MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Aug 25
VEGOILS-Market Factors to Watch Aug 25
25/08/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures saw a second day of gains on Wednesday due to tight supplies and expectations of stronger export data.
* U.S. soybeans and grains dipped on Wednesday, weighed down by abundant harvest prospects in key countries.
* Oil prices tumbled on Wednesday, with U.S. crude settling about 3 percent lower, after an unexpectedly large inventory build in the world's biggest oil consumer renewed worries about oversupply.
MARKET NEWS
* Asian stocks slipped on Thursday, taking their cue from an overnight drop on Wall Street, while the dollar marked time ahead of Friday's speech by Federal Reserve Chair Janet Yellen at the global central bankers' meeting.
RELATED
> Western Iowa corn yield forecast, soy pod counts above average
> Canada takes tougher line with China over canola export dispute
> Egypt's GASC postpones raw sugar tender until Sept. 3
> Syria postpones tender for 1 mln T Russian wheat
> India to receive normal rains, not surplus, as La Nina chances fade
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 0059 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 5556 -22.00 5552 5616 463588
CHINA SOYOIL JAN7 6334 -84.00 6330 6420 277650
CBOT SOY OIL DEC6 33.88 -4.00 33.83 33.94 492
INDIA PALM OIL AUG6 565.20 -4.00 565.00 572.5 999
INDIA SOYOIL SEP6 658.2 -2.20 657.5 665.8 55490
NYMEX CRUDE OCT6 46.80 +0.03 46.72 46.85 3629
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 saw a second day of gains on Wednesday due to tight supplies and expectations of stronger export data.
* U.S. soybeans and grains dipped on Wednesday, weighed down by abundant harvest prospects in key countries.
* Oil prices tumbled on Wednesday, with U.S. crude settling about 3 percent lower, after an unexpectedly large inventory build in the world's biggest oil consumer renewed worries about oversupply.
MARKET NEWS
* Asian stocks slipped on Thursday, taking their cue from an overnight drop on Wall Street, while the dollar marked time ahead of Friday's speech by Federal Reserve Chair Janet Yellen at the global central bankers' meeting.
RELATED
> Western Iowa corn yield forecast, soy pod counts above average
> Canada takes tougher line with China over canola export dispute
> Egypt's GASC postpones raw sugar tender until Sept. 3
> Syria postpones tender for 1 mln T Russian wheat
> India to receive normal rains, not surplus, as La Nina chances fade
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 0059 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 5556 -22.00 5552 5616 463588
CHINA SOYOIL JAN7 6334 -84.00 6330 6420 277650
CBOT SOY OIL DEC6 33.88 -4.00 33.83 33.94 492
INDIA PALM OIL AUG6 565.20 -4.00 565.00 572.5 999
INDIA SOYOIL SEP6 658.2 -2.20 657.5 665.8 55490
NYMEX CRUDE OCT6 46.80 +0.03 46.72 46.85 3629
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