MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch August 22
VEGOILS-Market Factors to Watch August 22
22/08/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures surged to a near-five-month high in evening trade on Monday, supported by forecasts of slower than expected output growth and technical buying despite weaker export data from cargo surveyors. POI/
* U.S. grain prices fell about 1 percent on Monday, with benchmark Chicago Board of Trade December corn CZ7 sinking to a nearly one-year low, on technical selling and easing concerns that dry weather would reduce harvests. GRA/
* Oil prices fell nearly 2 percent ahead of monthly contract expiration on Monday, pulling back from last week's rally built on signs the global market is starting to rebalance from chronic oversupply. O/R
MARKET NEWS
* A gauge of world stock indexes edged up after touching a 5-1/2-week low on Monday as geopolitical uncertainty kept gains in check but metals prices dazzled, helped in part by Chinese demand. MKTS/GLOB
RELATED
> EU crop monitor raises 2017 maize yield forecast, wheat unchanged
> Corn yields found below average in southeastern South Dakota
> German wheat harvest hit by rain, worry about quality loss
> Russian wheat prices fall, tracking lower global benchmarks
> U.S. farmers confused by Monsanto (NYSE:MON) weed killer's complex instructions
> Cargo surveyor ITS releases Malaysia's Aug 1-31 palm oil export data on August 31.
> Cargo surveyor SGS releases Malaysia's Aug 1-31 palm oil export data on August 31.
Palm, soy and crude oil prices at 0026 GMT
Contract Month Last Change Low High Volume
MY PALM OIL SEP7 0 +0.00 0 0 0
MY PALM OIL OCT7 0 +0.00 0 0 0
MY PALM OIL NOV7 0 +0.00 0 0 0
CHINA PALM OLEIN JAN8 5474 +34.00 5446 5484 181002
CHINA SOYOIL JAN8 6320 +24.00 6284 6332 131376
CBOT SOY OIL DEC7 34.14 +5.40 34.07 34.17 513
INDIA PALM OIL AUG7 515.10 +5.40 507.60 515.5 2155
INDIA SOYOIL SEP7 659.4 +2.55 654.3 659.5 28720
NYMEX CRUDE SEP7 47.52 +0.15 47.40 47.54 250
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 to a near-five-month high in evening trade on Monday, supported by forecasts of slower than expected output growth and technical buying despite weaker export data from cargo surveyors. POI/
* U.S. grain prices fell about 1 percent on Monday, with benchmark Chicago Board of Trade December corn CZ7 sinking to a nearly one-year low, on technical selling and easing concerns that dry weather would reduce harvests. GRA/
* Oil prices fell nearly 2 percent ahead of monthly contract expiration on Monday, pulling back from last week's rally built on signs the global market is starting to rebalance from chronic oversupply. O/R
MARKET NEWS
* A gauge of world stock indexes edged up after touching a 5-1/2-week low on Monday as geopolitical uncertainty kept gains in check but metals prices dazzled, helped in part by Chinese demand. MKTS/GLOB
RELATED
> EU crop monitor raises 2017 maize yield forecast, wheat unchanged
> Corn yields found below average in southeastern South Dakota
> German wheat harvest hit by rain, worry about quality loss
> Russian wheat prices fall, tracking lower global benchmarks
> U.S. farmers confused by Monsanto (NYSE:MON) weed killer's complex instructions
> Cargo surveyor ITS releases Malaysia's Aug 1-31 palm oil export data on August 31.
> Cargo surveyor SGS releases Malaysia's Aug 1-31 palm oil export data on August 31.
Palm, soy and crude oil prices at 0026 GMT
Contract Month Last Change Low High Volume
MY PALM OIL SEP7 0 +0.00 0 0 0
MY PALM OIL OCT7 0 +0.00 0 0 0
MY PALM OIL NOV7 0 +0.00 0 0 0
CHINA PALM OLEIN JAN8 5474 +34.00 5446 5484 181002
CHINA SOYOIL JAN8 6320 +24.00 6284 6332 131376
CBOT SOY OIL DEC7 34.14 +5.40 34.07 34.17 513
INDIA PALM OIL AUG7 515.10 +5.40 507.60 515.5 2155
INDIA SOYOIL SEP7 659.4 +2.55 654.3 659.5 28720
NYMEX CRUDE SEP7 47.52 +0.15 47.40 47.54 250
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