MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch July 24
VEGOILS-Market Factors to Watch July 24
24/07/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures fell in late trade on Friday, easing from a more than one-week high reached early in the session, as the market tracked declines in soyoil on the Chicago Board of Trade.
* U.S. corn and soybean futures fell on Friday, pressured by outlooks for some relief for crops stressed by hot and dry weather during the past few weeks, traders said.
* Oil prices were little changed on Monday following a steep fall in the previous session amid growing expectations that the joint OPEC and non-OPEC ministerial meeting later in the day would address rising production from Nigeria and Libya, two OPEC members exempted from the cuts.
MARKET NEWS
* Asian stocks slipped on Monday as demand for riskier assets ebbed after recent strong gains, while the euro's near-two-year high on the European Central Bank's seeming lack of concern about its strength left the dollar languishing near a 13-month low.
RELATED
> India's edible oil imports to fall for 1st time in six years
> Palm oil demand up as dry U.S. weather seen hurting rival soy crops
> Britain to link future farm support to environmental benefits
> EXCLUSIVE-U.S. weighs financial sanctions to hit Venezuela's oil revenue
> After false dawn, Big Oil to double down on cost cuts
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia’s July 1-15 palm oil export data on July 25.
> Cargo surveyor SGS releases Malaysia’s July 1-15 palm oil export data on July 25.
Palm, soy and crude oil prices at 0041 GMT
Contract Month Last Change Low High Volume
MY PALM OIL AUG7 0 +0.00 0 0 0
MY PALM OIL SEP7 0 +0.00 0 0 0
MY PALM OIL OCT7 0 +0.00 0 0 0
CHINA PALM OLEIN SEP7 5362 -70.00 5362 5418 115218
CHINA SOYOIL SEP7 6100 -48.00 6086 6146 105680
CBOT SOY OIL DEC7 34.04 -1.30 34 34.2 2473
INDIA PALM OIL JUL7 481.20 -1.30 480.50 484 633
INDIA SOYOIL AUG7 642.35 -1.80 641.4 645.25 25660
NYMEX CRUDE SEP7 45.67 -0.10 45.58 45.77 6379
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 fell in late trade on Friday, easing from a more than one-week high reached early in the session, as the market tracked declines in soyoil on the Chicago Board of Trade.
* U.S. corn and soybean futures fell on Friday, pressured by outlooks for some relief for crops stressed by hot and dry weather during the past few weeks, traders said.
* Oil prices were little changed on Monday following a steep fall in the previous session amid growing expectations that the joint OPEC and non-OPEC ministerial meeting later in the day would address rising production from Nigeria and Libya, two OPEC members exempted from the cuts.
MARKET NEWS
* Asian stocks slipped on Monday as demand for riskier assets ebbed after recent strong gains, while the euro's near-two-year high on the European Central Bank's seeming lack of concern about its strength left the dollar languishing near a 13-month low.
RELATED
> India's edible oil imports to fall for 1st time in six years
> Palm oil demand up as dry U.S. weather seen hurting rival soy crops
> Britain to link future farm support to environmental benefits
> EXCLUSIVE-U.S. weighs financial sanctions to hit Venezuela's oil revenue
> After false dawn, Big Oil to double down on cost cuts
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia’s July 1-15 palm oil export data on July 25.
> Cargo surveyor SGS releases Malaysia’s July 1-15 palm oil export data on July 25.
Palm, soy and crude oil prices at 0041 GMT
Contract Month Last Change Low High Volume
MY PALM OIL AUG7 0 +0.00 0 0 0
MY PALM OIL SEP7 0 +0.00 0 0 0
MY PALM OIL OCT7 0 +0.00 0 0 0
CHINA PALM OLEIN SEP7 5362 -70.00 5362 5418 115218
CHINA SOYOIL SEP7 6100 -48.00 6086 6146 105680
CBOT SOY OIL DEC7 34.04 -1.30 34 34.2 2473
INDIA PALM OIL JUL7 481.20 -1.30 480.50 484 633
INDIA SOYOIL AUG7 642.35 -1.80 641.4 645.25 25660
NYMEX CRUDE SEP7 45.67 -0.10 45.58 45.77 6379
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