MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch August 12
VEGOILS-Market Factors to Watch August 12
12/08/2015 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures edged up on Tuesday after the ringgit weakened to fresh 17-year lows, but remained not far off their 11-month troughs as recent data showed tepid demand for the edible oil, traders said.
* U.S. corn and soybean futures fell on Tuesday from two-week highs as stable crop ratings eased concerns about dry Midwest weather, while China's devaluation of the yuan led to broad weakness in commodity markets.
* U.S. crude settled at a more than six-year low on Tuesday after China's currency devaluation raised questions about oil demand in the No. 2 consumer and a new OPEC estimate showed non-member producers are likely to keep output high despite low prices.
MARKET NEWS
* China's 2 percent devaluation of the yuan hit global equities and U.S. oil prices on Tuesday with investors fearing a new currency war as well as declining Chinese economic momentum.
RELATED
> China currency move latest headache for U.S. soy exporters
> Floods threaten to reduce Argentina's 2015/16 wheat harvest
> COMMODITIES-Oil to copper to corn unhinged by shock China devaluation
> Brazil sugar cane, coffee harvests to stay dry until end August
> Scorching Ukraine heat may cut maize crop by around 10 pct
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's August 1-15 palm oil exports on August 15.
Palm, soy and crude oil prices at 0022 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 4604 -16.00 4596 4660 362604
CHINA SOYOIL JAN6 5578 -16.00 5556 5622 354858
CBOT SOY OIL DEC5 30.45 -5.20 30.45 30.50 678
INDIA PALM OIL AUG5 396.80 -5.20 396.60 402.00 1242
INDIA SOYOIL AUG5 577.15 -1.25 576.10 580.20 28115
NYMEX CRUDE SEP5 43.53 +0.45 43.14 43.70 7239
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 Tuesday after the ringgit weakened to fresh 17-year lows, but remained not far off their 11-month troughs as recent data showed tepid demand for the edible oil, traders said.
* U.S. corn and soybean futures fell on Tuesday from two-week highs as stable crop ratings eased concerns about dry Midwest weather, while China's devaluation of the yuan led to broad weakness in commodity markets.
* U.S. crude settled at a more than six-year low on Tuesday after China's currency devaluation raised questions about oil demand in the No. 2 consumer and a new OPEC estimate showed non-member producers are likely to keep output high despite low prices.
MARKET NEWS
* China's 2 percent devaluation of the yuan hit global equities and U.S. oil prices on Tuesday with investors fearing a new currency war as well as declining Chinese economic momentum.
RELATED
> China currency move latest headache for U.S. soy exporters
> Floods threaten to reduce Argentina's 2015/16 wheat harvest
> COMMODITIES-Oil to copper to corn unhinged by shock China devaluation
> Brazil sugar cane, coffee harvests to stay dry until end August
> Scorching Ukraine heat may cut maize crop by around 10 pct
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's August 1-15 palm oil exports on August 15.
Palm, soy and crude oil prices at 0022 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 4604 -16.00 4596 4660 362604
CHINA SOYOIL JAN6 5578 -16.00 5556 5622 354858
CBOT SOY OIL DEC5 30.45 -5.20 30.45 30.50 678
INDIA PALM OIL AUG5 396.80 -5.20 396.60 402.00 1242
INDIA SOYOIL AUG5 577.15 -1.25 576.10 580.20 28115
NYMEX CRUDE SEP5 43.53 +0.45 43.14 43.70 7239
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