MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch June 3
VEGOILS-Market Factors to Watch June 3
04/06/2015 (Reuters) – The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures hit a three-month high on Tuesday, extending gains into a fourth straight session, buoyed by an overnight rally in soyoil markets and a weak ringgit.
* U.S. corn, soybean and wheat futures rallied on Tuesday, supported by a steep decline in the dollar that made all three commodities more attractive to investors looking for a hedge against inflation, traders said.
* Oil prices rose on Tuesday, driven by a weak dollar and expectations that U.S. crude supplies could have fallen last week for a fifth straight week.
MARKET NEWS
* U.S. stocks edged down on Tuesday while the dollar fell and bond yields rose as investors sought clarity on Greece's debt crisis and awaited the U.S. jobs report.
RELATED
> U.S. ethanol RINs plunge to Jan '14 lows after EPA proposal
> G3 to study building grain terminal at Port Metro Vancouver
> Brazil raises farm budget for 2015/16 crop year -minister
> Prices of U.S. renewable fuel credits for 2015 compliance plunge -traders
> Russian decision on food import ban depends on West - Interfax
> ADM suspends German biodiesel plant output on uncertain demand
> India downgrades monsoon forecast, stokes drought fears
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release dataon Malaysia's June 1-10 palm oil exports on June 10.
> Industry regulator the Malaysian Palm Oil Board (MPOB) to release data on Malaysia's end-May palm oil stocks, exports and production on June 10.
Palm, soy and crude oil prices at 0019 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 5218 -4.00 5196 5248 351394
CHINA SOYOIL SEP5 5888 -26.00 5880 5936 362066
CBOT SOY OIL JUL5 34.28 -2.20 34.23 34.30 1349
INDIA PALM OIL JUN5 463.50 -2.20 462.50 468.40 2477
INDIA SOYOIL JUN5 624.85 +2.75 618.00 627.40 47355
NYMEX CRUDE JUL5 60.92 -0.34 60.86 61.04 1539
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 hit a three-month high on Tuesday, extending gains into a fourth straight session, buoyed by an overnight rally in soyoil markets and a weak ringgit.
* U.S. corn, soybean and wheat futures rallied on Tuesday, supported by a steep decline in the dollar that made all three commodities more attractive to investors looking for a hedge against inflation, traders said.
* Oil prices rose on Tuesday, driven by a weak dollar and expectations that U.S. crude supplies could have fallen last week for a fifth straight week.
MARKET NEWS
* U.S. stocks edged down on Tuesday while the dollar fell and bond yields rose as investors sought clarity on Greece's debt crisis and awaited the U.S. jobs report.
RELATED
> U.S. ethanol RINs plunge to Jan '14 lows after EPA proposal
> G3 to study building grain terminal at Port Metro Vancouver
> Brazil raises farm budget for 2015/16 crop year -minister
> Prices of U.S. renewable fuel credits for 2015 compliance plunge -traders
> Russian decision on food import ban depends on West - Interfax
> ADM suspends German biodiesel plant output on uncertain demand
> India downgrades monsoon forecast, stokes drought fears
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release dataon Malaysia's June 1-10 palm oil exports on June 10.
> Industry regulator the Malaysian Palm Oil Board (MPOB) to release data on Malaysia's end-May palm oil stocks, exports and production on June 10.
Palm, soy and crude oil prices at 0019 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 5218 -4.00 5196 5248 351394
CHINA SOYOIL SEP5 5888 -26.00 5880 5936 362066
CBOT SOY OIL JUL5 34.28 -2.20 34.23 34.30 1349
INDIA PALM OIL JUN5 463.50 -2.20 462.50 468.40 2477
INDIA SOYOIL JUN5 624.85 +2.75 618.00 627.40 47355
NYMEX CRUDE JUL5 60.92 -0.34 60.86 61.04 1539
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