MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch July 11
VEGOILS-Market Factors to Watch July 11
11/07/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures hit their highest in six weeks on Monday, aided by rival oilseed soy's gains on the Chicago Board of Trade (CBOT) and China's Dalian Commodity Exchange.
* U.S. corn and wheat futures rose more than 2 percent on Monday, with corn setting a one-year high on worries about forecasts for potentially stressful heat in parts of the Midwest.
* Oil prices rose modestly on Monday, but increased drilling activity in the United States and uncertainty over Libyan and Nigerian production cuts clouded the future supply outlook.
MARKET NEWS
* The U.S. dollar climbed to a two-month high against the yen on Monday and global equity markets rallied, lifted by robust economic data from Germany and renewed interest in U.S. technology stocks spurred by an Amazon online sale event.
RELATED
> Malaysia's end-June palm stocks fall on lower output
> Brazil's Mato Grosso farmers sell 9.36 pct of 2017/18 soybean crop
> Pakistan has bought about 180,000 T of soybeans in recent days
> USDA attache sees Brazil 2017/18 soy production at 105 million T
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia’s July 1-15 palm oil export data on July 15.
> Cargo surveyor SGS releases Malaysia’s July 1-15 palm oil export data on July 15.
Palm, soy and crude oil prices at 0046 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 5520 +52.00 5484 5530 136582
CHINA SOYOIL SEP7 6146 +72.00 6092 6154 157016
CBOT SOY OIL DEC7 34.23 +5.70 34.16 34.44 2568
INDIA PALM OIL JUL7 492.20 +5.70 487.90 493.9 2187
INDIA SOYOIL JUL7 643.1 +1.55 640 646.5 13710
NYMEX CRUDE AUG7 44.58 +0.18 44.46 44.63 4439
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 hit their highest in six weeks on Monday, aided by rival oilseed soy's gains on the Chicago Board of Trade (CBOT) and China's Dalian Commodity Exchange.
* U.S. corn and wheat futures rose more than 2 percent on Monday, with corn setting a one-year high on worries about forecasts for potentially stressful heat in parts of the Midwest.
* Oil prices rose modestly on Monday, but increased drilling activity in the United States and uncertainty over Libyan and Nigerian production cuts clouded the future supply outlook.
MARKET NEWS
* The U.S. dollar climbed to a two-month high against the yen on Monday and global equity markets rallied, lifted by robust economic data from Germany and renewed interest in U.S. technology stocks spurred by an Amazon online sale event.
RELATED
> Malaysia's end-June palm stocks fall on lower output
> Brazil's Mato Grosso farmers sell 9.36 pct of 2017/18 soybean crop
> Pakistan has bought about 180,000 T of soybeans in recent days
> USDA attache sees Brazil 2017/18 soy production at 105 million T
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia’s July 1-15 palm oil export data on July 15.
> Cargo surveyor SGS releases Malaysia’s July 1-15 palm oil export data on July 15.
Palm, soy and crude oil prices at 0046 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 5520 +52.00 5484 5530 136582
CHINA SOYOIL SEP7 6146 +72.00 6092 6154 157016
CBOT SOY OIL DEC7 34.23 +5.70 34.16 34.44 2568
INDIA PALM OIL JUL7 492.20 +5.70 487.90 493.9 2187
INDIA SOYOIL JUL7 643.1 +1.55 640 646.5 13710
NYMEX CRUDE AUG7 44.58 +0.18 44.46 44.63 4439
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