KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Friday June 19.
FUNDAMENTALS
* Malaysian palm oil futures fell more than 2 percent on Thursday in the biggest drop in three
months as the ringgit advanced and competing soyoil markets overseas weighed on sentiment.
* U.S. soybean futures rose for the third day in a row on Thursday, touching their highest in
more than five weeks on concerns that dry weather will arrive too late to allow for planting in
rain-soaked areas of the Midwest, traders said.
* Oil prices settled up for a third straight day on Thursday, boosted by a slipping dollar and
reports that data showed a draw in crude this week at Cushing, Oklahoma, the delivery point for
U.S. crude futures.
MARKET NEWS
* Stock markets around the world rallied on Thursday, while the U.S. dollar fell, a day after
the Federal Reserve signalled that interest rates would rise more slowly than many had
expected.
RELATED
> Argentina says raises 2014/15 soy crop estimate to 61 mln tonnes
> CF Industries to increase production of urea-based products at courtright nitrogen complex in
Ontario
> Brazil's Cooxupe says 7.8 pct of coffee crop in region harvested
> EPA defends controversial biofuels program at U.S. Senate hearing
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data
on Malaysia's June 1-20 palm oil exports on June 22.
Palm, soy and crude oil prices at 0030 GMT
Contract Month Last Change Low High Volume
MY PALM OIL JUL5 0 +0.00 0 0 0
MY PALM OIL AUG5 0 +0.00 0 0 0
MY PALM OIL SEP5 0 +0.00 0 0 0
CHINA PALM OLEIN JAN6 5070 -76.00 5058 5092 257320
CHINA SOYOIL JAN6 5848 -54.00 5832 5868 177848
CBOT SOY OIL JUL5 32.24 -2.80 32.22 32.34 726
INDIA PALM OIL JUN5 450.50 -2.80 449.80 452.70 778
INDIA SOYOIL JUN5 610.00 -0.15 607.50 610.40 4430
NYMEX CRUDE JUL5 60.33 -0.12 60.31 60.56 589
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
- Reuters
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