MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch July 14
VEGOILS-Market Factors to Watch July 14
14/07/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil rose on Wednesday, snapping four straight sessions of losses, as futures tracked higher Chinese soybean oil and palm olein prices, while gains in U.S. soyoil also helped improve sentiment.
* U.S. soybean and corn futures rallied on Wednesday, both posting their second straight day of sharp gains on concerns about hot and dry weather cutting into U.S. soybean crops and expectations of strong exports of U.S. corn.
* Oil markets tumbled more than 4 percent on Wednesday, erasing most of the previous session's gain, as a raft of bearish U.S. inventory data heightened concerns about a global glut.
MARKET NEWS
* Asian shares held near eight-month high on Thursday as investors bet the Bank of England will cut rates in a pre-emptive strike to ward off a recession following the country's decision to leave the European Union.
RELATED
> China June soy imports at 7.56 million tonnes, below estimates - customs
> Monsanto exploring deals, including BASF agri unit buy -BBG
> Indian cotton stockpiles to fall by a third as output plunges
> OPEC delegates say Saudi comments show higher oil price desire
> UPDATE 2-Surprise U.S. gasoline stock build crimps refiner margins
Palm, soy and crude oil prices at 0035 GMT
Contract Month Last Change Low High Volume
MY PALM OIL JUL6 0 +0.00 0 0 0
MY PALM OIL AUG6 0 +0.00 0 0 0
MY PALM OIL SEP6 0 +0.00 0 0 0
CHINA PALM OLEIN SEP6 5090 +24.00 5080 5126 171584
CHINA SOYOIL SEP6 6148 +60.00 6124 6176 181222
CBOT SOY OIL DEC6 31.28 +2.60 31.21 31.34 1848
INDIA PALM OIL JUL6 493.00 +2.60 491.50 498 2046
INDIA SOYOIL JUL6 626 +1.70 625 629.2 7970
NYMEX CRUDE AUG6 45.16 +0.41 45.02 45.19 4445
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 rose on Wednesday, snapping four straight sessions of losses, as futures tracked higher Chinese soybean oil and palm olein prices, while gains in U.S. soyoil also helped improve sentiment.
* U.S. soybean and corn futures rallied on Wednesday, both posting their second straight day of sharp gains on concerns about hot and dry weather cutting into U.S. soybean crops and expectations of strong exports of U.S. corn.
* Oil markets tumbled more than 4 percent on Wednesday, erasing most of the previous session's gain, as a raft of bearish U.S. inventory data heightened concerns about a global glut.
MARKET NEWS
* Asian shares held near eight-month high on Thursday as investors bet the Bank of England will cut rates in a pre-emptive strike to ward off a recession following the country's decision to leave the European Union.
RELATED
> China June soy imports at 7.56 million tonnes, below estimates - customs
> Monsanto exploring deals, including BASF agri unit buy -BBG
> Indian cotton stockpiles to fall by a third as output plunges
> OPEC delegates say Saudi comments show higher oil price desire
> UPDATE 2-Surprise U.S. gasoline stock build crimps refiner margins
Palm, soy and crude oil prices at 0035 GMT
Contract Month Last Change Low High Volume
MY PALM OIL JUL6 0 +0.00 0 0 0
MY PALM OIL AUG6 0 +0.00 0 0 0
MY PALM OIL SEP6 0 +0.00 0 0 0
CHINA PALM OLEIN SEP6 5090 +24.00 5080 5126 171584
CHINA SOYOIL SEP6 6148 +60.00 6124 6176 181222
CBOT SOY OIL DEC6 31.28 +2.60 31.21 31.34 1848
INDIA PALM OIL JUL6 493.00 +2.60 491.50 498 2046
INDIA SOYOIL JUL6 626 +1.70 625 629.2 7970
NYMEX CRUDE AUG6 45.16 +0.41 45.02 45.19 4445
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