MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch June 5
VEGOILS-Market Factors to Watch June 5
05/06/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures suffered their sharpest decline in four sessions on Friday, as the market was weighed down by a drop in Chinese soyoil prices.
* U.S. spring wheat futures set a 5-1/2-month high on Friday, buoyed by expanding dryness in the northern Plains production belt, analysts said.
* Oil markets were subdued on Monday, with Brent struggling to maintain $50 per barrel as efforts led by OPEC to tighten the market were undermined by persistently rising U.S. production.
MARKET NEWS
* The dollar fell to seven-month lows on Friday after data showed the U.S. economy created fewer jobs than expected in May, but equity investors took the news in stride and pushed leading American, British and German stock indexes to record highs.
RELATED
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> Oil market to OPEC: Show me the data
> Uncertain road for EU sugar as Ukraine exports gain traction
> Anger in Mexican sugar cane fields, harbinger of NAFTA risks
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 0054 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 5260 +6.00 5188 5266 157800
CHINA SOYOIL SEP7 5680 -6.00 5624 5690 167796
CBOT SOY OIL JUL7 31.1 -2.10 31.04 31.16 892
INDIA PALM OIL JUN7 493.50 -2.10 491.00 497.7 1723
INDIA SOYOIL JUN7 617.9 -2.65 616 622.75 12260
NYMEX CRUDE JUL7 47.69 +0.03 47.66 47.84 6910
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
* Malaysian palm oil futures suffered their sharpest decline in four sessions on Friday, as the market was weighed down by a drop in Chinese soyoil prices.
* U.S. spring wheat futures set a 5-1/2-month high on Friday, buoyed by expanding dryness in the northern Plains production belt, analysts said.
* Oil markets were subdued on Monday, with Brent struggling to maintain $50 per barrel as efforts led by OPEC to tighten the market were undermined by persistently rising U.S. production.
MARKET NEWS
* The dollar fell to seven-month lows on Friday after data showed the U.S. economy created fewer jobs than expected in May, but equity investors took the news in stride and pushed leading American, British and German stock indexes to record highs.
RELATED
> China plans U.S. visits, spurring hopes for more poultry trading
> World pledges to save 'Mother Earth' despite Trump's snub to climate pact
> Oil market to OPEC: Show me the data
> Uncertain road for EU sugar as Ukraine exports gain traction
> Anger in Mexican sugar cane fields, harbinger of NAFTA risks
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 0054 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 5260 +6.00 5188 5266 157800
CHINA SOYOIL SEP7 5680 -6.00 5624 5690 167796
CBOT SOY OIL JUL7 31.1 -2.10 31.04 31.16 892
INDIA PALM OIL JUN7 493.50 -2.10 491.00 497.7 1723
INDIA SOYOIL JUN7 617.9 -2.65 616 622.75 12260
NYMEX CRUDE JUL7 47.69 +0.03 47.66 47.84 6910
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