MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch August 7
VEGOILS-Market Factors to Watch August 7
07/08/2015 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures slid for a second straight session on Thursday to their lowest in almost a year, with pressure from slowing imports by top consumers India and China amid expectations of higher production.
* Soybean and corn futures slipped on Thursday, pressured by disappointing U.S. export sales, forecasts for mostly favorable Midwest weather and technical selling.
* Oil set multi-month lows on Thursday as investors and traders sought clues about the market's next bottom after a large drop in U.S. crude inventories failed to boost prices.
MARKET NEWS
* Asian shares got off on the back foot on Friday, on track for a weekly loss, following Wall Street lower as caution reigned ahead of U.S. employment data that may help determine whether the Federal Reserve could raise interest rates as early as next month.
RELATED
> Malaysian palm oil producers renew expansion push into Philippines
> Olam's $1.3 bln deal for ADM's cocoa business hits delays
> Brazil mills selling ethanol as fast as possible - Unica
> World food prices fall in July to lowest in 6 years
> Fertilizer maker CF Industries to buy OCI assets for $6 billion
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's August 1-10 palm oil exports on August 10.
Palm, soy and crude oil prices at 0009 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 4784 +28.00 4766 4798 253962
CHINA SOYOIL JAN6 5520 +24.00 5496 5542 214348
CBOT SOY OIL DEC5 30.66 -2.00 30.64 30.71 291
INDIA PALM OIL JUL5 419.10 -2.00 417.50 420.40 856
INDIA SOYOIL AUG5 576.50 +6.00 568.20 576.60 66095
NYMEX CRUDE SEP5 48.50 -0.02 48.43 48.57 1325
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 slid for a second straight session on Thursday to their lowest in almost a year, with pressure from slowing imports by top consumers India and China amid expectations of higher production.
* Soybean and corn futures slipped on Thursday, pressured by disappointing U.S. export sales, forecasts for mostly favorable Midwest weather and technical selling.
* Oil set multi-month lows on Thursday as investors and traders sought clues about the market's next bottom after a large drop in U.S. crude inventories failed to boost prices.
MARKET NEWS
* Asian shares got off on the back foot on Friday, on track for a weekly loss, following Wall Street lower as caution reigned ahead of U.S. employment data that may help determine whether the Federal Reserve could raise interest rates as early as next month.
RELATED
> Malaysian palm oil producers renew expansion push into Philippines
> Olam's $1.3 bln deal for ADM's cocoa business hits delays
> Brazil mills selling ethanol as fast as possible - Unica
> World food prices fall in July to lowest in 6 years
> Fertilizer maker CF Industries to buy OCI assets for $6 billion
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's August 1-10 palm oil exports on August 10.
Palm, soy and crude oil prices at 0009 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 4784 +28.00 4766 4798 253962
CHINA SOYOIL JAN6 5520 +24.00 5496 5542 214348
CBOT SOY OIL DEC5 30.66 -2.00 30.64 30.71 291
INDIA PALM OIL JUL5 419.10 -2.00 417.50 420.40 856
INDIA SOYOIL AUG5 576.50 +6.00 568.20 576.60 66095
NYMEX CRUDE SEP5 48.50 -0.02 48.43 48.57 1325
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