MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch July 30
VEGOILS-Market Factors to Watch July 30
30/07/2015 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures hit fresh 3-month lows on Wednesday, reversing a brief respite in a sixth-straight day of declines during morning trading, as concerns over export demand outlook for the edible oil triggered prices to fall further.
* U.S. soybeans rose for a second straight day on Wednesday, recovering some recent losses ahead of a critical development period for the oilseed, while corn and wheat resumed their slides on a favorable U.S. harvest outlook.
* Oil settled higher on Wednesday, recovering from multi-month lows, after U.S. government data showed a surprisingly large crude stockpile draw that signaled the market may have been wrong in predicting slumping demand for energy.
MARKET NEWS
* Global equity markets rose on Wednesday, lifted by strong U.S. and European corporate earnings and a Federal Reserve statement that said the U.S. economy continues to strengthen, adding to expectations an interest rate hike is getting closer.
RELATED
> Brazil ships 1st corn cargo from new grains terminal in Maranhao
> S&P warning portends grim road ahead for Brazil
> Russia reaps record grain harvest from biggest Black Sea region
DATA/EVENTS
> nil.
Palm, soy and crude oil prices at 0017 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 4780 +2.00 4734 4784 261600
CHINA SOYOIL JAN6 5524 +18.00 5468 5528 222452
CBOT SOY OIL DEC5 30.65 -3.70 30.58 30.66 334
INDIA PALM OIL JUL5 421.00 -3.70 419.20 424.50 900
INDIA SOYOIL AUG5 571.10 +2.15 567.50 571.40 45350
NYMEX CRUDE SEP5 48.86 +0.07 48.79 49.02 2184
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 hit fresh 3-month lows on Wednesday, reversing a brief respite in a sixth-straight day of declines during morning trading, as concerns over export demand outlook for the edible oil triggered prices to fall further.
* U.S. soybeans rose for a second straight day on Wednesday, recovering some recent losses ahead of a critical development period for the oilseed, while corn and wheat resumed their slides on a favorable U.S. harvest outlook.
* Oil settled higher on Wednesday, recovering from multi-month lows, after U.S. government data showed a surprisingly large crude stockpile draw that signaled the market may have been wrong in predicting slumping demand for energy.
MARKET NEWS
* Global equity markets rose on Wednesday, lifted by strong U.S. and European corporate earnings and a Federal Reserve statement that said the U.S. economy continues to strengthen, adding to expectations an interest rate hike is getting closer.
RELATED
> Brazil ships 1st corn cargo from new grains terminal in Maranhao
> S&P warning portends grim road ahead for Brazil
> Russia reaps record grain harvest from biggest Black Sea region
DATA/EVENTS
> nil.
Palm, soy and crude oil prices at 0017 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 4780 +2.00 4734 4784 261600
CHINA SOYOIL JAN6 5524 +18.00 5468 5528 222452
CBOT SOY OIL DEC5 30.65 -3.70 30.58 30.66 334
INDIA PALM OIL JUL5 421.00 -3.70 419.20 424.50 900
INDIA SOYOIL AUG5 571.10 +2.15 567.50 571.40 45350
NYMEX CRUDE SEP5 48.86 +0.07 48.79 49.02 2184
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