MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch August 26
VEGOILS-Market Factors to Watch August 26
26/08/2015 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures continued their decline for a fifth straight day to hit their lowest in nearly six-and-a-half years on Tuesday, as traders focused more on weakness in competing markets than data showing stronger exports this month.
* U.S. soybeans rebounded on Tuesday off a more than six-year low, helped by China's decision to cut interest rates, although fears of a cooling economy in the world's largest buyer of the oilseed kept gains in check.
* Oil rose as much as 3 percent on Tuesday as oversold conditions brought some buyers back to the market, but a lingering supply glut and worries about the slowing economy in top commodities consumer China kept crude prices near 6-1/2-year lows.
MARKET NEWS
* U.S. stock futures resumed descent in early Asian trade and Asian shares were seen on the defensive on Wednesday as monetary easing by China's central bank had limited success in cheering up nervous investors.
RELATED
> Fertilizer producers report slow sales in Brazil
> U.S. slashes forecast for 2015 farm incomes
> Argentina candidate Macri promises soybean export tax cut
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's August 1-31 palm oil exports on August 31.
Palm, soy and crude oil prices at 0041 GMT
Contract Month Last Change Low High Volume
MY PALM OIL SEP5 0 +0.00 0 0 0
MY PALM OIL OCT5 0 +0.00 0 0 0
MY PALM OIL NOV5 0 +0.00 0 0 0
CHINA PALM OLEIN JAN6 4190 +32.00 4172 4256 467560
CHINA SOYOIL JAN6 5308 +10.00 5286 5358 510570
CBOT SOY OIL DEC5 27.00 -1.30 26.91 27.18 1869
INDIA PALM OIL AUG5 363.50 -1.30 358.30 367.80 2156
INDIA SOYOIL OCT5 576.90 +8.00 568.60 576.90 90790
NYMEX CRUDE OCT5 39.22 -0.09 39.15 39.78 4269
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 continued their decline for a fifth straight day to hit their lowest in nearly six-and-a-half years on Tuesday, as traders focused more on weakness in competing markets than data showing stronger exports this month.
* U.S. soybeans rebounded on Tuesday off a more than six-year low, helped by China's decision to cut interest rates, although fears of a cooling economy in the world's largest buyer of the oilseed kept gains in check.
* Oil rose as much as 3 percent on Tuesday as oversold conditions brought some buyers back to the market, but a lingering supply glut and worries about the slowing economy in top commodities consumer China kept crude prices near 6-1/2-year lows.
MARKET NEWS
* U.S. stock futures resumed descent in early Asian trade and Asian shares were seen on the defensive on Wednesday as monetary easing by China's central bank had limited success in cheering up nervous investors.
RELATED
> Fertilizer producers report slow sales in Brazil
> U.S. slashes forecast for 2015 farm incomes
> Argentina candidate Macri promises soybean export tax cut
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's August 1-31 palm oil exports on August 31.
Palm, soy and crude oil prices at 0041 GMT
Contract Month Last Change Low High Volume
MY PALM OIL SEP5 0 +0.00 0 0 0
MY PALM OIL OCT5 0 +0.00 0 0 0
MY PALM OIL NOV5 0 +0.00 0 0 0
CHINA PALM OLEIN JAN6 4190 +32.00 4172 4256 467560
CHINA SOYOIL JAN6 5308 +10.00 5286 5358 510570
CBOT SOY OIL DEC5 27.00 -1.30 26.91 27.18 1869
INDIA PALM OIL AUG5 363.50 -1.30 358.30 367.80 2156
INDIA SOYOIL OCT5 576.90 +8.00 568.60 576.90 90790
NYMEX CRUDE OCT5 39.22 -0.09 39.15 39.78 4269
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