MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Aug 2
VEGOILS-Market Factors to Watch Aug 2
02/08/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures rose to their highest levels in more than a week on Monday, supported by improving demand and a technical correction after trading at around 8-month lows.
* U.S. soybean futures slipped about 4 percent on Monday as forecasts for favorable weather in the Midwestern crop belt prompted investors to liquidate long positions, traders said.
* U.S. crude tumbled below $40 per barrel on Monday for the first time since April, as oil prices settled down nearly 4 percent on heightened worries of a crude glut despite peak summer fuel demand.
MARKET NEWS
* Oil prices tumbled on Monday on worries of a crude glut, putting pressure on energy shares and giving pause to global equity prices, which have rallied to their highest in nearly a year.
RELATED
> Japan, S.Korea block certain U.S. wheat varieties over GMO concerns - USDA
> U.S. EPA should change biofuels program to help small fuel retailers - letter
> Brazil credit outlook weak amid political uncertainty -Moody's
> Dense fog halts movement of ships at Brazil's biggest port
> Indian weather office retains forecast of above-average monsoon
Palm, soy and crude oil prices at 0007 GMT
Contract Month Last Change Low High Volume
MY PALM OIL AUG6 0 +0.00 0 0 0
MY PALM OIL SEP6 0 +0.00 0 0 0
MY PALM OIL OCT6 0 +0.00 0 0 0
CHINA PALM OLEIN JAN7 5042 -40.00 5038 5106 312494
CHINA SOYOIL JAN7 6102 -26.00 6100 6166 218676
CBOT SOY OIL DEC6 30.09 -0.10 30.06 30.22 662
INDIA PALM OIL AUG6 504.60 -0.10 504.60 509 2315
INDIA SOYOIL AUG6 626.75 -0.05 626.6 631 40280
NYMEX CRUDE SEP6 40.17 +0.11 40.05 40.20 3357
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 their highest levels in more than a week on Monday, supported by improving demand and a technical correction after trading at around 8-month lows.
* U.S. soybean futures slipped about 4 percent on Monday as forecasts for favorable weather in the Midwestern crop belt prompted investors to liquidate long positions, traders said.
* U.S. crude tumbled below $40 per barrel on Monday for the first time since April, as oil prices settled down nearly 4 percent on heightened worries of a crude glut despite peak summer fuel demand.
MARKET NEWS
* Oil prices tumbled on Monday on worries of a crude glut, putting pressure on energy shares and giving pause to global equity prices, which have rallied to their highest in nearly a year.
RELATED
> Japan, S.Korea block certain U.S. wheat varieties over GMO concerns - USDA
> U.S. EPA should change biofuels program to help small fuel retailers - letter
> Brazil credit outlook weak amid political uncertainty -Moody's
> Dense fog halts movement of ships at Brazil's biggest port
> Indian weather office retains forecast of above-average monsoon
Palm, soy and crude oil prices at 0007 GMT
Contract Month Last Change Low High Volume
MY PALM OIL AUG6 0 +0.00 0 0 0
MY PALM OIL SEP6 0 +0.00 0 0 0
MY PALM OIL OCT6 0 +0.00 0 0 0
CHINA PALM OLEIN JAN7 5042 -40.00 5038 5106 312494
CHINA SOYOIL JAN7 6102 -26.00 6100 6166 218676
CBOT SOY OIL DEC6 30.09 -0.10 30.06 30.22 662
INDIA PALM OIL AUG6 504.60 -0.10 504.60 509 2315
INDIA SOYOIL AUG6 626.75 -0.05 626.6 631 40280
NYMEX CRUDE SEP6 40.17 +0.11 40.05 40.20 3357
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