MARKET DEVELOPMENT
Palm Oil/Vegoils: Market Factors to Watch Aug 29 Friday
Palm Oil/Vegoils: Market Factors to Watch Aug 29 Friday
29/08/2014 (The Star) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Friday.
FUNDAMENTALS
* Malaysian palm oil futures edged up in tight trade on Thursday, but stayed under the 2,000-ringgit mark as investors braced for an anticipated surge in rival edible oil supply amid rising palm oil production in the world's top growers.
* U.S. wheat futures rose 1.7 percent to a three-week high on Thursday, supported by concerns that escalating tensions between Ukraine and Russia would curtail shipments from those two key grain exporters, traders said.
* Brent crude oil fell and U.S. crude rose as ample global supply and lackluster demand pressured the global benchmark while positive U.S. economic data supported oil prices in the world's largest oil consumer.
MARKET NEWS
* Stock markets around the world fell on Thursday after Ukraine said Russia had moved more troops into the country, deepening the regional crisis, as nervous investors shifted money into gold and U.S. and German government bonds.
RELATED
> France imports wheat from Latvia after poor harvest
> China's 2nd-biggest palm oil importer says banks resume lending to it
> Indonesia cuts Sept palm export tax to 9 pct -Industry Ministry
> Indonesia's rice-for-poor scheme to test new president
> India's monsoon forecast to be better for crops next week
> U.S. Cash Grains-Soy processor bids narrowly mixed; farmer sales light
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance
to release August palm oil export data on Sept. 2.
Palm, soy and crude oil prices at 0020 GMT
Contract Month Last Change Low High Volume
MY PALM OIL SEP4 0 +0.00 0 0 0
MY PALM OIL OCT4 0 +0.00 0 0 0
MY PALM OIL NOV4 0 +0.00 0 0 0
CHINA PALM OLEIN JAN5 5204 +10.00 5180 5216 185170
CHINA SOYOIL JAN5 0 +0.00 0 0 0
CBOT SOY OIL DEC4 32.81 +0.02 32.81 32.86 333
NYMEX CRUDE OCT4 94.53 -0.02 94.52 94.62 772
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 edged up in tight trade on Thursday, but stayed under the 2,000-ringgit mark as investors braced for an anticipated surge in rival edible oil supply amid rising palm oil production in the world's top growers.
* U.S. wheat futures rose 1.7 percent to a three-week high on Thursday, supported by concerns that escalating tensions between Ukraine and Russia would curtail shipments from those two key grain exporters, traders said.
* Brent crude oil fell and U.S. crude rose as ample global supply and lackluster demand pressured the global benchmark while positive U.S. economic data supported oil prices in the world's largest oil consumer.
MARKET NEWS
* Stock markets around the world fell on Thursday after Ukraine said Russia had moved more troops into the country, deepening the regional crisis, as nervous investors shifted money into gold and U.S. and German government bonds.
RELATED
> France imports wheat from Latvia after poor harvest
> China's 2nd-biggest palm oil importer says banks resume lending to it
> Indonesia cuts Sept palm export tax to 9 pct -Industry Ministry
> Indonesia's rice-for-poor scheme to test new president
> India's monsoon forecast to be better for crops next week
> U.S. Cash Grains-Soy processor bids narrowly mixed; farmer sales light
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance
to release August palm oil export data on Sept. 2.
Palm, soy and crude oil prices at 0020 GMT
Contract Month Last Change Low High Volume
MY PALM OIL SEP4 0 +0.00 0 0 0
MY PALM OIL OCT4 0 +0.00 0 0 0
MY PALM OIL NOV4 0 +0.00 0 0 0
CHINA PALM OLEIN JAN5 5204 +10.00 5180 5216 185170
CHINA SOYOIL JAN5 0 +0.00 0 0 0
CBOT SOY OIL DEC4 32.81 +0.02 32.81 32.86 333
NYMEX CRUDE OCT4 94.53 -0.02 94.52 94.62 772
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