MARKET DEVELOPMENT
Vegoils: Market Factors to Watch Monday August 10
Vegoils: Market Factors to Watch Monday August 10
10/08/2015 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Monday August 10.
FUNDAMENTALS
* Malaysian palm oil futures eased on Friday, flirting with their near 11-month lows on demand concerns ahead of trade data due next week, to end their sixth straight week of losses, the contract's longest weekly losing streak since August 2008.
* U.S. soybean futures jumped more than 2 percent on Friday and registered their first weekly gain in five weeks, helped by signs of improving export demand and expectations that the U.S. government will trim its harvest forecast in a monthly crop report next week.
* Crude oil dipped on Friday, plumbing multi-month lows and heading for a sixth straight week of losses, as the approaching end of the U.S. summer driving season suggested a growing surplus in gasoline supply.
MARKET NEWS
* Wall Street stock prices fell and U.S. bond prices rose on Friday after the monthly U.S. employment data came close enough to forecast to stoke bets the Federal Reserve will raise interest rates for the first time in nearly a decade perhaps as early as September.
RELATED
> India restores wheat tariff after big imports
> Cameroon cocoa output, exports increase in 2014/15 season
> Cargill, ADM kick off corn syrup price talks with increases
> Soybeans rally 2 percent on eroding crop prospects
> Shandong importers suspend soybean trade amid GMO crackdown
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 eased on Friday, flirting with their near 11-month lows on demand concerns ahead of trade data due next week, to end their sixth straight week of losses, the contract's longest weekly losing streak since August 2008.
* U.S. soybean futures jumped more than 2 percent on Friday and registered their first weekly gain in five weeks, helped by signs of improving export demand and expectations that the U.S. government will trim its harvest forecast in a monthly crop report next week.
* Crude oil dipped on Friday, plumbing multi-month lows and heading for a sixth straight week of losses, as the approaching end of the U.S. summer driving season suggested a growing surplus in gasoline supply.
MARKET NEWS
* Wall Street stock prices fell and U.S. bond prices rose on Friday after the monthly U.S. employment data came close enough to forecast to stoke bets the Federal Reserve will raise interest rates for the first time in nearly a decade perhaps as early as September.
RELATED
> India restores wheat tariff after big imports
> Cameroon cocoa output, exports increase in 2014/15 season
> Cargill, ADM kick off corn syrup price talks with increases
> Soybeans rally 2 percent on eroding crop prospects
> Shandong importers suspend soybean trade amid GMO crackdown
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