MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Aug 22
VEGOILS-Market Factors to Watch Aug 22
22/08/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures rose on Friday to post their third consecutive weekly gain, boosted by tight supplies and expectations of higher exports.
* U.S. soybean futures fell on Friday as the weather outlook for the Midwest bolstered expectations of a huge harvest in the fall, traders said.
* Oil prices fell on Monday as analysts doubted upcoming producer talks would be able to rein in oversupply, saying that Brent would likely fall back below $50 a barrel as August's over 20-percent crude rally looks overblown.
MARKET NEWS
* Asian shares slipped on Monday and the dollar pulled away from last week's lows on expectations that a signal might emerge from a Federal Reserve gathering this week in Jackson Hole, Wyoming that the U.S. central bank is gearing up to hike interest rates.
RELATED
> Palm oil to average at 2,678 rgt/T in 2016 -Malaysia trade body
> More cattle entered U.S. feedlots in July than anticipated - USDA
> Argentina seen planting less soy this year as corn area expands
> Tunisia buys 50,000 tonnes durum in tender - traders
> COLUMN-USDA forecast gives mixed signals to soybean market -Braun
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Aug 1-25 palm oil export data on Aug 25.
> Cargo surveyor SGS releases Malaysia's Aug 1-25 palm oil export data on Aug 25.
Palm, soy and crude oil prices at 0052 GMT
Contract Month Last Change Low High Volume
MY PALM OIL SEP6 0 +0.00 0 0 0
MY PALM OIL OCT6 0 +0.00 0 0 0
MY PALM OIL NOV6 0 +0.00 0 0 0
CHINA PALM OLEIN JAN7 5566 +10.00 5524 5568 287638
CHINA SOYOIL JAN7 6402 -8.00 6372 6408 138030
CBOT SOY OIL DEC6 34.43 -5.70 34.41 34.59 1093
INDIA PALM OIL AUG6 562.40 -5.70 562.20 575.7 3171
INDIA SOYOIL SEP6 664 -5.05 661.5 671.9 57530
NYMEX CRUDE SEP6 48.23 -0.29 48.07 48.40 505
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 Friday to post their third consecutive weekly gain, boosted by tight supplies and expectations of higher exports.
* U.S. soybean futures fell on Friday as the weather outlook for the Midwest bolstered expectations of a huge harvest in the fall, traders said.
* Oil prices fell on Monday as analysts doubted upcoming producer talks would be able to rein in oversupply, saying that Brent would likely fall back below $50 a barrel as August's over 20-percent crude rally looks overblown.
MARKET NEWS
* Asian shares slipped on Monday and the dollar pulled away from last week's lows on expectations that a signal might emerge from a Federal Reserve gathering this week in Jackson Hole, Wyoming that the U.S. central bank is gearing up to hike interest rates.
RELATED
> Palm oil to average at 2,678 rgt/T in 2016 -Malaysia trade body
> More cattle entered U.S. feedlots in July than anticipated - USDA
> Argentina seen planting less soy this year as corn area expands
> Tunisia buys 50,000 tonnes durum in tender - traders
> COLUMN-USDA forecast gives mixed signals to soybean market -Braun
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Aug 1-25 palm oil export data on Aug 25.
> Cargo surveyor SGS releases Malaysia's Aug 1-25 palm oil export data on Aug 25.
Palm, soy and crude oil prices at 0052 GMT
Contract Month Last Change Low High Volume
MY PALM OIL SEP6 0 +0.00 0 0 0
MY PALM OIL OCT6 0 +0.00 0 0 0
MY PALM OIL NOV6 0 +0.00 0 0 0
CHINA PALM OLEIN JAN7 5566 +10.00 5524 5568 287638
CHINA SOYOIL JAN7 6402 -8.00 6372 6408 138030
CBOT SOY OIL DEC6 34.43 -5.70 34.41 34.59 1093
INDIA PALM OIL AUG6 562.40 -5.70 562.20 575.7 3171
INDIA SOYOIL SEP6 664 -5.05 661.5 671.9 57530
NYMEX CRUDE SEP6 48.23 -0.29 48.07 48.40 505
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