MARKET DEVELOPMENT
Palm Oil/Vegoils: Market Factors to Watch May 15 (Thursday)
Palm Oil/Vegoils: Market Factors to Watch May 15 (Thursday)
15/05/2014 (The Star) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Thursday.
FUNDAMENTALS
* Malaysian palm oil futures rose to their highest in two weeks on Wednesday, boosted by a combination of data showing a rise in exports and expectations for an uptick in demand ahead of the Muslim holy month of Ramadan.
* U.S. wheat futures fell for a seventh consecutive session on Thursday as the grain continued to come under sustained pressure from forecasts for ample global stocks.
* Global oil prices rose on Wednesday as a draw on U.S. crude stocks at the Cushing, Oklahoma, contract delivery point and gasoline stocks pushed Brent and U.S. crude to three week highs.
MARKET NEWS
* Benchmark government bond yields in the United States and Germany dropped on Wednesday after sources told Reuters a European Central Bank rate cut next month is "more or less a done deal," while U.S. stocks fell from record highs.
RELATED
> India's palm oil imports ease, but seen up before Ramadan
> Golden Agri says Q1 net profit falls 8 pct
> China's top soy buyer says to honour import deals, take loss-report
> Foreign investors unhappy with some of Indonesia's new investment rules
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release Malaysia's May 1-15 palm oil export data on May 15.
Palm, soy and crude oil prices at 0037 GMT
Contract Month Last Change Low High Volume
MY PALM OIL MAY4 0 +0.00 0 0 0
MY PALM OIL JUN4 0 +0.00 0 0 0
MY PALM OIL JUL4 0 +0.00 0 0 0
CHINA PALM OLEIN SEP4 0 +0.00 0 0 0
CHINA SOYOIL SEP4 0 +0.00 0 0 0
CBOT SOY OIL JUL4 41.44 +0.06 41.33 41.45 271
NYMEX CRUDE JUN4 102.03 -0.34 101.90 102.07 2398
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
Crude in U.S. dollars per barrel
FUNDAMENTALS
* Malaysian palm oil futures rose to their highest in two weeks on Wednesday, boosted by a combination of data showing a rise in exports and expectations for an uptick in demand ahead of the Muslim holy month of Ramadan.
* U.S. wheat futures fell for a seventh consecutive session on Thursday as the grain continued to come under sustained pressure from forecasts for ample global stocks.
* Global oil prices rose on Wednesday as a draw on U.S. crude stocks at the Cushing, Oklahoma, contract delivery point and gasoline stocks pushed Brent and U.S. crude to three week highs.
MARKET NEWS
* Benchmark government bond yields in the United States and Germany dropped on Wednesday after sources told Reuters a European Central Bank rate cut next month is "more or less a done deal," while U.S. stocks fell from record highs.
RELATED
> India's palm oil imports ease, but seen up before Ramadan
> Golden Agri says Q1 net profit falls 8 pct
> China's top soy buyer says to honour import deals, take loss-report
> Foreign investors unhappy with some of Indonesia's new investment rules
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release Malaysia's May 1-15 palm oil export data on May 15.
Palm, soy and crude oil prices at 0037 GMT
Contract Month Last Change Low High Volume
MY PALM OIL MAY4 0 +0.00 0 0 0
MY PALM OIL JUN4 0 +0.00 0 0 0
MY PALM OIL JUL4 0 +0.00 0 0 0
CHINA PALM OLEIN SEP4 0 +0.00 0 0 0
CHINA SOYOIL SEP4 0 +0.00 0 0 0
CBOT SOY OIL JUL4 41.44 +0.06 41.33 41.45 271
NYMEX CRUDE JUN4 102.03 -0.34 101.90 102.07 2398
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
Crude in U.S. dollars per barrel