MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch August 4
VEGOILS-Market Factors to Watch August 4
04/08/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures fell for a third straight session on Thursday, hitting their lowest in a week due to forecasts for rising output and weaker performing related edible oils. POI/
* U.S. soybean futures dipped to a one-month low on Thursday as beneficial rains crossed the Midwest crop belt, bolstering yield prospects for the oilseed crop, traders said. GRA/
* Oil prices fell on Thursday, as cautious buying dried up after U.S. crude rose to near $50 a barrel, with concern about high crude supplies from producer club OPEC offsetting the previous day's data showing record U.S. gasoline demand. O/R
MARKET NEWS
* A gauge of world stocks declined as Wall Street dipped on Thursday, although European shares rallied, while sterling hit a nine-month low against the euro after the Bank of England's policymakers kept interest rates unchanged. MKTS/GLOB
RELATED
> Bunge aims to 'reinvent' dealings with Brazilian soy farmers
> Paraguay's high-protein wheat may be too scarce to seize demand
> Truck drivers protest in Brazil may delay grain loading -industry group
> Plant-based meats whet U.S. summer grilling appetites
> Informa sees U.S. 2017 corn yield at 165.9 bu/acre -trade
> Cargo surveyor ITS releases Malaysia's July 1-31 palm oil export data on August 10.
> Cargo surveyor SGS releases Malaysia's July 1-31 palm oil export data on August 10.
Palm, soy and crude oil prices at 0040 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 5334 -38.00 5286 5346 183874
CHINA SOYOIL JAN8 6168 -64.00 6132 6176 164906
CBOT SOY OIL DEC7 33.68 -9.40 33.6 33.79 2018
INDIA PALM OIL AUG7 477.50 -9.40 477.20 487 3429
INDIA SOYOIL AUG7 638.5 -6.00 638.15 645.4 25420
NYMEX CRUDE SEP7 48.99 -0.04 48.91 49.08 4486
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 for a third straight session on Thursday, hitting their lowest in a week due to forecasts for rising output and weaker performing related edible oils. POI/
* U.S. soybean futures dipped to a one-month low on Thursday as beneficial rains crossed the Midwest crop belt, bolstering yield prospects for the oilseed crop, traders said. GRA/
* Oil prices fell on Thursday, as cautious buying dried up after U.S. crude rose to near $50 a barrel, with concern about high crude supplies from producer club OPEC offsetting the previous day's data showing record U.S. gasoline demand. O/R
MARKET NEWS
* A gauge of world stocks declined as Wall Street dipped on Thursday, although European shares rallied, while sterling hit a nine-month low against the euro after the Bank of England's policymakers kept interest rates unchanged. MKTS/GLOB
RELATED
> Bunge aims to 'reinvent' dealings with Brazilian soy farmers
> Paraguay's high-protein wheat may be too scarce to seize demand
> Truck drivers protest in Brazil may delay grain loading -industry group
> Plant-based meats whet U.S. summer grilling appetites
> Informa sees U.S. 2017 corn yield at 165.9 bu/acre -trade
> Cargo surveyor ITS releases Malaysia's July 1-31 palm oil export data on August 10.
> Cargo surveyor SGS releases Malaysia's July 1-31 palm oil export data on August 10.
Palm, soy and crude oil prices at 0040 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 5334 -38.00 5286 5346 183874
CHINA SOYOIL JAN8 6168 -64.00 6132 6176 164906
CBOT SOY OIL DEC7 33.68 -9.40 33.6 33.79 2018
INDIA PALM OIL AUG7 477.50 -9.40 477.20 487 3429
INDIA SOYOIL AUG7 638.5 -6.00 638.15 645.4 25420
NYMEX CRUDE SEP7 48.99 -0.04 48.91 49.08 4486
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