MARKET DEVELOPMENT
Vegoils: Market Factors to Watch Thursday May 28
Vegoils: Market Factors to Watch Thursday May 28
28/05/2015 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Thursday May 28.
FUNDAMENTALS
* Malaysian palm oil futures ended lower on Wednesday as the contract succumbed to selling pressure in late afternoon trade, reversing gains stemming from a weak ringgit which had lifted the tropcial oil to a near two-week high.
* U.S. wheat futures fell for the third straight session on Wednesday, hitting a two-week low on big global supplies and a government report that pegged U.S. winter wheat crop ratings above market expectations.
* Oil prices fell by up to 3 percent for a second straight day on Wednesday as a resurgent dollar weighed on the market amid concerns that U.S. crude supplies may have started rising again after three weeks of draws.
MARKET NEWS
* Equities markets rose on Wednesday, lead by gains in European stocks, and the euro edged up on signs, later dismissed, that Greece and its creditors were drafting an agreement that would provide Athens much-needed debt relief.
RELATED
> Protesters invade Liberia palm oil plantation, injure official
> Argentina nearly triples April export taxes on biodiesel
> Russia's Grain Union sees 2015 wheat crop at 55 mln tonnes
> Brazil government says to open soy waterway later this year
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data
on Malaysia's May palm oil exports on June 1.
Palm, soy and crude oil prices at 0004 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 5142 +56.00 5048 5158 500442
CHINA SOYOIL SEP5 5764 -8.00 5720 5796 294602
CBOT SOY OIL JUL5 31.70 +2.40 31.70 31.75 407
INDIA PALM OIL MAY5 455.20 +2.40 453.40 456.00 338
INDIA SOYOIL JUN5 597.85 +2.30 596.00 599.70 23280
NYMEX CRUDE JUL5 57.69 +0.17 57.56 57.78 1642
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 ended lower on Wednesday as the contract succumbed to selling pressure in late afternoon trade, reversing gains stemming from a weak ringgit which had lifted the tropcial oil to a near two-week high.
* U.S. wheat futures fell for the third straight session on Wednesday, hitting a two-week low on big global supplies and a government report that pegged U.S. winter wheat crop ratings above market expectations.
* Oil prices fell by up to 3 percent for a second straight day on Wednesday as a resurgent dollar weighed on the market amid concerns that U.S. crude supplies may have started rising again after three weeks of draws.
MARKET NEWS
* Equities markets rose on Wednesday, lead by gains in European stocks, and the euro edged up on signs, later dismissed, that Greece and its creditors were drafting an agreement that would provide Athens much-needed debt relief.
RELATED
> Protesters invade Liberia palm oil plantation, injure official
> Argentina nearly triples April export taxes on biodiesel
> Russia's Grain Union sees 2015 wheat crop at 55 mln tonnes
> Brazil government says to open soy waterway later this year
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data
on Malaysia's May palm oil exports on June 1.
Palm, soy and crude oil prices at 0004 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 5142 +56.00 5048 5158 500442
CHINA SOYOIL SEP5 5764 -8.00 5720 5796 294602
CBOT SOY OIL JUL5 31.70 +2.40 31.70 31.75 407
INDIA PALM OIL MAY5 455.20 +2.40 453.40 456.00 338
INDIA SOYOIL JUN5 597.85 +2.30 596.00 599.70 23280
NYMEX CRUDE JUL5 57.69 +0.17 57.56 57.78 1642
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