KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Wednesday July 29.
FUNDAMENTALS
* Malaysian palm oil futures fell on Tuesday for a fifth straight session to their lowest in
three months, reflecting weakness in competing markets and declines in commodities globally,
although a weak ringgit provided some support.
* Chicago soybean, wheat and corn futures bounced on Tuesday, rising on bargain-buying and
short-covering after setting recent lows.
* Oil prices steadied on Tuesday, with Brent recovering from near six-month lows and U.S. crude
settling more than 1 percent higher as bets for a drop in U.S. stockpiles offset concern over a
global oil supply glut and China's stock market meltdown.
MARKET NEWS
* U.S. and European stock markets climbed 1 percent or more on Tuesday, reversing five days of
declines, as investors looked past China's equities sell-off and took buying cues from earnings
and mergers news.
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DATA/EVENTS
> nil.
Palm, soy and crude oil prices at 0000 GMT
Contract Month Last Change Low High Volume
MY PALM OIL AUG5 0 +0.00 0 0 0
MY PALM OIL SEP5 0 +0.00 0 0 0
MY PALM OIL OCT5 0 +0.00 0 0 0
CHINA PALM OLEIN JAN6 4790 +54.00 4752 4790 229196
CHINA SOYOIL JAN6 5504 +44.00 5470 5520 243524
CBOT SOY OIL DEC5 31.04 +1.30 31.03 31.12 166
INDIA PALM OIL JUL5 425.40 +1.30 422.20 425.60 834
INDIA SOYOIL AUG5 569.20 +4.00 565.50 569.70 37785
NYMEX CRUDE SEP5 47.73 -0.25 47.66 47.81 1306
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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