MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch July 24
VEGOILS-Market Factors to Watch July 24
24/07/2015 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures declined in quiet trading on Thursday, extending losses into a second session after declines in competing markets, potential Russian limits on the use of the tropical oil and concerns over recent export data.
* U.S. soybean futures fell on Thursday as improving weather in major Midwest growing areas increased expectations of ample production, traders said.
* Brent crude oil futures settled at its lowest since April on Thursday and U.S. crude fell into bear market territory and ended below $49 a barrel for the first time since late March, as persistent concerns about ample supply and shaky demand offset support from the dollar's weakness.
MARKET NEWS
* Wall Street stocks dropped for a third day on Thursday, sagging under weak corporate profit reports that left the Dow Jones industrials index in the red for 2015, while strong U.S. labor market data supported a weak dollar.
RELATED
> Illinois seeks USDA disaster declaration due to flooding
> Commodities shipper Trans Coastal Supply Co files for bankruptcy
> Brazil coffee crop 62 percent harvested -Safras
> U.S. soy falls on improving crop prospects; corn, wheat firm
> Campaign group accuses Liberia palm oil firm of exploiting Ebola crisis
> U.S. House passes anti-GMO labeling law
> Durum, spring wheat yields dip in Alberta, Saskatchewan
> CME fields complaints on soy crush spread after futures pits close
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's July 1-25 palm oil exports on July 25.
Palm, soy and crude oil prices at 0021 GMT
Contract Month Last Change Low High Volume
MY PALM OIL AUG5 0 +0.00 0 0 0
MY PALM OIL SEP5 0 +0.00 0 0 0
MY PALM OIL OCT5 0 +0.00 0 0 0
CHINA PALM OLEIN JAN6 4874 -20.00 4862 4900 235424
CHINA SOYOIL JAN6 5594 -30.00 5582 5634 248918
CBOT SOY OIL DEC5 31.56 -2.20 31.51 31.63 367
INDIA PALM OIL JUL5 429.40 -2.20 429.10 431.90 422
INDIA SOYOIL AUG5 571.40 -4.15 571.00 576.00 39230
NYMEX CRUDE SEP5 48.86 +0.41 48.67 48.89 1632
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 declined in quiet trading on Thursday, extending losses into a second session after declines in competing markets, potential Russian limits on the use of the tropical oil and concerns over recent export data.
* U.S. soybean futures fell on Thursday as improving weather in major Midwest growing areas increased expectations of ample production, traders said.
* Brent crude oil futures settled at its lowest since April on Thursday and U.S. crude fell into bear market territory and ended below $49 a barrel for the first time since late March, as persistent concerns about ample supply and shaky demand offset support from the dollar's weakness.
MARKET NEWS
* Wall Street stocks dropped for a third day on Thursday, sagging under weak corporate profit reports that left the Dow Jones industrials index in the red for 2015, while strong U.S. labor market data supported a weak dollar.
RELATED
> Illinois seeks USDA disaster declaration due to flooding
> Commodities shipper Trans Coastal Supply Co files for bankruptcy
> Brazil coffee crop 62 percent harvested -Safras
> U.S. soy falls on improving crop prospects; corn, wheat firm
> Campaign group accuses Liberia palm oil firm of exploiting Ebola crisis
> U.S. House passes anti-GMO labeling law
> Durum, spring wheat yields dip in Alberta, Saskatchewan
> CME fields complaints on soy crush spread after futures pits close
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's July 1-25 palm oil exports on July 25.
Palm, soy and crude oil prices at 0021 GMT
Contract Month Last Change Low High Volume
MY PALM OIL AUG5 0 +0.00 0 0 0
MY PALM OIL SEP5 0 +0.00 0 0 0
MY PALM OIL OCT5 0 +0.00 0 0 0
CHINA PALM OLEIN JAN6 4874 -20.00 4862 4900 235424
CHINA SOYOIL JAN6 5594 -30.00 5582 5634 248918
CBOT SOY OIL DEC5 31.56 -2.20 31.51 31.63 367
INDIA PALM OIL JUL5 429.40 -2.20 429.10 431.90 422
INDIA SOYOIL AUG5 571.40 -4.15 571.00 576.00 39230
NYMEX CRUDE SEP5 48.86 +0.41 48.67 48.89 1632
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