KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Tuesday June 30.
FUNDAMENTALS
* Malaysian palm oil futures eased on Monday, tracking other vegetable oils lower as cautious
traders eyed the negative impacts of a possible default by Greece on its debt repayment.
* Chicago Board of Trade wheat futures rose 2.5 percent on Monday, closing in positive territory
for the sixth time in seven sessions on support from wet weather that has been delaying harvest
in key U.S. growing areas, traders said.
* Crude futures hit 3-week lows on Monday as Greece shut its banks and imposed capital controls,
causing widespread risk aversion, while Iran looked likely to extend nuclear negotiations with
the West to export more of its oil into an oversupplied market.
MARKET NEWS
* U.S. stock futures edged up and the euro sagged in early Asian trading on Tuesday as Greece
lurched toward defaulting on a debt payment due later in the session, raising the likelihood of
the cash-strapped nation's exit from the euro zone.
RELATED
> Firm U.S. cash markets seen minimizing CBOT July deliveries
> Russian wheat prices may rise further this week - analysts
> Floods shut locks, halt barge traffic on Mississippi River
> Wet weather to persist in southern U.S. Corn Belt
> U.S. rains attract grain buyers' attention, but not business
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data
on Malaysia's June palm oil exports on June 30.
Palm, soy and crude oil prices at 0014 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 5076 -68.00 5054 5120 266092
CHINA SOYOIL JAN6 5776 -52.00 5750 5816 207060
CBOT SOY OIL DEC5 33.42 -1.40 33.35 33.42 367
INDIA PALM OIL JUN5 452.10 -1.40 452.10 453.10 642
INDIA SOYOIL AUG5 584.90 -1.45 583.50 588.90 61495
NYMEX CRUDE AUG5 58.29 -0.04 58.20 58.35 1026
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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