MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Aug 11
VEGOILS-Market Factors to Watch Aug 11
11/08/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures reversed losses to end the trading day higher on Wednesday, as official government data showed that stockpiles declined unexpectedly at the end of July.
* U.S. soybean futures fell on Wednesday, pressured by favorable crop weather and profit-taking after a five-session advance that was driven by resurgent export demand, analysts said.
* Oil prices fell around 2 percent on Wednesday after the second-biggest weekly draw in U.S. gasoline this summer was countered by an unseasonal build in crude stockpiles.
MARKET NEWS
* Oil prices fell on Wednesday on a surprise build in U.S. crude inventories, dragging on energy shares, and U.S. stock indexes receded from record highs.
RELATED
> Canada, China meet to solve canola spat as deadline looms
> Facing tough market, Brazil's grains farmers brace for slower sales
> China backs GMO soybeans in push for high-tech agriculture
> OPEC points to 2017 oil surplus as Saudi output hits record
> Raw sugar retreats from one month high as Brazil real gains stall
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Aug 1-15 palm oil export data on Aug 15.
> Cargo surveyor SGS releases Malaysia's Aug 1-15 palm oil export data on Aug 15.
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 5314 +14.00 5308 5362 305636
CHINA SOYOIL JAN7 6222 -18.00 6214 6274 176088
CBOT SOY OIL DEC6 32.03 +6.10 31.99 32.12 858
INDIA PALM OIL AUG6 542.50 +6.10 534.00 546 2087
INDIA SOYOIL AUG6 636.1 -1.15 635.2 638.5 20520
NYMEX CRUDE SEP6 41.34 -0.37 41.29 41.56 5615
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 reversed losses to end the trading day higher on Wednesday, as official government data showed that stockpiles declined unexpectedly at the end of July.
* U.S. soybean futures fell on Wednesday, pressured by favorable crop weather and profit-taking after a five-session advance that was driven by resurgent export demand, analysts said.
* Oil prices fell around 2 percent on Wednesday after the second-biggest weekly draw in U.S. gasoline this summer was countered by an unseasonal build in crude stockpiles.
MARKET NEWS
* Oil prices fell on Wednesday on a surprise build in U.S. crude inventories, dragging on energy shares, and U.S. stock indexes receded from record highs.
RELATED
> Canada, China meet to solve canola spat as deadline looms
> Facing tough market, Brazil's grains farmers brace for slower sales
> China backs GMO soybeans in push for high-tech agriculture
> OPEC points to 2017 oil surplus as Saudi output hits record
> Raw sugar retreats from one month high as Brazil real gains stall
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Aug 1-15 palm oil export data on Aug 15.
> Cargo surveyor SGS releases Malaysia's Aug 1-15 palm oil export data on Aug 15.
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 5314 +14.00 5308 5362 305636
CHINA SOYOIL JAN7 6222 -18.00 6214 6274 176088
CBOT SOY OIL DEC6 32.03 +6.10 31.99 32.12 858
INDIA PALM OIL AUG6 542.50 +6.10 534.00 546 2087
INDIA SOYOIL AUG6 636.1 -1.15 635.2 638.5 20520
NYMEX CRUDE SEP6 41.34 -0.37 41.29 41.56 5615
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