KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Wednesday June 6.
FUNDAMENTALS
| > | Malaysian palm oil futures hit a three-month high on Tuesday, extending gains into a fourth straight session, buoyed by an overnight rally in soyoil markets and a weak ringgit. |
| > | U.S. corn, soybean and wheat futures rallied on Tuesday, supported by a steep decline in the dollar that made all three commodities more attractive to investors looking for a hedge against inflation, traders said. |
| > | Oil prices rose on Tuesday, driven by a weak dollar and expectations that U.S. crude supplies could have fallen last week for a fifth straight week. |
MARKET NEW
| > | U.S. stocks edged down on Tuesday while the dollar fell and bond yields rose as investors sought clarity on Greece’s debt crisis and awaited the U.S. jobs report. |
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DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data
on Malaysia’s June 1-10 palm oil exports 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 0019 GMT
| Contract |
Month
|
Last
|
Change
|
Low
|
High
|
Volume
|
| MY PALM OIL |
JUN5
|
0
|
+0.00
|
0
|
0
|
0
|
| MY PALM OIL |
JUL5
|
0
|
+0.00
|
0
|
0
|
0
|
| MY PALM OIL |
AUG5
|
0
|
+0.00
|
0
|
0
|
0
|
| CHINA PALM OLEIN |
SEP5
|
5218
|
-4.00
|
5196
|
5248
|
351394
|
| CHINA SOYOIL |
SEP5
|
5888
|
-26.00
|
5880
|
5936
|
362066
|
| CBOT SOY OIL |
JUL5
|
34.28
|
-2.20
|
34.23
|
34.30
|
1349
|
| INDIA PALM OIL |
JUN5
|
463.50
|
-2.20
|
462.50
|
468.40
|
2477
|
| INDIA SOYOIL |
JUN5
|
624.85
|
+2.75
|
618.00
|
627.40
|
47355
|
| NYMEX CRUDE |
JUL5
|
60.92
|
-0.34
|
60.86
|
61.04
|
1539
|
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
Source : The Star
