MARKET DEVELOPMENT
Vegoils - Market Factors to Watch Monday July 13
Vegoils - Market Factors to Watch Monday July 13
13/07/2015 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Monday July 13.
FUNDAMENTALS
* Malaysian palm oil futures edged up on Friday, extending gains from the previous session after inventories dropped for the first time since February on the back of lower output and a jump in exports in June.
* U.S. corn futures reached one-year highs and soybeans jumped on Friday as the U.S. Agriculture Department made bigger-than-expected cuts to its estimates for stocks of crops left over from last year's harvests.
* Crude futures settled little changed on Friday after data showed the U.S. oil rig count barely rose this week, allaying fears of an acceleration in drilling that could bring on a surfeit of new supply to the market.
MARKET NEWS
* The euro slipped in early Asian trading on Monday while top-rated bonds caught a safe-haven bid as the Greek debt crisis seemed set to rumble on for yet another week while a key reading on economic growth loomed for Chinese markets.
RELATED
> Paris wheat flat as market weighs U.S. rally, higher euro
> EU maize crops feel strain of dry, hot spell
> U.S. old-crop soy, corn stocks miss forecasts, prices soar
> UK wheat exports slow during May, imports edge up
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's July 1-20 palm oil exports on July 20.
Palm, soy and crude oil prices at 0013 GMT
Contract Month Last Change Low High Volume
MY PALM OIL JUL5 0 +0.00 0 0 0
MY PALM OIL AUG5 0 +0.00 0 0 0
MY PALM OIL SEP5 0 +0.00 0 0 0
CHINA PALM OLEIN JAN6 4896 +14.00 4880 4950 228558
CHINA SOYOIL JAN6 5684 +44.00 5670 5750 261366
CBOT SOY OIL DEC5 33.02 -4.30 32.73 33.03 976
INDIA PALM OIL JUL5 431.40 -4.30 431.30 436.30 991
INDIA SOYOIL AUG5 579.30 -1.45 578.70 583.40 61815
NYMEX CRUDE AUG5 52.16 -0.58 51.28 52.80 5827
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 edged up on Friday, extending gains from the previous session after inventories dropped for the first time since February on the back of lower output and a jump in exports in June.
* U.S. corn futures reached one-year highs and soybeans jumped on Friday as the U.S. Agriculture Department made bigger-than-expected cuts to its estimates for stocks of crops left over from last year's harvests.
* Crude futures settled little changed on Friday after data showed the U.S. oil rig count barely rose this week, allaying fears of an acceleration in drilling that could bring on a surfeit of new supply to the market.
MARKET NEWS
* The euro slipped in early Asian trading on Monday while top-rated bonds caught a safe-haven bid as the Greek debt crisis seemed set to rumble on for yet another week while a key reading on economic growth loomed for Chinese markets.
RELATED
> Paris wheat flat as market weighs U.S. rally, higher euro
> EU maize crops feel strain of dry, hot spell
> U.S. old-crop soy, corn stocks miss forecasts, prices soar
> UK wheat exports slow during May, imports edge up
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's July 1-20 palm oil exports on July 20.
Palm, soy and crude oil prices at 0013 GMT
Contract Month Last Change Low High Volume
MY PALM OIL JUL5 0 +0.00 0 0 0
MY PALM OIL AUG5 0 +0.00 0 0 0
MY PALM OIL SEP5 0 +0.00 0 0 0
CHINA PALM OLEIN JAN6 4896 +14.00 4880 4950 228558
CHINA SOYOIL JAN6 5684 +44.00 5670 5750 261366
CBOT SOY OIL DEC5 33.02 -4.30 32.73 33.03 976
INDIA PALM OIL JUL5 431.40 -4.30 431.30 436.30 991
INDIA SOYOIL AUG5 579.30 -1.45 578.70 583.40 61815
NYMEX CRUDE AUG5 52.16 -0.58 51.28 52.80 5827
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