MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch July 13
VEGOILS-Market Factors to Watch July 13
13/07/2016 (Reuters) – The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures plunged to a near 10-month low on Tuesday after data showed exports plummeted more than expected and on a appreciating ringgit.
* U.S. grain futures rose on Tuesday, with soybeans touching a one-week high, on worries that a heat wave may threaten crops later this summer.
* Oil prices surged 5 percent on Tuesday, the biggest daily gain since April, as investors covering of short positions and a technical rebound helped lift the market from two-month lows.
MARKET NEWS
* The benchmark U.S. S&P 500 stock index set record closing and intraday highs for the second straight day on Tuesday and the Dow Jones industrial average reached record highs for the first time in over a year as optimism about the world economy and upbeat corporate results from Alcoa boosted risk appetite.
RELATED
> Malaysia palm oil stocks see first gain in 7 months as demand tumbles
> France sees soft wheat output down 10 pct on weather woes
> Rising exports to cut U.S. corn stocks more than expected -USDA
> Oil and shipping markets on edge after South China Sea ruling
> EIA cuts 2016 U.S. oil demand growth forecast
Palm, soy and crude oil prices at 0027 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 5030 +18.00 4970 5044 201442
CHINA SOYOIL SEP6 6074 +44.00 5996 6078 199764
CBOT SOY OIL DEC6 31.42 -2.20 31.32 31.55 866
INDIA PALM OIL JUL6 491.00 -2.20 484.80 492.4 2997
INDIA SOYOIL JUL6 625 -0.95 621 625.4 8290
NYMEX CRUDE AUG6 46.23 -0.57 46.20 46.59 6467
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 plunged to a near 10-month low on Tuesday after data showed exports plummeted more than expected and on a appreciating ringgit.
* U.S. grain futures rose on Tuesday, with soybeans touching a one-week high, on worries that a heat wave may threaten crops later this summer.
* Oil prices surged 5 percent on Tuesday, the biggest daily gain since April, as investors covering of short positions and a technical rebound helped lift the market from two-month lows.
MARKET NEWS
* The benchmark U.S. S&P 500 stock index set record closing and intraday highs for the second straight day on Tuesday and the Dow Jones industrial average reached record highs for the first time in over a year as optimism about the world economy and upbeat corporate results from Alcoa boosted risk appetite.
RELATED
> Malaysia palm oil stocks see first gain in 7 months as demand tumbles
> France sees soft wheat output down 10 pct on weather woes
> Rising exports to cut U.S. corn stocks more than expected -USDA
> Oil and shipping markets on edge after South China Sea ruling
> EIA cuts 2016 U.S. oil demand growth forecast
Palm, soy and crude oil prices at 0027 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 5030 +18.00 4970 5044 201442
CHINA SOYOIL SEP6 6074 +44.00 5996 6078 199764
CBOT SOY OIL DEC6 31.42 -2.20 31.32 31.55 866
INDIA PALM OIL JUL6 491.00 -2.20 484.80 492.4 2997
INDIA SOYOIL JUL6 625 -0.95 621 625.4 8290
NYMEX CRUDE AUG6 46.23 -0.57 46.20 46.59 6467
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