MARKET DEVELOPMENT
Palm Oil/Vegoils: Market Factors to Watch Aug 12 Tuesday
Palm Oil/Vegoils: Market Factors to Watch Aug 12 Tuesday
12/08/2014 (The Star) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Tuesday.
FUNDAMENTALS
* Malaysian palm oil futures sank to a more-than-one-year low on Monday after an unexpected rise in palm end-stocks, with projections of a bumper crop of competing oilseeds sparking fears that supply would overwhelm global demand.
* U.S. wheat futures dipped on Monday in a see-saw trade on technical selling and easing worries about tensions between wheat-exporting countries Russia and Ukraine.
* U.S. crude oil edged up on Monday on an expectation of further draws in U.S. crude inventory, while Brent trended down despite a number of geopolitical risks.
MARKET NEWS
* A global gauge of equities rose for a second straight day on Monday, posting its largest daily advance in four months on bets on a reduced risk of direct conflict between Russia and Ukraine.
RELATED
> Malaysia's end-July palm oil stocks rise, expected to go higher
> Malaysia's Aug 1-10 palm oil exports fell 19.6 pct -SGS
> Malaysia's Aug 1-10 palm exports fell 22.2 pct m/m -ITS
> COLUMN-Southern crops hold the key to US soybean outlook: Maguire
> U.S. soy ratings post unexpected drop; corn, wheat steady
> Bunge to buy out Japan's Itochu in Brazil cane milling venture
> Trade House Enerfo launches sugar subsidiary
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release August 1-15 palm oil export data on August 15.
Palm, soy and crude oil prices at 0026 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 5570 -44.00 5558 5590 194124
CHINA SOYOIL JAN5 0 +0.00 0 0 0
CBOT SOY OIL DEC4 35.15 -0.06 35.14 35.20 509
NYMEX CRUDE SEP4 97.88 -0.20 97.79 97.92 1296
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 sank to a more-than-one-year low on Monday after an unexpected rise in palm end-stocks, with projections of a bumper crop of competing oilseeds sparking fears that supply would overwhelm global demand.
* U.S. wheat futures dipped on Monday in a see-saw trade on technical selling and easing worries about tensions between wheat-exporting countries Russia and Ukraine.
* U.S. crude oil edged up on Monday on an expectation of further draws in U.S. crude inventory, while Brent trended down despite a number of geopolitical risks.
MARKET NEWS
* A global gauge of equities rose for a second straight day on Monday, posting its largest daily advance in four months on bets on a reduced risk of direct conflict between Russia and Ukraine.
RELATED
> Malaysia's end-July palm oil stocks rise, expected to go higher
> Malaysia's Aug 1-10 palm oil exports fell 19.6 pct -SGS
> Malaysia's Aug 1-10 palm exports fell 22.2 pct m/m -ITS
> COLUMN-Southern crops hold the key to US soybean outlook: Maguire
> U.S. soy ratings post unexpected drop; corn, wheat steady
> Bunge to buy out Japan's Itochu in Brazil cane milling venture
> Trade House Enerfo launches sugar subsidiary
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release August 1-15 palm oil export data on August 15.
Palm, soy and crude oil prices at 0026 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 5570 -44.00 5558 5590 194124
CHINA SOYOIL JAN5 0 +0.00 0 0 0
CBOT SOY OIL DEC4 35.15 -0.06 35.14 35.20 509
NYMEX CRUDE SEP4 97.88 -0.20 97.79 97.92 1296
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