MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Aug 15
VEGOILS-Market Factors to Watch Aug 15
15/08/2014 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures slid to touch a near five-year low on Thursday, following losses in overseas soy markets, and further dragged by forecasts of abundant supply of competing oilseeds alongside an expected surge in Southeast Asian palm output.
* New-crop U.S. soybean futures rebounded on Thursday from a contract low setearlier in the session, while corn topped a one-week high in a recovery from recent losses and wheat futures ended a five-day slide.
* Crude oil prices fell more than $2 a barrel on both sides of the Atlantic on Thursday, sunk by weak economic data hinting at softening oil demand and by ample supplies.
MARKET NEWS
* Global equity markets edged higher on Thursday after President Vladimir Putinof Russia sounded a conciliatory note over the crisis in Ukraine, while bond yields in Europe fell to record lows as the euro zone's recovery stalled in the second quarter.
RELATED
> England's 2014 wheat area rebounds to 1.8 mln hectares-HGCA
> Delayed, below-par monsoon to hit India's corn output, exports
> Golden Agri records lowest quarterly net profit in 5 years
> COLUMN-US soybean yields have more upside risk than corn: Maguire
> India's erratic monsoon rain below average in past week
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release August 1-15 palm oil export data on August 15.
Palm, soy and crude oil prices at 0019 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 5396 -74.00 5384 5466 437188
CHINA SOYOIL JAN5 0 +0.00 0 0 0
CBOT SOY OIL DEC4 33.82 -0.04 33.79 33.90 598
NYMEX CRUDE SEP4 95.54 -0.04 95.45 95.62 1886
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 slid to touch a near five-year low on Thursday, following losses in overseas soy markets, and further dragged by forecasts of abundant supply of competing oilseeds alongside an expected surge in Southeast Asian palm output.
* New-crop U.S. soybean futures rebounded on Thursday from a contract low setearlier in the session, while corn topped a one-week high in a recovery from recent losses and wheat futures ended a five-day slide.
* Crude oil prices fell more than $2 a barrel on both sides of the Atlantic on Thursday, sunk by weak economic data hinting at softening oil demand and by ample supplies.
MARKET NEWS
* Global equity markets edged higher on Thursday after President Vladimir Putinof Russia sounded a conciliatory note over the crisis in Ukraine, while bond yields in Europe fell to record lows as the euro zone's recovery stalled in the second quarter.
RELATED
> England's 2014 wheat area rebounds to 1.8 mln hectares-HGCA
> Delayed, below-par monsoon to hit India's corn output, exports
> Golden Agri records lowest quarterly net profit in 5 years
> COLUMN-US soybean yields have more upside risk than corn: Maguire
> India's erratic monsoon rain below average in past week
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release August 1-15 palm oil export data on August 15.
Palm, soy and crude oil prices at 0019 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 5396 -74.00 5384 5466 437188
CHINA SOYOIL JAN5 0 +0.00 0 0 0
CBOT SOY OIL DEC4 33.82 -0.04 33.79 33.90 598
NYMEX CRUDE SEP4 95.54 -0.04 95.45 95.62 1886
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