MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch June 11
VEGOILS-Market Factors to Watch June 11
11/06/2015 (Reuters) The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures notched their third straight day of losses on Wednesday after an industry report showed inventories in the world's second-biggest producer swelled to a six-month high in May.
* U.S. wheat futures tumbled more than 3 percent for their largest losses in two weeks on Wednesday after the U.S. Department of Agriculture boosted its production forecast for the winter wheat crop in a monthly supply and demand report.
* Oil rallied for a second straight day on Wednesday, with U.S. crude nearing a one-month high and gasoline hitting its highest price since November, as a big U.S. stocks drawdown boosted the outlook for summer fuel demand.
MARKET NEWS
* U.S. shares rebounded sharply on Wednesday in the S&P's 500's best day in more than a month, while longer-dated U.S. Treasury yields rose to their highest in more than seven months, tracking a selloff in German Bunds.
RELATED
> Malaysia's Jun 1-10 palm oil exports rose 1.9 pct -SGS
> Malaysian May palm stocks swell to 6-mth high, output highest since Oct
> Malaysia's June 1 - 10 palm oil exports rise 2.2 pct -ITS
> India's 2015/16 cotton acreage seen down by the most in 13 yrs -trade body
> Louis Dreyfus buys 24,000 T raw sugar from Thailand at 52 points
> Ethanol futures drop after EIA data show supplies rise
> India's 2015/16 cotton acreage seen down by the most in 13 years
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's June 1-15 palm oil exports on June 15.
Palm, soy and crude oil prices at 0452 GMT
Contract Month Last Change Low High Volume
MY PALM OIL FEB5 2240 -24.00 2230 2254 29
MY PALM OIL MAR5 2228 -19.00 2220 2249 388
MY PALM OIL APR5 2210 -20.00 2202 2222 7986
CHINA PALM OLEIN MAY5 4846 -22.00 4844 4874 180294
CHINA SOYOIL MAY5 5514 -52.00 5508 5562 240078
CBOT SOY OIL MAR5 31.48 -3.50 31.47 31.57 2367
INDIA PALM OIL JAN5 434.90 -3.50 434.00 439.50 488
INDIA SOYOIL FEB5 616.00 -9.00 615.70 624.80 50145
NYMEX CRUDE MAR5 45.06 -0.53 44.35 45.35 25835
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 notched their third straight day of losses on Wednesday after an industry report showed inventories in the world's second-biggest producer swelled to a six-month high in May.
* U.S. wheat futures tumbled more than 3 percent for their largest losses in two weeks on Wednesday after the U.S. Department of Agriculture boosted its production forecast for the winter wheat crop in a monthly supply and demand report.
* Oil rallied for a second straight day on Wednesday, with U.S. crude nearing a one-month high and gasoline hitting its highest price since November, as a big U.S. stocks drawdown boosted the outlook for summer fuel demand.
MARKET NEWS
* U.S. shares rebounded sharply on Wednesday in the S&P's 500's best day in more than a month, while longer-dated U.S. Treasury yields rose to their highest in more than seven months, tracking a selloff in German Bunds.
RELATED
> Malaysia's Jun 1-10 palm oil exports rose 1.9 pct -SGS
> Malaysian May palm stocks swell to 6-mth high, output highest since Oct
> Malaysia's June 1 - 10 palm oil exports rise 2.2 pct -ITS
> India's 2015/16 cotton acreage seen down by the most in 13 yrs -trade body
> Louis Dreyfus buys 24,000 T raw sugar from Thailand at 52 points
> Ethanol futures drop after EIA data show supplies rise
> India's 2015/16 cotton acreage seen down by the most in 13 years
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's June 1-15 palm oil exports on June 15.
Palm, soy and crude oil prices at 0452 GMT
Contract Month Last Change Low High Volume
MY PALM OIL FEB5 2240 -24.00 2230 2254 29
MY PALM OIL MAR5 2228 -19.00 2220 2249 388
MY PALM OIL APR5 2210 -20.00 2202 2222 7986
CHINA PALM OLEIN MAY5 4846 -22.00 4844 4874 180294
CHINA SOYOIL MAY5 5514 -52.00 5508 5562 240078
CBOT SOY OIL MAR5 31.48 -3.50 31.47 31.57 2367
INDIA PALM OIL JAN5 434.90 -3.50 434.00 439.50 488
INDIA SOYOIL FEB5 616.00 -9.00 615.70 624.80 50145
NYMEX CRUDE MAR5 45.06 -0.53 44.35 45.35 25835
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