MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch May 21
VEGOILS-Market Factors to Watch May 21
21/05/2014 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures stretched their losing streak into a third day on Tuesday, hitting their lowest in more than four months as a firm ringgit prompted some investors to liquidate positions, although positive export data checked losses.
* Soybean futures fell on Tuesday in a profit-taking setback after hitting a 2-1/2 week high and as farmers were expected to accelerate spring planting under mild and mostly dry weather across the Midwest farm belt.
* Brent rose modestly on Tuesday supported by instability in Libya, pulling U.S. oil for July delivery higher in spite of expectations for an increase in domestic stockpiles.
MARKET NEWS
* Asian shares caught Wall Street's gloom in early trading on Wednesday, while the dollar languished for a sixth straight session against the yen.
RELATED
> Global warming may help Argentine soy crops for decades
> INTERVIEW-China needs better transparency on crop data -top USDA analyst
> Cargill commissions new cocoa processing plant in Gresik, East Java
> No El Nino impact on palm oil until 2015 -industry group
> Malaysia's May 1-20 palm oil exports rose 19.1 pct -SGS
> Malaysia's May 1-20 palm oil exports rise 18.5 pct -ITS
> China sells 80.9 pct of state soy on offer
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release Malaysia's May 1-25 palm oil export data on May 26.
Palm, soy and crude oil prices at 0049 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 40.05 -0.02 40.01 40.16 730
NYMEX CRUDE JUL4 102.82 +0.49 102.81 102.98 1714
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 stretched their losing streak into a third day on Tuesday, hitting their lowest in more than four months as a firm ringgit prompted some investors to liquidate positions, although positive export data checked losses.
* Soybean futures fell on Tuesday in a profit-taking setback after hitting a 2-1/2 week high and as farmers were expected to accelerate spring planting under mild and mostly dry weather across the Midwest farm belt.
* Brent rose modestly on Tuesday supported by instability in Libya, pulling U.S. oil for July delivery higher in spite of expectations for an increase in domestic stockpiles.
MARKET NEWS
* Asian shares caught Wall Street's gloom in early trading on Wednesday, while the dollar languished for a sixth straight session against the yen.
RELATED
> Global warming may help Argentine soy crops for decades
> INTERVIEW-China needs better transparency on crop data -top USDA analyst
> Cargill commissions new cocoa processing plant in Gresik, East Java
> No El Nino impact on palm oil until 2015 -industry group
> Malaysia's May 1-20 palm oil exports rose 19.1 pct -SGS
> Malaysia's May 1-20 palm oil exports rise 18.5 pct -ITS
> China sells 80.9 pct of state soy on offer
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release Malaysia's May 1-25 palm oil export data on May 26.
Palm, soy and crude oil prices at 0049 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 40.05 -0.02 40.01 40.16 730
NYMEX CRUDE JUL4 102.82 +0.49 102.81 102.98 1714
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