MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch May 19
VEGOILS-Market Factors to Watch May 19
19/05/2014 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures snapped a four-day gaining streak on Friday as investors booked profits ahead of the weekend, although optimism that festival-driven consumption will bolster exports of the vegetable oil capped losses.
* U.S. wheat futures fell for an eighth straight session on Friday, on track for their longest losing streak since June, due to poor demand for U.S. offerings on the export market despite the streak of declines.
* Brent crude oil rose on Friday to end nearly 2 percent higher on the week, boosted by concerns over output in Libya, where recently opened fields were closed again and clashes erupted in the east.
MARKET NEWS
* Global equity markets turned higher in a late-day rebound on Friday after being down most of the session on concerns about economic growth, while government debt prices fell on surprisingly strong U.S. housing data.
RELATED
> Record Indian grain output will help new govt
> Indonesia's monthly palm oil exports dip 23 pct m/m in April
> China to sell 300,000T soybeans from reserves-industry website
> Serbia utility EPS cuts output at largest hydropower plant
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release Malaysia's May 1-20 palm oil export data on May 20.
Palm, soy and crude oil prices at 0051 GMT
Contract Month Last Change Low High Volume
MY PALM OIL JUN4 0 +0.00 0 0 0
MY PALM OIL JUL4 0 +0.00 0 0 0
MY PALM OIL AUG4 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 40.69 -0.06 40.63 40.75 383
NYMEX CRUDE JUN4 102.05 +0.03 101.97 102.17 910
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 snapped a four-day gaining streak on Friday as investors booked profits ahead of the weekend, although optimism that festival-driven consumption will bolster exports of the vegetable oil capped losses.
* U.S. wheat futures fell for an eighth straight session on Friday, on track for their longest losing streak since June, due to poor demand for U.S. offerings on the export market despite the streak of declines.
* Brent crude oil rose on Friday to end nearly 2 percent higher on the week, boosted by concerns over output in Libya, where recently opened fields were closed again and clashes erupted in the east.
MARKET NEWS
* Global equity markets turned higher in a late-day rebound on Friday after being down most of the session on concerns about economic growth, while government debt prices fell on surprisingly strong U.S. housing data.
RELATED
> Record Indian grain output will help new govt
> Indonesia's monthly palm oil exports dip 23 pct m/m in April
> China to sell 300,000T soybeans from reserves-industry website
> Serbia utility EPS cuts output at largest hydropower plant
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release Malaysia's May 1-20 palm oil export data on May 20.
Palm, soy and crude oil prices at 0051 GMT
Contract Month Last Change Low High Volume
MY PALM OIL JUN4 0 +0.00 0 0 0
MY PALM OIL JUL4 0 +0.00 0 0 0
MY PALM OIL AUG4 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 40.69 -0.06 40.63 40.75 383
NYMEX CRUDE JUN4 102.05 +0.03 101.97 102.17 910
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