MARKET DEVELOPMENT
Vegoils: Market Factors to Watch Monday May 25
Vegoils: Market Factors to Watch Monday May 25
25/05/2015 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Monday May 25.
FUNDAMENTALS
* Malaysian palm oil futures fell on Friday and hit their lowest level in 3 weeks, snapping a two-week uptrend, on rising scepticism among investors about the sustainability of the robust export demand seen this month.
* U.S. grains and oilseeds fell more than 1 percent on Friday, with soybeans tumbling to the lowest levels since October in a broad commodities selloff as the dollar rallied against a basket of global currencies.
* Oil fell about 2 percent on Friday as a rallying dollar and profit-taking ahead of a long U.S. holiday weekend cut short a two-day run-up in crude prices.
MARKET NEWS
* Global equity markets dipped but remained near record highs on Friday after Federal Reserve Chair Janet Yellen said she expected U.S. interest rates to rise this year, a view that lifted bond yields and was bolstered by rising core consumer prices.
RELATED
> As ethanol boom fades, ADM sees bright future for corn in grocery aisle
> EU wheat lower as weather rally stalls before holiday weekend
> Monsanto's move on Syngenta could mean move away from glyphosate
> Fewer cattle placed in U.S. feedlots in April than expected
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's May 1-25 palm oil exports on May 25.
Palm, soy and crude oil prices at 2357 GMT
Contract Month Last Change Low High Volume
MY PALM OIL JUN5 0 +0.00 0 0 0
MY PALM OIL JUL5 0 +0.00 0 0 0
MY PALM OIL AUG5 0 +0.00 0 0 0
CHINA PALM OLEIN SEP5 4910 -28.00 4888 4934 228546
CHINA SOYOIL SEP5 5666 -52.00 5650 5694 244042
CBOT SOY OIL JUL5 31.64 -2.10 0.00 0.00 0
INDIA PALM OIL MAY5 447.60 -2.10 446.60 451.60 326
INDIA SOYOIL JUN5 595.90 -2.45 594.20 600.30 38405
NYMEX CRUDE JUL5 59.94 +0.22 59.77 60.06 886
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
India soy oil in Indian rupee per 10 kg
Crude in U.S. dollars per barrel
FUNDAMENTALS
* Malaysian palm oil futures fell on Friday and hit their lowest level in 3 weeks, snapping a two-week uptrend, on rising scepticism among investors about the sustainability of the robust export demand seen this month.
* U.S. grains and oilseeds fell more than 1 percent on Friday, with soybeans tumbling to the lowest levels since October in a broad commodities selloff as the dollar rallied against a basket of global currencies.
* Oil fell about 2 percent on Friday as a rallying dollar and profit-taking ahead of a long U.S. holiday weekend cut short a two-day run-up in crude prices.
MARKET NEWS
* Global equity markets dipped but remained near record highs on Friday after Federal Reserve Chair Janet Yellen said she expected U.S. interest rates to rise this year, a view that lifted bond yields and was bolstered by rising core consumer prices.
RELATED
> As ethanol boom fades, ADM sees bright future for corn in grocery aisle
> EU wheat lower as weather rally stalls before holiday weekend
> Monsanto's move on Syngenta could mean move away from glyphosate
> Fewer cattle placed in U.S. feedlots in April than expected
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's May 1-25 palm oil exports on May 25.
Palm, soy and crude oil prices at 2357 GMT
Contract Month Last Change Low High Volume
MY PALM OIL JUN5 0 +0.00 0 0 0
MY PALM OIL JUL5 0 +0.00 0 0 0
MY PALM OIL AUG5 0 +0.00 0 0 0
CHINA PALM OLEIN SEP5 4910 -28.00 4888 4934 228546
CHINA SOYOIL SEP5 5666 -52.00 5650 5694 244042
CBOT SOY OIL JUL5 31.64 -2.10 0.00 0.00 0
INDIA PALM OIL MAY5 447.60 -2.10 446.60 451.60 326
INDIA SOYOIL JUN5 595.90 -2.45 594.20 600.30 38405
NYMEX CRUDE JUL5 59.94 +0.22 59.77 60.06 886
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
India soy oil in Indian rupee per 10 kg
Crude in U.S. dollars per barrel