MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch July 26
VEGOILS-Market Factors to Watch July 26
26/07/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures surged nearly 3 percent to two-month highs on Tuesday evening, supported by expectations of lower than forecast production in July and tracking strong gains in soyoil on the Chicago Board of Trade (CBOT). POI/
* Chicago Board of Trade corn and soybean futures fell on Tuesday, with investors shrugging off bigger-than-expected declines in U.S. crop ratings to focus on forecasts for better weather, traders said. GRA/
* Oil rose 3.3 percent on Tuesday to the highest close in more than a month, a day after U.S. oil producer Anadarko said it would cut capital spending plans and Saudi Arabia vowed to reduce crude exports to help curb global oversupply. O/R
MARKET NEWS
* A set of strong U.S. earnings reports lifted the S&P 500 stock index to a record closing high on Tuesday, while oil prices rallied on Saudi Arabia's pledge to cut exports in August and copper hit a two-year high. MKTS/GLOB
RELATED
> Malaysia's Jul 1-25 palm oil exports rose 4.8 pct -SGS
> Malaysia's July 1 - 25 palm oil exports rise 3.2 pct -ITS
> India to introduce commodity position limits to curb price fluctuations
> China, India oil imports show Saudi Arabia is already carrying the burden of cuts: Russell
> Malaysia's Petronas scraps $29 bln western Canada LNG project
> Cargo surveyor ITS releases Malaysia's July 1-15 palm oil export data on July 31.
> Cargo surveyor SGS releases Malaysia's July 1-15 palm oil export data on July 31.
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 JAN8 5372 +46.00 5354 5406 187760
CHINA SOYOIL SEP7 6138 +8.00 6126 6198 116976
CBOT SOY OIL DEC7 33.98 +5.90 33.88 34.01 1516
INDIA PALM OIL JUL7 485.40 +5.90 480.00 485.6 1872
INDIA SOYOIL AUG7 642.6 +3.80 641.05 646.5 38380
NYMEX CRUDE SEP7 48.38 +0.49 48.34 48.54 15786
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 surged nearly 3 percent to two-month highs on Tuesday evening, supported by expectations of lower than forecast production in July and tracking strong gains in soyoil on the Chicago Board of Trade (CBOT). POI/
* Chicago Board of Trade corn and soybean futures fell on Tuesday, with investors shrugging off bigger-than-expected declines in U.S. crop ratings to focus on forecasts for better weather, traders said. GRA/
* Oil rose 3.3 percent on Tuesday to the highest close in more than a month, a day after U.S. oil producer Anadarko said it would cut capital spending plans and Saudi Arabia vowed to reduce crude exports to help curb global oversupply. O/R
MARKET NEWS
* A set of strong U.S. earnings reports lifted the S&P 500 stock index to a record closing high on Tuesday, while oil prices rallied on Saudi Arabia's pledge to cut exports in August and copper hit a two-year high. MKTS/GLOB
RELATED
> Malaysia's Jul 1-25 palm oil exports rose 4.8 pct -SGS
> Malaysia's July 1 - 25 palm oil exports rise 3.2 pct -ITS
> India to introduce commodity position limits to curb price fluctuations
> China, India oil imports show Saudi Arabia is already carrying the burden of cuts: Russell
> Malaysia's Petronas scraps $29 bln western Canada LNG project
> Cargo surveyor ITS releases Malaysia's July 1-15 palm oil export data on July 31.
> Cargo surveyor SGS releases Malaysia's July 1-15 palm oil export data on July 31.
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 JAN8 5372 +46.00 5354 5406 187760
CHINA SOYOIL SEP7 6138 +8.00 6126 6198 116976
CBOT SOY OIL DEC7 33.98 +5.90 33.88 34.01 1516
INDIA PALM OIL JUL7 485.40 +5.90 480.00 485.6 1872
INDIA SOYOIL AUG7 642.6 +3.80 641.05 646.5 38380
NYMEX CRUDE SEP7 48.38 +0.49 48.34 48.54 15786
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