KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Wednesday June 10.
* Malaysian palm oil futures inched down on Tuesday as investors booked profits ahead of key industry data on monthly inventories and output in the No.2 producer, with prices facing pressure as the ringgit clawed back gains from nine-year lows.
* U.S. wheat futures jumped as much as 1 percent on Tuesday, extending gains from the previous session to a two-month high as investors bet that heavy rains would hit yields of the winter wheat crop in the southern U.S. Plains.
* Prices for crude oil, gasoline and diesel jumped more than 3 percent on Tuesday, as bullish investors made bets across the oil complex for another weekly drop in U.S. stockpiles.
* U.S. stocks ended Tuesday virtually unchanged after a choppy trading day with investors hesitant to make bets while a sharp increase in oil prices failed to boost energy stocks.
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> Ghana cocoa output to rise in coming 2015/16 season -ICCO
> Brazil exports 2.50 mln bags green coffee in May – export assoc
> S.Africa’s poultry industry says U.S. imports to cost 6,500 jobs
> 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 0452 GMT
Contract Month Last Change Low High Volume
MY PALM OIL FEB5 2240 -24.00 2230 2254 29
MY PALM OIL MAR5 2228 -19.00 2220 2249 388
MY PALM OIL APR5 2210 -20.00 2202 2222 7986
CHINA PALM OLEIN MAY5 4846 -22.00 4844 4874 180294
CHINA SOYOIL MAY5 5514 -52.00 5508 5562 240078
CBOT SOY OIL MAR5 31.48 -3.50 31.47 31.57 2367
INDIA PALM OIL JAN5 434.90 -3.50 434.00 439.50 488
INDIA SOYOIL FEB5 616.00 -9.00 615.70 624.80 50145
NYMEX CRUDE MAR5 45.06 -0.53 44.35 45.35 25835
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
Source : The Star]]>