MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Aug 1
VEGOILS-Market Factors to Watch Aug 1
01/08/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures rose on Friday evening as traders forecast better exports for July, but still charted its first weekly decline in three weeks given weakness in competing soybean oil markets.
* U.S. soybeans surged as much as 2.8 percent on Friday, reversing earlier losses in a rally sparked by U.S. data showingimproved export demand, traders and analysts said.
* Oil prices steadied on Friday after touching three-month lows during a week-long selloff fueled by a persistent global supply glut, bringing the monthly decline to nearly 15 percent, the biggest monthly loss in a year for U.S. crude.
MARKET NEWS
* Weak U.S. economic growth data knocked down the dollar and yields on U.S. government debt Friday, while Japanese government bond yields rose the most in eight years after investors reacted coolly to the Bank of Japan's latest effort to boost the economy.
RELATED
> Bayer says will halt future U.S. sales of insecticide
> DNO looks to expand in Kurdish region with Gulf Keystone offer
> EU holds steady on soft wheat harvest, export forecasts
> China's soybean auction draws fewer buyers on weak global prices
> Fight for survival returns to Europe's battle-hardened refineries
Palm, soy and crude oil prices at 0027 GMT
Contract Month Last Change Low High Volume
MY PALM OIL AUG6 0 +0.00 0 0 0
MY PALM OIL SEP6 0 +0.00 0 0 0
MY PALM OIL OCT6 0 +0.00 0 0 0
CHINA PALM OLEIN JAN7 5092 +122.0 4992 5094 309616
CHINA SOYOIL JAN7 6132 +70.00 6044 6148 235244
CBOT SOY OIL DEC6 30.78 +3.20 30.62 30.88 1109
INDIA PALM OIL AUG6 505.00 +3.20 501.00 506.2 2941
INDIA SOYOIL AUG6 627.7 +2.60 621 627.7 37850
NYMEX CRUDE SEP6 41.39 -0.21 41.22 41.45 4603
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 rose on Friday evening as traders forecast better exports for July, but still charted its first weekly decline in three weeks given weakness in competing soybean oil markets.
* U.S. soybeans surged as much as 2.8 percent on Friday, reversing earlier losses in a rally sparked by U.S. data showingimproved export demand, traders and analysts said.
* Oil prices steadied on Friday after touching three-month lows during a week-long selloff fueled by a persistent global supply glut, bringing the monthly decline to nearly 15 percent, the biggest monthly loss in a year for U.S. crude.
MARKET NEWS
* Weak U.S. economic growth data knocked down the dollar and yields on U.S. government debt Friday, while Japanese government bond yields rose the most in eight years after investors reacted coolly to the Bank of Japan's latest effort to boost the economy.
RELATED
> Bayer says will halt future U.S. sales of insecticide
> DNO looks to expand in Kurdish region with Gulf Keystone offer
> EU holds steady on soft wheat harvest, export forecasts
> China's soybean auction draws fewer buyers on weak global prices
> Fight for survival returns to Europe's battle-hardened refineries
Palm, soy and crude oil prices at 0027 GMT
Contract Month Last Change Low High Volume
MY PALM OIL AUG6 0 +0.00 0 0 0
MY PALM OIL SEP6 0 +0.00 0 0 0
MY PALM OIL OCT6 0 +0.00 0 0 0
CHINA PALM OLEIN JAN7 5092 +122.0 4992 5094 309616
CHINA SOYOIL JAN7 6132 +70.00 6044 6148 235244
CBOT SOY OIL DEC6 30.78 +3.20 30.62 30.88 1109
INDIA PALM OIL AUG6 505.00 +3.20 501.00 506.2 2941
INDIA SOYOIL AUG6 627.7 +2.60 621 627.7 37850
NYMEX CRUDE SEP6 41.39 -0.21 41.22 41.45 4603
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