MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch July 05
VEGOILS-Market Factors to Watch July 05
05/07/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures reversed early losses to make gains in the second half of trade, supported by forecasts of declining production which could dent local stock levels, traders said.
* U.S. wheat, soybean and corn futures rose in an abbreviated session ahead of the July Fourth holiday, buoyed by worries that hot and dry weather in the northern Plains spring wheat belt could spread into the western Midwest, analysts said on Friday.
* Oil prices flirted with both positive and negative territory on Tuesday, hovering around $50 a barrel on tentative signs that a persistent rise in U.S. crude production may be slowing.
MARKET NEWS
* World shares pulled back and bonds and gold regained favour on Tuesday as a long-range ballistic missile test by North Korea and July 4 holidays for U.S. markets dampened risk appetite.
RELATED
> European feeds-Soymeal rallies again on sharp gains on CBOT
> Indian soybeans rise for 3rd straight session
> Egypt has over three months worth of vegoil reserves -ministry
> TABLE-Czech 2017 grain harvest seen down 10 pct yr/yr
> S.Korea's NOFI bought total 12,000 T palm kernel in tender
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia’s July 1-10 palm oil export data on July 10.
> Cargo surveyor SGS releases Malaysia’s July 1-10 palm oil export data on July 10.
Palm, soy and crude oil prices at 0031 GMT
Contract Month Last Change Low High Volume
MY PALM OIL JUL7 0 +0.00 0 0 0
MY PALM OIL AUG7 0 +0.00 0 0 0
MY PALM OIL SEP7 0 +0.00 0 0 0
CHINA PALM OLEIN SEP7 5320 +24.00 5288 5324 121364
CHINA SOYOIL SEP7 5958 -6.00 5924 5960 87382
CBOT SOY OIL DEC7 33.58 +0.10 0 0 0
INDIA PALM OIL JUL7 485.50 +0.10 480.70 485.5 1770
INDIA SOYOIL JUL7 647.5 +1.50 641.2 647.5 19440
NYMEX CRUDE AUG7 47.15 +0.08 46.74 47.32 199928
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 reversed early losses to make gains in the second half of trade, supported by forecasts of declining production which could dent local stock levels, traders said.
* U.S. wheat, soybean and corn futures rose in an abbreviated session ahead of the July Fourth holiday, buoyed by worries that hot and dry weather in the northern Plains spring wheat belt could spread into the western Midwest, analysts said on Friday.
* Oil prices flirted with both positive and negative territory on Tuesday, hovering around $50 a barrel on tentative signs that a persistent rise in U.S. crude production may be slowing.
MARKET NEWS
* World shares pulled back and bonds and gold regained favour on Tuesday as a long-range ballistic missile test by North Korea and July 4 holidays for U.S. markets dampened risk appetite.
RELATED
> European feeds-Soymeal rallies again on sharp gains on CBOT
> Indian soybeans rise for 3rd straight session
> Egypt has over three months worth of vegoil reserves -ministry
> TABLE-Czech 2017 grain harvest seen down 10 pct yr/yr
> S.Korea's NOFI bought total 12,000 T palm kernel in tender
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia’s July 1-10 palm oil export data on July 10.
> Cargo surveyor SGS releases Malaysia’s July 1-10 palm oil export data on July 10.
Palm, soy and crude oil prices at 0031 GMT
Contract Month Last Change Low High Volume
MY PALM OIL JUL7 0 +0.00 0 0 0
MY PALM OIL AUG7 0 +0.00 0 0 0
MY PALM OIL SEP7 0 +0.00 0 0 0
CHINA PALM OLEIN SEP7 5320 +24.00 5288 5324 121364
CHINA SOYOIL SEP7 5958 -6.00 5924 5960 87382
CBOT SOY OIL DEC7 33.58 +0.10 0 0 0
INDIA PALM OIL JUL7 485.50 +0.10 480.70 485.5 1770
INDIA SOYOIL JUL7 647.5 +1.50 641.2 647.5 19440
NYMEX CRUDE AUG7 47.15 +0.08 46.74 47.32 199928
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