MARKET DEVELOPMENT
Palm Oil/Vegoils: Market Factors to Watch Sept 15 Monday
Palm Oil/Vegoils: Market Factors to Watch Sept 15 Monday
15/09/2014 (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 edged up to touch their highest in over three weeks on Friday, with prices recording a second straight weekly gain thanks to firm soyoil markets overseas and a surge in crude palm oil export demand.
* U.S. wheat futures fell to a four-year low on Friday and posted their biggest weekly loss since July on weak export prospects and rising global supplies, traders said.
* Crude oil prices fell on Friday on pressure from weak demand, ample supplies and a strong dollar.
MARKET NEWS
* The U.S. dollar ended higher for a ninth straight week against the euro on Friday and hit six-year highs against the yen, helped by speculation the Federal Reserve may strike a more hawkish tone when it meets next week.
RELATED
> Cargill fires first shot in legal battle over GMO trade responsibility
> Brazil's Silva, a lifelong environmentalist, courts big agriculture
> Frost spreads to Canadian province of Saskatchewan as harvest lags
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release Sept. 1-15 palm oil export data on Sept. 15
Palm, soy and crude oil prices at 0008 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 5200 +18.00 5182 5210 167078
CHINA SOYOIL JAN5 0 +0.00 0 0 0
CBOT SOY OIL DEC4 32.59 -0.18 32.50 32.74 1241
NYMEX CRUDE OCT4 91.07 -1.20 90.63 92.37 9275
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
- Reuters
FUNDAMENTALS
* Malaysian palm oil futures edged up to touch their highest in over three weeks on Friday, with prices recording a second straight weekly gain thanks to firm soyoil markets overseas and a surge in crude palm oil export demand.
* U.S. wheat futures fell to a four-year low on Friday and posted their biggest weekly loss since July on weak export prospects and rising global supplies, traders said.
* Crude oil prices fell on Friday on pressure from weak demand, ample supplies and a strong dollar.
MARKET NEWS
* The U.S. dollar ended higher for a ninth straight week against the euro on Friday and hit six-year highs against the yen, helped by speculation the Federal Reserve may strike a more hawkish tone when it meets next week.
RELATED
> Cargill fires first shot in legal battle over GMO trade responsibility
> Brazil's Silva, a lifelong environmentalist, courts big agriculture
> Frost spreads to Canadian province of Saskatchewan as harvest lags
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release Sept. 1-15 palm oil export data on Sept. 15
Palm, soy and crude oil prices at 0008 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 5200 +18.00 5182 5210 167078
CHINA SOYOIL JAN5 0 +0.00 0 0 0
CBOT SOY OIL DEC4 32.59 -0.18 32.50 32.74 1241
NYMEX CRUDE OCT4 91.07 -1.20 90.63 92.37 9275
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
- Reuters