MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch July 4
VEGOILS-Market Factors to Watch July 4
04/07/2016 (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 second session in four on Friday as better performing rival soy oil gave the market a late boost even though a stronger ringgit MYR= weighed on prices earlier in the day.
* U.S. wheat futures sank to multi-year lows on Friday, pressured by an ample global stockpile that was expected to grow even larger due to a bountiful harvest, traders said.
* Crude prices extended gains on Monday in Asia, supported by comments from the Saudi energy minister saying the oil market is heading towards balance.
MARKET NEWS
* Global stock markets climbed for a fourth day and government bond yields around the world hit their lowest levels in years on Friday, driven by the prospect of further cuts in interest rates and more central bank bond buying to support weak economies.
RELATED
> No respite for Brazil's meat industry as farmers aim to plant more soy
> China's summer harvest expected to produce 140 million tonnes of grain
> Ukraine 2015/16 grain exports hits record high 39.4 mln T - ministry
> Palm oil firms ditch "no deforestation" pact in Indonesia
> Williams names new chair, stands by CEO after board upheaval
Palm, soy and crude oil prices at 0023 GMT
Contract Month Last Change Low High Volume
MY PALM OIL JUL6 0 +0.00 0 0 0
MY PALM OIL AUG6 0 +0.00 0 0 0
MY PALM OIL SEP6 0 +0.00 0 0 0
CHINA PALM OLEIN SEP6 5270 +22.00 5216 5288 326882
CHINA SOYOIL SEP6 6272 +50.00 6230 6298 208864
CBOT SOY OIL DEC6 31.64 -4.00 31.6 32.48 45628
INDIA PALM OIL JUL6 500.70 -4.00 500.20 507.4 2785
INDIA SOYOIL JUL6 640.45 +3.00 638.1 642 41580
NYMEX CRUDE AUG6 49.06 +0.07 48.93 49.23 5136
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 second session in four on Friday as better performing rival soy oil gave the market a late boost even though a stronger ringgit MYR= weighed on prices earlier in the day.
* U.S. wheat futures sank to multi-year lows on Friday, pressured by an ample global stockpile that was expected to grow even larger due to a bountiful harvest, traders said.
* Crude prices extended gains on Monday in Asia, supported by comments from the Saudi energy minister saying the oil market is heading towards balance.
MARKET NEWS
* Global stock markets climbed for a fourth day and government bond yields around the world hit their lowest levels in years on Friday, driven by the prospect of further cuts in interest rates and more central bank bond buying to support weak economies.
RELATED
> No respite for Brazil's meat industry as farmers aim to plant more soy
> China's summer harvest expected to produce 140 million tonnes of grain
> Ukraine 2015/16 grain exports hits record high 39.4 mln T - ministry
> Palm oil firms ditch "no deforestation" pact in Indonesia
> Williams names new chair, stands by CEO after board upheaval
Palm, soy and crude oil prices at 0023 GMT
Contract Month Last Change Low High Volume
MY PALM OIL JUL6 0 +0.00 0 0 0
MY PALM OIL AUG6 0 +0.00 0 0 0
MY PALM OIL SEP6 0 +0.00 0 0 0
CHINA PALM OLEIN SEP6 5270 +22.00 5216 5288 326882
CHINA SOYOIL SEP6 6272 +50.00 6230 6298 208864
CBOT SOY OIL DEC6 31.64 -4.00 31.6 32.48 45628
INDIA PALM OIL JUL6 500.70 -4.00 500.20 507.4 2785
INDIA SOYOIL JUL6 640.45 +3.00 638.1 642 41580
NYMEX CRUDE AUG6 49.06 +0.07 48.93 49.23 5136
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