MARKET DEVELOPMENT
Vegoils: Market Factors to Watch Friday June 5
Vegoils: Market Factors to Watch Friday June 5
05/06/2015 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Friday June 5.
FUNDAMENTALS
* Malaysian palm oil futures ended higher on Thursday in anticipation the ringgit will continue to retreat and on market talk the world's biggest edible oil consumer India will ramp up purchases of refined palm oil.
* Chicago Board of Trade wheat futures jumped 2.3 percent on Thursday, posting their third gain in the last four sessions as some weather concerns provided the impetus for traders to cover short positions.
* Crude prices tumbled almost 3 percent for a second day on Thursday ahead of an OPEC decision likely to keep the market oversupplied and on worry rising European bond yields could tighten the speculative money swirling in oil.
MARKET NEWS
* A bond market selloff that had shaken financial market confidence waned on Thursday but U.S. stocks slumped on concerns strong economic data could boost interest rates in the near term.
RELATED
> Argentina's 2014-15 soy crop seen at 60.8 mln tonnes - exchange
> World food prices in May lowest since 2009 - FAO
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on 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 0024 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 JAN6 5326 +8.00 5282 5364 269062
CHINA SOYOIL SEP5 5792 -30.00 5772 5842 247566
CBOT SOY OIL JUL5 34.48 -0.10 34.41 34.51 497
INDIA PALM OIL JUN5 461.40 -0.10 459.00 463.90 1761
INDIA SOYOIL JUN5 615.00 -6.05 614.00 621.70 24225
NYMEX CRUDE JUL5 57.97 -0.03 57.87 58.00 1181
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 ended higher on Thursday in anticipation the ringgit will continue to retreat and on market talk the world's biggest edible oil consumer India will ramp up purchases of refined palm oil.
* Chicago Board of Trade wheat futures jumped 2.3 percent on Thursday, posting their third gain in the last four sessions as some weather concerns provided the impetus for traders to cover short positions.
* Crude prices tumbled almost 3 percent for a second day on Thursday ahead of an OPEC decision likely to keep the market oversupplied and on worry rising European bond yields could tighten the speculative money swirling in oil.
MARKET NEWS
* A bond market selloff that had shaken financial market confidence waned on Thursday but U.S. stocks slumped on concerns strong economic data could boost interest rates in the near term.
RELATED
> Argentina's 2014-15 soy crop seen at 60.8 mln tonnes - exchange
> World food prices in May lowest since 2009 - FAO
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on 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 0024 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 JAN6 5326 +8.00 5282 5364 269062
CHINA SOYOIL SEP5 5792 -30.00 5772 5842 247566
CBOT SOY OIL JUL5 34.48 -0.10 34.41 34.51 497
INDIA PALM OIL JUN5 461.40 -0.10 459.00 463.90 1761
INDIA SOYOIL JUN5 615.00 -6.05 614.00 621.70 24225
NYMEX CRUDE JUL5 57.97 -0.03 57.87 58.00 1181
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