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 edged up in tight trade on Thursday, but stayed
under the 2,000-ringgit mark as investors braced for an anticipated surge in
rival edible oil supply amid rising palm oil production in the world's top
growers.
* U.S. wheat futures rose 1.7 percent to a three-week high on Thursday,
supported by concerns that escalating tensions between Ukraine and Russia would
curtail shipments from those two key grain exporters, traders said.
* Brent crude oil fell and U.S. crude rose as ample global supply and lackluster
demand pressured the global benchmark while positive U.S. economic data
supported oil prices in the world's largest oil consumer.
MARKET NEWS
* Stock markets around the world fell on Thursday after Ukraine said Russia had
moved more troops into the country, deepening the regional crisis, as nervous
investors shifted money into gold and U.S. and German government bonds.
RELATED
> France imports wheat from Latvia after poor harvest
> China's 2nd-biggest palm oil importer says banks resume lending to it
> Indonesia cuts Sept palm export tax to 9 pct -Industry Ministry
> Indonesia's rice-for-poor scheme to test new president
> India's monsoon forecast to be better for crops next week
> U.S. Cash Grains-Soy processor bids narrowly mixed; farmer sales light
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance
to release August palm oil export data on Sept. 2.
Palm, soy and crude oil prices at 0020 GMT
Contract Month Last Change Low High Volume
MY PALM OIL SEP4 0 +0.00 0 0 0
MY PALM OIL OCT4 0 +0.00 0 0 0
MY PALM OIL NOV4 0 +0.00 0 0 0
CHINA PALM OLEIN JAN5 5204 +10.00 5180 5216 185170
CHINA SOYOIL JAN5 0 +0.00 0 0 0
CBOT SOY OIL DEC4 32.81 +0.02 32.81 32.86 333
NYMEX CRUDE OCT4 94.53 -0.02 94.52 94.62 772
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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