KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Friday.
FUNDAMENTALS
* Malaysian palm oil futures ended higher on Thursday, reversing morning losses
to snap a six-day losing streak, as gains in crude oil stemming from violence in
Iraq underpinned the market.
* U.S. soybean futures fell to a two-month low on Thursday on chart-based
selling and fund liquidation following a monthly U.S. government report that
showed rising global soy supplies, traders said.
* Oil prices jumped to nine-month highs on Thursday, as concerns mounted that
escalating violence in Iraq could disrupt oil supplies from the second-largest
OPEC producer.
MARKET NEWS
* Crude oil prices hit a nine-month high on Thursday on supply concerns and
equities sold off as violence threatened stability in Iraq.
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DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance
to release Malaysia's June 1-15 palm oil export data on June 16.
Palm, soy and crude oil prices at 0020 GMT
Contract Month Last Change Low High Volume
MY PALM OIL JUN4 0 +0.00 0 0 0
MY PALM OIL JUL4 0 +0.00 0 0 0
MY PALM OIL AUG4 0 +0.00 0 0 0
CHINA PALM OLEIN SEP4 0 +0.00 0 0 0
CHINA SOYOIL SEP4 0 +0.00 0 0 0
CBOT SOY OIL JUL4 38.78 +0.20 38.59 38.79 446
NYMEX CRUDE JUL4 107.47 +0.94 106.76 107.68 6957
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
Crude in U.S. dollars per barrel
- Reuters
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