MARKET DEVELOPMENT
Palm oil/Vegoils: Market Factors to Watch June 20 Friday
Palm oil/Vegoils: Market Factors to Watch June 20 Friday
20/06/2014 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Friday.
FUNDAMENTALS
* Malaysian palm oil futures ended lower for the first time in five sessions on Thursday as worries over weakening exports and a strong ringgit weighed, although a pick up fuel demand due to turmoil in Iraq stemmed the losses.
* U.S. corn and soybean futures rose for the second straight session on Thursday, supported by concerns that heavy rains in some growing areas of the United States may have caused damage to developing crops, traders said.
* Brent crude hit a nine-month high of more than $115 a barrel on Thursday as the United States said it would send military advisers to Iraq, raising concerns about the escalating conflict.
MARKET NEWS
* A leading global stock index hit an all-time high and the dollar eased on Thursday, a day after the Federal Reserve lowered its forecast for target U.S. interest rates in the long term, an outlook that lifted risk appetite around the world.
RELATED
> Philippines group buys 160,000 T soymeal from U.S. - trade
> Heavy rains flood U.S. farmers' fields, raise river levels
> UPDATE 2-Monsoon covers half of India in weak phase, slows sowing
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 0017 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 40.55 -0.06 40.55 40.60 85
NYMEX CRUDE JUL4 106.64 +0.21 106.59 106.68 281
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 lower for the first time in five sessions on Thursday as worries over weakening exports and a strong ringgit weighed, although a pick up fuel demand due to turmoil in Iraq stemmed the losses.
* U.S. corn and soybean futures rose for the second straight session on Thursday, supported by concerns that heavy rains in some growing areas of the United States may have caused damage to developing crops, traders said.
* Brent crude hit a nine-month high of more than $115 a barrel on Thursday as the United States said it would send military advisers to Iraq, raising concerns about the escalating conflict.
MARKET NEWS
* A leading global stock index hit an all-time high and the dollar eased on Thursday, a day after the Federal Reserve lowered its forecast for target U.S. interest rates in the long term, an outlook that lifted risk appetite around the world.
RELATED
> Philippines group buys 160,000 T soymeal from U.S. - trade
> Heavy rains flood U.S. farmers' fields, raise river levels
> UPDATE 2-Monsoon covers half of India in weak phase, slows sowing
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 0017 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 40.55 -0.06 40.55 40.60 85
NYMEX CRUDE JUL4 106.64 +0.21 106.59 106.68 281
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