MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch June 1
VEGOILS-Market Factors to Watch June 1
01/06/2015 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures edged up to their highest in over two weeks on Friday to record their biggest weekly gain in four months, buoyed by a weak ringgit and firm overseas soy markets.
* U.S. corn futures fell on Friday and posted a second straight weekly decline after the U.S. government lowered its targets for ethanol blending and as corn export demand slumped for the crop harvested this autumn
* Crude oil prices jumped almost 5 percent on Friday, their biggest rally in 1-1/2 months, as a steady U.S. dollar and a bigger than expected drop in U.S. oil rigs in operation set off a renewed rush of bullish bets.
MARKET NEWS
* Global equity markets and bond yields both fell on Friday, as data showed the U.S. economy contracted in the first quarter and as investors were unnerved by mixed signals from Greece's debt talks.
RELATED
> Indonesia keeps palm oil, cocoa bean export tax unchanged in June
> Port workers lift strike threat in Argentina export hub: port chamber
> U.S. biofuel rules seek compromise, but industries vow fight
> Ethanol credits slump, biodiesel prices rise after U.S. EPA quotas
> Agribusiness nervous as WHO cancer unit analyzes popular pesticide
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's May palm oil exports on June 1.
Palm, soy and crude oil prices at 0001 GMT
Contract Month Last Change Low High Volume
MY PALM OIL JUN5 0 +0.00 0 0 0
MY PALM OIL JUL5 0 +0.00 0 0 0
MY PALM OIL AUG5 0 +0.00 0 0 0
CHINA PALM OLEIN SEP5 5228 +92.00 5116 5234 611254
CHINA SOYOIL SEP5 5870 +118.00 5742 5880 631322
CBOT SOY OIL JUL5 33.41 +13.70 33.37 33.46 592
INDIA PALM OIL JUN5 463.60 +13.70 448.00 463.80 3417
INDIA SOYOIL JUN5 614.20 +16.10 596.50 614.50 54575
NYMEX CRUDE JUL5 59.93 -0.37 59.90 60.33 2654
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
India soy oil in Indian rupee per 10 kg
Crude in U.S. dollars per barrel
FUNDAMENTALS
* Malaysian palm oil futures edged up to their highest in over two weeks on Friday to record their biggest weekly gain in four months, buoyed by a weak ringgit and firm overseas soy markets.
* U.S. corn futures fell on Friday and posted a second straight weekly decline after the U.S. government lowered its targets for ethanol blending and as corn export demand slumped for the crop harvested this autumn
* Crude oil prices jumped almost 5 percent on Friday, their biggest rally in 1-1/2 months, as a steady U.S. dollar and a bigger than expected drop in U.S. oil rigs in operation set off a renewed rush of bullish bets.
MARKET NEWS
* Global equity markets and bond yields both fell on Friday, as data showed the U.S. economy contracted in the first quarter and as investors were unnerved by mixed signals from Greece's debt talks.
RELATED
> Indonesia keeps palm oil, cocoa bean export tax unchanged in June
> Port workers lift strike threat in Argentina export hub: port chamber
> U.S. biofuel rules seek compromise, but industries vow fight
> Ethanol credits slump, biodiesel prices rise after U.S. EPA quotas
> Agribusiness nervous as WHO cancer unit analyzes popular pesticide
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's May palm oil exports on June 1.
Palm, soy and crude oil prices at 0001 GMT
Contract Month Last Change Low High Volume
MY PALM OIL JUN5 0 +0.00 0 0 0
MY PALM OIL JUL5 0 +0.00 0 0 0
MY PALM OIL AUG5 0 +0.00 0 0 0
CHINA PALM OLEIN SEP5 5228 +92.00 5116 5234 611254
CHINA SOYOIL SEP5 5870 +118.00 5742 5880 631322
CBOT SOY OIL JUL5 33.41 +13.70 33.37 33.46 592
INDIA PALM OIL JUN5 463.60 +13.70 448.00 463.80 3417
INDIA SOYOIL JUN5 614.20 +16.10 596.50 614.50 54575
NYMEX CRUDE JUL5 59.93 -0.37 59.90 60.33 2654
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
India soy oil in Indian rupee per 10 kg
Crude in U.S. dollars per barrel