15.6 C
New York
Tuesday, May 24, 2022

VEGOILS-Market factors to watch July 23

The following factors are likely to influence Malaysian palm oil futures and other vegetable oil

markets.

FUNDAMENTALS

* Malaysian palm oil pulled back from a one-week high on Wednesday, with traders saying they

expected an increase in production in the third quarter that could eliminate any shortage of the

edible oil resulting from low output in July.

* U.S. corn futures fell on Wednesday, pressured by good weather for crop development across the

U.S. Midwest, traders said.

* Oil prices fell and U.S. crude settled below $ 50 a barrel on Wednesday after government data

showed crude inventories in the United States rose last week and as a stronger dollar and weaker

global equities applied pressure.

MARKET NEWS

* Global equity markets fell on Wednesday, pulled down by a weak revenue forecast at Apple Inc,

the world’s largest company, while a rebounding dollar after its biggest decline in a month

weighed on gold and some stocks.

RELATED

> Improving weather view pressures U.S. corn, soy, wheat

> High stocks to dampen sugar prices despite deficit outlook -ISO

> Weak sugar price recovery seen in 2016 even as deficit emerges

> Cocoa falls on heavy chart-based selling, sugar steadies

> Costa Group prices IPO near bottom of target range-source

DATA/EVENTS

> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data

on Malaysia’s July 1-25 palm oil exports on July 25.

Palm, soy and crude oil prices at 0005 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 4864 -74.00 4816 4916 308024

CHINA SOYOIL JAN6 5666 -54.00 5602 5688 270496

CBOT SOY OIL DEC5 32.08 -3.30 32.04 32.11 349

INDIA PALM OIL JUL5 429.50 -3.30 427.10 433.00 788

INDIA SOYOIL AUG5 576.30 -4.15 576.00 581.90 46935

NYMEX CRUDE AUG5 51.67 +0.26 50.91 52.22 2214

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

* For a table on Malaysian physical palm oil prices, including refined oil, Reuters Terminal

users can double click on or type.

* To view freight rates from Peninsula Malaysia/Sumatra to China, India, Pakistan and

Rotterdam, please key in and press enter, or double click between the brackets.

* Reuters Terminal users can see cash and futures edible oil prices by double clicking on

the codes in the brackets: To go to the next page in the same chain, hit F12. To go back, hit

F11.

Vegetable oils —

Malaysian palm oil exports —

CBOT soyoil futures —

CBOT soybean futures —

Indian solvent —

Weekly Indian vegetable oils —

Dalian Commodity Exchange —

Dalian soyoil futures —

Dalian refined palm oil futures —

Zhengzhou rapeseed oil —

European edible oil prices/trades —

Related Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Stay Connected

11,301FansLike
12,893FollowersFollow
751FollowersFollow
- Advertisement -

Latest Articles

Popular Articles