MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch June 2
VEGOILS-Market Factors to Watch June 2
02/06/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures rose on Thursday, snapping four straight sessions of losses, on the back of a weaker ringgit MYR= which hit a one-week low.
* Chicago Board of Trade soft red winter wheat futures and K.C. hard red winter futures dropped to two-week lows on Thursday as forecasts for dry conditions in key growing areas raised the prospect of a quick start to harvest for both crops.
* Oil prices dropped nearly 1 percent in early Asian trade on Friday, dragged down by ongoing concerns over a global glut in crude supply despite a bigger-than-expected draw in U.S. crude inventories.
MARKET NEWS
* Asian stocks edged up on Friday and the dollar bounced from recent lows as upbeat data on U.S. manufacturing and employment and buoyant European factory growth boosted investor optimism.
RELATED
> Trump abandons global climate pact; allies voice dismay
> EU cuts cereal crop outlook as drought in Spain hits barley
> Louis Dreyfus names new heads for coffee, EMEA region
> Canada helps firms hit by U.S. lumber tax, American lobby fumes
> OPEC looked at extra 1-1.5 pct oil supply cut, could revive proposal
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia’s June 1-10 palm oil export data on June 10.
> Cargo surveyor SGS releases Malaysia’s June 1-10 palm oil export data on June 10.
Palm, soy and crude oil prices at 0118 GMT
Contract Month Last Change Low High Volume
MY PALM OIL JUN7 0 +0.00 0 0 0
MY PALM OIL JUL7 0 +0.00 0 0 0
MY PALM OIL AUG7 0 +0.00 0 0 0
CHINA PALM OLEIN SEP7 5240 -12.00 5228 5272 188404
CHINA SOYOIL SEP7 5670 -2.00 5660 5724 207830
CBOT SOY OIL JUL7 31.25 -2.60 31.22 31.31 956
INDIA PALM OIL JUN7 495.70 -2.60 495.10 499.8 1413
INDIA SOYOIL JUN7 621 +0.90 619.1 623.55 18260
NYMEX CRUDE JUL7 48.06 -0.30 47.81 48.16 15967
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 Thursday, snapping four straight sessions of losses, on the back of a weaker ringgit MYR= which hit a one-week low.
* Chicago Board of Trade soft red winter wheat futures and K.C. hard red winter futures dropped to two-week lows on Thursday as forecasts for dry conditions in key growing areas raised the prospect of a quick start to harvest for both crops.
* Oil prices dropped nearly 1 percent in early Asian trade on Friday, dragged down by ongoing concerns over a global glut in crude supply despite a bigger-than-expected draw in U.S. crude inventories.
MARKET NEWS
* Asian stocks edged up on Friday and the dollar bounced from recent lows as upbeat data on U.S. manufacturing and employment and buoyant European factory growth boosted investor optimism.
RELATED
> Trump abandons global climate pact; allies voice dismay
> EU cuts cereal crop outlook as drought in Spain hits barley
> Louis Dreyfus names new heads for coffee, EMEA region
> Canada helps firms hit by U.S. lumber tax, American lobby fumes
> OPEC looked at extra 1-1.5 pct oil supply cut, could revive proposal
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia’s June 1-10 palm oil export data on June 10.
> Cargo surveyor SGS releases Malaysia’s June 1-10 palm oil export data on June 10.
Palm, soy and crude oil prices at 0118 GMT
Contract Month Last Change Low High Volume
MY PALM OIL JUN7 0 +0.00 0 0 0
MY PALM OIL JUL7 0 +0.00 0 0 0
MY PALM OIL AUG7 0 +0.00 0 0 0
CHINA PALM OLEIN SEP7 5240 -12.00 5228 5272 188404
CHINA SOYOIL SEP7 5670 -2.00 5660 5724 207830
CBOT SOY OIL JUL7 31.25 -2.60 31.22 31.31 956
INDIA PALM OIL JUN7 495.70 -2.60 495.10 499.8 1413
INDIA SOYOIL JUN7 621 +0.90 619.1 623.55 18260
NYMEX CRUDE JUL7 48.06 -0.30 47.81 48.16 15967
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