MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Sept 2
VEGOILS-Market Factors to Watch Sept 2
02/09/2015 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures rose for a third day in strong trading on Tuesday after a jump in crude oil prices overnight and gains in competing vegetable oil markets.
* Chicago Board of Trade corn and soybean futures fell sharply on Tuesday on concerns that commodity purchases from China will slow as that country's economy softens, traders said.
* Oil prices plummeted on Tuesday, settling 8 percent lower, as weak Chinese data extended a roller-coaster run that knocked oil to its lowest in 6-1/2 years last week before frenzied short-covering fueled a 25 percent three-session surge.
MARKET NEWS
* Asian shares got off on the back foot on Wednesday after weak manufacturing activity reports from both the U.S. and China sent Wall Street reeling, while the dollar steadied after steep losses.
RELATED
> USDA says corn use in ethanol production increased in July
> European vegoils-Palm oil eases on weak CBOT, China economy
> Soybeans, corn fall as China woes raise export concerns
> Mongolia in for double whammy: drought now, "dzud" next
> Dry weather to favor harvest in Brazil's coffee, sugar cane belt
> Brazil power generation from biomass jump 15 pct in 2015
> Raw sugar inches up, arabica dips as Brazil currency softens
> Ghana's Cocobod says paid back $1.7 billion cocoa loan
DATA/EVENTS
> Malaysian Palm Oil Board to release data on Malaysia's August palm oil production on September 10.
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's September 1-10 palm oil exports on September 10.
Palm, soy and crude oil prices at 0045 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 4290 +0.00 4270 4314 260004
CHINA SOYOIL JAN6 5356 -30.00 5346 5392 218684
CBOT SOY OIL DEC5 27.30 +0.80 27.27 27.55 2558
INDIA PALM OIL SEP5 376.50 +0.80 375.40 382.00 3001
INDIA SOYOIL OCT5 574.45 +0.30 574.10 579.20 64230
NYMEX CRUDE OCT5 44.58 -0.83 43.86 44.79 9853
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 rose for a third day in strong trading on Tuesday after a jump in crude oil prices overnight and gains in competing vegetable oil markets.
* Chicago Board of Trade corn and soybean futures fell sharply on Tuesday on concerns that commodity purchases from China will slow as that country's economy softens, traders said.
* Oil prices plummeted on Tuesday, settling 8 percent lower, as weak Chinese data extended a roller-coaster run that knocked oil to its lowest in 6-1/2 years last week before frenzied short-covering fueled a 25 percent three-session surge.
MARKET NEWS
* Asian shares got off on the back foot on Wednesday after weak manufacturing activity reports from both the U.S. and China sent Wall Street reeling, while the dollar steadied after steep losses.
RELATED
> USDA says corn use in ethanol production increased in July
> European vegoils-Palm oil eases on weak CBOT, China economy
> Soybeans, corn fall as China woes raise export concerns
> Mongolia in for double whammy: drought now, "dzud" next
> Dry weather to favor harvest in Brazil's coffee, sugar cane belt
> Brazil power generation from biomass jump 15 pct in 2015
> Raw sugar inches up, arabica dips as Brazil currency softens
> Ghana's Cocobod says paid back $1.7 billion cocoa loan
DATA/EVENTS
> Malaysian Palm Oil Board to release data on Malaysia's August palm oil production on September 10.
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's September 1-10 palm oil exports on September 10.
Palm, soy and crude oil prices at 0045 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 4290 +0.00 4270 4314 260004
CHINA SOYOIL JAN6 5356 -30.00 5346 5392 218684
CBOT SOY OIL DEC5 27.30 +0.80 27.27 27.55 2558
INDIA PALM OIL SEP5 376.50 +0.80 375.40 382.00 3001
INDIA SOYOIL OCT5 574.45 +0.30 574.10 579.20 64230
NYMEX CRUDE OCT5 44.58 -0.83 43.86 44.79 9853
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