MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Aug 26
VEGOILS-Market Factors to Watch Aug 26
26/08/2014 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures ended higher on Monday, snapping an eight-day losing streak, as short-covering reversed losses from the morning session and helped the tropical oil stay above 2,000 ringgit.
* Chicago corn futures fell on Monday after two straight days of gains while soybeans slid to a contract low on forecasts of record crops in the United States.
* Brent crude oil edged higher on Monday while U.S. crude fell in light trading, as support from geopolitical tensions in Ukraine and Libya offset ample supplies and anticipated weak demand after a slew of disappointing economic data from the United States and Europe.
MARKET NEWS
* Global equity markets rallied on Monday, with the U.S. benchmark S&P index topping the 2,000 mark for the first time, as expectations grew that the European Central Bank would move to boost economic growth if inflation slows further.
RELATED
> Romania reaps record cereal crops, eyes bumper sunflower
> Malaysia's Aug 1-25 palm oil exports fell 11.3 pct -SGS
> Malaysia's Aug 1-25 palm oil exports fall 15.3 pct m/m-ITS
> Indonesia's value-added tax on commodities seen hurting traders, investment
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release August palm oil export data on Sept. 2.
Palm, soy and crude oil prices at 0013 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 5212 +60.00 5200 5228 221876
CHINA SOYOIL JAN5 0 +0.00 0 0 0
CBOT SOY OIL DEC4 32.93 -0.03 32.89 32.93 171
NYMEX CRUDE OCT4 93.44 +0.09 93.35 93.52 819
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 ended higher on Monday, snapping an eight-day losing streak, as short-covering reversed losses from the morning session and helped the tropical oil stay above 2,000 ringgit.
* Chicago corn futures fell on Monday after two straight days of gains while soybeans slid to a contract low on forecasts of record crops in the United States.
* Brent crude oil edged higher on Monday while U.S. crude fell in light trading, as support from geopolitical tensions in Ukraine and Libya offset ample supplies and anticipated weak demand after a slew of disappointing economic data from the United States and Europe.
MARKET NEWS
* Global equity markets rallied on Monday, with the U.S. benchmark S&P index topping the 2,000 mark for the first time, as expectations grew that the European Central Bank would move to boost economic growth if inflation slows further.
RELATED
> Romania reaps record cereal crops, eyes bumper sunflower
> Malaysia's Aug 1-25 palm oil exports fell 11.3 pct -SGS
> Malaysia's Aug 1-25 palm oil exports fall 15.3 pct m/m-ITS
> Indonesia's value-added tax on commodities seen hurting traders, investment
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release August palm oil export data on Sept. 2.
Palm, soy and crude oil prices at 0013 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 5212 +60.00 5200 5228 221876
CHINA SOYOIL JAN5 0 +0.00 0 0 0
CBOT SOY OIL DEC4 32.93 -0.03 32.89 32.93 171
NYMEX CRUDE OCT4 93.44 +0.09 93.35 93.52 819
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