MARKET DEVELOPMENT
Palm oil/Vegoils: Market factors to watch June 19 Thursday
Palm oil/Vegoils: Market factors to watch June 19 Thursday
19/06/2014 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Thursday.
FUNDAMENTALS
* Malaysian palm oil futures rose for a fifth day on Wednesday to a near three-week high, following gains in overseas soyoil markets, with the tropical oil further buoyed by an uptick in biodiesel demand as crude oil prices spiked due to the unrest in Iraq.
* U.S. soybean futures rose on Wednesday, rebounding from their lowest in nearly three months on a round of mild bargain buying, traders said.
* Brent crude rose to a nine-month high on Wednesday as investors worried about exports from Iraq, while U.S. crude dipped after government numbers showed domestic crude inventories fell much less than an industry group had reported.
MARKET NEWS
* Asian stocks rose in early trade on Thursday, riding on the optimism of Wall Street after the U.S. Federal Reserve gave a positive assessment of the world's largest economy and committed to retaining its accommodative monetary policy.
RELATED
> India's Modi government takes steps to control inflation
> Indonesia's monthly palm oil exports up 23 pct m/m in May
> Crop monitor raises EU wheat and rapeseed yields
> Brazil to open 1 mln T tariff-free import quota for wheat -source
> Indonesia's "haze" pollution defences not enough, says green group
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release Malaysia's June 1-20 palm oil export data on June 20.
Palm, soy and crude oil prices at 0042 GMT
Contract Month Last Change Low High Volume
MY PALM OIL JUL4 #N/A #N/A #N/A #N/A #N/A
MY PALM OIL AUG4 #N/A #N/A #N/A #N/A #N/A
MY PALM OIL SEP4 #N/A #N/A #N/A #N/A #N/A
CHINA PALM OLEIN JAN5 #N/A #N/A #N/A #N/A #N/A
CHINA SOYOIL JAN5 #N/A #N/A #N/A #N/A #N/A
CBOT SOY OIL JUL4 40.16 +0.02 40.13 40.17 1019
NYMEX CRUDE JUL4 106.20 +0.23 106.00 106.28 530
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 rose for a fifth day on Wednesday to a near three-week high, following gains in overseas soyoil markets, with the tropical oil further buoyed by an uptick in biodiesel demand as crude oil prices spiked due to the unrest in Iraq.
* U.S. soybean futures rose on Wednesday, rebounding from their lowest in nearly three months on a round of mild bargain buying, traders said.
* Brent crude rose to a nine-month high on Wednesday as investors worried about exports from Iraq, while U.S. crude dipped after government numbers showed domestic crude inventories fell much less than an industry group had reported.
MARKET NEWS
* Asian stocks rose in early trade on Thursday, riding on the optimism of Wall Street after the U.S. Federal Reserve gave a positive assessment of the world's largest economy and committed to retaining its accommodative monetary policy.
RELATED
> India's Modi government takes steps to control inflation
> Indonesia's monthly palm oil exports up 23 pct m/m in May
> Crop monitor raises EU wheat and rapeseed yields
> Brazil to open 1 mln T tariff-free import quota for wheat -source
> Indonesia's "haze" pollution defences not enough, says green group
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release Malaysia's June 1-20 palm oil export data on June 20.
Palm, soy and crude oil prices at 0042 GMT
Contract Month Last Change Low High Volume
MY PALM OIL JUL4 #N/A #N/A #N/A #N/A #N/A
MY PALM OIL AUG4 #N/A #N/A #N/A #N/A #N/A
MY PALM OIL SEP4 #N/A #N/A #N/A #N/A #N/A
CHINA PALM OLEIN JAN5 #N/A #N/A #N/A #N/A #N/A
CHINA SOYOIL JAN5 #N/A #N/A #N/A #N/A #N/A
CBOT SOY OIL JUL4 40.16 +0.02 40.13 40.17 1019
NYMEX CRUDE JUL4 106.20 +0.23 106.00 106.28 530
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