KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Tuesday June 2.
* Malaysian palm oil futures rallied nearly 4 percent to their highest in 2-1/2 months on
Monday, tracking a jump in overseas soyoil markets and further underpinned by strong exports for
the month of May.
* U.S. wheat futures rallied 3.4 percent on Monday, bouncing off of their lowest in nearly three
weeks, on a round of short-covering, traders said.
* Oil settled down as much as 1 percent on Monday, retreating from Friday’s sharp rally on a
strong dollar and concern over stubbornly high supplies as OPEC was expected to stick with
robust production at its meeting this week.
* The U.S. dollar gained on Monday after a round of economic data kept expectations alive for an
interest rate hike from the Federal Reserve this year, while the euro fell on worry about
Greece’s financial crisis and soft euro zone data.
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> Argentine election candidates plan to unwind president’s policies
> Washington finds unlikely ally in OPEC as biofuels debate rages
> India monsoon rains delayed, to arrive by June 5-weather office
> Malaysia’s May palm oil exports rose 44.0 pct -SGS
> Malaysia’s May palm oil exports surge 44.7 pct -ITS
> 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 0014 GMT
|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||5220||+36.00||5202||5250||472110|
|CBOT SOY OIL||JUL5||34.57||+4.00||34.48||34.58||1195|
|INDIA PALM OIL||JUN5||466.00||+4.00||459.30||468.80||3175|
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