MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch August 27
VEGOILS-Market Factors to Watch August 27
27/08/2015 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures declined for a sixth session on Wednesday, as weakness in external markets sapped appetite for the edible oil while a weak ringgit offered little support.
* U.S. soybean prices dropped on Wednesday on concern that interest rate cuts in China may not be enough to stimulate growth in the key importer.
* Oil prices fell almost 2 percent on Wednesday after a huge drawdown in U.S. crude stockpiles was offset by a larger-than-expected build in gasoline and distillates, which include diesel.
MARKET NEWS
* Wall Street rebounded sharply on Wednesday after six straight days of large declines caused by China worries, while long-dated bond prices fell after a top Federal Reserve official scaled back expectations of a September rate increase.
RELATED
> Malaysia's Sime Darby sees palm oil at 1,900-2,000 rgt/t until September
> China soybean imports slow after yuan devaluation -traders
> Indonesia allows some corn imports from deals done before ban
> INTERVIEW-Louis Dreyfus' Biosev bets on sugar market turnaround
> Asian grain importers make rare forward buys on low prices
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 declined for a sixth session on Wednesday, as weakness in external markets sapped appetite for the edible oil while a weak ringgit offered little support.
* U.S. soybean prices dropped on Wednesday on concern that interest rate cuts in China may not be enough to stimulate growth in the key importer.
* Oil prices fell almost 2 percent on Wednesday after a huge drawdown in U.S. crude stockpiles was offset by a larger-than-expected build in gasoline and distillates, which include diesel.
MARKET NEWS
* Wall Street rebounded sharply on Wednesday after six straight days of large declines caused by China worries, while long-dated bond prices fell after a top Federal Reserve official scaled back expectations of a September rate increase.
RELATED
> Malaysia's Sime Darby sees palm oil at 1,900-2,000 rgt/t until September
> China soybean imports slow after yuan devaluation -traders
> Indonesia allows some corn imports from deals done before ban
> INTERVIEW-Louis Dreyfus' Biosev bets on sugar market turnaround
> Asian grain importers make rare forward buys on low prices
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