MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch August 25
VEGOILS-Market Factors to Watch August 25
25/08/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures extended gains into a sixth session on Thursday and hovered near a five-month high hit in the evening on expectations that production growth will be slower than previously forecast. POI/
* Chicago Board of Trade soybean futures 0#S: climbed nearly 1 percent on Thursday, lifted by strong export demand, gains in soyoil prices 0#BO: and smaller pod count findings on an annual U.S. crop tour, traders said. GRA/
* U.S. crude prices fell 2 percent on Thursday as Hurricane Harvey, forecast to come ashore as the strongest storm to hit the U.S. mainland in 12 years, threatened oil operations along the energy hub on the U.S. Gulf Coast. O/R
MARKET NEWS
* A gauge of global equity markets edged lower on Thursday amid investor worries over U.S. government funding, but the U.S. dollar rebounded after recent weakness as central bankers convened for an annual policy summit at Jackson Hole, Wyoming. MKTS/GLOB
RELATED
> Argentina 2017/18 wheat area seen at 5.78 mln hectares -government
> U.S. crop tour fails to boost markets after bearish USDA report
> Egypt's GASC buys 35,000 tonnes of soyoil
> Iran's SLAL tenders to buy 200,000 tonnes of soymeal -trade
DATA/EVENTS
> 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 0049 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 5574 +26.00 5570 5622 237650
CHINA SOYOIL JAN8 6392 +4.00 6388 6444 156656
CBOT SOY OIL DEC7 35.16 +5.00 35.05 35.16 830
INDIA PALM OIL AUG7 521.00 +5.00 518.40 522.8 1378
INDIA SOYOIL SEP7 663.4 +2.55 662 666.85 32810
NYMEX CRUDE OCT7 47.71 +0.28 47.47 47.81 17693
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 extended gains into a sixth session on Thursday and hovered near a five-month high hit in the evening on expectations that production growth will be slower than previously forecast. POI/
* Chicago Board of Trade soybean futures 0#S: climbed nearly 1 percent on Thursday, lifted by strong export demand, gains in soyoil prices 0#BO: and smaller pod count findings on an annual U.S. crop tour, traders said. GRA/
* U.S. crude prices fell 2 percent on Thursday as Hurricane Harvey, forecast to come ashore as the strongest storm to hit the U.S. mainland in 12 years, threatened oil operations along the energy hub on the U.S. Gulf Coast. O/R
MARKET NEWS
* A gauge of global equity markets edged lower on Thursday amid investor worries over U.S. government funding, but the U.S. dollar rebounded after recent weakness as central bankers convened for an annual policy summit at Jackson Hole, Wyoming. MKTS/GLOB
RELATED
> Argentina 2017/18 wheat area seen at 5.78 mln hectares -government
> U.S. crop tour fails to boost markets after bearish USDA report
> Egypt's GASC buys 35,000 tonnes of soyoil
> Iran's SLAL tenders to buy 200,000 tonnes of soymeal -trade
DATA/EVENTS
> 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 0049 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 5574 +26.00 5570 5622 237650
CHINA SOYOIL JAN8 6392 +4.00 6388 6444 156656
CBOT SOY OIL DEC7 35.16 +5.00 35.05 35.16 830
INDIA PALM OIL AUG7 521.00 +5.00 518.40 522.8 1378
INDIA SOYOIL SEP7 663.4 +2.55 662 666.85 32810
NYMEX CRUDE OCT7 47.71 +0.28 47.47 47.81 17693
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