MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch August 14
VEGOILS-Market Factors to Watch August 14
14/08/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures rose on Friday evening to chart a fourth consecutive day of gains, reaching its highest levels in nearly two weeks as it tracked gains in soyoil on the Chicago Board of Trade. POI/
* U.S. wheat futures fell on Friday, led lower by a sharp decline in MGEX spring wheat as investors liquidated bullish positions following the U.S. Department of Agriculture's forecast for a bigger-than-expected crop in the northern Plains, traders said. GRA/
* Oil prices rose slightly on Friday in volatile trading as the market weighed lower U.S. crude stocks, Nigerian instability and strong global demand growth against a persistently slow rebalancing. O/R
MARKET NEWS
* Asian stocks bounced on Monday after three losing sessions, tracking a firmer Wall Street, while the dollar was weighed down by weak U.S. inflation data which dampened prospects of another Federal Reserve interest rate hike later this year. MKTS/GLOB
RELATED
> India raises veg oil import taxes to protect farmers
> Wilmar shares drop 6 pct on bleak tropical oil profits
> Bunge shuts China soybean crushing plants for maintenance
> Brazil launches first corn-only ethanol plant, hopes for more
> China's soybean crushers get reprieve as port chaos starts to clear
> Cargo surveyor ITS releases Malaysia's Aug 1-15 palm oil export data on August 15.
> Cargo surveyor SGS releases Malaysia's Aug 1-15 palm oil export data on August 15.
Palm, soy and crude oil prices at 0058 GMT
Contract Month Last Change Low High Volume
MY PALM OIL AUG7 0 +0.00 0 0 0
MY PALM OIL SEP7 0 +0.00 0 0 0
MY PALM OIL OCT7 0 +0.00 0 0 0
CHINA PALM OLEIN JAN8 5406 -8.00 5404 5446 227734
CHINA SOYOIL JAN8 6286 -20.00 6260 6328 177600
CBOT SOY OIL DEC7 33.79 +6.50 33.7 33.93 2919
INDIA PALM OIL AUG7 501.40 +6.50 489.00 503.5 3003
INDIA SOYOIL AUG7 646.4 +3.10 636.85 64916790
NYMEX CRUDE SEP7 48.87 +0.05 48.73 48.88 5091
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 Friday evening to chart a fourth consecutive day of gains, reaching its highest levels in nearly two weeks as it tracked gains in soyoil on the Chicago Board of Trade. POI/
* U.S. wheat futures fell on Friday, led lower by a sharp decline in MGEX spring wheat as investors liquidated bullish positions following the U.S. Department of Agriculture's forecast for a bigger-than-expected crop in the northern Plains, traders said. GRA/
* Oil prices rose slightly on Friday in volatile trading as the market weighed lower U.S. crude stocks, Nigerian instability and strong global demand growth against a persistently slow rebalancing. O/R
MARKET NEWS
* Asian stocks bounced on Monday after three losing sessions, tracking a firmer Wall Street, while the dollar was weighed down by weak U.S. inflation data which dampened prospects of another Federal Reserve interest rate hike later this year. MKTS/GLOB
RELATED
> India raises veg oil import taxes to protect farmers
> Wilmar shares drop 6 pct on bleak tropical oil profits
> Bunge shuts China soybean crushing plants for maintenance
> Brazil launches first corn-only ethanol plant, hopes for more
> China's soybean crushers get reprieve as port chaos starts to clear
> Cargo surveyor ITS releases Malaysia's Aug 1-15 palm oil export data on August 15.
> Cargo surveyor SGS releases Malaysia's Aug 1-15 palm oil export data on August 15.
Palm, soy and crude oil prices at 0058 GMT
Contract Month Last Change Low High Volume
MY PALM OIL AUG7 0 +0.00 0 0 0
MY PALM OIL SEP7 0 +0.00 0 0 0
MY PALM OIL OCT7 0 +0.00 0 0 0
CHINA PALM OLEIN JAN8 5406 -8.00 5404 5446 227734
CHINA SOYOIL JAN8 6286 -20.00 6260 6328 177600
CBOT SOY OIL DEC7 33.79 +6.50 33.7 33.93 2919
INDIA PALM OIL AUG7 501.40 +6.50 489.00 503.5 3003
INDIA SOYOIL AUG7 646.4 +3.10 636.85 64916790
NYMEX CRUDE SEP7 48.87 +0.05 48.73 48.88 5091
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