KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Monday.
FUNDAMENTALS
* Malaysian palm oil futures edged lower on Friday to record their third
straight weekly fall, as a stronger ringgit and weaker soyoil markets continued
to drag, along with the prospect of bigger stockpiles.
* U.S. corn futures jumped more than 2 percent on Friday in the strongest gains
in a month on technical buying and short-covering after sinking to a three-month
low the previous day.
* U.S. crude oil futures inched higher on Friday after a solid jobs report in
the United States pointed to economic strength and growing oil demand in the
world's largest oil consumer.
MARKET NEWS
* Global equity markets and the dollar rose on Friday, with U.S. stocks closing
at record highs, after data on U.S. jobs creation bolstered risk appetite that
was also fed by the European Central Bank's pledge to douse deflation with
bundles of cash.
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DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance
to release Malaysia's June 1-10 palm oil export data on June 10.
> Industry regulator the Malaysian Palm Oil Board (MPOB) to release data on
Malaysia's end-May palm oil stocks, exports and production on June 10.
Palm, soy and crude oil prices at 0013 GMT
Contract Month Last Change Low High Volume
MY PALM OIL JUN4 0 +0.00 0 0 0
MY PALM OIL JUL4 0 +0.00 0 0 0
MY PALM OIL AUG4 0 +0.00 0 0 0
CHINA PALM OLEIN SEP4 0 +0.00 0 0 0
CHINA SOYOIL SEP4 0 +0.00 0 0 0
CBOT SOY OIL JUL4 39.09 +0.08 39.00 39.14 848
NYMEX CRUDE JUL4 102.76 +0.10 102.62 102.78 1917
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
Crude in U.S. dollars per barrel
- Reuters
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