MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Aug 17
VEGOILS-Market Factors to Watch Aug 17
17/08/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures fell from a 10-week high on Tuesday as investors cashed in on the recent strength in prices and the ringgit rose, limiting demand for futures.
* U.S. wheat futures firmed on Tuesday, with a falling dollar spurring a mild round of short-covering in the beaten-down market, traders said.
* Oil settled up nearly 2 percent on Tuesday, hitting five-week highs for a second straight day as sources at OPEC spoke of Saudi Arabia's desire for higher crude prices while Russia met the producer group to discuss the market.
MARKET NEWS
* Wall Street stocks fell the most in two weeks on Tuesday, following European and Asian bourses lower after weak U.S. data and comments by Federal Reserve policymakers that the Fed could raise interest rates as early as next month.
RELATED
> Trump names six U.S. governors as agricultural advisors
> EUROPEAN FEEDS-Prices rise, defying USDA forecast of record U.S. soybean crop
> Sorry, Soybeans, corn firm but gains muted by crop expectations
> German 2016 wheat, rapeseed crops seen down after repeated rain
> Indonesia palm output seen up for a 3rd month in July -Reuters survey
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Aug 1-20 palm oil export data on Aug 20.
> Cargo surveyor SGS releases Malaysia's Aug 1-20 palm oil export data on Aug 20.
Palm, soy and crude oil prices at 0021 GMT
Contract Month Last Change Low High Volume
MY PALM OIL SEP6 0 +0.00 0 0 0
MY PALM OIL OCT6 0 +0.00 0 0 0
MY PALM OIL NOV6 0 +0.00 0 0 0
CHINA PALM OLEIN JAN7 5516 +6.00 5466 5520 384382
CHINA SOYOIL JAN7 6386 +34.00 6330 6394 204292
CBOT SOY OIL DEC6 33.82 +12.40 33.81 33.84 520
INDIA PALM OIL AUG6 557.00 +12.40 551.30 561.8 2269
INDIA SOYOIL AUG6 645.4 +11.05 641.3 645.4 8720
NYMEX CRUDE SEP6 46.28 -0.30 46.11 46.43 9995
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 fell from a 10-week high on Tuesday as investors cashed in on the recent strength in prices and the ringgit rose, limiting demand for futures.
* U.S. wheat futures firmed on Tuesday, with a falling dollar spurring a mild round of short-covering in the beaten-down market, traders said.
* Oil settled up nearly 2 percent on Tuesday, hitting five-week highs for a second straight day as sources at OPEC spoke of Saudi Arabia's desire for higher crude prices while Russia met the producer group to discuss the market.
MARKET NEWS
* Wall Street stocks fell the most in two weeks on Tuesday, following European and Asian bourses lower after weak U.S. data and comments by Federal Reserve policymakers that the Fed could raise interest rates as early as next month.
RELATED
> Trump names six U.S. governors as agricultural advisors
> EUROPEAN FEEDS-Prices rise, defying USDA forecast of record U.S. soybean crop
> Sorry, Soybeans, corn firm but gains muted by crop expectations
> German 2016 wheat, rapeseed crops seen down after repeated rain
> Indonesia palm output seen up for a 3rd month in July -Reuters survey
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Aug 1-20 palm oil export data on Aug 20.
> Cargo surveyor SGS releases Malaysia's Aug 1-20 palm oil export data on Aug 20.
Palm, soy and crude oil prices at 0021 GMT
Contract Month Last Change Low High Volume
MY PALM OIL SEP6 0 +0.00 0 0 0
MY PALM OIL OCT6 0 +0.00 0 0 0
MY PALM OIL NOV6 0 +0.00 0 0 0
CHINA PALM OLEIN JAN7 5516 +6.00 5466 5520 384382
CHINA SOYOIL JAN7 6386 +34.00 6330 6394 204292
CBOT SOY OIL DEC6 33.82 +12.40 33.81 33.84 520
INDIA PALM OIL AUG6 557.00 +12.40 551.30 561.8 2269
INDIA SOYOIL AUG6 645.4 +11.05 641.3 645.4 8720
NYMEX CRUDE SEP6 46.28 -0.30 46.11 46.43 9995
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