MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Sept 1
VEGOILS-Market Factors to Watch Sept 1
01/09/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures rose on Tuesday after three sessions of losses, supported by a stronger outlook for exports and a weaker ringgit.
* Chicago wheat futures posted a fourth consecutive month of losses on Wednesday, pulled down by plentiful global supplies, while expectations of bumper U.S. harvests pressured soybeans and corn.
* Oil prices rose in early Asian trade on Thursday, rebounding on a weaker U.S. dollar after falling around 3 percent or more in the previous session following a surprisingly large build in U.S. crude and distillate stocks last week.
MARKET NEWS
* U.S. and European shares fell on Wednesday as a drop in oil prices weighed on energy stocks, while two-year U.S. Treasury yields ended August with the biggest monthly increase since November on growing expectations the Federal Reserve will raise interest rates.
RELATED
> China delays new canola rules in late reprieve for Canada
> Wheat records 4th month of decline; corn, soy also slide
> OPEC oil output hits record as Gulf gains counter African losses
> U.S. sues to stop Deere from buying Precision Planting
> Russian oil privatisation saga points to limits of Putin's power
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Sept 1-10 palm oil export data on Sept 10.
> Cargo surveyor SGS releases Malaysia's Sept 1-10 palm oil export data on Sept 10.
Palm, soy and crude oil prices at 0055 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 5338 -56.00 5318 5374 350218
CHINA SOYOIL JAN7 6178 -56.00 6158 6204 164378
CBOT SOY OIL DEC6 32.81 +6.00 32.74 32.87 890
INDIA PALM OIL SEP6 548.20 +6.00 539.50 549.5 3239
INDIA SOYOIL SEP6 638.3 +1.95 634.7 642.5 37040
NYMEX CRUDE OCT6 44.82 +0.12 44.80 44.92 3688
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 rose on Tuesday after three sessions of losses, supported by a stronger outlook for exports and a weaker ringgit.
* Chicago wheat futures posted a fourth consecutive month of losses on Wednesday, pulled down by plentiful global supplies, while expectations of bumper U.S. harvests pressured soybeans and corn.
* Oil prices rose in early Asian trade on Thursday, rebounding on a weaker U.S. dollar after falling around 3 percent or more in the previous session following a surprisingly large build in U.S. crude and distillate stocks last week.
MARKET NEWS
* U.S. and European shares fell on Wednesday as a drop in oil prices weighed on energy stocks, while two-year U.S. Treasury yields ended August with the biggest monthly increase since November on growing expectations the Federal Reserve will raise interest rates.
RELATED
> China delays new canola rules in late reprieve for Canada
> Wheat records 4th month of decline; corn, soy also slide
> OPEC oil output hits record as Gulf gains counter African losses
> U.S. sues to stop Deere from buying Precision Planting
> Russian oil privatisation saga points to limits of Putin's power
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Sept 1-10 palm oil export data on Sept 10.
> Cargo surveyor SGS releases Malaysia's Sept 1-10 palm oil export data on Sept 10.
Palm, soy and crude oil prices at 0055 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 5338 -56.00 5318 5374 350218
CHINA SOYOIL JAN7 6178 -56.00 6158 6204 164378
CBOT SOY OIL DEC6 32.81 +6.00 32.74 32.87 890
INDIA PALM OIL SEP6 548.20 +6.00 539.50 549.5 3239
INDIA SOYOIL SEP6 638.3 +1.95 634.7 642.5 37040
NYMEX CRUDE OCT6 44.82 +0.12 44.80 44.92 3688
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