MARKET DEVELOPMENT
Vegoils: Market Factors to Watch on Tuesday June 9
Vegoils: Market Factors to Watch on Tuesday June 9
09/06/2015 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Tuesday June 9.
FUNDAMENTALS
* Malaysian palm futures retreated from an over three-month high on Monday on worries of weakening demand, but losses were capped by a slump in the ringgit to a nine-year low and Malaysia's plans to lift its biodiesel mandate to 10 percent by October.
* Chicago wheat futures climbed 2 percent on Monday, extending last week's rally on worries over potentially lower crop yields in the U.S. Plains.
* Oil fell by 1 percent or more on Monday on a slump in Chinese demand and worries that OPEC's decision to pump crude without restraint could prolong the current supply glut, although a weaker dollar limited losses.
MARKET NEWS
* U.S. and European stocks declined on Monday as investors fretted about Greece and the timing of a U.S. rate hike, while bond yields rose and the dollar fell.
RELATED
> Russia starts grain deliveries to Iran, sends 100,000 T- RIA
> China May soy imports rise on South American shipments
> Malaysia plans to implement B10 biodiesel by Oct 2015- minister
> Indonesia replaces Bulog food agency chief
> After oil price drop, Algeria tries to boost food crops
> China May soy imports rise on South American shipments
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data
on Malaysia's June 1-10 palm oil exports on June 10.
> Industry regulator the Malaysian Palm Oil Board (MPOB) to release data on Malaysia's end-May
palm oil stocks, exports and production on June 10.
Palm, soy and crude oil prices at 0452 GMT
Contract Month Last Change Low High Volume
MY PALM OIL FEB5 2240 -24.00 2230 2254 29
MY PALM OIL MAR5 2228 -19.00 2220 2249 388
MY PALM OIL APR5 2210 -20.00 2202 2222 7986
CHINA PALM OLEIN MAY5 4846 -22.00 4844 4874 180294
CHINA SOYOIL MAY5 5514 -52.00 5508 5562 240078
CBOT SOY OIL MAR5 31.48 -3.50 31.47 31.57 2367
INDIA PALM OIL JAN5 434.90 -3.50 434.00 439.50 488
INDIA SOYOIL FEB5 616.00 -9.00 615.70 624.80 50145
NYMEX CRUDE MAR5 45.06 -0.53 44.35 45.35 25835
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 futures retreated from an over three-month high on Monday on worries of weakening demand, but losses were capped by a slump in the ringgit to a nine-year low and Malaysia's plans to lift its biodiesel mandate to 10 percent by October.
* Chicago wheat futures climbed 2 percent on Monday, extending last week's rally on worries over potentially lower crop yields in the U.S. Plains.
* Oil fell by 1 percent or more on Monday on a slump in Chinese demand and worries that OPEC's decision to pump crude without restraint could prolong the current supply glut, although a weaker dollar limited losses.
MARKET NEWS
* U.S. and European stocks declined on Monday as investors fretted about Greece and the timing of a U.S. rate hike, while bond yields rose and the dollar fell.
RELATED
> Russia starts grain deliveries to Iran, sends 100,000 T- RIA
> China May soy imports rise on South American shipments
> Malaysia plans to implement B10 biodiesel by Oct 2015- minister
> Indonesia replaces Bulog food agency chief
> After oil price drop, Algeria tries to boost food crops
> China May soy imports rise on South American shipments
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data
on Malaysia's June 1-10 palm oil exports on June 10.
> Industry regulator the Malaysian Palm Oil Board (MPOB) to release data on Malaysia's end-May
palm oil stocks, exports and production on June 10.
Palm, soy and crude oil prices at 0452 GMT
Contract Month Last Change Low High Volume
MY PALM OIL FEB5 2240 -24.00 2230 2254 29
MY PALM OIL MAR5 2228 -19.00 2220 2249 388
MY PALM OIL APR5 2210 -20.00 2202 2222 7986
CHINA PALM OLEIN MAY5 4846 -22.00 4844 4874 180294
CHINA SOYOIL MAY5 5514 -52.00 5508 5562 240078
CBOT SOY OIL MAR5 31.48 -3.50 31.47 31.57 2367
INDIA PALM OIL JAN5 434.90 -3.50 434.00 439.50 488
INDIA SOYOIL FEB5 616.00 -9.00 615.70 624.80 50145
NYMEX CRUDE MAR5 45.06 -0.53 44.35 45.35 25835
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