MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch May 23
VEGOILS-Market Factors to Watch May 23
23/05/2014 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures ended higher on Thursday to snap a four-day losingstreak, lifted by firm crude prices and a recovery in soyoil markets overseas, while a rebound in technicals underpinned sentiment.
* U.S. soybeans rallied for a second straight session on Thursday, with old-crop futures hitting contract highs as relentless demand stoked worries about shrinking short-term supplies in the United States.
* Global oil prices slid lower on Thursday after Brent touched a 2-1/2 month high and traders took profit on a rally that was driven by ongoing violence in Libya and positive economic data in China and the United States.
MARKET NEWS
* World stock indexes climbed on Thursday as data showed factory activity picked up in both the United States and China, while U.S. Treasuries prices slipped on the signs of growth in the world's largest economies.
RELATED
> Indian farmers could plant record soybean area as prices rally
> Boustead Plantations set for $311 mln Malaysia listing on June 26-sources
> Soybeans soar to contract highs on demand, tight supplies
> Ghana to distribute free fertiliser to cocoa farmers
> US may adjust 2014 corn ethanol target after outcry - sources
> ICE coffee steady after tapping 7-week low; cocoa at 1-month high
> U.S. processors desperately seeking soybeans as supplies dwindle
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 0015 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 40.83 -0.03 40.80 40.92 325
NYMEX CRUDE JUL4 103.70 -0.04 103.64 103.76 747
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 ended higher on Thursday to snap a four-day losingstreak, lifted by firm crude prices and a recovery in soyoil markets overseas, while a rebound in technicals underpinned sentiment.
* U.S. soybeans rallied for a second straight session on Thursday, with old-crop futures hitting contract highs as relentless demand stoked worries about shrinking short-term supplies in the United States.
* Global oil prices slid lower on Thursday after Brent touched a 2-1/2 month high and traders took profit on a rally that was driven by ongoing violence in Libya and positive economic data in China and the United States.
MARKET NEWS
* World stock indexes climbed on Thursday as data showed factory activity picked up in both the United States and China, while U.S. Treasuries prices slipped on the signs of growth in the world's largest economies.
RELATED
> Indian farmers could plant record soybean area as prices rally
> Boustead Plantations set for $311 mln Malaysia listing on June 26-sources
> Soybeans soar to contract highs on demand, tight supplies
> Ghana to distribute free fertiliser to cocoa farmers
> US may adjust 2014 corn ethanol target after outcry - sources
> ICE coffee steady after tapping 7-week low; cocoa at 1-month high
> U.S. processors desperately seeking soybeans as supplies dwindle
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 0015 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 40.83 -0.03 40.80 40.92 325
NYMEX CRUDE JUL4 103.70 -0.04 103.64 103.76 747
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