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 tumbled to their lowest in nearly five years on
Friday to record their biggest weekly fall since March 2013, under pressure from
a surge in the ringgit as well as concerns over food and fuel demand.
* U.S. wheat futures jumped on Friday on concerns that rising tensions between
Ukraine and Russia will disrupt wheat shipments from the two key exporters,
while corn posted its biggest weekly gain in five months.
* Brent and U.S. crude futures jumped more than $1 a barrel on Friday on news
that Ukraine forces had engaged a Russian armored column on Ukrainian soil.
MARKET NEWS
* Global equity markets seesawed and government bond yields fell sharply in a
flight to safety on Friday after Ukraine said its artillery shelled a Russian
armored column on Ukrainian soil in a report that raised fears of escalating
tensions.
RELATED
> Malaysia's Aug 1-15 palm oil exports fell 15.9 pct -SGS
> Malaysia's August 1-15 palm exports fall 15.2 pct -ITS
> Malaysia cuts September crude palm oil export tax to 4.5 pct
> Indonesia lawmakers draft bill to slash foreign ownership of plantations
> Argentina seeks to export more food to sanction-hit Russia
> Deere to lay off more than 600 at four U.S. plants
> Interview-U.S. railcar crunch makes crop storage critical
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance
to release August 1-20 palm oil export data on August 20.
Palm, soy and crude oil prices at 0023 GMT
Contract Month Last Change Low High Volume
MY PALM OIL SEP4 0 +0.00 0 0 0
MY PALM OIL OCT4 0 +0.00 0 0 0
MY PALM OIL NOV4 0 +0.00 0 0 0
CHINA PALM OLEIN JAN5 5296 -106.00 5288 5378 351488
CHINA SOYOIL JAN5 0 +0.00 0 0 0
CBOT SOY OIL DEC4 33.17 -0.04 33.11 33.23 772
NYMEX CRUDE SEP4 96.97 -0.38 96.81 97.16 1817
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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