MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch August 24
VEGOILS-Market Factors to Watch August 24
24/08/2015 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures ended Friday's trading lower, posting its eighth consecutive weekly loss as another wave of China growth worries hit global commodity markets.
* U.S. grain and soybean futures fell on Friday as investor jitters about China's economy continued to cool confidence in commodity markets and early data from a recent industry crop tour showed strong yield potential in the western Corn Belt.
* U.S. oil prices traded below $40 a barrel for the first time since the 2009 financial crisis, ending 2 percent lower on Friday on signs of U.S. oversupply and weak Chinese manufacturing and notching the longest weekly losing streak in almost three decades.
MARKET NEWS
* Asian stocks and oil fell on Monday after Wall Street suffered another bruising blow as deepening concerns over the slowing Chinese economy continued to unnerve global equity markets.
RELATED
> Shares of Deere, other agriculture equipment makers slump
> Pro Farmer pegs smaller U.S. corn, soy crops than USDA view
> EU wheat hits new 3-month low as euro adds to export pressure
> Dry summer seen curbing Canada wheat, canola crops more than expected
> Olive oil price hits highest in nearly a decade on supply woes
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's August 1-25 palm oil exports on August 25.
Palm, soy and crude oil prices at 0050 GMT
Contract Month Last Change Low High Volume
MY PALM OIL SEP5 0 +0.00 0 0 0
MY PALM OIL OCT5 0 +0.00 0 0 0
MY PALM OIL NOV5 0 +0.00 0 0 0
CHINA PALM OLEIN JAN6 4384 -70.00 4372 4434 392084
CHINA SOYOIL JAN6 5464 -102.00 5446 5570 480770
CBOT SOY OIL DEC5 27.43 -7.60 27.43 27.56 767
INDIA PALM OIL AUG5 379.90 -7.60 379.20 387.80 2548
INDIA SOYOIL OCT5 572.00 -1.35 571.00 575.30 42870
NYMEX CRUDE OCT5 40.05 -0.40 39.94 40.47 5429
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 ended Friday's trading lower, posting its eighth consecutive weekly loss as another wave of China growth worries hit global commodity markets.
* U.S. grain and soybean futures fell on Friday as investor jitters about China's economy continued to cool confidence in commodity markets and early data from a recent industry crop tour showed strong yield potential in the western Corn Belt.
* U.S. oil prices traded below $40 a barrel for the first time since the 2009 financial crisis, ending 2 percent lower on Friday on signs of U.S. oversupply and weak Chinese manufacturing and notching the longest weekly losing streak in almost three decades.
MARKET NEWS
* Asian stocks and oil fell on Monday after Wall Street suffered another bruising blow as deepening concerns over the slowing Chinese economy continued to unnerve global equity markets.
RELATED
> Shares of Deere, other agriculture equipment makers slump
> Pro Farmer pegs smaller U.S. corn, soy crops than USDA view
> EU wheat hits new 3-month low as euro adds to export pressure
> Dry summer seen curbing Canada wheat, canola crops more than expected
> Olive oil price hits highest in nearly a decade on supply woes
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's August 1-25 palm oil exports on August 25.
Palm, soy and crude oil prices at 0050 GMT
Contract Month Last Change Low High Volume
MY PALM OIL SEP5 0 +0.00 0 0 0
MY PALM OIL OCT5 0 +0.00 0 0 0
MY PALM OIL NOV5 0 +0.00 0 0 0
CHINA PALM OLEIN JAN6 4384 -70.00 4372 4434 392084
CHINA SOYOIL JAN6 5464 -102.00 5446 5570 480770
CBOT SOY OIL DEC5 27.43 -7.60 27.43 27.56 767
INDIA PALM OIL AUG5 379.90 -7.60 379.20 387.80 2548
INDIA SOYOIL OCT5 572.00 -1.35 571.00 575.30 42870
NYMEX CRUDE OCT5 40.05 -0.40 39.94 40.47 5429
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