MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch June 6
VEGOILS-Market Factors to Watch June 6
06/06/2014 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures fell on Thursday, giving up gains in early trade to fall in nine out of 10 sessions as worries about dwindling demand and losses in overseas soy markets weighed.
* U.S. corn futures dropped for a fourth straight day on Thursday, hitting the lowest point since February, as favorable Midwest crop weather bolstered expectations for a bumper harvest this autumn and triggered fund selling.
* Brent crude oil futures rose and U.S. crude oil pared losses on Thursday in choppy trading as the euro and dollar reacted to the European Central Bank's (ECB) interest rate cut and investors anticipated growing oil demand in Europe.
MARKET NEWS
* European central bankers boosted world markets on Thursday by rolling out sub-zero interest rates and other anti-deflation measures that lifted the euro, U.S. Treasuries, and equities on both sides of the Atlantic.
RELATED
> PREVIEW-Malaysia's May palm oil stocks seen at 4-mth high
> UN food agency ups cereal forecasts as supply outlook improves
> French grain growers eye stake in EURONEXT
> Informa lowers forecast for u.s. 2014 winter wheat crop
> European vegoils-palm oil slips on demand worries
> Shipping markets eye freight trade boost from El Nino threat
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 0017 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 38.71 +0.02 38.70 38.78 487
NYMEX CRUDE JUL4 102.43 -0.05 102.37 102.50 827
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 fell on Thursday, giving up gains in early trade to fall in nine out of 10 sessions as worries about dwindling demand and losses in overseas soy markets weighed.
* U.S. corn futures dropped for a fourth straight day on Thursday, hitting the lowest point since February, as favorable Midwest crop weather bolstered expectations for a bumper harvest this autumn and triggered fund selling.
* Brent crude oil futures rose and U.S. crude oil pared losses on Thursday in choppy trading as the euro and dollar reacted to the European Central Bank's (ECB) interest rate cut and investors anticipated growing oil demand in Europe.
MARKET NEWS
* European central bankers boosted world markets on Thursday by rolling out sub-zero interest rates and other anti-deflation measures that lifted the euro, U.S. Treasuries, and equities on both sides of the Atlantic.
RELATED
> PREVIEW-Malaysia's May palm oil stocks seen at 4-mth high
> UN food agency ups cereal forecasts as supply outlook improves
> French grain growers eye stake in EURONEXT
> Informa lowers forecast for u.s. 2014 winter wheat crop
> European vegoils-palm oil slips on demand worries
> Shipping markets eye freight trade boost from El Nino threat
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 0017 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 38.71 +0.02 38.70 38.78 487
NYMEX CRUDE JUL4 102.43 -0.05 102.37 102.50 827
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