MARKET DEVELOPMENT
Palm Oil/Vegoils: Market Factors to Watch Aug 4 Monday
Palm Oil/Vegoils: Market Factors to Watch Aug 4 Monday
04/08/2014 (The Star) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Monday.
FUNDAMENTALS
* Malaysian palm oil futures rose on Friday, recording their first weekly gain in five and their biggest since late April, as a weaker local currency spurred buying interest for the ringgit-denominated palm feedstock.
* U.S. soybean futures fell on Friday as forecasts for rain in the U.S. Midwest added to expectations the crop should pass through key stages of development without stress, traders said.
* Brent and U.S. crude futures tumbled on Friday to the lowest settlement prices in months, as oversupply in the Atlantic basin and low demand outweighed worries over political tensions in the Middle East, North Africa and Ukraine.
MARKET NEWS
* Global equities markets dropped for a fourth day on Friday, with Wall Street again slumping as investors shrugged off economic data showing solid improvement in U.S. labor markets.
RELATED
> Japan PM tells Brazil 'Abenomics' working, time to do more business
> Brazil farmers may see corn price support this month - minister
> Canada toughens railway crop volume rules through harvest
> Japan to lend $200 mln to Brazil's Amaggi soy group
DATA/EVENTS
> Cargo surveyor Societe Generale de Surveillance to release July palm oil export data on August 4.
Palm, soy and crude oil prices at 2350 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 5614 -32.00 5610 5666 217530
CHINA SOYOIL JAN5 0 +0.00 0 0 0
CBOT SOY OIL DEC4 35.71 +0.00 0.00 0.00 0
NYMEX CRUDE SEP4 97.69 -0.19 97.62 97.79 1512
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 on Friday, recording their first weekly gain in five and their biggest since late April, as a weaker local currency spurred buying interest for the ringgit-denominated palm feedstock.
* U.S. soybean futures fell on Friday as forecasts for rain in the U.S. Midwest added to expectations the crop should pass through key stages of development without stress, traders said.
* Brent and U.S. crude futures tumbled on Friday to the lowest settlement prices in months, as oversupply in the Atlantic basin and low demand outweighed worries over political tensions in the Middle East, North Africa and Ukraine.
MARKET NEWS
* Global equities markets dropped for a fourth day on Friday, with Wall Street again slumping as investors shrugged off economic data showing solid improvement in U.S. labor markets.
RELATED
> Japan PM tells Brazil 'Abenomics' working, time to do more business
> Brazil farmers may see corn price support this month - minister
> Canada toughens railway crop volume rules through harvest
> Japan to lend $200 mln to Brazil's Amaggi soy group
DATA/EVENTS
> Cargo surveyor Societe Generale de Surveillance to release July palm oil export data on August 4.
Palm, soy and crude oil prices at 2350 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 5614 -32.00 5610 5666 217530
CHINA SOYOIL JAN5 0 +0.00 0 0 0
CBOT SOY OIL DEC4 35.71 +0.00 0.00 0.00 0
NYMEX CRUDE SEP4 97.69 -0.19 97.62 97.79 1512
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