KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Tuesday Aug 4.
FUNDAMENTALS
* Malaysian palm oil futures hit an eleven-month low on Monday, as other vegetable oils traded
lower and expectations of weak demand and higher output in the coming weeks weighed on prices.
* U.S. corn futures hit a six-week low on Monday and soybeans slid for a second straight session
as favorable weather in the U.S. Midwest eased crop concerns, while fresh worries about flagging
Chinese growth led to a broad retreat in commodity markets.
* Oil prices lurched 5 percent lower on Monday to their lowest since January, taking global
benchmark Brent below $50 a barrel as weak factory activity in China deepened a commodity-wide
rout.
MARKET NEWS
* Stocks fell and oil futures prices sank to a six-month low on Monday on demand concerns after
factory data from China and the United States disappointed.
RELATED
> Indonesia tightens corn imports to support domestic producers
> India retains monsoon rain forecast in drought territory
> ADM says Brazil soy profit margin to fall sharply in 2015/16
> Patchy rain in Ivory Coast promising for main cocoa crop
> Weaker currency opens window for Brazil ethanol exports
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data
on Malaysia's August 1-10 palm oil exports on August 10.
Palm, soy and crude oil prices at 0009 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 4784 +28.00 4766 4798 253962
CHINA SOYOIL JAN6 5520 +24.00 5496 5542 214348
CBOT SOY OIL DEC5 30.66 -2.00 30.64 30.71 291
INDIA PALM OIL JUL5 419.10 -2.00 417.50 420.40 856
INDIA SOYOIL AUG5 576.50 +6.00 568.20 576.60 66095
NYMEX CRUDE SEP5 48.50 -0.02 48.43 48.57 1325
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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