MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch June 4
VEGOILS-Market Factors to Watch June 4
04/06/2014 (Reuters) – The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil prices edged lower on Tuesday to hit their lowest in seven and a half months, reversing gains in the earlier session to follow losses in overseas soyoil markets, while worries about demand for the tropical oil continued to weigh.
* U.S. corn futures fell 1.6 percent, their fourth straight losing session, on Tuesday on forecasts for rain across the U.S. Midwest that should spur growth of the recently seeded crop, traders said.
* Brent crude steadied and U.S. crude erased earlier losses to push higher on Tuesday as economic data from the United States and China supported prices that have been under pressure recently because of increasing global oil production.
MARKET NEWS
* Global equity markets eased on Tuesday but remained near record or multi-year highs, while euro zone inflation data gave the euro some respite on relief that price growth in the currency zone did not slow as much as some had expected.
RELATED
> Cold Weather Hits Southern Brazil, Frost Risk In Corn Areas
> Us Wheat, Corn Hit Three-Month Lows; Soy Falls On Profit Taking
> Egypt's Meditrade Buys 24,500 T Sunflower Oil In Tender- Trade
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release Malaysia's June 1-10 palm oil export data on June 10.
> Industry regulator the Malaysian Palm Oil Board (MPOB) to release data on Malaysia's end-May palm oil stocks, exports and production on June 10.
Palm, soy and crude oil prices at 0001 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 38.30 -0.05 38.30 38.37 187
NYMEX CRUDE JUL4 102.83 +0.17 102.76 102.98 1431
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 prices edged lower on Tuesday to hit their lowest in seven and a half months, reversing gains in the earlier session to follow losses in overseas soyoil markets, while worries about demand for the tropical oil continued to weigh.
* U.S. corn futures fell 1.6 percent, their fourth straight losing session, on Tuesday on forecasts for rain across the U.S. Midwest that should spur growth of the recently seeded crop, traders said.
* Brent crude steadied and U.S. crude erased earlier losses to push higher on Tuesday as economic data from the United States and China supported prices that have been under pressure recently because of increasing global oil production.
MARKET NEWS
* Global equity markets eased on Tuesday but remained near record or multi-year highs, while euro zone inflation data gave the euro some respite on relief that price growth in the currency zone did not slow as much as some had expected.
RELATED
> Cold Weather Hits Southern Brazil, Frost Risk In Corn Areas
> Us Wheat, Corn Hit Three-Month Lows; Soy Falls On Profit Taking
> Egypt's Meditrade Buys 24,500 T Sunflower Oil In Tender- Trade
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release Malaysia's June 1-10 palm oil export data on June 10.
> Industry regulator the Malaysian Palm Oil Board (MPOB) to release data on Malaysia's end-May palm oil stocks, exports and production on June 10.
Palm, soy and crude oil prices at 0001 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 38.30 -0.05 38.30 38.37 187
NYMEX CRUDE JUL4 102.83 +0.17 102.76 102.98 1431
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