GRAINS-Corn drops for 3rd session on recession fears, wheat eases
SINGAPORE, Sept 1 (Reuters) - Chicago corn slid for a third consecutive session on Thursday as growing concerns over a global recession weighed on commodity markets, although losses were limited by hot weather curbing U.S. and European crop prospects.
Wheat and soybeans edged lower.
FUNDAMENTALS
The most-active corn contract on the Chicago Board of Trade (CBOT) Cv1 slid 0.3% to $6.68-1/2 a bushel, as of 0018 GMT and wheat Wv1 gave up 0.7% to $8.26 a bushel.
Soybeans Sv1 lost 0.1% to $14.21-1/4 a bushel.
Global markets are being weighed down by fears of recession which dragged down stocks and commodities on Wednesday.
However, expectations of lower U.S. production is supporting corn prices.
Advisory service Pro Farmer last week estimated the U.S. corn yield at 168.1 bushels per acre, well below the USDA's forecast of 175.4. The Pro Farmer harvest projection followed a four-day Midwest crop tour that showed the effects of hot, dry weather in some areas.
For soybeans, Pro Farmer predicted a U.S. crop of 4.535 billion bushels, close to the USDA's August forecast of 4.531 billion bushels.
Worries about shipments from war-torn Ukraine is likely to support corn and wheat futures.
Grain silos in Ukraine's second-biggest port, Mykolaiv, were hit by Russian shelling of the city on Tuesday, causing a fire that was still burning on Wednesday, Ukraine's emergencies service said.
The U.S. Department of Agriculture (USDA) confirmed private sales of 167,000 tonnes of U.S. soybeans to China, the latest in a series of U.S. soy sales announcements in the last two weeks.
The USDA on Wednesday said it would not publish weekly export sales data for crops like corn, soybeans and wheat until Sept. 15 at the earliest, leaving grain traders in the dark about overseas demand.
It is struggling to launch a new reporting system for the data, which has a week-long delay and is analysed by traders and farmers.
Commodity funds were net sellers of CBOT soybean, corn and soymeal futures contracts on Wednesday and net buyers of wheat and soyoil futures, traders said.
MARKET NEWS
World stocks fell again on Wednesday, as expectations that central banks on both sides of the Atlantic will likely raise borrowing costs again next month soured sentiment and stoked recession fears, which dragged oil prices below $90 a barrel.
By: via Malaysian Palm Oil Council Russia
среда, 31 августа 2022 г.
Malaysian Palm Oil Council Russia's Post
VEGOILS-Palm oil slips as Indonesia lowers thresholds on export levies
KUALA LUMPUR, Sept 1 (Reuters) - Malaysian palm oil futures slipped on Thursday, tracking weaker rival oils, after top producer Indonesia lowered the thresholds for its levies on shipments of the commodity.
The benchmark palm oil contract FCPOc3 for November delivery on the Bursa Malaysia Derivatives Exchange slid 16 ringgit, or 0.39%, to 4,125 ringgit a tonne during early trade.
FUNDAMENTALS
The new levies by Indonesia will come into effect on Nov. 1, marking an end to several months where the country waived the tariffs to encourage shipments amid a glut in domestic stock.
Indonesia has set its crude palm oil reference price at $929.66 per tonne for Sept. 1-15 period, putting the export tax lower than previously expected at $74 per tonne.
Exports of Malaysian palm oil products for August rose 1.6% to 1,299,116 tonnes from July, cargo surveyor Intertek Testing Services said on Wednesday.
Dalian's most-active soyoil contract DBYcv1 fell 0.7%, while its palm oil contract DCPcv1 lost 0.3%. Soyoil prices on the Chicago Board of Trade BOcv1 were down 1%.
Palm oil is affected by price movements in related oils as they compete for a share in the global vegetable oils market.
Palm oil is poised to break a support at 4,085 ringgit per tonne, and fall towards 3,857 ringgit, Reuters technical analyst Wang Tao said.
MARKET NEWS
Asian stocks slid and the dollar spiked, as investors greeted September by selling everything that was not nailed down after a month battered by concerns about aggressive rate hikes from global policymakers.
By: via Malaysian Palm Oil Council Russia
KUALA LUMPUR, Sept 1 (Reuters) - Malaysian palm oil futures slipped on Thursday, tracking weaker rival oils, after top producer Indonesia lowered the thresholds for its levies on shipments of the commodity.
The benchmark palm oil contract FCPOc3 for November delivery on the Bursa Malaysia Derivatives Exchange slid 16 ringgit, or 0.39%, to 4,125 ringgit a tonne during early trade.
FUNDAMENTALS
The new levies by Indonesia will come into effect on Nov. 1, marking an end to several months where the country waived the tariffs to encourage shipments amid a glut in domestic stock.
Indonesia has set its crude palm oil reference price at $929.66 per tonne for Sept. 1-15 period, putting the export tax lower than previously expected at $74 per tonne.
Exports of Malaysian palm oil products for August rose 1.6% to 1,299,116 tonnes from July, cargo surveyor Intertek Testing Services said on Wednesday.
Dalian's most-active soyoil contract DBYcv1 fell 0.7%, while its palm oil contract DCPcv1 lost 0.3%. Soyoil prices on the Chicago Board of Trade BOcv1 were down 1%.
Palm oil is affected by price movements in related oils as they compete for a share in the global vegetable oils market.
Palm oil is poised to break a support at 4,085 ringgit per tonne, and fall towards 3,857 ringgit, Reuters technical analyst Wang Tao said.
MARKET NEWS
Asian stocks slid and the dollar spiked, as investors greeted September by selling everything that was not nailed down after a month battered by concerns about aggressive rate hikes from global policymakers.
By: via Malaysian Palm Oil Council Russia
Malaysian Palm Oil Council Russia's Post
Indonesia increases 2022 biodiesel allocation to 11.03 mln kl statement
JAKARTA, Aug 29 (Reuters) - Indonesia raised its 2022 biodiesel allocation to 11.03 million kilolitres from 10.15 million, following an expectation of rising diesel consumption in the fourth quarter this year, chief economic minister, Airlangga Hartarto, said on Monday.
Indonesia has also decided to extend its export levy waiver until Oct. 31. The world's top palm oil exporter has waived palm oil export levy since mid-July.
By: via Malaysian Palm Oil Council Russia
JAKARTA, Aug 29 (Reuters) - Indonesia raised its 2022 biodiesel allocation to 11.03 million kilolitres from 10.15 million, following an expectation of rising diesel consumption in the fourth quarter this year, chief economic minister, Airlangga Hartarto, said on Monday.
Indonesia has also decided to extend its export levy waiver until Oct. 31. The world's top palm oil exporter has waived palm oil export levy since mid-July.
By: via Malaysian Palm Oil Council Russia
воскресенье, 28 августа 2022 г.
Malaysian Palm Oil Council Russia's Post
GRAINS-Corn jumps to 2-month high as dryness curbs U.S. yields
SINGAPORE, Aug 29 (Reuters) - Chicago corn futures rose for a second session on Monday to their highest in two months after a U.S. crop tour forecast lower production, raising concerns over global supplies.
Wheat gained more ground, while soybeans eased.
FUNDAMENTALS
The most-active corn contract on the Chicago Board of Trade (CBOT) CV1 added 0.8% to $6.69-1/2 a bushel, as of 0022 GMT, after climbing to its highest since June 24 at $6.74 a bushel.
Wheat Wv1 rose 0.5% to $8.09-1/2 a bushel and soybeans Sv1 lost 0.7% to $14.50-3/4 a bushel.
Advisory service Pro Farmer projected a U.S. corn harvest of 13.759 billion bushels, which would be the smallest since 2019 and below government forecasts for 14.359 billion bushels.
Pro Farmer predicted a soybean crop of 4.535 billion bushels, slightly bigger than the U.S. Department Agriculture outlook for a record 4.531 billion bushels.
Ukraine's 2022 wheat harvest is 98% complete at 18.8 million tonnes in spite of the war in the country's east and south, data from Ukraine's agriculture ministry showed.
Ukraine, a major global grain grower and exporter, harvested a record 86 million tonnes of grain in 2021 including 42.1 million tonnes of corn and 32.2 million tonnes of wheat.
India, the world's biggest rice exporter, is considering whether to restrict exports of 100% broken rice, government and industry officials told Reuters on Friday, after the paddy area has been reduced by a lack of rainfall.
The potential export curbs could lift rice prices globally because India accounts for more than 40% of the world's rice shipments. It could also hit a few poor African countries that import 100% broken rice for human consumption, though that variety is mainly used for feed purposes.
Large speculators raised their net long position in CBOT corn futures in the week to Aug. 23, regulatory data released on Friday showed.
The Commodity Futures Trading Commission's weekly commitments of traders report also showed that non-commercial traders, a category that includes hedge funds, increased their net short position in CBOT wheat and raised their net long position in soybeans.
MARKET NEWS
Asian shares slid on Monday, as the mounting risk of more aggressive rate hikes in the United States and Europe shoved bond yields higher and tested equity and earnings valuations.
By: via Malaysian Palm Oil Council Russia
SINGAPORE, Aug 29 (Reuters) - Chicago corn futures rose for a second session on Monday to their highest in two months after a U.S. crop tour forecast lower production, raising concerns over global supplies.
Wheat gained more ground, while soybeans eased.
FUNDAMENTALS
The most-active corn contract on the Chicago Board of Trade (CBOT) CV1 added 0.8% to $6.69-1/2 a bushel, as of 0022 GMT, after climbing to its highest since June 24 at $6.74 a bushel.
Wheat Wv1 rose 0.5% to $8.09-1/2 a bushel and soybeans Sv1 lost 0.7% to $14.50-3/4 a bushel.
Advisory service Pro Farmer projected a U.S. corn harvest of 13.759 billion bushels, which would be the smallest since 2019 and below government forecasts for 14.359 billion bushels.
Pro Farmer predicted a soybean crop of 4.535 billion bushels, slightly bigger than the U.S. Department Agriculture outlook for a record 4.531 billion bushels.
Ukraine's 2022 wheat harvest is 98% complete at 18.8 million tonnes in spite of the war in the country's east and south, data from Ukraine's agriculture ministry showed.
Ukraine, a major global grain grower and exporter, harvested a record 86 million tonnes of grain in 2021 including 42.1 million tonnes of corn and 32.2 million tonnes of wheat.
India, the world's biggest rice exporter, is considering whether to restrict exports of 100% broken rice, government and industry officials told Reuters on Friday, after the paddy area has been reduced by a lack of rainfall.
The potential export curbs could lift rice prices globally because India accounts for more than 40% of the world's rice shipments. It could also hit a few poor African countries that import 100% broken rice for human consumption, though that variety is mainly used for feed purposes.
Large speculators raised their net long position in CBOT corn futures in the week to Aug. 23, regulatory data released on Friday showed.
The Commodity Futures Trading Commission's weekly commitments of traders report also showed that non-commercial traders, a category that includes hedge funds, increased their net short position in CBOT wheat and raised their net long position in soybeans.
MARKET NEWS
Asian shares slid on Monday, as the mounting risk of more aggressive rate hikes in the United States and Europe shoved bond yields higher and tested equity and earnings valuations.
By: via Malaysian Palm Oil Council Russia
Malaysian Palm Oil Council Russia's Post
VEGOILS-Palm rebounds, Indonesia levy waiver weighs
KUALA LUMPUR, Aug 29 (Reuters) - Malaysian palm oil futures rose on Monday, rebounding from a two-session decline, but top producer Indonesia's extension of its export levy waiver weighed on sentiment.
The benchmark palm oil contract FCPOc3 for November delivery on the Bursa Malaysia Derivatives Exchange gained 30 ringgit, or 0.72%, to 4,204 ringgit ($937.14) a tonne during early trade.
Palm is set for a short trading week, as the Malaysia bourse will be closed on Wednesday for a public holiday.
FUNDAMENTALS
Indonesia raised its 2022 biodiesel allocation to 11.03 million kilolitres from 10.15 million, following an expectation of rising diesel consumption in the fourth quarter this year, chief economic minister, Airlangga Hartarto, said.
The world's biggest producer also decided to extend its export levy waiver until Oct. 31.
Dalian's most-active soyoil contract DBYcv1 fell 0.1%, while its palm oil contract DCPcv1 fell 0.8%. Soyoil prices on the Chicago Board of Trade BOcv1 were down 1%.
Palm oil is affected by price movements in related oils, as they compete for a share in the global vegetable oils market.
Palm oil may test a support at 4,085 ringgit per tonne, a break below may open the way towards 3,857 ringgit, Reuters technical analyst Wang Tao said.
MARKET NEWS
Asian shares slid, as the mounting risk of more aggressive rate hikes in the United States and Europe shoved bond yields and the dollar sharply higher, and tested equity and earnings valuations.
By: via Malaysian Palm Oil Council Russia
KUALA LUMPUR, Aug 29 (Reuters) - Malaysian palm oil futures rose on Monday, rebounding from a two-session decline, but top producer Indonesia's extension of its export levy waiver weighed on sentiment.
The benchmark palm oil contract FCPOc3 for November delivery on the Bursa Malaysia Derivatives Exchange gained 30 ringgit, or 0.72%, to 4,204 ringgit ($937.14) a tonne during early trade.
Palm is set for a short trading week, as the Malaysia bourse will be closed on Wednesday for a public holiday.
FUNDAMENTALS
Indonesia raised its 2022 biodiesel allocation to 11.03 million kilolitres from 10.15 million, following an expectation of rising diesel consumption in the fourth quarter this year, chief economic minister, Airlangga Hartarto, said.
The world's biggest producer also decided to extend its export levy waiver until Oct. 31.
Dalian's most-active soyoil contract DBYcv1 fell 0.1%, while its palm oil contract DCPcv1 fell 0.8%. Soyoil prices on the Chicago Board of Trade BOcv1 were down 1%.
Palm oil is affected by price movements in related oils, as they compete for a share in the global vegetable oils market.
Palm oil may test a support at 4,085 ringgit per tonne, a break below may open the way towards 3,857 ringgit, Reuters technical analyst Wang Tao said.
MARKET NEWS
Asian shares slid, as the mounting risk of more aggressive rate hikes in the United States and Europe shoved bond yields and the dollar sharply higher, and tested equity and earnings valuations.
By: via Malaysian Palm Oil Council Russia
четверг, 25 августа 2022 г.
Malaysian Palm Oil Council Russia's Post
GRAINS-Corn set for weekly gain on U.S. crop concerns; soybeans firm
SINGAPORE, Aug 26 (Reuters) - Chicago corn futures gained on Friday, with the market climbing for seven of eight sessions and poised for a weekly gain as hot weather conditions continue to impact U.S. crop, raising concerns over world supplies.
Soybeans rose, while wheat ticked lower.
FUNDAMENTALS
The most-active corn contract on the Chicago Board of Trade (CBOT) Cv1 was up 0.7% at $6.54-1/2 a bushel, as of 0155 GMT. The market gained more than 5% this week and is trading close to a two-month high scaled earlier this week.
Soybeans Sv1 and wheat Wv1 climbed more than 2% each this week.
Farmers and commodity traders are closely watching the Pro Farmer Midwest Crop Tour at a time when bumper U.S. crops are needed to offset low global grain supplies. Yet, extreme heat and drought in parts of the Midwest have caused concern over weather impacts on crop yields.
Iowa's corn yield prospects are on par with the three-year average, while soybean pod counts are above the three-year average, scouts on an annual tour of top U.S. production states found on Thursday.
India's cabinet on Thursday approved a policy to restrict wheat flour exports to calm prices in the local market, the government said in a statement.
As China's record heatwave starts to subside, farmers are assessing the damage caused by a prolonged drought and the government is urging them to replant or switch crops where they can.
More than 70 days of extreme temperatures and low rainfall have wreaked havoc along the basin of the Yangtze, which supports more than 450 million people as well as a third of the country's crops.
Egypt, one of the world's largest wheat importers, is believed to have made no purchase of imported wheat in talks with trading houses on Wednesday, traders said. The General Authority for Supply Commodities (GASC) considered prices offered as too high, they said.
Nearly complete quality results from France's soft wheat harvest showed slightly weaker protein levels than in initial samples, underscoring a decline compared with last year, according to data from farm office FranceAgriMer on Thursday.
For protein, 27% of soft wheat analysed so far came below 11% content, often a minimum standard for milling markets, compared with 24% in initial results published last week by FranceAgriMer with crop institute Arvalis.
Commodity funds were net sellers of CBOT wheat, soybean, corn and soymeal futures contracts on Thursday and net even in soyoil futures, traders said.
MARKET NEWS
Upbeat economic data in Germany and gains in U.S. mega-cap growth stocks helped lift an index of global stock markets on Thursday, while U.S. Treasury yields slipped as investors waited for the Federal Reserve's Jackson Hole meeting for insights into the central bank's plans to combat inflation.
By: via Malaysian Palm Oil Council Russia
SINGAPORE, Aug 26 (Reuters) - Chicago corn futures gained on Friday, with the market climbing for seven of eight sessions and poised for a weekly gain as hot weather conditions continue to impact U.S. crop, raising concerns over world supplies.
Soybeans rose, while wheat ticked lower.
FUNDAMENTALS
The most-active corn contract on the Chicago Board of Trade (CBOT) Cv1 was up 0.7% at $6.54-1/2 a bushel, as of 0155 GMT. The market gained more than 5% this week and is trading close to a two-month high scaled earlier this week.
Soybeans Sv1 and wheat Wv1 climbed more than 2% each this week.
Farmers and commodity traders are closely watching the Pro Farmer Midwest Crop Tour at a time when bumper U.S. crops are needed to offset low global grain supplies. Yet, extreme heat and drought in parts of the Midwest have caused concern over weather impacts on crop yields.
Iowa's corn yield prospects are on par with the three-year average, while soybean pod counts are above the three-year average, scouts on an annual tour of top U.S. production states found on Thursday.
India's cabinet on Thursday approved a policy to restrict wheat flour exports to calm prices in the local market, the government said in a statement.
As China's record heatwave starts to subside, farmers are assessing the damage caused by a prolonged drought and the government is urging them to replant or switch crops where they can.
More than 70 days of extreme temperatures and low rainfall have wreaked havoc along the basin of the Yangtze, which supports more than 450 million people as well as a third of the country's crops.
Egypt, one of the world's largest wheat importers, is believed to have made no purchase of imported wheat in talks with trading houses on Wednesday, traders said. The General Authority for Supply Commodities (GASC) considered prices offered as too high, they said.
Nearly complete quality results from France's soft wheat harvest showed slightly weaker protein levels than in initial samples, underscoring a decline compared with last year, according to data from farm office FranceAgriMer on Thursday.
For protein, 27% of soft wheat analysed so far came below 11% content, often a minimum standard for milling markets, compared with 24% in initial results published last week by FranceAgriMer with crop institute Arvalis.
Commodity funds were net sellers of CBOT wheat, soybean, corn and soymeal futures contracts on Thursday and net even in soyoil futures, traders said.
MARKET NEWS
Upbeat economic data in Germany and gains in U.S. mega-cap growth stocks helped lift an index of global stock markets on Thursday, while U.S. Treasury yields slipped as investors waited for the Federal Reserve's Jackson Hole meeting for insights into the central bank's plans to combat inflation.
By: via Malaysian Palm Oil Council Russia
Malaysian Palm Oil Council Russia's Post
VEGOILS-Palm oil heads for weekly gain amid bargain hunting
JAKARTA, Aug 26 (Reuters) - Malaysia's benchmark palm oil futures rebounded on Friday, driven by bargain buying, as the oilseed tracked a recent rally in rival oils and was poised for a weekly gain.
The benchmark palm oil contract FCPOc3 for November delivery on the Bursa Malaysia Derivatives Exchange gained 0.56% to 4,282 ringgit ($957.51) in early trade.
The contract has gained 4.62% so far this week.
FUNDAMENTALS
Cargo surveyor Intertek Testing Services and independent inspection company AmSpec Agri estimated exports of Malaysian palm oil products for Aug. 1-25 were up between 4.9% and 10%, while cargo surveyor Societe Generale de Surveillance reported exports fell 0.1%.
Soyoil prices on the Chicago Board of Trade BOc2 fell 0.12%, while Dalian's soyoil contract DBYv1 lost 0.70% and its palm oil contract DCPv1 was down 0.23%.
Palm oil is affected by price movements in related oils, as they compete for a share in the global vegetable oils market.
Top palm oil producer Indonesia has extended until Oct. 31 a policy of not collecting levies for palm oil exports, Trade Minister Zulkifli Hasan said on Wednesday amid efforts to encourage exports and prop up farmers' prices for fresh palm oil.
Palm oil FCPOc3 is expected to test a support at 4,085 ringgit per tonne, a break below may open the way towards 3,857 ringgit, Reuters technical analyst Wang Tao said.
MARKET NEWS
Asian shares rose on Friday, buoyed by news of possible progress for China and the United States to hammer out an audit deal, while traders anxiously awaited a speech from Federal Reserve Chair Jerome Powell on rate-hike path later in the day.
Oil prices rose in early trade on Friday on signs of improving fuel demand, although gains were capped as the market awaited clues from the U.S. Federal Reserve chairman on the outlook for rate hikes in a speech later in the day.
By: via Malaysian Palm Oil Council Russia
JAKARTA, Aug 26 (Reuters) - Malaysia's benchmark palm oil futures rebounded on Friday, driven by bargain buying, as the oilseed tracked a recent rally in rival oils and was poised for a weekly gain.
The benchmark palm oil contract FCPOc3 for November delivery on the Bursa Malaysia Derivatives Exchange gained 0.56% to 4,282 ringgit ($957.51) in early trade.
The contract has gained 4.62% so far this week.
FUNDAMENTALS
Cargo surveyor Intertek Testing Services and independent inspection company AmSpec Agri estimated exports of Malaysian palm oil products for Aug. 1-25 were up between 4.9% and 10%, while cargo surveyor Societe Generale de Surveillance reported exports fell 0.1%.
Soyoil prices on the Chicago Board of Trade BOc2 fell 0.12%, while Dalian's soyoil contract DBYv1 lost 0.70% and its palm oil contract DCPv1 was down 0.23%.
Palm oil is affected by price movements in related oils, as they compete for a share in the global vegetable oils market.
Top palm oil producer Indonesia has extended until Oct. 31 a policy of not collecting levies for palm oil exports, Trade Minister Zulkifli Hasan said on Wednesday amid efforts to encourage exports and prop up farmers' prices for fresh palm oil.
Palm oil FCPOc3 is expected to test a support at 4,085 ringgit per tonne, a break below may open the way towards 3,857 ringgit, Reuters technical analyst Wang Tao said.
MARKET NEWS
Asian shares rose on Friday, buoyed by news of possible progress for China and the United States to hammer out an audit deal, while traders anxiously awaited a speech from Federal Reserve Chair Jerome Powell on rate-hike path later in the day.
Oil prices rose in early trade on Friday on signs of improving fuel demand, although gains were capped as the market awaited clues from the U.S. Federal Reserve chairman on the outlook for rate hikes in a speech later in the day.
By: via Malaysian Palm Oil Council Russia
Malaysian Palm Oil Council Russia's Post
GRAINS-U.S. corn extends rally to seventh day; soybeans rise on output worries
MUMBAI, Aug 25 (Reuters) - U.S. corn futures rose for a seventh straight session on Thursday to trade near a two-month high, supported by concerns that hot and dry weather in the Midwest during key crop development periods could reduce yields.
Soybeans climbed on concerns over supplies from the United States, while wheat futures rose for a fifth straight session on lower supplies from the Black Sea region.
The Chicago Board of Trade (CBOT) most-active corn contract Cv1 was up 0.42% at $6.60 a bushel, as of 0129 GMT. Wheat Wv1 edged up 0.15% to $8.14-1/4 a bushel and soybeans Sv1 rose 0.05% to $14.57-3/4 a bushel.
FUNDAMENTALS
Corn yield prospects in Western Iowa are lower than last year, scouts on an annual tour of top U.S. producing states found on Wednesday. Illinois corn yield prospects and soybean pod counts are also lower than last year but above the three-year average.
Indiana corn yield prospects are lower than last year and below the three-year average, while corn yield prospects and soybean pod counts in Nebraska are also lower than last year and below their three-year averages.
Bumper U.S. crops are needed to offset low global grain supplies, but extreme heat and widespread drought in parts of the Midwest have hampered fields and a string of troubled crop harvests worldwide are pointing to multiple years of tight supplies and high food costs.
Brazil is set to plant its biggest soybean crop to date, as farmers in the world's largest supplier of the oilseed get ready to sow a larger area starting in September.
Extreme heat in China played havoc on Wednesday despite lower temperatures in some regions, with authorities across the Yangtze river basin scrambling to limit the damage from climate change on power, crops and livestock.
MARKET NEWS
Asian share markets were broadly positive while the dollar was slightly weaker, as investors were on tenterhooks waiting for the U.S. Federal Reserve's annual Jackson Hole conference to deliver an insight into the future direction of interest rates.
Oil prices rose in early Asian trade after Saudi Arabia suggested the Organization of the Petroleum Exporting Countries could consider cutting output.
By: via Malaysian Palm Oil Council Russia
MUMBAI, Aug 25 (Reuters) - U.S. corn futures rose for a seventh straight session on Thursday to trade near a two-month high, supported by concerns that hot and dry weather in the Midwest during key crop development periods could reduce yields.
Soybeans climbed on concerns over supplies from the United States, while wheat futures rose for a fifth straight session on lower supplies from the Black Sea region.
The Chicago Board of Trade (CBOT) most-active corn contract Cv1 was up 0.42% at $6.60 a bushel, as of 0129 GMT. Wheat Wv1 edged up 0.15% to $8.14-1/4 a bushel and soybeans Sv1 rose 0.05% to $14.57-3/4 a bushel.
FUNDAMENTALS
Corn yield prospects in Western Iowa are lower than last year, scouts on an annual tour of top U.S. producing states found on Wednesday. Illinois corn yield prospects and soybean pod counts are also lower than last year but above the three-year average.
Indiana corn yield prospects are lower than last year and below the three-year average, while corn yield prospects and soybean pod counts in Nebraska are also lower than last year and below their three-year averages.
Bumper U.S. crops are needed to offset low global grain supplies, but extreme heat and widespread drought in parts of the Midwest have hampered fields and a string of troubled crop harvests worldwide are pointing to multiple years of tight supplies and high food costs.
Brazil is set to plant its biggest soybean crop to date, as farmers in the world's largest supplier of the oilseed get ready to sow a larger area starting in September.
Extreme heat in China played havoc on Wednesday despite lower temperatures in some regions, with authorities across the Yangtze river basin scrambling to limit the damage from climate change on power, crops and livestock.
MARKET NEWS
Asian share markets were broadly positive while the dollar was slightly weaker, as investors were on tenterhooks waiting for the U.S. Federal Reserve's annual Jackson Hole conference to deliver an insight into the future direction of interest rates.
Oil prices rose in early Asian trade after Saudi Arabia suggested the Organization of the Petroleum Exporting Countries could consider cutting output.
By: via Malaysian Palm Oil Council Russia
среда, 24 августа 2022 г.
Malaysian Palm Oil Council Russia's Post
VEGOILS-Palm snaps four-day rally ahead of export data
JAKARTA, Aug 25 (Reuters) - Malaysia's benchmark palm oil futures fell on Thursday after four straight sessions of gains, with investors awaiting Aug. 1-25 export data from cargo surveyors for further direction.
The benchmark palm oil contract FCPOc3 for November delivery on the Bursa Malaysia Derivatives Exchange fell 1.28% to 4,253 ringgit ($949.33) a tonne in early trade. The contract gained 6.64% in the previous four sessions.
FUNDAMENTALS
Some cargo surveyors will release data on Malaysia's Aug. 1-25 palm oil exports on Thursday. Export data for Aug. 1-20 were mixed, with two cargo surveyors saying shipments dropped on a monthly basis, while one reported a rise.
Soyoil prices on the Chicago Board of Trade BOc2 were up 0.79%, while Dalian's soyoil contract DBYv1 gained 0.85% and its palm oil contract DCPv1 rose 0.09%.
Palm oil is affected by price movements in related oils, as they compete for a share in the global vegetable oils market.
Soybeans climbed on concerns over supplies from the United States, while wheat futures rose for a fifth straight session on lower supplies from the Black Sea region.
Top palm oil producer Indonesia has extended to Oct. 31 a policy of not collecting levies for palm oil exports, Trade Minister Zulkifli Hasan said on Wednesday amid efforts to encourage exports and prop up farmers' prices for fresh palm oil.
Palm oil looks neutral in a range of 4,085-4,350 ringgit per tonne, and an escape could suggest a direction, Reuters technical analyst Wang Tao said.
MARKET NEWS
Asian share markets were broadly positive while the dollar was slightly weaker, with investors nervously awaiting the U.S. Federal Reserve's annual Jackson Hole conference for clues on how sharp future interest rate hikes might be.
Oil prices rose in early Asian trade after Saudi Arabia suggested the Organization of the Petroleum Exporting Countries could consider cutting output, though bearish economic signals from central bankers and falling equities weighed.
By: via Malaysian Palm Oil Council Russia
JAKARTA, Aug 25 (Reuters) - Malaysia's benchmark palm oil futures fell on Thursday after four straight sessions of gains, with investors awaiting Aug. 1-25 export data from cargo surveyors for further direction.
The benchmark palm oil contract FCPOc3 for November delivery on the Bursa Malaysia Derivatives Exchange fell 1.28% to 4,253 ringgit ($949.33) a tonne in early trade. The contract gained 6.64% in the previous four sessions.
FUNDAMENTALS
Some cargo surveyors will release data on Malaysia's Aug. 1-25 palm oil exports on Thursday. Export data for Aug. 1-20 were mixed, with two cargo surveyors saying shipments dropped on a monthly basis, while one reported a rise.
Soyoil prices on the Chicago Board of Trade BOc2 were up 0.79%, while Dalian's soyoil contract DBYv1 gained 0.85% and its palm oil contract DCPv1 rose 0.09%.
Palm oil is affected by price movements in related oils, as they compete for a share in the global vegetable oils market.
Soybeans climbed on concerns over supplies from the United States, while wheat futures rose for a fifth straight session on lower supplies from the Black Sea region.
Top palm oil producer Indonesia has extended to Oct. 31 a policy of not collecting levies for palm oil exports, Trade Minister Zulkifli Hasan said on Wednesday amid efforts to encourage exports and prop up farmers' prices for fresh palm oil.
Palm oil looks neutral in a range of 4,085-4,350 ringgit per tonne, and an escape could suggest a direction, Reuters technical analyst Wang Tao said.
MARKET NEWS
Asian share markets were broadly positive while the dollar was slightly weaker, with investors nervously awaiting the U.S. Federal Reserve's annual Jackson Hole conference for clues on how sharp future interest rate hikes might be.
Oil prices rose in early Asian trade after Saudi Arabia suggested the Organization of the Petroleum Exporting Countries could consider cutting output, though bearish economic signals from central bankers and falling equities weighed.
By: via Malaysian Palm Oil Council Russia
Malaysian Palm Oil Council Russia's Post
CPO futures extend gains as demand improves
https://mpoc.org.my/cpo-futures-extend-gains-as-demand-improves/
KUALA LUMPUR (Aug 24): The crude palm oil (CPO) futures contracts on Bursa Malaysia Derivatives extended gains to close higher on Wednesday, spurred by positive market sentiment. Mumbai-based Sunvin Group commodity research head Anilkumar Bagani said the local market was influenced by the bullish momentum in the Chicago Board of Trade (CBOT) soybean oil futures […]
By: via Malaysian Palm Oil Council Russia
https://mpoc.org.my/cpo-futures-extend-gains-as-demand-improves/
KUALA LUMPUR (Aug 24): The crude palm oil (CPO) futures contracts on Bursa Malaysia Derivatives extended gains to close higher on Wednesday, spurred by positive market sentiment. Mumbai-based Sunvin Group commodity research head Anilkumar Bagani said the local market was influenced by the bullish momentum in the Chicago Board of Trade (CBOT) soybean oil futures […]
By: via Malaysian Palm Oil Council Russia
Malaysian Palm Oil Council Russia's Post
Basics of Deep Frying
https://mpoc.org.my/basics-of-deep-frying/
How to choose suitable oil for deep frying?
By: via Malaysian Palm Oil Council Russia
https://mpoc.org.my/basics-of-deep-frying/
How to choose suitable oil for deep frying?
By: via Malaysian Palm Oil Council Russia
Malaysian Palm Oil Council Russia's Post
GRAINS-U.S. corn, soybeans extend gains as output concerns grow
MUMBAI, Aug 24 (Reuters) - Chicago grains futures extended gains in early trade on Wednesday, as a tour of key growing areas in the Midwest raised concerns that the size of the U.S. corn and soybeans crop will fall below expectations.
The Chicago Board of Trade (CBOT) most-active corn contract Cv1 was up 1.34% at $6.64 a bushel, as of 0119 GMT, its highest level since June 30. Wheat Wv1 rose 1.31% to $8.11 a bushel and soybeans Sv1 climbed 0.74% to $14.71-3/4 a bushel.
FUNDAMENTALS
Indiana corn yield prospects are lower than last year and below the three-year average, scouts on an annual tour of top U.S. production states found on Tuesday.
South Dakota corn yields were projected at 118.45 bushels per acre, the Pro Farmer Midwest Crop Tour said on Monday, the worst on the tour since 2012.
The tour also found that Ohio corn yield prospects and soybean pod counts are lower than last year.
Bumper U.S. crops are needed to offset low global grain supplies, but extreme heat and widespread drought in parts of the U.S. Midwest have hampered fields and a string of troubled crop harvests worldwide are pointing to multiple years of tight supplies and high food costs.
Nebraska corn yield prospects and soybean pod counts are lower than last year and below their three-year averages.
Egypt's state grains buyer directly purchased 240,000 tonnes of Russian wheat on Monday, continuing its recent trend of buying without issuing international tenders.
The European Union's crop monitoring service MARS on Monday lowered its yield forecasts again for summer crops in the bloc, with major cuts in maize (corn), sunflower and soybeans, as it expected further damage from the recent dry and hot weather.
Crop prospects in the EU have taken on extra significance this year as Russia's invasion of Ukraine - a major wheat, corn and sunflower exporter - has disrupted Black Sea exports and raised uncertainty over Ukraine's harvest.
MARKET NEWS
The U.S. dollar steadied just below recent peaks on Wednesday, as investors waited to hear from the Federal Reserve and pondered whether weak U.S. data may slow the pace of rate hikes.
By: via Malaysian Palm Oil Council Russia
MUMBAI, Aug 24 (Reuters) - Chicago grains futures extended gains in early trade on Wednesday, as a tour of key growing areas in the Midwest raised concerns that the size of the U.S. corn and soybeans crop will fall below expectations.
The Chicago Board of Trade (CBOT) most-active corn contract Cv1 was up 1.34% at $6.64 a bushel, as of 0119 GMT, its highest level since June 30. Wheat Wv1 rose 1.31% to $8.11 a bushel and soybeans Sv1 climbed 0.74% to $14.71-3/4 a bushel.
FUNDAMENTALS
Indiana corn yield prospects are lower than last year and below the three-year average, scouts on an annual tour of top U.S. production states found on Tuesday.
South Dakota corn yields were projected at 118.45 bushels per acre, the Pro Farmer Midwest Crop Tour said on Monday, the worst on the tour since 2012.
The tour also found that Ohio corn yield prospects and soybean pod counts are lower than last year.
Bumper U.S. crops are needed to offset low global grain supplies, but extreme heat and widespread drought in parts of the U.S. Midwest have hampered fields and a string of troubled crop harvests worldwide are pointing to multiple years of tight supplies and high food costs.
Nebraska corn yield prospects and soybean pod counts are lower than last year and below their three-year averages.
Egypt's state grains buyer directly purchased 240,000 tonnes of Russian wheat on Monday, continuing its recent trend of buying without issuing international tenders.
The European Union's crop monitoring service MARS on Monday lowered its yield forecasts again for summer crops in the bloc, with major cuts in maize (corn), sunflower and soybeans, as it expected further damage from the recent dry and hot weather.
Crop prospects in the EU have taken on extra significance this year as Russia's invasion of Ukraine - a major wheat, corn and sunflower exporter - has disrupted Black Sea exports and raised uncertainty over Ukraine's harvest.
MARKET NEWS
The U.S. dollar steadied just below recent peaks on Wednesday, as investors waited to hear from the Federal Reserve and pondered whether weak U.S. data may slow the pace of rate hikes.
By: via Malaysian Palm Oil Council Russia
Malaysian Palm Oil Council Russia's Post
VEGOILS-Palm rises for fourth day tracking soy oil gains on weak U.S. output woes
JAKARTA, Aug 24 (Reuters) - Malaysia's benchmark palm oil futures rose for a fourth consecutive session on Wednesday, taking cues from gains in soy oil prices on concerns over weak U.S. output.
The benchmark palm oil contract FCPOc3 for November delivery on the Bursa Malaysia Derivatives Exchange rose 1.56% to 4,300 ringgit ($958.54) a tonne in early trade.
FUNDAMENTALS
Soyoil prices on the Chicago Board of Trade BOc2 were up 0.8%, while Dalian's soyoil contract DBYv1 gained 1.07% and its palm oil contract DCPv1 rose 1.10%.
Palm oil is affected by price movements in related oils, as they compete for a share in the global vegetable oils market.
Chicago grains futures extended gains in early trade, as a tour of key growing areas in the Midwest raised concerns that the size of the U.S. corn and soybeans crop will fall below expectations.
Rival Indonesia said India is committed to importing 2.6 million tonnes of palm oil products worth $3.16 billion, withtout providing details about the period for the sale.
Palm oil may test a resistance at 4,452 ringgit per tonne, a break above which could lead to a gain to 4,680 ringgit, Reuters technical analyst Wang Tao said.
MARKET NEWS
The dollar eased and yields at first fell on Tuesday, as data showing slower economic growth raised initial hopes the Federal Reserve will back off its aggressive hiking of interest rates at its central bank symposium at Jackson Hole, Wyoming on Friday.
Oil prices fell, taking a breather from a nearly 4% surge the previous day on receding fears of an imminent output cut by the Organization of the Petroleum Exporting Countries and allies, a group known as OPEC+.
By: via Malaysian Palm Oil Council Russia
JAKARTA, Aug 24 (Reuters) - Malaysia's benchmark palm oil futures rose for a fourth consecutive session on Wednesday, taking cues from gains in soy oil prices on concerns over weak U.S. output.
The benchmark palm oil contract FCPOc3 for November delivery on the Bursa Malaysia Derivatives Exchange rose 1.56% to 4,300 ringgit ($958.54) a tonne in early trade.
FUNDAMENTALS
Soyoil prices on the Chicago Board of Trade BOc2 were up 0.8%, while Dalian's soyoil contract DBYv1 gained 1.07% and its palm oil contract DCPv1 rose 1.10%.
Palm oil is affected by price movements in related oils, as they compete for a share in the global vegetable oils market.
Chicago grains futures extended gains in early trade, as a tour of key growing areas in the Midwest raised concerns that the size of the U.S. corn and soybeans crop will fall below expectations.
Rival Indonesia said India is committed to importing 2.6 million tonnes of palm oil products worth $3.16 billion, withtout providing details about the period for the sale.
Palm oil may test a resistance at 4,452 ringgit per tonne, a break above which could lead to a gain to 4,680 ringgit, Reuters technical analyst Wang Tao said.
MARKET NEWS
The dollar eased and yields at first fell on Tuesday, as data showing slower economic growth raised initial hopes the Federal Reserve will back off its aggressive hiking of interest rates at its central bank symposium at Jackson Hole, Wyoming on Friday.
Oil prices fell, taking a breather from a nearly 4% surge the previous day on receding fears of an imminent output cut by the Organization of the Petroleum Exporting Countries and allies, a group known as OPEC+.
By: via Malaysian Palm Oil Council Russia
Подписаться на:
Сообщения (Atom)