MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch August 8
VEGOILS-Market Factors to Watch August 8
08/08/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures dipped on Monday evening, hitting a two-week low, on expectations that official production data due later this week will show rising output in July. POI/
* U.S. corn and soybean futures rose more than 1 percent on Monday on position-squaring ahead of U.S. government crop reports due later this week, along with worries about dry conditions in parts of the Midwest, traders said. GRA/
* Oil prices dipped on Monday as a rebound in production from Libya's largest oil field prompted selling, and investors worried about higher output from OPEC and the United States. O/R
MARKET NEWS
* Asian shares neared decade peaks on Tuesday thanks to optimism on the global economy and a rash of records on Wall Street, while major currencies were becalmed ahead of Chinese trade data. MKTS/GLOB
RELATED
> China buyers resell soybeans as crushers lose cash, glut grows - traders
> Tyson posts better-than-expected profit, bets on chicken
> Russian wheat prices down as harvesting gathers pace
> Higher-cost crude could squeeze margins at U.S. refiners
> Mexichem to take over Israeli irrigation firm Netafim in $1.5 bln deal
> 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 0048 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 5326 -28.00 5276 5336 209734
CHINA SOYOIL JAN8 6176 -12.00 6140 6198 132078
CBOT SOY OIL DEC7 33.91 +2.50 33.83 33.94 902
INDIA PALM OIL AUG7 484.00 +2.50 478.60 487.5 1179
INDIA SOYOIL AUG7 639.85 +1.25 634.5 642.9 22520
NYMEX CRUDE SEP7 49.29 -0.10 49.23 49.34 6476
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 dipped on Monday evening, hitting a two-week low, on expectations that official production data due later this week will show rising output in July. POI/
* U.S. corn and soybean futures rose more than 1 percent on Monday on position-squaring ahead of U.S. government crop reports due later this week, along with worries about dry conditions in parts of the Midwest, traders said. GRA/
* Oil prices dipped on Monday as a rebound in production from Libya's largest oil field prompted selling, and investors worried about higher output from OPEC and the United States. O/R
MARKET NEWS
* Asian shares neared decade peaks on Tuesday thanks to optimism on the global economy and a rash of records on Wall Street, while major currencies were becalmed ahead of Chinese trade data. MKTS/GLOB
RELATED
> China buyers resell soybeans as crushers lose cash, glut grows - traders
> Tyson posts better-than-expected profit, bets on chicken
> Russian wheat prices down as harvesting gathers pace
> Higher-cost crude could squeeze margins at U.S. refiners
> Mexichem to take over Israeli irrigation firm Netafim in $1.5 bln deal
> 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 0048 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 5326 -28.00 5276 5336 209734
CHINA SOYOIL JAN8 6176 -12.00 6140 6198 132078
CBOT SOY OIL DEC7 33.91 +2.50 33.83 33.94 902
INDIA PALM OIL AUG7 484.00 +2.50 478.60 487.5 1179
INDIA SOYOIL AUG7 639.85 +1.25 634.5 642.9 22520
NYMEX CRUDE SEP7 49.29 -0.10 49.23 49.34 6476
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