KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Monday July 6.
FUNDAMENTALS
* Malaysian palm oil hit a one-week peak on Friday, tracking rival vegetable oils higher with
support from a weak ringgit, but eased in light afternoon trade to levels nearer Thursday's
close to end the week down slightly.
* U.S. corn futures rose to a six-month peak on Thursday, adding to strong gains earlier in the
week as adverse weather in parts of the U.S. Midwest and Western Europe threatened crops.
* Oil prices dropped on Friday as a rising U.S. rig count stoked more concerns about global
oversupply while an investigation by Chinese regulators into suspected stock market manipulation
further unsettled the market.
MARKET NEWS
* The euro fell sharply in Asia on Monday after polls suggested the Greeks had overwhelmingly
rejected austerity measures demanded in return for bailout money, putting in doubt its continued
place in the single currency.
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DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data
on Malaysia's July 1-10 palm oil exports on July 10.
Palm, soy and crude oil prices at 0012 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 5106 -28.00 5084 5120 129886
CHINA SOYOIL JAN6 5812 -20.00 5790 5830 103004
CBOT SOY OIL DEC5 33.64 +0.40 33.56 33.92 1354
INDIA PALM OIL JUL5 447.10 +0.40 445.50 448.00 815
INDIA SOYOIL AUG5 583.65 -1.30 583.10 586.70 47985
NYMEX CRUDE AUG5 55.00 -1.93 54.44 55.14 14301
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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