Malaysian palm oil/Vegoils: Market factors to watch on Friday June 19


  • Business
  • Friday, 19 Jun 2015

KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Friday June 19.
    
FUNDAMENTALS
* Malaysian palm oil futures fell more than 2 percent on Thursday in the biggest drop in three
months as the ringgit advanced and competing soyoil markets overseas weighed on sentiment. 
* U.S. soybean futures rose for the third day in a row on Thursday, touching their highest in
more than five weeks on concerns that dry weather will arrive too late to allow for planting in
rain-soaked areas of the Midwest, traders said. 
* Oil prices settled up for a third straight day on Thursday, boosted by a slipping dollar and
reports that data showed a draw in crude this week at Cushing, Oklahoma, the delivery point for
U.S. crude futures. 
    
MARKET NEWS
* Stock markets around the world rallied on Thursday, while the U.S. dollar fell, a day after
the Federal Reserve signalled that interest rates would rise more slowly than many had
expected.    
    
RELATED
> Argentina says raises 2014/15 soy crop estimate to 61 mln tonnes 
> CF Industries to increase production of urea-based products at courtright nitrogen complex in
Ontario  
> Brazil's Cooxupe says 7.8 pct of coffee crop in region harvested 
> EPA defends controversial biofuels program at U.S. Senate hearing      
             
DATA/EVENTS 
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data
on Malaysia's June 1-20 palm oil exports on June 22.   
    
  Palm, soy and crude oil prices at 0030 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    5070   -76.00    5058    5092  257320
  CHINA SOYOIL     JAN6    5848   -54.00    5832    5868  177848
  CBOT SOY OIL     JUL5   32.24    -2.80   32.22   32.34     726
  INDIA PALM OIL   JUN5  450.50    -2.80  449.80  452.70     778
  INDIA SOYOIL     JUN5  610.00    -0.15  607.50  610.40    4430
  NYMEX CRUDE      JUL5   60.33    -0.12   60.31   60.56     589
                                                                       
  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
Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3

palm oil , oil palm , market , futures , cpo , plantations , commodities , klci , klse , oil , shares , stocks ,

   

Across The Star Online