MARKET DEVELOPMENT
Palm Oil/Vegoils: Market Factors to Watch Aug 6 Wednesday
Palm Oil/Vegoils: Market Factors to Watch Aug 6 Wednesday
06/08/2014 (The Star) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Wednesday.
FUNDAMENTALS
* Malaysian palm oil futures fell in thin trade on Tuesday, tracking losses in overseas soyoil markets, with uncertainty about bigger global edible oil supplies keeping prices stuck in rangebound trade.
* U.S. soybean futures fell on Tuesday as expectations for a bumper U.S. harvest rose on overnight rains across a broad stretch of the Midwest and a government report showing the crop in better shape than expected, traders said.
* Oil prices tumbled on Tuesday, with Brent crude falling to a nine-month low as ample supplies in Europe and North America outweighed fears that violence in the Middle East and North Africa could disrupt production.
MARKET NEWS
* U.S. stocks and bond yields fell on Tuesday after a report indicating escalating tensions in Ukraine sparked fresh concern about the region.
RELATED
> Thai govt to aim for rubber supply cut to support prices
> Neste Oil Q2 below estimates, cautions on outlook
> Singapore approves bill to fine domestic, overseas air polluters
> Japanese trader Marubeni shrugs off soy woes to post record profit
> Ukraine 14/15 rapeseed exports could fall 17 pct -UkrAgroConsult
> Food fight in Kansas primary part of Election Day in four states
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release August 1-10 palm oil export data on August 11.
> Industry regulator the Malaysian Palm Oil Board (MPOB) to release data on Malaysia's end-July palm oil stocks, exports and production on August 11.
Palm, soy and crude oil prices at 0010 GMT
Contract Month Last Change Low High Volume
MY PALM OIL AUG4 0 +0.00 0 0 0
MY PALM OIL SEP4 0 +0.00 0 0 0
MY PALM OIL OCT4 0 +0.00 0 0 0
CHINA PALM OLEIN JAN5 5608 -24.00 5604 5624 97294
CHINA SOYOIL JAN5 0 +0.00 0 0 0
CBOT SOY OIL DEC4 35.93 +0.06 35.87 35.94 266
NYMEX CRUDE SEP4 97.60 +0.22 97.57 97.72 1459
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 in thin trade on Tuesday, tracking losses in overseas soyoil markets, with uncertainty about bigger global edible oil supplies keeping prices stuck in rangebound trade.
* U.S. soybean futures fell on Tuesday as expectations for a bumper U.S. harvest rose on overnight rains across a broad stretch of the Midwest and a government report showing the crop in better shape than expected, traders said.
* Oil prices tumbled on Tuesday, with Brent crude falling to a nine-month low as ample supplies in Europe and North America outweighed fears that violence in the Middle East and North Africa could disrupt production.
MARKET NEWS
* U.S. stocks and bond yields fell on Tuesday after a report indicating escalating tensions in Ukraine sparked fresh concern about the region.
RELATED
> Thai govt to aim for rubber supply cut to support prices
> Neste Oil Q2 below estimates, cautions on outlook
> Singapore approves bill to fine domestic, overseas air polluters
> Japanese trader Marubeni shrugs off soy woes to post record profit
> Ukraine 14/15 rapeseed exports could fall 17 pct -UkrAgroConsult
> Food fight in Kansas primary part of Election Day in four states
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release August 1-10 palm oil export data on August 11.
> Industry regulator the Malaysian Palm Oil Board (MPOB) to release data on Malaysia's end-July palm oil stocks, exports and production on August 11.
Palm, soy and crude oil prices at 0010 GMT
Contract Month Last Change Low High Volume
MY PALM OIL AUG4 0 +0.00 0 0 0
MY PALM OIL SEP4 0 +0.00 0 0 0
MY PALM OIL OCT4 0 +0.00 0 0 0
CHINA PALM OLEIN JAN5 5608 -24.00 5604 5624 97294
CHINA SOYOIL JAN5 0 +0.00 0 0 0
CBOT SOY OIL DEC4 35.93 +0.06 35.87 35.94 266
NYMEX CRUDE SEP4 97.60 +0.22 97.57 97.72 1459
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