MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch July 7
VEGOILS-Market Factors to Watch July 7
07/07/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures rose to their highest in over a month on Thursday evening, charting a fourth consecutive day of gains, tracking strength in related edible oils on China's Dalian Commodity Exchange.
* U.S. wheat futures fell on Thursday, shrugging off signs of further deterioration in already stressed crops, on a round of profit-taking following a rally to multi-year highs, traders said.
* Oil futures settled up slightly on Thursday, well off session highs, after a sharp but short-lived boost from a much bigger-than-expected decline in U.S. inventories of crude oil and gasoline.
MARKET NEWS
* Stocks fell on Wall Street as U.S. Treasury yields rose on Thursday after weak economic data while the euro gained on the U.S. dollar on signs the European Central Bank could be open to scrapping its bond-buying pledge.
RELATED
> France to restrict use of palm oil in biofuels
> Malaysia palm oil stocks seen slightly rising on export drop
> World Food prices rise 1.4 pct in June - UN FAO
> EU soybean imports fell 4 pct in 2016/17, palm oil down 11 pct
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 0109 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 5420 +16.00 5404 5446 146596
CHINA SOYOIL SEP7 6000 +8.00 5986 6014 116340
CBOT SOY OIL DEC7 33.31 +1.80 33.26 33.38 2233
INDIA PALM OIL JUL7 486.70 +1.80 484.00 488 1039
INDIA SOYOIL JUL7 643.5 -2.40 642.9 645.6 10890
NYMEX CRUDE AUG7 44.92 -0.60 44.64 45.42 28856
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 to their highest in over a month on Thursday evening, charting a fourth consecutive day of gains, tracking strength in related edible oils on China's Dalian Commodity Exchange.
* U.S. wheat futures fell on Thursday, shrugging off signs of further deterioration in already stressed crops, on a round of profit-taking following a rally to multi-year highs, traders said.
* Oil futures settled up slightly on Thursday, well off session highs, after a sharp but short-lived boost from a much bigger-than-expected decline in U.S. inventories of crude oil and gasoline.
MARKET NEWS
* Stocks fell on Wall Street as U.S. Treasury yields rose on Thursday after weak economic data while the euro gained on the U.S. dollar on signs the European Central Bank could be open to scrapping its bond-buying pledge.
RELATED
> France to restrict use of palm oil in biofuels
> Malaysia palm oil stocks seen slightly rising on export drop
> World Food prices rise 1.4 pct in June - UN FAO
> EU soybean imports fell 4 pct in 2016/17, palm oil down 11 pct
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 0109 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 5420 +16.00 5404 5446 146596
CHINA SOYOIL SEP7 6000 +8.00 5986 6014 116340
CBOT SOY OIL DEC7 33.31 +1.80 33.26 33.38 2233
INDIA PALM OIL JUL7 486.70 +1.80 484.00 488 1039
INDIA SOYOIL JUL7 643.5 -2.40 642.9 645.6 10890
NYMEX CRUDE AUG7 44.92 -0.60 44.64 45.42 28856
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