MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch August 13
VEGOILS-Market Factors to Watch August 13
13/08/2015 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures fell on Wednesday on concerns that demand from key buyer China could decline after the nation devalued its currency, and as prices of rival soyoil dropped.
* U.S. soybean futures plunged 6 percent and both corn and soybeans briefly fell their respective daily limits on Wednesday after the U.S. Department of Agriculture surprised traders by raising its estimates for domestic corn and soybean crops in a monthly report.
* Oil ended up on Wednesday as a weaker dollar and lower U.S. crude stockpiles provided a modest bounce off six-year lows hit the previous session, when worries about China's plummeting currency and economic slowdown deflated prices.
MARKET NEWS
* Stocks, the U.S. dollar, and emerging market currencies around the world remained under pressure for a second day on Wednesday after China's yuan weakened again, a day after the country devalued its currency.
RELATED
> Argentine grains farmers to hold 5-day sales strike
> Brazil fertilizer sales expected to fall in 2015 -Mosaic
> USDA hikes outlook for 2015-16 sugar supplies
> USDA sees bumper corn, soy crops despite floods; futures sink
> Russia grain crop outlook seen brighter on favourable weather
> Egypt's FIHC buys soyoil and sunflower oil in tender -trade
> Danube river shipping blocked in Germany after ship runs aground
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 0029 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 4684 +52.00 4654 4724 494834
CHINA SOYOIL JAN6 5698 +96.00 5660 5736 456838
CBOT SOY OIL DEC5 29.47 -3.50 29.46 29.60 973
INDIA PALM OIL AUG5 393.70 -3.50 390.90 397.80 1863
INDIA SOYOIL AUG5 580.50 +3.15 576.40 580.50 18070
NYMEX CRUDE SEP5 43.26 -0.04 43.24 43.46 1904
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 fell on Wednesday on concerns that demand from key buyer China could decline after the nation devalued its currency, and as prices of rival soyoil dropped.
* U.S. soybean futures plunged 6 percent and both corn and soybeans briefly fell their respective daily limits on Wednesday after the U.S. Department of Agriculture surprised traders by raising its estimates for domestic corn and soybean crops in a monthly report.
* Oil ended up on Wednesday as a weaker dollar and lower U.S. crude stockpiles provided a modest bounce off six-year lows hit the previous session, when worries about China's plummeting currency and economic slowdown deflated prices.
MARKET NEWS
* Stocks, the U.S. dollar, and emerging market currencies around the world remained under pressure for a second day on Wednesday after China's yuan weakened again, a day after the country devalued its currency.
RELATED
> Argentine grains farmers to hold 5-day sales strike
> Brazil fertilizer sales expected to fall in 2015 -Mosaic
> USDA hikes outlook for 2015-16 sugar supplies
> USDA sees bumper corn, soy crops despite floods; futures sink
> Russia grain crop outlook seen brighter on favourable weather
> Egypt's FIHC buys soyoil and sunflower oil in tender -trade
> Danube river shipping blocked in Germany after ship runs aground
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 0029 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 4684 +52.00 4654 4724 494834
CHINA SOYOIL JAN6 5698 +96.00 5660 5736 456838
CBOT SOY OIL DEC5 29.47 -3.50 29.46 29.60 973
INDIA PALM OIL AUG5 393.70 -3.50 390.90 397.80 1863
INDIA SOYOIL AUG5 580.50 +3.15 576.40 580.50 18070
NYMEX CRUDE SEP5 43.26 -0.04 43.24 43.46 1904
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