MARKET DEVELOPMENT
Vegoils - Market Factors to Watch Friday June 26
Vegoils - Market Factors to Watch Friday June 26
26/06/2015 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Friday June 26.
FUNDAMENTALS
* Malaysian palm oil futures closed lower on Thursday, retreating from a one-week high as investors turned cautious over fading export demand, though a weak ringgit currency limited losses.
* U.S. corn futures hit their highest level in two months and soybeans topped $10 a bushel on Thursday on concerns about excessive rains in the Midwest curbing yield prospects, traders said.
* Crude oil fell for a second straight day on Thursday, weighed by weaker U.S. refined fuels markets and potential negative impact from Greece's debt crisis on European energy demand.
MARKET NEWS
* Global stock markets and oil prices edged lower on Thursday on lingering worries over Greece, though a Supreme Court ruling upholding tax subsidies drove U.S. hospital stocks to record highs.
RELATED
> Malaysia's June 1-25 palm exports rise 1.3 pct m/m - ITS
> Malaysia's June 1-25 palm oil exports fell 0.8 pct -SGS
> U.S. lawmaker may try to limit funding for biofuels -sources
> Rains rally Asia crops in El Nino year, but relief seen short-lived
> Heavy rains saturate U.S. Midwest crop belt
> IGC cuts 2015/16 wheat crop forecast, raises corn outlook
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 0014 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 5162 -14.00 5156 5204 371230
CHINA SOYOIL JAN6 5876 -28.00 5866 5918 274550
CBOT SOY OIL JUL5 33.37 +2.10 33.34 33.45 223
INDIA PALM OIL JUN5 454.80 +2.10 451.80 454.80 843
INDIA SOYOIL AUG5 588.05 +2.05 584.10 588.80 55485
NYMEX CRUDE AUG5 59.66 -0.04 59.60 59.69 627
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 closed lower on Thursday, retreating from a one-week high as investors turned cautious over fading export demand, though a weak ringgit currency limited losses.
* U.S. corn futures hit their highest level in two months and soybeans topped $10 a bushel on Thursday on concerns about excessive rains in the Midwest curbing yield prospects, traders said.
* Crude oil fell for a second straight day on Thursday, weighed by weaker U.S. refined fuels markets and potential negative impact from Greece's debt crisis on European energy demand.
MARKET NEWS
* Global stock markets and oil prices edged lower on Thursday on lingering worries over Greece, though a Supreme Court ruling upholding tax subsidies drove U.S. hospital stocks to record highs.
RELATED
> Malaysia's June 1-25 palm exports rise 1.3 pct m/m - ITS
> Malaysia's June 1-25 palm oil exports fell 0.8 pct -SGS
> U.S. lawmaker may try to limit funding for biofuels -sources
> Rains rally Asia crops in El Nino year, but relief seen short-lived
> Heavy rains saturate U.S. Midwest crop belt
> IGC cuts 2015/16 wheat crop forecast, raises corn outlook
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 0014 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 5162 -14.00 5156 5204 371230
CHINA SOYOIL JAN6 5876 -28.00 5866 5918 274550
CBOT SOY OIL JUL5 33.37 +2.10 33.34 33.45 223
INDIA PALM OIL JUN5 454.80 +2.10 451.80 454.80 843
INDIA SOYOIL AUG5 588.05 +2.05 584.10 588.80 55485
NYMEX CRUDE AUG5 59.66 -0.04 59.60 59.69 627
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