KUALA LUPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Friday July 10.
FUNDAMENTALS
* Chicago Board of Trade soybean futures surged 2.9 percent on Thursday on concerns that more
rain in the U.S. Midwest would hinder crop development, traders said.
* Chicago Board of Trade soybean futures surged 2.9 percent on Thursday on concerns that more
rain in the U.S. Midwest would hinder crop development, traders said.
* Oil rebounded sharply on Thursday from three-month lows hit earlier this week, with prices up
nearly 3 percent as China's collapsing stock market steadied and oil traders remained uncertain
about negotiations for a nuclear deal that will allow Iran to export more crude.
MARKET NEWS
* U.S. stock futures jumped and the euro gained in early Asian trade on Friday after Greece
offered new reform proposals to creditors, raising hopes of a cash-for-reform deal at a weekend
summit of European leaders.
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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 0020 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 4896 +172.00 4818 4908 326716
CHINA SOYOIL JAN6 5672 +218.00 5582 5672 399760
CBOT SOY OIL DEC5 32.87 +5.10 32.77 32.97 710
INDIA PALM OIL JUL5 436.00 +5.10 430.50 437.90 1733
INDIA SOYOIL AUG5 580.90 +8.00 573.50 581.90 79445
NYMEX CRUDE AUG5 52.72 -0.06 52.48 52.98 3570
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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