MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch June 9
VEGOILS-Market Factors to Watch June 9
09/06/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures fell on Thursday in a second straight session of losses as forecasts of rising output and declining export demand weighed on the market, said traders. POI/
* U.S. spot corn futures hit their highest level in nearly a year before paring gains on Thursday and Minneapolis spring wheat neared a two-year top on worries about hot and dry weather stressing crops in the northern Plains and Midwest, analysts said. GRA/
* Oil prices continued to slide on Friday, adding to sharp declines from earlier this week as evidence mounted that a fuel supply overhang continued despite an ongoing effort led by OPEC to tighten the market by holding back production. O/R
MARKET NEWS
* Sterling spiralled lower in Asia on Friday after British elections seemed to have left no single party with a clear claim to power, sideswiping investors who had already weathered major risk events in the United States and Europe. MKTS/GLOB
RELATED
> World food prices climb in May, import bill to rise in 2017 -FAO
> EU 2016/17 soybean imports down 5 pct, palm oil down 15 pct
> Brazil's 2016/17 soybean crop view raised to 113.92 mln T - Conab
> Malaysian corruption investigators search Felda Global's head office
> Cargo surveyor ITS releases Malaysia's June 1-10 palm oil export data on June 10.
> Cargo surveyor SGS releases Malaysia's June 1-10 palm oil export data on June 10.
Palm, soy and crude oil prices at 0109 GMT
Contract Month Last Change Low High Volume
MY PALM OIL JUN7 0 +0.00 0 0 0
MY PALM OIL JUL7 0 +0.00 0 0 0
MY PALM OIL AUG7 0 +0.00 0 0 0
CHINA PALM OLEIN SEP7 5184 +22.00 5156 5196 168874
CHINA SOYOIL SEP7 5770 +48.00 5724 5792 251264
CBOT SOY OIL JUL7 31.81 -0.30 31.77 31.85 1417
INDIA PALM OIL JUN7 489.40 -0.30 488.00 491.7 1280
INDIA SOYOIL JUN7 629.3 -0.10 627.55 632.4 12860
NYMEX CRUDE JUL7 45.59 -0.05 45.39 45.73 15554
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 Vegetable oils
FUNDAMENTALS
* Malaysian palm oil futures fell on Thursday in a second straight session of losses as forecasts of rising output and declining export demand weighed on the market, said traders. POI/
* U.S. spot corn futures hit their highest level in nearly a year before paring gains on Thursday and Minneapolis spring wheat neared a two-year top on worries about hot and dry weather stressing crops in the northern Plains and Midwest, analysts said. GRA/
* Oil prices continued to slide on Friday, adding to sharp declines from earlier this week as evidence mounted that a fuel supply overhang continued despite an ongoing effort led by OPEC to tighten the market by holding back production. O/R
MARKET NEWS
* Sterling spiralled lower in Asia on Friday after British elections seemed to have left no single party with a clear claim to power, sideswiping investors who had already weathered major risk events in the United States and Europe. MKTS/GLOB
RELATED
> World food prices climb in May, import bill to rise in 2017 -FAO
> EU 2016/17 soybean imports down 5 pct, palm oil down 15 pct
> Brazil's 2016/17 soybean crop view raised to 113.92 mln T - Conab
> Malaysian corruption investigators search Felda Global's head office
> Cargo surveyor ITS releases Malaysia's June 1-10 palm oil export data on June 10.
> Cargo surveyor SGS releases Malaysia's June 1-10 palm oil export data on June 10.
Palm, soy and crude oil prices at 0109 GMT
Contract Month Last Change Low High Volume
MY PALM OIL JUN7 0 +0.00 0 0 0
MY PALM OIL JUL7 0 +0.00 0 0 0
MY PALM OIL AUG7 0 +0.00 0 0 0
CHINA PALM OLEIN SEP7 5184 +22.00 5156 5196 168874
CHINA SOYOIL SEP7 5770 +48.00 5724 5792 251264
CBOT SOY OIL JUL7 31.81 -0.30 31.77 31.85 1417
INDIA PALM OIL JUN7 489.40 -0.30 488.00 491.7 1280
INDIA SOYOIL JUN7 629.3 -0.10 627.55 632.4 12860
NYMEX CRUDE JUL7 45.59 -0.05 45.39 45.73 15554
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 Vegetable oils