MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch July 25
VEGOILS-Market Factors to Watch July 25
25/07/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures posted their worst session in a week on Monday, tracking weaker performances in rival oils.
* U.S. wheat futures fell to their lowest in more than three weeks on Monday on profit taking as traders said damage from a drought in the U.S. Plains has been fully priced into the market.
* Oil rose more than 1 percent on Monday, after leading OPEC producer Saudi Arabia pledged to cut exports in August to help reduce the global crude glut, and Halliburton Co's HAL.N executive chairman said the U.S. shale drilling boom would probably ease next year.
MARKET NEWS
* The U.S. dollar rose from its lowest in more than a year and U.S. Treasury yields climbed on Monday as investors braced for news from this week's U.S. central bank meeting and possible hints on when the next interest rate hike is coming.
RELATED
> Indonesia environment minister wants permanent ban on licences to use forest land
> EXCLUSIVE-Berry borer beetle damages Brazil's coffee crop
> China readying more state cotton reserves for sale -industry website
> OPEC moves to cap Nigerian oil output, boost compliance
> World oil demand could peak in 2024 on higher vehicle efficiency -Goldman Sachs
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 0044 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 5368 +16.00 5334 5374 69194
CHINA SOYOIL SEP7 6100 +18.00 6074 6100 73228
CBOT SOY OIL DEC7 34.42 -2.10 34.29 34.62 4887
INDIA PALM OIL JUL7 479.90 -2.10 477.30 480.5 1074
INDIA SOYOIL AUG7 639.5 -2.75 636.4 639.9 23460
NYMEX CRUDE SEP7 46.43 +0.09 46.38 46.50 4349
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 posted their worst session in a week on Monday, tracking weaker performances in rival oils.
* U.S. wheat futures fell to their lowest in more than three weeks on Monday on profit taking as traders said damage from a drought in the U.S. Plains has been fully priced into the market.
* Oil rose more than 1 percent on Monday, after leading OPEC producer Saudi Arabia pledged to cut exports in August to help reduce the global crude glut, and Halliburton Co's HAL.N executive chairman said the U.S. shale drilling boom would probably ease next year.
MARKET NEWS
* The U.S. dollar rose from its lowest in more than a year and U.S. Treasury yields climbed on Monday as investors braced for news from this week's U.S. central bank meeting and possible hints on when the next interest rate hike is coming.
RELATED
> Indonesia environment minister wants permanent ban on licences to use forest land
> EXCLUSIVE-Berry borer beetle damages Brazil's coffee crop
> China readying more state cotton reserves for sale -industry website
> OPEC moves to cap Nigerian oil output, boost compliance
> World oil demand could peak in 2024 on higher vehicle efficiency -Goldman Sachs
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 0044 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 5368 +16.00 5334 5374 69194
CHINA SOYOIL SEP7 6100 +18.00 6074 6100 73228
CBOT SOY OIL DEC7 34.42 -2.10 34.29 34.62 4887
INDIA PALM OIL JUL7 479.90 -2.10 477.30 480.5 1074
INDIA SOYOIL AUG7 639.5 -2.75 636.4 639.9 23460
NYMEX CRUDE SEP7 46.43 +0.09 46.38 46.50 4349
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