MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch July 23
VEGOILS-Market Factors to Watch July 23
23/07/2015 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil pulled back from a one-week high on Wednesday, with traders saying they expected an increase in production in the third quarter that could eliminate any shortage of the edible oil resulting from low output in July. POI/
* U.S. corn futures fell on Wednesday, pressured by good weather for crop development across the U.S. Midwest, traders said. GRA/
* Oil prices fell and U.S. crude settled below $50 a barrel on Wednesday after government data showed crude inventories in the United States rose last week and as a stronger dollar and weaker global equities applied pressure. O/R
MARKET NEWS
* Global equity markets fell on Wednesday, pulled down by a weak revenue forecast at Apple Inc (NASDAQ:AAPL), the world's largest company, while a rebounding dollar after its biggest decline in a month weighed on gold and some stocks. MKTS/GLOB
RELATED
> Improving weather view pressures U.S. corn, soy, wheat
> High stocks to dampen sugar prices despite deficit outlook
> Weak sugar price recovery seen in 2016 even as deficit emerges
> Cocoa falls on heavy chart-based selling, sugar steadies
> Costa Group prices IPO near bottom of target range-source
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale (PARIS:SOGN) de Surveillance to release data on Malaysia's July 1-25 palm oil exports on July 25.
FUNDAMENTALS
* Malaysian palm oil pulled back from a one-week high on Wednesday, with traders saying they expected an increase in production in the third quarter that could eliminate any shortage of the edible oil resulting from low output in July. POI/
* U.S. corn futures fell on Wednesday, pressured by good weather for crop development across the U.S. Midwest, traders said. GRA/
* Oil prices fell and U.S. crude settled below $50 a barrel on Wednesday after government data showed crude inventories in the United States rose last week and as a stronger dollar and weaker global equities applied pressure. O/R
MARKET NEWS
* Global equity markets fell on Wednesday, pulled down by a weak revenue forecast at Apple Inc (NASDAQ:AAPL), the world's largest company, while a rebounding dollar after its biggest decline in a month weighed on gold and some stocks. MKTS/GLOB
RELATED
> Improving weather view pressures U.S. corn, soy, wheat
> High stocks to dampen sugar prices despite deficit outlook
> Weak sugar price recovery seen in 2016 even as deficit emerges
> Cocoa falls on heavy chart-based selling, sugar steadies
> Costa Group prices IPO near bottom of target range-source
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale (PARIS:SOGN) de Surveillance to release data on Malaysia's July 1-25 palm oil exports on July 25.