MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch July 20
VEGOILS-Market Factors to Watch July 20
20/07/2015 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures dropped to a one-week low in shortened trading on Thursday, pressured by poor demand and expectations of increased output over the next two months.
* U.S. corn and wheat fell as much as 2 percent on Friday, while soybeans also declined as the dollar climbed and rains provided needed moisture in the western half of the Midwest Crop Belt.
* Brent crude rose and U.S. futures dipped on Friday in choppy trading as expectations of increased exports from Iran capped prices and helped both contracts post their third consecutive weekly losses.
MARKET NEWS
* Wall Street's Nasdaq stock index ended at a record high on Friday on a rally in Google shares, while weak energy stocks and disappointing corporate results from companies such as Boeing and Volvo hit other European and U.S. indexes and the dollar rallied on strong U.S. inflation and housing data.
RELATED
> Palm oil makes gains in EU biodiesel, as rapeoil prices climb
> Raw sugar falls further from 8-week high, cocoa pares losses
> White sugar expiry highlights huge Thai stocks overhanging market
> China sells 8.8 pct reserve cotton on offer in first week of sales
> Speculators again up bullish cocoa bet, slash net short in sugar
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's July 1-20 palm oil exports on July 20.
Palm, soy and crude oil prices at 0005 GMT
Contract Month Last Change Low High Volume
MY PALM OIL AUG5 0 +0.00 0 0 0
MY PALM OIL SEP5 0 +0.00 0 0 0
MY PALM OIL OCT5 0 +0.00 0 0 0
CHINA PALM OLEIN JAN6 4864 -74.00 4816 4916 308024
CHINA SOYOIL JAN6 5666 -54.00 5602 5688 270496
CBOT SOY OIL DEC5 32.08 -3.30 32.04 32.11 349
INDIA PALM OIL JUL5 429.50 -3.30 427.10 433.00 788
INDIA SOYOIL AUG5 576.30 -4.15 576.00 581.90 46935
NYMEX CRUDE AUG5 51.67 +0.26 50.91 52.22 2214
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 dropped to a one-week low in shortened trading on Thursday, pressured by poor demand and expectations of increased output over the next two months.
* U.S. corn and wheat fell as much as 2 percent on Friday, while soybeans also declined as the dollar climbed and rains provided needed moisture in the western half of the Midwest Crop Belt.
* Brent crude rose and U.S. futures dipped on Friday in choppy trading as expectations of increased exports from Iran capped prices and helped both contracts post their third consecutive weekly losses.
MARKET NEWS
* Wall Street's Nasdaq stock index ended at a record high on Friday on a rally in Google shares, while weak energy stocks and disappointing corporate results from companies such as Boeing and Volvo hit other European and U.S. indexes and the dollar rallied on strong U.S. inflation and housing data.
RELATED
> Palm oil makes gains in EU biodiesel, as rapeoil prices climb
> Raw sugar falls further from 8-week high, cocoa pares losses
> White sugar expiry highlights huge Thai stocks overhanging market
> China sells 8.8 pct reserve cotton on offer in first week of sales
> Speculators again up bullish cocoa bet, slash net short in sugar
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's July 1-20 palm oil exports on July 20.
Palm, soy and crude oil prices at 0005 GMT
Contract Month Last Change Low High Volume
MY PALM OIL AUG5 0 +0.00 0 0 0
MY PALM OIL SEP5 0 +0.00 0 0 0
MY PALM OIL OCT5 0 +0.00 0 0 0
CHINA PALM OLEIN JAN6 4864 -74.00 4816 4916 308024
CHINA SOYOIL JAN6 5666 -54.00 5602 5688 270496
CBOT SOY OIL DEC5 32.08 -3.30 32.04 32.11 349
INDIA PALM OIL JUL5 429.50 -3.30 427.10 433.00 788
INDIA SOYOIL AUG5 576.30 -4.15 576.00 581.90 46935
NYMEX CRUDE AUG5 51.67 +0.26 50.91 52.22 2214
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