MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Aug 24
VEGOILS-Market Factors to Watch Aug 24
24/08/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures edged up on Tuesday, coming off a more than one-week low hit earlier as higher overseas sales underpinned prices.
* U.S. corn futures slid to a one-week low on Tuesday and soybean futures lost ground, a day after a U.S. government report showed both crops were thriving.
* Oil prices rose on Tuesday after Reuters reported Iran was sending positive signals that it may support joint OPEC action to prop up the market, before the market pared gains on trade data showing a surprise build in U.S. crude stocks.
MARKET NEWS
* Homebuilders provided a modest lift to both U.S. and European stock markets on Tuesday, while oil prices got a brief boost from Iran's positive signals on an output freeze.
RELATED
> East-central Nebraska corn crops clipped by heat, wind damage -tour
> Egypt's GASC buys 10,000 tonnes sunflower oil - trade
> Canadian farmers to reap less canola, surprising trade
> Brazil mulls fund to finance farming insurance, Valor says
> Sime Darby sees 10 pct drop in palm oil output in fiscal 2017
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Aug 1-25 palm oil export data on Aug 25.
> Cargo surveyor SGS releases Malaysia's Aug 1-25 palm oil export data on Aug 25.
Palm, soy and crude oil prices at 0029 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 5580 +82.00 5524 5586 423248
CHINA SOYOIL JAN7 6432 +68.00 6384 6444 221634
CBOT SOY OIL DEC6 34.46 +2.40 34.34 34.46 996
INDIA PALM OIL AUG6 569.30 +2.40 560.00 570.8 1433
INDIA SOYOIL SEP6 660.25 -0.05 655.1 661 50000
NYMEX CRUDE OCT6 47.69 -0.41 47.46 47.74 5985
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 edged up on Tuesday, coming off a more than one-week low hit earlier as higher overseas sales underpinned prices.
* U.S. corn futures slid to a one-week low on Tuesday and soybean futures lost ground, a day after a U.S. government report showed both crops were thriving.
* Oil prices rose on Tuesday after Reuters reported Iran was sending positive signals that it may support joint OPEC action to prop up the market, before the market pared gains on trade data showing a surprise build in U.S. crude stocks.
MARKET NEWS
* Homebuilders provided a modest lift to both U.S. and European stock markets on Tuesday, while oil prices got a brief boost from Iran's positive signals on an output freeze.
RELATED
> East-central Nebraska corn crops clipped by heat, wind damage -tour
> Egypt's GASC buys 10,000 tonnes sunflower oil - trade
> Canadian farmers to reap less canola, surprising trade
> Brazil mulls fund to finance farming insurance, Valor says
> Sime Darby sees 10 pct drop in palm oil output in fiscal 2017
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Aug 1-25 palm oil export data on Aug 25.
> Cargo surveyor SGS releases Malaysia's Aug 1-25 palm oil export data on Aug 25.
Palm, soy and crude oil prices at 0029 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 5580 +82.00 5524 5586 423248
CHINA SOYOIL JAN7 6432 +68.00 6384 6444 221634
CBOT SOY OIL DEC6 34.46 +2.40 34.34 34.46 996
INDIA PALM OIL AUG6 569.30 +2.40 560.00 570.8 1433
INDIA SOYOIL SEP6 660.25 -0.05 655.1 661 50000
NYMEX CRUDE OCT6 47.69 -0.41 47.46 47.74 5985
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