MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch June 27
VEGOILS-Market Factors to Watch June 27
27/06/2014 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures ended lower on Thursday to snap a three-day winning streak as crude oil prices began to ease, although losses were capped by an uptick in exports and anticipation that hot weather would trim palm output.
* U.S. soybean futures jumped to a two-week high on Thursday as stronger-than-expected export sales re-ignited concerns about dwindling old-crop supplies.
* Crude oil on both sides of the Atlantic fell on Thursday as fears eased over export disruptions from war-ravaged Iraq, allowing market participants to take some profit off the table.
MARKET NEWS
* U.S. stocks ended slight lower on Thursday after a Federal Reserve official said interest rates should rise by early 2015, while the pound gained on talk that UK rates also will go up, even as the Bank of England took only mild steps to tighten lending.
RELATED
> India's 2014/15 edible oil imports seen up on weak domestic output
> Indonesia cuts July palm export tax to 10.5 pct - industry min
> Palm prices to drop as Indonesia lags biodiesel targets-Mistry
> Soybeans hit two-week high on strong U.S. export sales
> Philippines says to import extra 200,000 T of rice from Vietnam
> Sugar mostly firm as dry Brazil weather threatens output
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release Malaysia's June palm oil export data on June 30.
Palm, soy and crude oil prices at 0027 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 DEC4 40.87 +0.01 40.80 40.88 182
NYMEX CRUDE AUG4 105.65 -0.19 105.48 105.69 1058
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 on Thursday to snap a three-day winning streak as crude oil prices began to ease, although losses were capped by an uptick in exports and anticipation that hot weather would trim palm output.
* U.S. soybean futures jumped to a two-week high on Thursday as stronger-than-expected export sales re-ignited concerns about dwindling old-crop supplies.
* Crude oil on both sides of the Atlantic fell on Thursday as fears eased over export disruptions from war-ravaged Iraq, allowing market participants to take some profit off the table.
MARKET NEWS
* U.S. stocks ended slight lower on Thursday after a Federal Reserve official said interest rates should rise by early 2015, while the pound gained on talk that UK rates also will go up, even as the Bank of England took only mild steps to tighten lending.
RELATED
> India's 2014/15 edible oil imports seen up on weak domestic output
> Indonesia cuts July palm export tax to 10.5 pct - industry min
> Palm prices to drop as Indonesia lags biodiesel targets-Mistry
> Soybeans hit two-week high on strong U.S. export sales
> Philippines says to import extra 200,000 T of rice from Vietnam
> Sugar mostly firm as dry Brazil weather threatens output
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release Malaysia's June palm oil export data on June 30.
Palm, soy and crude oil prices at 0027 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 DEC4 40.87 +0.01 40.80 40.88 182
NYMEX CRUDE AUG4 105.65 -0.19 105.48 105.69 1058
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