MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch July 06
VEGOILS-Market Factors to Watch July 06
06/07/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures surged to more than a one-month high late on Wednesday on the back of forecasts for lower production in June.
* U.S. wheat futures rose for a sixth day in a row on Wednesday, with technical buyers stepping into the market after prices sank into negative territory, traders said.
* Oil prices tumbled about 4 percent on Wednesday, ending their longest string of daily gains in more than five years, as climbing OPEC exports and a stronger dollar spurred selling.
MARKET NEWS
* Asian shares were tentative on Thursday after minutes from the Federal Reserve's last meeting showed a lack of consensus on the future pace of interest rate increases, while oil prices inched higher following the previous day's steep declines.
RELATED
> U.S. proposes cutting total biofuels requirements in 2018
> Brazil to speed up adoption of biofuel mandates -industry group
> Malaysia palm firm FGV's stake sale plan to Indonesia tycoons on hold -sources
> Soybean cargoes piling up at China's ports as imports surge
> POLL-Analysts see U.S. corn, soy, spring wheat ratings declining
> COLUMN-TR Crop Watch: Favorable weather bolsters corn, soy to begin July
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia’s July 1-10 palm oil export data on July 10.
> Cargo surveyor SGS releases Malaysia’s July 1-10 palm oil export data on July 10.
Palm, soy and crude oil prices at 0049 GMT
Contract Month Last Change Low High Volume
MY PALM OIL JUL7 0 +0.00 0 0 0
MY PALM OIL AUG7 0 +0.00 0 0 0
MY PALM OIL SEP7 0 +0.00 0 0 0
CHINA PALM OLEIN SEP7 5360 +40.00 5344 5376 176068
CHINA SOYOIL SEP7 5982 +36.00 5952 6006 180060
CBOT SOY OIL DEC7 33.61 -0.40 33.54 33.71 1170
INDIA PALM OIL JUL7 484.70 -0.40 482.00 487.8 1710
INDIA SOYOIL JUL7 646.15 -0.75 644.5 648.4 22890
NYMEX CRUDE AUG7 45.60 +0.47 45.52 45.78 10597
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 surged to more than a one-month high late on Wednesday on the back of forecasts for lower production in June.
* U.S. wheat futures rose for a sixth day in a row on Wednesday, with technical buyers stepping into the market after prices sank into negative territory, traders said.
* Oil prices tumbled about 4 percent on Wednesday, ending their longest string of daily gains in more than five years, as climbing OPEC exports and a stronger dollar spurred selling.
MARKET NEWS
* Asian shares were tentative on Thursday after minutes from the Federal Reserve's last meeting showed a lack of consensus on the future pace of interest rate increases, while oil prices inched higher following the previous day's steep declines.
RELATED
> U.S. proposes cutting total biofuels requirements in 2018
> Brazil to speed up adoption of biofuel mandates -industry group
> Malaysia palm firm FGV's stake sale plan to Indonesia tycoons on hold -sources
> Soybean cargoes piling up at China's ports as imports surge
> POLL-Analysts see U.S. corn, soy, spring wheat ratings declining
> COLUMN-TR Crop Watch: Favorable weather bolsters corn, soy to begin July
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia’s July 1-10 palm oil export data on July 10.
> Cargo surveyor SGS releases Malaysia’s July 1-10 palm oil export data on July 10.
Palm, soy and crude oil prices at 0049 GMT
Contract Month Last Change Low High Volume
MY PALM OIL JUL7 0 +0.00 0 0 0
MY PALM OIL AUG7 0 +0.00 0 0 0
MY PALM OIL SEP7 0 +0.00 0 0 0
CHINA PALM OLEIN SEP7 5360 +40.00 5344 5376 176068
CHINA SOYOIL SEP7 5982 +36.00 5952 6006 180060
CBOT SOY OIL DEC7 33.61 -0.40 33.54 33.71 1170
INDIA PALM OIL JUL7 484.70 -0.40 482.00 487.8 1710
INDIA SOYOIL JUL7 646.15 -0.75 644.5 648.4 22890
NYMEX CRUDE AUG7 45.60 +0.47 45.52 45.78 10597
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