MARKET DEVELOPMENT
Palm Oil/Vegoils: Market Factors to Watch Aug 19 Tuesday
Palm Oil/Vegoils: Market Factors to Watch Aug 19 Tuesday
19/08/2014 (The Star) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Tuesday.
FUNDAMENTALS
* Malaysian palm oil was flat on Monday as traders awaited clearer signals on whether prices would extend last week's fall to near five year lows, pushing the market into oversold territory.
* U.S. wheat futures slid on Monday, giving back some of the strong gains made in the previous two sessions as fears of potential supply disruptions from the Black Sea region eased.
* Brent crude oil shed nearly $2 a barrel to reach its lowest price in over a year on Monday as investor concerns over conflict in Ukraine and Iraq eased, and as higher Libyan oil output added to already ample supplies.
MARKET NEWS
* U.S. and European stock prices surged on Monday, taking a leading U.S. equities index to a 14-year high, as investors breathed easier over the Ukraine crisis and knocked oil prices to lows not seen in more than a year.
RELATED
> Big corn, soy yields seen in Ohio and Indiana -crop tour
> U.S. corn, soy conditions seen steady to slightly down -analysts
> U.S. farmers fight poisonous wheat fungus with cleaning, waiting
> Wheat dips on easing Black Sea fears; corn eyes big U.S. crop
> Russian wheat prices fall on USDA's crop estimate upgrade
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release August 1-20 palm oil export data on August 20.
Palm, soy and crude oil prices at 0024 GMT
Contract Month Last Change Low High Volume
MY PALM OIL SEP4 0 +0.00 0 0 0
MY PALM OIL OCT4 0 +0.00 0 0 0
MY PALM OIL NOV4 0 +0.00 0 0 0
CHINA PALM OLEIN JAN5 5308 -4.00 5288 5312 154360
CHINA SOYOIL JAN5 0 +0.00 0 0 0
CBOT SOY OIL DEC4 33.15 -0.18 33.13 33.26 597
NYMEX CRUDE SEP4 96.66 +0.25 96.54 96.72 495
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 was flat on Monday as traders awaited clearer signals on whether prices would extend last week's fall to near five year lows, pushing the market into oversold territory.
* U.S. wheat futures slid on Monday, giving back some of the strong gains made in the previous two sessions as fears of potential supply disruptions from the Black Sea region eased.
* Brent crude oil shed nearly $2 a barrel to reach its lowest price in over a year on Monday as investor concerns over conflict in Ukraine and Iraq eased, and as higher Libyan oil output added to already ample supplies.
MARKET NEWS
* U.S. and European stock prices surged on Monday, taking a leading U.S. equities index to a 14-year high, as investors breathed easier over the Ukraine crisis and knocked oil prices to lows not seen in more than a year.
RELATED
> Big corn, soy yields seen in Ohio and Indiana -crop tour
> U.S. corn, soy conditions seen steady to slightly down -analysts
> U.S. farmers fight poisonous wheat fungus with cleaning, waiting
> Wheat dips on easing Black Sea fears; corn eyes big U.S. crop
> Russian wheat prices fall on USDA's crop estimate upgrade
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release August 1-20 palm oil export data on August 20.
Palm, soy and crude oil prices at 0024 GMT
Contract Month Last Change Low High Volume
MY PALM OIL SEP4 0 +0.00 0 0 0
MY PALM OIL OCT4 0 +0.00 0 0 0
MY PALM OIL NOV4 0 +0.00 0 0 0
CHINA PALM OLEIN JAN5 5308 -4.00 5288 5312 154360
CHINA SOYOIL JAN5 0 +0.00 0 0 0
CBOT SOY OIL DEC4 33.15 -0.18 33.13 33.26 597
NYMEX CRUDE SEP4 96.66 +0.25 96.54 96.72 495
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