MARKET DEVELOPMENT
VEGOILSPALM OIL-Market Factors To Watch July 30
VEGOILSPALM OIL-Market Factors To Watch July 30
30/07/2013 (The Star) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures edged down on Monday as investors worried about potential bumper soy crops lifting global edible oil supplies, but a weaker local currency curbed losses.
* Brent crude nudged higher on Monday as supply disruptions in Europe helped halt last week's losses, while cautious investors waited for the results of this week's U.S. Federal Reserve meeting.
MARKET NEWS
* U.S. stocks fell and the dollar hovered near a five-week low on Monday ahead of the Federal Reserve's two-day policy meeting, which will be closely watched for clues on when the U.S. central bank will begin to slow its bond-buying program.
* U.S. corn prices dipped to the lowest levels since October 2010 on Monday as forecasters predicted the crop in the U.S. Midwest would go through a key development phase in near-perfect weather conditions, traders said.
* Corn prices fell on Monday, approaching three-year lows on forecasts for ideal U.S. crop weather, while raw sugar had its biggest one-day surge in six weeks as funds covered short positions.
RELATED NEWS
> CBOT soybeans end mixed, August up on bargain buying
> U.S. Cash Soymeal-Offers plunge on reduced demand
> Bids for Thai govt rice fall way short of offer
> Louis Dreyfus hungry for more agricultural assets-document
> Cotton futures slip in thin trade on Fed, China worries
> ICE raw sugar rallies in heavy trading, cocoa at 2-week low
> Kenya tea exports hurting from Egypt unrest
> Russian wheat prices steady on strong demand
DATA/EVENTS
> Cargo surveyors Intertek Testing Services
FUNDAMENTALS
* Malaysian palm oil futures edged down on Monday as investors worried about potential bumper soy crops lifting global edible oil supplies, but a weaker local currency curbed losses.
* Brent crude nudged higher on Monday as supply disruptions in Europe helped halt last week's losses, while cautious investors waited for the results of this week's U.S. Federal Reserve meeting.
MARKET NEWS
* U.S. stocks fell and the dollar hovered near a five-week low on Monday ahead of the Federal Reserve's two-day policy meeting, which will be closely watched for clues on when the U.S. central bank will begin to slow its bond-buying program.
* U.S. corn prices dipped to the lowest levels since October 2010 on Monday as forecasters predicted the crop in the U.S. Midwest would go through a key development phase in near-perfect weather conditions, traders said.
* Corn prices fell on Monday, approaching three-year lows on forecasts for ideal U.S. crop weather, while raw sugar had its biggest one-day surge in six weeks as funds covered short positions.
RELATED NEWS
> CBOT soybeans end mixed, August up on bargain buying
> U.S. Cash Soymeal-Offers plunge on reduced demand
> Bids for Thai govt rice fall way short of offer
> Louis Dreyfus hungry for more agricultural assets-document
> Cotton futures slip in thin trade on Fed, China worries
> ICE raw sugar rallies in heavy trading, cocoa at 2-week low
> Kenya tea exports hurting from Egypt unrest
> Russian wheat prices steady on strong demand
DATA/EVENTS
> Cargo surveyors Intertek Testing Services