MARKET DEVELOPMENT
Vegoils: Market Factors to Watch August 6
Vegoils: Market Factors to Watch August 6
06/08/2015 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Thursday August 6.
FUNDAMENTALS
* Malaysian palm oil futures reversed gains to hit an 11-month low on Wednesday as worries about rising production and falling demand offset initial support from a weak currency and firmer comparative vegetable oils.
* U.S. grain and soybean futures jumped on Wednesday as concerns about poor weather hurting autumn harvests fueled a recovery from recent losses in the markets.
* Oil prices hit multi-month lows on Wednesday after a surge in gasoline stockpiles in the United States as the summer season, the country's biggest demand period for motor fuels, neared its end.
MARKET NEWS
* Global equities markets rose on Wednesday on data showing the pace of growth in the U.S. service sector surged in July to a decade high, as well as being boosted by solid corporate results in Europe, while the dollar teetered as investors gauged the likelihood of a September interest rate hike.
RELATED
> Malaysia's July palm stocks seen up slightly on high output, weak exports
> Indonesia corn import block to raise poultry, egg prices
> India likely to bring in rules to make mills export sugar stocks
> China's farm ministry urges cut in corn prices to help hog farmers
> Fertilizer makers Agrium, CF post higher profits
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's August 1-10 palm oil exports on August 10.
Palm, soy and crude oil prices at 0009 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 4784 +28.00 4766 4798 253962
CHINA SOYOIL JAN6 5520 +24.00 5496 5542 214348
CBOT SOY OIL DEC5 30.66 -2.00 30.64 30.71 291
INDIA PALM OIL JUL5 419.10 -2.00 417.50 420.40 856
INDIA SOYOIL AUG5 576.50 +6.00 568.20 576.60 66095
NYMEX CRUDE SEP5 48.50 -0.02 48.43 48.57 1325
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 reversed gains to hit an 11-month low on Wednesday as worries about rising production and falling demand offset initial support from a weak currency and firmer comparative vegetable oils.
* U.S. grain and soybean futures jumped on Wednesday as concerns about poor weather hurting autumn harvests fueled a recovery from recent losses in the markets.
* Oil prices hit multi-month lows on Wednesday after a surge in gasoline stockpiles in the United States as the summer season, the country's biggest demand period for motor fuels, neared its end.
MARKET NEWS
* Global equities markets rose on Wednesday on data showing the pace of growth in the U.S. service sector surged in July to a decade high, as well as being boosted by solid corporate results in Europe, while the dollar teetered as investors gauged the likelihood of a September interest rate hike.
RELATED
> Malaysia's July palm stocks seen up slightly on high output, weak exports
> Indonesia corn import block to raise poultry, egg prices
> India likely to bring in rules to make mills export sugar stocks
> China's farm ministry urges cut in corn prices to help hog farmers
> Fertilizer makers Agrium, CF post higher profits
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's August 1-10 palm oil exports on August 10.
Palm, soy and crude oil prices at 0009 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 4784 +28.00 4766 4798 253962
CHINA SOYOIL JAN6 5520 +24.00 5496 5542 214348
CBOT SOY OIL DEC5 30.66 -2.00 30.64 30.71 291
INDIA PALM OIL JUL5 419.10 -2.00 417.50 420.40 856
INDIA SOYOIL AUG5 576.50 +6.00 568.20 576.60 66095
NYMEX CRUDE SEP5 48.50 -0.02 48.43 48.57 1325
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