MARKET DEVELOPMENT
Palm Oil/Vegoils: Market Factors to Watch Aug 11 Monday
Palm Oil/Vegoils: Market Factors to Watch Aug 11 Monday
11/08/2014 (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 dropped to a one-year low on Friday with the market on track for a fifth week of declines in six as expectations of higher production pressured prices.
* U.S. wheat futures fell for a second session on Friday on profit-taking but still ran up nearly 3 percent this week, partly on fears of disrupted grain flows from the Black Sea region.
* Brent crude oil fell toward $105 a barrel on Friday, following U.S. air strikes in Iraq that analysts said might lower the risk of oil supply disruptions from OPEC's second-largest producer, while U.S. crude found support from a rebounding stock market.
MARKET NEWS
* Wall Street rallied on Friday after Russia said it ended military drills near Ukraine, soothing investor nerves over regional tensions, but bond yields fell in key markets worldwide after U.S. President Barack Obama authorized air strikes in Iraq.
RELATED
> Cocoa flattens after touching 3-year peak; sugar firms
> India's natural rubber prices dip to 4-1/2 year low - dealers
> Speculators buoy ICE sugar net short position by 70 pct
> EU experts to debate Russia's ban on European food on Aug. 14
> Australia's early wheat harvest to add to global oversupply
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 5622 -6.00 5592 5626 157394
CHINA SOYOIL JAN5 0 +0.00 0 0 0
CBOT SOY OIL DEC4 35.79 -0.08 35.73 35.87 330
NYMEX CRUDE SEP4 97.67 +0.02 97.37 97.75 2321
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 dropped to a one-year low on Friday with the market on track for a fifth week of declines in six as expectations of higher production pressured prices.
* U.S. wheat futures fell for a second session on Friday on profit-taking but still ran up nearly 3 percent this week, partly on fears of disrupted grain flows from the Black Sea region.
* Brent crude oil fell toward $105 a barrel on Friday, following U.S. air strikes in Iraq that analysts said might lower the risk of oil supply disruptions from OPEC's second-largest producer, while U.S. crude found support from a rebounding stock market.
MARKET NEWS
* Wall Street rallied on Friday after Russia said it ended military drills near Ukraine, soothing investor nerves over regional tensions, but bond yields fell in key markets worldwide after U.S. President Barack Obama authorized air strikes in Iraq.
RELATED
> Cocoa flattens after touching 3-year peak; sugar firms
> India's natural rubber prices dip to 4-1/2 year low - dealers
> Speculators buoy ICE sugar net short position by 70 pct
> EU experts to debate Russia's ban on European food on Aug. 14
> Australia's early wheat harvest to add to global oversupply
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 5622 -6.00 5592 5626 157394
CHINA SOYOIL JAN5 0 +0.00 0 0 0
CBOT SOY OIL DEC4 35.79 -0.08 35.73 35.87 330
NYMEX CRUDE SEP4 97.67 +0.02 97.37 97.75 2321
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