MARKET DEVELOPMENT
Vegoils: Market Factors to Watch Tuesday June 23
Vegoils: Market Factors to Watch Tuesday June 23
23/06/2015 (Reuter) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Tuesday June 23.
FUNDAMENTALS
* Malaysian palm oil futures fell to their lowest in over three weeks on Monday as the ringgit nudged up and lacklustre exports in the first 20 days of the month signalled dwindling demand for the edible oil.
* U.S. soybean futures climbed to a six-week high on Monday on concerns about tightening old-crop supplies and excessive rains trimming new-crop yield prospects, traders said.
* Oil reversed losses to end slightly higher on Monday as short-covering ahead of the expiry of the front-month contract in U.S. crude lifted a market burdened by concerns about creeping gasoline inventories.
MARKET NEWS
* U.S. stock futures rose in early Asian trading on Tuesday, bolstered by hopes that Greece's latest budget proposals would stave off a debt default and lead to a deal with lenders later this week.
RELATED
> Argentine grains workers sign wage deal, averting strike
> U.S. Plains flooding refills soil moisture, farmers' wallets
> Hungary may issue FX bond in "non-traditional markets" in 2016
> Malaysia's Jun 1-20 palm oil exports rose 3.3 pct -SGS
> India 2015 soybean output to jump over 10 pct on timely rain -industry
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's June palm oil exports on June 30.
Palm, soy and crude oil prices at 0020 GMT
Contract Month Last Change Low High Volume
MY PALM OIL JUL5 0 +0.00 0 0 0
MY PALM OIL AUG5 0 +0.00 0 0 0
MY PALM OIL SEP5 0 +0.00 0 0 0
CHINA PALM OLEIN JAN6 0 +0.00 0 0 0
CHINA SOYOIL JAN6 0 +0.00 0 0 0
CBOT SOY OIL JUL5 33.12 -0.80 33.00 33.13 1196
INDIA PALM OIL JUN5 449.40 -0.80 446.80 450.00 816
INDIA SOYOIL AUG5 580.00 -1.80 575.20 583.50 66290
NYMEX CRUDE AUG5 60.19 -0.19 60.14 60.26 1270
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 fell to their lowest in over three weeks on Monday as the ringgit nudged up and lacklustre exports in the first 20 days of the month signalled dwindling demand for the edible oil.
* U.S. soybean futures climbed to a six-week high on Monday on concerns about tightening old-crop supplies and excessive rains trimming new-crop yield prospects, traders said.
* Oil reversed losses to end slightly higher on Monday as short-covering ahead of the expiry of the front-month contract in U.S. crude lifted a market burdened by concerns about creeping gasoline inventories.
MARKET NEWS
* U.S. stock futures rose in early Asian trading on Tuesday, bolstered by hopes that Greece's latest budget proposals would stave off a debt default and lead to a deal with lenders later this week.
RELATED
> Argentine grains workers sign wage deal, averting strike
> U.S. Plains flooding refills soil moisture, farmers' wallets
> Hungary may issue FX bond in "non-traditional markets" in 2016
> Malaysia's Jun 1-20 palm oil exports rose 3.3 pct -SGS
> India 2015 soybean output to jump over 10 pct on timely rain -industry
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's June palm oil exports on June 30.
Palm, soy and crude oil prices at 0020 GMT
Contract Month Last Change Low High Volume
MY PALM OIL JUL5 0 +0.00 0 0 0
MY PALM OIL AUG5 0 +0.00 0 0 0
MY PALM OIL SEP5 0 +0.00 0 0 0
CHINA PALM OLEIN JAN6 0 +0.00 0 0 0
CHINA SOYOIL JAN6 0 +0.00 0 0 0
CBOT SOY OIL JUL5 33.12 -0.80 33.00 33.13 1196
INDIA PALM OIL JUN5 449.40 -0.80 446.80 450.00 816
INDIA SOYOIL AUG5 580.00 -1.80 575.20 583.50 66290
NYMEX CRUDE AUG5 60.19 -0.19 60.14 60.26 1270
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