MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch July 5
VEGOILS-Market Factors to Watch July 5
05/07/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures rose to a one-week high on Monday, lifted by weaker-than-expected output and short-covering before public holidays.
* 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.
* Global oil prices eased on Monday after comments by Saudi Energy Minister Khaled Al-Faleh that the market was heading towards balance were tempered by slowing demand in Asia, pockets of gasoline oversupply and signs crude output could rise.
MARKET NEWS
* The post-Brexit recovery across European markets sputtered to a halt on Monday with major equity indices lower and safe-haven demand for precious metals helping the price of silver surge to near a two-year high.
RELATED
> European feeds-Poor margins and U.S. holiday slow activity
> Ivory Coast weather mixed for main cocoa crop, concerns remain
> Food commodity prices to remain stable over next decade - FAO/OECD
> Russian wheat prices down as harvesting starts, benchmarks fall
> Monsoon covers nearly entire India; narrows rainfall deficit
Palm, soy and crude oil prices at 0004 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 5370 +42.00 5306 5408 442088
CHINA SOYOIL SEP6 6450 +74.00 6368 6498 429766
CBOT SOY OIL DEC6 31.64 +9.00 0 0 0
INDIA PALM OIL JUL6 510.50 +9.00 503.40 511.9 2298
INDIA SOYOIL JUL6 645.95 +6.65 638 647 26170
NYMEX CRUDE AUG6 48.64 -0.35 48.52 49.35 107750
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 to a one-week high on Monday, lifted by weaker-than-expected output and short-covering before public holidays.
* 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.
* Global oil prices eased on Monday after comments by Saudi Energy Minister Khaled Al-Faleh that the market was heading towards balance were tempered by slowing demand in Asia, pockets of gasoline oversupply and signs crude output could rise.
MARKET NEWS
* The post-Brexit recovery across European markets sputtered to a halt on Monday with major equity indices lower and safe-haven demand for precious metals helping the price of silver surge to near a two-year high.
RELATED
> European feeds-Poor margins and U.S. holiday slow activity
> Ivory Coast weather mixed for main cocoa crop, concerns remain
> Food commodity prices to remain stable over next decade - FAO/OECD
> Russian wheat prices down as harvesting starts, benchmarks fall
> Monsoon covers nearly entire India; narrows rainfall deficit
Palm, soy and crude oil prices at 0004 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 5370 +42.00 5306 5408 442088
CHINA SOYOIL SEP6 6450 +74.00 6368 6498 429766
CBOT SOY OIL DEC6 31.64 +9.00 0 0 0
INDIA PALM OIL JUL6 510.50 +9.00 503.40 511.9 2298
INDIA SOYOIL JUL6 645.95 +6.65 638 647 26170
NYMEX CRUDE AUG6 48.64 -0.35 48.52 49.35 107750
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