MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Aug 19
VEGOILS-Market Factors to Watch Aug 19
19/08/2015 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures retreated from a 10-week high in early trade on Thursday, falling in a market correction and dragged down by a stronger ringgit.
* U.S. soybean futures eased on Thursday, closing well above session lows as technical buyers stepped into the market after profit-taking sparked an early sell-off, traders said.
* Oil prices rose on Thursday for a sixth straight day, with Brent crude rising above $50 for the first time in six weeks as the world's biggest producers prepared to discuss a possible freeze in production levels.
MARKET NEWS
* Asian stocks edged up on Friday as Wall Street benefited from buoyant crude oil prices and expectations U.S. borrowing costs will remain at stimulatory levels at least until year-end.
RELATED
> China smelters face lowest fees in 4 yrs as zinc market tightens
> Nigeria oil minister says OPEC cuts unlikely, Algeria meeting could help price
> U.S. corn syrup makers seek record prices even as sugar finds more favor
> South Africa grain body says court rules government must hike wheat tariff
> Philippines to buy 1 mln tonnes of rice as prices drop
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 0039 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 5548 -28.00 5516 5564 414902
CHINA SOYOIL JAN7 6410 -14.00 6372 6418 223118
CBOT SOY OIL DEC6 34.51 -3.40 34.48 34.62 577
INDIA PALM OIL AUG6 568.50 -3.40 562.50 571.7 1972
INDIA SOYOIL AUG6 650.35 -4.20 648.8 654.1 2780
NYMEX CRUDE SEP6 48.25 +0.03 48.18 48.37 1908
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 retreated from a 10-week high in early trade on Thursday, falling in a market correction and dragged down by a stronger ringgit.
* U.S. soybean futures eased on Thursday, closing well above session lows as technical buyers stepped into the market after profit-taking sparked an early sell-off, traders said.
* Oil prices rose on Thursday for a sixth straight day, with Brent crude rising above $50 for the first time in six weeks as the world's biggest producers prepared to discuss a possible freeze in production levels.
MARKET NEWS
* Asian stocks edged up on Friday as Wall Street benefited from buoyant crude oil prices and expectations U.S. borrowing costs will remain at stimulatory levels at least until year-end.
RELATED
> China smelters face lowest fees in 4 yrs as zinc market tightens
> Nigeria oil minister says OPEC cuts unlikely, Algeria meeting could help price
> U.S. corn syrup makers seek record prices even as sugar finds more favor
> South Africa grain body says court rules government must hike wheat tariff
> Philippines to buy 1 mln tonnes of rice as prices drop
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 0039 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 5548 -28.00 5516 5564 414902
CHINA SOYOIL JAN7 6410 -14.00 6372 6418 223118
CBOT SOY OIL DEC6 34.51 -3.40 34.48 34.62 577
INDIA PALM OIL AUG6 568.50 -3.40 562.50 571.7 1972
INDIA SOYOIL AUG6 650.35 -4.20 648.8 654.1 2780
NYMEX CRUDE SEP6 48.25 +0.03 48.18 48.37 1908
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