MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Aug 15
VEGOILS-Market Factors to Watch Aug 15
15/08/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures hit a two-month high on Friday, achieving a fourth session of gains in five, due to tight physical supplies of the tropical oil.
* U.S. corn futures plunged to a seven-year low on Friday and hit contract lows in all months after a the government forecast a larger-than-expected harvest, but the market ultimately closed firm as the low prices prompted bargain buying.
* Oil rose about 2 percent on Friday, clinching its biggest weekly gains since April, after a short covering rally was triggered by comments from Saudi Arabia's oil minister in the previous session about possible action to help stabilize the market.
MARKET NEWS
* Soft U.S. economic data weighed on the dollar and Treasury yields on Friday and pressured stock prices, but Wall Street's losses were mitigated by continued gains in oil prices and the Nasdaq inched up for a second straight record high.
RELATED
> U.S. coal use may rise, but unlikely to unseat natgas as power king
> China daily steel output drops, offers some respite to glut woes
> U.S. oil drillers add most rigs since Dec in longest streak in 2 years
> Canada, China canola talks end without deal, trade at risk
> USDA forecasts record corn, soy harvests and yields
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 0037 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 5302 +24.00 5294 5336 297366
CHINA SOYOIL JAN7 6170 +2.00 6160 6202 150356
CBOT SOY OIL DEC6 32.48 +5.50 32.32 32.48 620
INDIA PALM OIL AUG6 544.30 +5.50 531.10 549.8 3189
INDIA SOYOIL AUG6 634.45 +0.95 634 638 4910
NYMEX CRUDE SEP6 44.67 +0.18 44.50 44.74 3917
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 hit a two-month high on Friday, achieving a fourth session of gains in five, due to tight physical supplies of the tropical oil.
* U.S. corn futures plunged to a seven-year low on Friday and hit contract lows in all months after a the government forecast a larger-than-expected harvest, but the market ultimately closed firm as the low prices prompted bargain buying.
* Oil rose about 2 percent on Friday, clinching its biggest weekly gains since April, after a short covering rally was triggered by comments from Saudi Arabia's oil minister in the previous session about possible action to help stabilize the market.
MARKET NEWS
* Soft U.S. economic data weighed on the dollar and Treasury yields on Friday and pressured stock prices, but Wall Street's losses were mitigated by continued gains in oil prices and the Nasdaq inched up for a second straight record high.
RELATED
> U.S. coal use may rise, but unlikely to unseat natgas as power king
> China daily steel output drops, offers some respite to glut woes
> U.S. oil drillers add most rigs since Dec in longest streak in 2 years
> Canada, China canola talks end without deal, trade at risk
> USDA forecasts record corn, soy harvests and yields
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 0037 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 5302 +24.00 5294 5336 297366
CHINA SOYOIL JAN7 6170 +2.00 6160 6202 150356
CBOT SOY OIL DEC6 32.48 +5.50 32.32 32.48 620
INDIA PALM OIL AUG6 544.30 +5.50 531.10 549.8 3189
INDIA SOYOIL AUG6 634.45 +0.95 634 638 4910
NYMEX CRUDE SEP6 44.67 +0.18 44.50 44.74 3917
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