MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Aug 9
VEGOILS-Market Factors to Watch Aug 9
09/08/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures rose on Monday as traders reported tight physical supplies for the month of August and the market tracked firmer rival vegetable oils on the Chicago and Dalian exchanges.
* U.S. soybean futures rose to a one-week peak on Monday on strong export demand and drier-than-expected Midwest weather over the weekend, although forecasts for a bumper U.S harvest this autumn limited gains.
* Crude prices inched down on Tuesday in Asia, paring gains of nearly 3 percent from a day earlier, as worries over a global oil glut tempered speculation that OPEC would try to restrain output.
MARKET NEWS
* Asian shares stood atop one-year peaks on Tuesday as a desperate search for yield drove a record inflow into emerging market funds, while oil prices tried to sustain their latest bounce.
RELATED
> Tyson Foods projects record profits, shares hit high
> Farm tech investment drops off after record year
> Russian wheat prices up on concerns over Western Europe crop
> China's July soybean imports fall 18 pct on year ago
> New Zealand farming company bans use of palm to feed cows
Palm, soy and crude oil prices at 0059 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 5254 +70.00 5216 5280 298980
CHINA SOYOIL JAN7 6220 +58.00 6198 6252 203668
CBOT SOY OIL DEC6 31.48 +2.90 31.39 31.5 555
INDIA PALM OIL AUG6 529.50 +2.90 527.80 531.7 1845
INDIA SOYOIL AUG6 635.65 +0.25 634 637.4 21470
NYMEX CRUDE SEP6 42.78 -0.24 42.77 42.97 8314
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 on Monday as traders reported tight physical supplies for the month of August and the market tracked firmer rival vegetable oils on the Chicago and Dalian exchanges.
* U.S. soybean futures rose to a one-week peak on Monday on strong export demand and drier-than-expected Midwest weather over the weekend, although forecasts for a bumper U.S harvest this autumn limited gains.
* Crude prices inched down on Tuesday in Asia, paring gains of nearly 3 percent from a day earlier, as worries over a global oil glut tempered speculation that OPEC would try to restrain output.
MARKET NEWS
* Asian shares stood atop one-year peaks on Tuesday as a desperate search for yield drove a record inflow into emerging market funds, while oil prices tried to sustain their latest bounce.
RELATED
> Tyson Foods projects record profits, shares hit high
> Farm tech investment drops off after record year
> Russian wheat prices up on concerns over Western Europe crop
> China's July soybean imports fall 18 pct on year ago
> New Zealand farming company bans use of palm to feed cows
Palm, soy and crude oil prices at 0059 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 5254 +70.00 5216 5280 298980
CHINA SOYOIL JAN7 6220 +58.00 6198 6252 203668
CBOT SOY OIL DEC6 31.48 +2.90 31.39 31.5 555
INDIA PALM OIL AUG6 529.50 +2.90 527.80 531.7 1845
INDIA SOYOIL AUG6 635.65 +0.25 634 637.4 21470
NYMEX CRUDE SEP6 42.78 -0.24 42.77 42.97 8314
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