KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Wednesday July 1.
FUNDAMENTALS
* Malaysian palm oil futures flirted with one-month lows on Tuesday, falling as much as 2
percent with sentiment hit by the collapse of Greek bailout talks.
* U.S. grain and soybean futures on Tuesday climbed to their highest prices since December after
the U.S. Agriculture Department said crop stockpiles and spring plantings were smaller than
analysts expected.
* Oil prices ended higher as it rebounded from three-week lows on Tuesday with U.S. refined fuel
trading leading the rally on bets for strong summer demand, even as Greece's move toward a debt
default threatened to jolt global markets.
MARKET NEWS
* The euro remained on the defensive in Asia on Wednesday as Greece became the first developed
economy to default on a loan with the IMF, setting the scene for another day of uneasy action in
markets.
RELATED
> Indonesia keeps palm oil, cocoa bean export tax unchanged in July
> USDA to resurvey for seedings of cotton, soy, sorghum
> U.S. corn, soy stocks grow less than expected; demand strong
> Canada canola-crop problems cut crusher profits to 2-year low
> Canadian farmers plant more canola, less wheat than expected
> S.Africa lowers 2015 maize output forecast, soybean harvest seen at record
> Germany's grain harvest to fall after dry weather -farmers
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data
on Malaysia's July 1-10 palm oil exports on July 10.
Palm, soy and crude oil prices at 2355 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 5044 +12.00 4996 5052 233522
CHINA SOYOIL JAN6 5752 +18.00 5700 5758 146628
CBOT SOY OIL DEC5 34.07 +1.00 0.00 0.00 0
INDIA PALM OIL JUL5 448.00 +1.00 443.10 448.70 2434
INDIA SOYOIL AUG5 588.50 +3.25 580.60 588.90 76825
NYMEX CRUDE AUG5 59.47 +0.00 0.00 0.00 0
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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