KUAL LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Tuesday July 7.
FUNDAMENTALS
* Malaysian palm oil lost ground on Monday, falling 1.5 percent as stocks and commodities slid
after Greece rejected terms of a bailout package, raising risk of a global financial crisis.
* U.S. corn and soybean futures dropped on Monday as lighter-than-expected U.S. rainfall eased
fears about soggy Midwest crops while worries over Greece and China led investors to shun many
commodity markets.
* Oil prices suffered their biggest selloff in five months on Monday, falling as much as 8
percent as Greece's rejection of debt bailout terms and China's stock market woes set off a
deepening spiral of losses.
MARKET NEWS
* Equity markets around the world fell on Monday and U.S. oil prices tumbled 7 percent after
Greece overwhelmingly voted against conditions for a rescue package and following unprecedented
measures in China to staunch recent massive losses in its stock markets.
RELATED
> Closing bell rings on Chicago futures pits for final time
> Greece, China woes trigger fresh rout, led by oil, copper
> Corn, soy slip on improved U.S. weather, Greece jitters
> Hesitant EU wheat market weighs up weather impact
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 0021 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 4986 -32.00 4938 4996 220870
CHINA SOYOIL JAN6 5732 -4.00 5678 5734 173174
CBOT SOY OIL DEC5 33.11 -4.10 33.05 33.12 614
INDIA PALM OIL JUL5 442.90 -4.10 440.80 446.00 1179
INDIA SOYOIL AUG5 581.80 -2.10 578.20 583.10 46465
NYMEX CRUDE AUG5 52.94 +0.41 52.70 52.97 4381
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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