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 marginally higher on Thursday, but continued
to hover near one-year lows as investors grew cautious ahead of key stocks and
output data in the world's second-largest palm grower.
* U.S. wheat futures fell from a 5-1/2-week high on Thursday on a round of
profit-taking following a six-session rally that had pushed prices up 9.2
percent, traders said.
* Crude oil prices rebounded on Thursday after reports the United States was
considering airstrikes on advancing Islamic militants in Iraq revived concerns
about supply disruptions from OPEC's No. 2 oil producer.
MARKET NEWS
* European shares slumped and the euro lost ground on Thursday and investors
moved to safe-haven government debt after a stronger-than-expected move by
Russia to ban certain imports from Europe and the United States.
RELATED
> Russia food ban offers big opportunity for Brazil
> Argentina harvests record 55.5 mln tonne soy crop -exchange
> India's monsoon outlook improves as rainfall revives
> U.S. weather forecaster lowers chance of El Nino in autumn
> Wilmar Q2 net profit falters on weak palm oil processing margins
> World food prices hit six-month low in July -FAO
> Noble Group Q2 profit growth slows as energy, metals income falls
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance
to release August 1-10 palm oil export data on August 11.
> Industry regulator the Malaysian Palm Oil Board (MPOB) to release data on
Malaysia's end-July palm oil stocks, exports and production on August 11.
Palm, soy and crude oil prices at 0019 GMT
Contract Month Last Change Low High Volume
MY PALM OIL AUG4 0 +0.00 0 0 0
MY PALM OIL SEP4 0 +0.00 0 0 0
MY PALM OIL OCT4 0 +0.00 0 0 0
CHINA PALM OLEIN JAN5 5632 +6.00 5626 5648 91522
CHINA SOYOIL JAN5 0 +0.00 0 0 0
CBOT SOY OIL DEC4 35.94 -0.11 35.94 35.98 394
NYMEX CRUDE SEP4 97.44 +0.10 97.35 97.67 1700
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
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