grains shipments resume as strikes suspended
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release Malaysia's July 1-25 palm oil export data on July 25.
Palm, soy and crude oil prices at 0015 GMT
Contract Month Last Change Low High Volume
MY PALM OIL AUG4 0 +0.00 0 0 0
MY PALM OIL SEP4 0 +0.00 0 0 0
MY PALM OIL OCT4 0 +0.00 0 0 0
CHINA PALM OLEIN JAN5 5596 -92.00 5592 5676 303610
CHINA SOYOIL JAN5 0 +0.00 0 0 0
CBOT SOY OIL DEC4 36.35 +0.09 36.29 36.36 317
NYMEX CRUDE AUG4 104.64 +0.06 104.53 104.65 96
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 edged down on Monday, adding to losses chalked up in three straight weeks of declines, as weakness in soyoil and a firm ringgit weighed on the market, although news of an increase in exports limited the fall.
* U.S. corn futures fell 2 percent to a four-year low on Monday with all months notching contract lows as ideal weather in the heart of the Midwest signalled a bumper harvest, traders said.
* Oil prices rose on Monday as the threat of escalating tension between Russia and the West over the crisis in Ukraine mounted, while August U.S. crude zoomed higher prior to its expiry.
MARKET NEWS
* Major global stock markets fell and bond prices rallied on Monday as worries over conflicts in the Gaza Strip and Ukraine raised uncertainty for investors and kept them away from riskier assets.
* Gold prices jumped their most in a month on Thursday on geopolitical worries after a Malaysian jetliner crashed in eastern Ukraine, while other key commodities rose, too, on an improved demand outlook versus supply.
RELATED
> Malaysia's Jul 1-20 palm oil exports rose 10.6 pct -SGS
> Malaysia's July 1-20 palm oil exports up 7.8 pct - ITS
> U.S. corn, soy conditions seen steady with week ago -analysts
> U.S. corn drops to four-year low as weather stays favorable
> Rain in Ivory Coast fuels hopes for strong cocoa main crop
> ICE raw sugar jumps on short-covering, buy-stops; cocoa climbs
> Argentine grains shipments resume as strikes suspended
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release Malaysia's July 1-25 palm oil export data on July 25.
Palm, soy and crude oil prices at 0015 GMT
Contract Month Last Change Low High Volume
MY PALM OIL AUG4 0 +0.00 0 0 0
MY PALM OIL SEP4 0 +0.00 0 0 0
MY PALM OIL OCT4 0 +0.00 0 0 0
CHINA PALM OLEIN JAN5 5596 -92.00 5592 5676 303610
CHINA SOYOIL JAN5 0 +0.00 0 0 0
CBOT SOY OIL DEC4 36.35 +0.09 36.29 36.36 317
NYMEX CRUDE AUG4 104.64 +0.06 104.53 104.65 96
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