MARKET DEVELOPMENT
Palm Oil/Vegoils: Market Factors to Watch June 9
Palm Oil/Vegoils: Market Factors to Watch June 9
09/06/2014 (The Star) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Monday.
FUNDAMENTALS
* Malaysian palm oil futures edged lower on Friday to record their third straight weekly fall, as a stronger ringgit and weaker soyoil markets continued to drag, along with the prospect of bigger stockpiles.
* U.S. corn futures jumped more than 2 percent on Friday in the strongest gains in a month on technical buying and short-covering after sinking to a three-month low the previous day.
* U.S. crude oil futures inched higher on Friday after a solid jobs report in the United States pointed to economic strength and growing oil demand in the world's largest oil consumer.
MARKET NEWS
* Global equity markets and the dollar rose on Friday, with U.S. stocks closing at record highs, after data on U.S. jobs creation bolstered risk appetite that was also fed by the European Central Bank's pledge to douse deflation with bundles of cash.
RELATED
> India's soymeal exports sink as higher price deter buyers
> U.S. EPA needs more time to issue 2014 biofuel targets
> Thailand to freeze prices of many goods for 6 months
> ICE cocoa falls from near 3-year high, arabica turns up
> Monsoon reaches India coast slightly later than usual
> Speculators buoy bullish ICE cocoa stance to 8-week high
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 0013 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 39.09 +0.08 39.00 39.14 848
NYMEX CRUDE JUL4 102.76 +0.10 102.62 102.78 1917
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 edged lower on Friday to record their third straight weekly fall, as a stronger ringgit and weaker soyoil markets continued to drag, along with the prospect of bigger stockpiles.
* U.S. corn futures jumped more than 2 percent on Friday in the strongest gains in a month on technical buying and short-covering after sinking to a three-month low the previous day.
* U.S. crude oil futures inched higher on Friday after a solid jobs report in the United States pointed to economic strength and growing oil demand in the world's largest oil consumer.
MARKET NEWS
* Global equity markets and the dollar rose on Friday, with U.S. stocks closing at record highs, after data on U.S. jobs creation bolstered risk appetite that was also fed by the European Central Bank's pledge to douse deflation with bundles of cash.
RELATED
> India's soymeal exports sink as higher price deter buyers
> U.S. EPA needs more time to issue 2014 biofuel targets
> Thailand to freeze prices of many goods for 6 months
> ICE cocoa falls from near 3-year high, arabica turns up
> Monsoon reaches India coast slightly later than usual
> Speculators buoy bullish ICE cocoa stance to 8-week high
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 0013 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 39.09 +0.08 39.00 39.14 848
NYMEX CRUDE JUL4 102.76 +0.10 102.62 102.78 1917
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