MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch July 10
VEGOILS-Market Factors to Watch July 10
10/07/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures fell on Friday, ending a four-day winning streak, as soyoil's weak performance on the Chicago Board of Trade (CBOT) weighed.
* Chicago Board of Trade soybean futures rallied 1.4 percent on Friday on hotter and drier forecasts for important growing areas of the U.S. Midwest, traders said.
* Oil prices settled nearly 3 percent lower on Friday as rising U.S. production as OPEC exports hit a 2017 high cast doubt over efforts by producers to curb global oversupply.
MARKET NEWS
* Wall Street stocks rose on Friday along with the U.S. dollar and Treasury yields as investors bet that Federal Reserve policy tightening would stay on track after data showed stronger-than-expected U.S. jobs growth with wage increases that lagged forecasts.
RELATED
> Tesla wins battery contract in Australia, has 100-day deadline
> Coal markets brace for China reaction after prices near 600 yuan threshold
> Elliott explores bid to challenge Buffett's Oncor deal -sources
> India likely to raise sugar import tax to 50 pct -source
> Hundreds show support for former Thai PM as rice scheme trial nears an end
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 0043 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 5442 +32.00 5402 5450 142994
CHINA SOYOIL SEP7 6072 +86.00 5990 6078 196182
CBOT SOY OIL DEC7 33.49 -0.90 33.45 33.76 5308
INDIA PALM OIL JUL7 485.80 -0.90 482.20 489.2 1936
INDIA SOYOIL JUL7 642.5 -1.25 638.4 643.6 15380
NYMEX CRUDE AUG7 44.58 +0.35 44.33 44.72 12033
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 fell on Friday, ending a four-day winning streak, as soyoil's weak performance on the Chicago Board of Trade (CBOT) weighed.
* Chicago Board of Trade soybean futures rallied 1.4 percent on Friday on hotter and drier forecasts for important growing areas of the U.S. Midwest, traders said.
* Oil prices settled nearly 3 percent lower on Friday as rising U.S. production as OPEC exports hit a 2017 high cast doubt over efforts by producers to curb global oversupply.
MARKET NEWS
* Wall Street stocks rose on Friday along with the U.S. dollar and Treasury yields as investors bet that Federal Reserve policy tightening would stay on track after data showed stronger-than-expected U.S. jobs growth with wage increases that lagged forecasts.
RELATED
> Tesla wins battery contract in Australia, has 100-day deadline
> Coal markets brace for China reaction after prices near 600 yuan threshold
> Elliott explores bid to challenge Buffett's Oncor deal -sources
> India likely to raise sugar import tax to 50 pct -source
> Hundreds show support for former Thai PM as rice scheme trial nears an end
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 0043 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 5442 +32.00 5402 5450 142994
CHINA SOYOIL SEP7 6072 +86.00 5990 6078 196182
CBOT SOY OIL DEC7 33.49 -0.90 33.45 33.76 5308
INDIA PALM OIL JUL7 485.80 -0.90 482.20 489.2 1936
INDIA SOYOIL JUL7 642.5 -1.25 638.4 643.6 15380
NYMEX CRUDE AUG7 44.58 +0.35 44.33 44.72 12033
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