MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch June 6
VEGOILS-Market Factors to Watch June 6
06/06/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures on Monday rose slightly at the close of trade, recovering from the previous session's losses, as gains in stronger-performing soyoil boosted sentiment.
* U.S. spring wheat futures traded on the Minneapolis Grain Exchange (MGEX) closed higher on Monday for a fourth straight session on fears of hot, dry weather in the northern Plains, while corn and soybean futures ended fractionally higher.
* Oil recovered some losses from the previous session on Tuesday, but Brent crude remained below $50 over concerns that a political rift between Qatar and several Arab states would undermine efforts by OPEC to tighten the market.
MARKET NEWS
* Asian stocks retreated on Tuesday after Wall Street's stumble overnight, while oil inched up from the previous day losses as lower Libyan oil production assuaged concerns that the severing of ties with Qatar by other Arab states could impede a deal to cut crude output.
RELATED
> U.S. and Mexico sugar talks go into overtime after day of drama
> Qatar food imports hit after Arab nations cut ties - trade sources
> Qatar's dispute with Arab states puts LNG market on edge
> Meat packer blames ABC's 'pink slime' for nearly killing company
> Brazil corn crop may surpass 100 mln T for first time
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 0103 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 5266 -10.00 5236 5278 162772
CHINA SOYOIL SEP7 5718 +22.00 5686 5720 149852
CBOT SOY OIL JUL7 31.3 -1.20 31.26 31.33 1409
INDIA PALM OIL JUN7 491.60 -1.20 490.10 496.9 1201
INDIA SOYOIL JUN7 617 -0.35 616.05 621.4 12080
NYMEX CRUDE JUL7 47.56 +0.16 47.37 47.58 7640
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 on Monday rose slightly at the close of trade, recovering from the previous session's losses, as gains in stronger-performing soyoil boosted sentiment.
* U.S. spring wheat futures traded on the Minneapolis Grain Exchange (MGEX) closed higher on Monday for a fourth straight session on fears of hot, dry weather in the northern Plains, while corn and soybean futures ended fractionally higher.
* Oil recovered some losses from the previous session on Tuesday, but Brent crude remained below $50 over concerns that a political rift between Qatar and several Arab states would undermine efforts by OPEC to tighten the market.
MARKET NEWS
* Asian stocks retreated on Tuesday after Wall Street's stumble overnight, while oil inched up from the previous day losses as lower Libyan oil production assuaged concerns that the severing of ties with Qatar by other Arab states could impede a deal to cut crude output.
RELATED
> U.S. and Mexico sugar talks go into overtime after day of drama
> Qatar food imports hit after Arab nations cut ties - trade sources
> Qatar's dispute with Arab states puts LNG market on edge
> Meat packer blames ABC's 'pink slime' for nearly killing company
> Brazil corn crop may surpass 100 mln T for first time
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 0103 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 5266 -10.00 5236 5278 162772
CHINA SOYOIL SEP7 5718 +22.00 5686 5720 149852
CBOT SOY OIL JUL7 31.3 -1.20 31.26 31.33 1409
INDIA PALM OIL JUN7 491.60 -1.20 490.10 496.9 1201
INDIA SOYOIL JUN7 617 -0.35 616.05 621.4 12080
NYMEX CRUDE JUL7 47.56 +0.16 47.37 47.58 7640
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