MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Aug 4
VEGOILS-Market Factors to Watch Aug 4
04/08/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures surged to a six-week high on Wednesday evening, recording a fourth consecutive session of gains, as improved demand and a recovery in rival U.S. soy supported prices.
* U.S. wheat, corn and soybean futures rose on Wednesday, rallying on bargain hunting after all three key commodities fell to multimonth or multiyear lows a day earlier, traders said.
* Oil prices jumped more than 3 percent on Wednesday, with U.S. crude futures returning to above $40 a barrel, after a larger-than-expected gasoline draw offset a surprise build in crude stockpiles in the No. 1 oil consumer.
MARKET NEWS
* Global equity prices slipped for a third straight day on Wednesday on growing nervousness about central bank policy, even as Wall Street eked out a modest gain.
RELATED
> U.S. grain handlers boost storage ahead of massive harvest
> European feeds-Soymeal prices down again, rapemeal trades
> India's PEC gets offers in 200,000 T corn tender -trade
> Indian soybeans rise on expectations of crop damage
> Persistent rain delaying German wheat, rapeseed harvest- farmers
Palm, soy and crude oil prices at 0025 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 5184 +38.00 5178 5246 403278
CHINA SOYOIL JAN7 6164 +20.00 6160 6218 265906
CBOT SOY OIL DEC6 30.94 +12.20 30.8 30.96 454
INDIA PALM OIL AUG6 530.30 +12.20 518.20 530.9 4046
INDIA SOYOIL AUG6 638.8 +6.10 633 641.1 44330
NYMEX CRUDE SEP6 41.36 +0.53 41.04 41.37 6927
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 surged to a six-week high on Wednesday evening, recording a fourth consecutive session of gains, as improved demand and a recovery in rival U.S. soy supported prices.
* U.S. wheat, corn and soybean futures rose on Wednesday, rallying on bargain hunting after all three key commodities fell to multimonth or multiyear lows a day earlier, traders said.
* Oil prices jumped more than 3 percent on Wednesday, with U.S. crude futures returning to above $40 a barrel, after a larger-than-expected gasoline draw offset a surprise build in crude stockpiles in the No. 1 oil consumer.
MARKET NEWS
* Global equity prices slipped for a third straight day on Wednesday on growing nervousness about central bank policy, even as Wall Street eked out a modest gain.
RELATED
> U.S. grain handlers boost storage ahead of massive harvest
> European feeds-Soymeal prices down again, rapemeal trades
> India's PEC gets offers in 200,000 T corn tender -trade
> Indian soybeans rise on expectations of crop damage
> Persistent rain delaying German wheat, rapeseed harvest- farmers
Palm, soy and crude oil prices at 0025 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 5184 +38.00 5178 5246 403278
CHINA SOYOIL JAN7 6164 +20.00 6160 6218 265906
CBOT SOY OIL DEC6 30.94 +12.20 30.8 30.96 454
INDIA PALM OIL AUG6 530.30 +12.20 518.20 530.9 4046
INDIA SOYOIL AUG6 638.8 +6.10 633 641.1 44330
NYMEX CRUDE SEP6 41.36 +0.53 41.04 41.37 6927
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