Hi traders,
The CBOT soyoil still in consolidation phase. Expecting the price go down to 2370 today due to weak fundamental in Asia trading hours and may bounce back at somewhere at 2390......
Just my 2 cents
Friday, June 18, 2010
Thursday, June 17, 2010
Overnight CBOT Soyoil Exceeded 38.22
Hi traders,
CBOT soyoil had reached 38.22 last night. It may spillover to palm oil BMD today if still above 38.00 during Asian trading hour. Please monitor your position carefully if you are holding SHORT.
Happy trading
CBOT soyoil had reached 38.22 last night. It may spillover to palm oil BMD today if still above 38.00 during Asian trading hour. Please monitor your position carefully if you are holding SHORT.
Happy trading
Wednesday, June 16, 2010
DJ Asian Crude Palm Oil Gains On Soyoil; Higher Output Caps Rise
JAKARTA (Dow Jones)--Crude palm oil futures on Malaysia's derivatives exchange ended higher Wednesday, tracking stronger soyoil futures in after-hours trade, but fears of rising production and sluggish exports kept a lid on the gains, trade participants said.
Soyoil's gains were the main factor keeping CPO in the black, and bearish fundamentals are likely to put prices under pressure for the rest of the week.
The new benchmark September contract on the Bursa Malaysia Derivatives ended MYR14 higher at MYR2,380 a metric ton, off its intraday high of MYR2,390.
Trade was thin as markets in Hong Kong, Taiwan and China are closed for a public holiday.
As trade ended on the BMD, Chicago Board of Trade July soyoil futures were up 17 points at 37.98 cents a pound in electronic trade.
Soyoil futures remained in positive territory during Asian trade, supporting CPO prices and reventing a dip into negative territory despite largely bearish market sentiment, with trade participants tipping prices to breach support at MYR2,360/ton and test MYR2,350/ton by the end of the week.
"Demand is likely going to continue to be weak as soyoil prices are either cheaper or around the same levels as palm oil's," said a Singapore-based trader. "This type of price scenario usually prompts buyers to switch to soyoil."
Soyoil usually traded at premiums of around $70/ton to $100/ton over palm oil until late last year.
Stocks in Malaysia will likely increase slightly at the end of this month from 1.56 million tons last month as production rises by 10% and exports decline, traders said.
In the cash market, palm olein for July delivery traded at $785/ton, on free-on-board basis from Malaysian ports, a Singapore-based broker said.
Cash CPO for prompt delivery was offered $30 lower at MYR2,500/ton.
Open interest on the BMD was 76,801 lots compared with 77,731 lots Tuesday. One lot is equal to 25 tons.
A total of 19,375 lots of CPO were traded on BMD versus 15,455 lots.
Closing BMD CPO futures prices in MYR/ton at 1000 GMT:
Month Close Previous Change High Low
Jul'10 2,464 2,439 Up 25 2,467 2,448
Aug'10 2,420 2,391 Up 29 2,423 2,395
Sep'10 2,380 2,366 Up 14 2,390 2,367
Oct'10 2,368 2,343 Up 25 2,370 2,352
-By Fawziah Selamat, Dow Jones Newswires; +62 21 3983 1277; fawziah.selamat@dowjones.com
(END) Dow Jones Newswires
06-16-10 0729ET
Copyright (c) 2010 Dow Jones & Company, Inc.
Soyoil's gains were the main factor keeping CPO in the black, and bearish fundamentals are likely to put prices under pressure for the rest of the week.
The new benchmark September contract on the Bursa Malaysia Derivatives ended MYR14 higher at MYR2,380 a metric ton, off its intraday high of MYR2,390.
Trade was thin as markets in Hong Kong, Taiwan and China are closed for a public holiday.
As trade ended on the BMD, Chicago Board of Trade July soyoil futures were up 17 points at 37.98 cents a pound in electronic trade.
Soyoil futures remained in positive territory during Asian trade, supporting CPO prices and reventing a dip into negative territory despite largely bearish market sentiment, with trade participants tipping prices to breach support at MYR2,360/ton and test MYR2,350/ton by the end of the week.
"Demand is likely going to continue to be weak as soyoil prices are either cheaper or around the same levels as palm oil's," said a Singapore-based trader. "This type of price scenario usually prompts buyers to switch to soyoil."
Soyoil usually traded at premiums of around $70/ton to $100/ton over palm oil until late last year.
Stocks in Malaysia will likely increase slightly at the end of this month from 1.56 million tons last month as production rises by 10% and exports decline, traders said.
In the cash market, palm olein for July delivery traded at $785/ton, on free-on-board basis from Malaysian ports, a Singapore-based broker said.
Cash CPO for prompt delivery was offered $30 lower at MYR2,500/ton.
Open interest on the BMD was 76,801 lots compared with 77,731 lots Tuesday. One lot is equal to 25 tons.
A total of 19,375 lots of CPO were traded on BMD versus 15,455 lots.
Closing BMD CPO futures prices in MYR/ton at 1000 GMT:
Month Close Previous Change High Low
Jul'10 2,464 2,439 Up 25 2,467 2,448
Aug'10 2,420 2,391 Up 29 2,423 2,395
Sep'10 2,380 2,366 Up 14 2,390 2,367
Oct'10 2,368 2,343 Up 25 2,370 2,352
-By Fawziah Selamat, Dow Jones Newswires; +62 21 3983 1277; fawziah.selamat@dowjones.com
(END) Dow Jones Newswires
06-16-10 0729ET
Copyright (c) 2010 Dow Jones & Company, Inc.
DJ MARKET TALK: BMD CPO Futures Off Highs Midday; May Fall Later
[Dow Jones] BMD CPO futures off highs midday; weak technical rebound. "Despite the rally in commodity markets, there's more downside in the making," says senior manager at Malaysia-based trading firm. Warns higher output cycle, weak export demand damp sentiment. Kuala Lumpur-based analyst tips trade in MYR2,350-MYR2,380/ton range rest of day. New benchmark September contract up MYR15 at MYR2,381/ton, off intraday high of MYR2,387/ton. (shie-lynn.lim@dowjones.com)
Call us in Kuala Lumpur: +(603) 2026 1233
(END) Dow Jones Newswires
06-16-10 0036ET
Copyright (c) 2010 Dow Jones & Company, Inc.
Call us in Kuala Lumpur: +(603) 2026 1233
(END) Dow Jones Newswires
06-16-10 0036ET
Copyright (c) 2010 Dow Jones & Company, Inc.
[DJ]DJ MARKET TALK: BMD CPO Futures Rise; Demand Outlook Limits Upside
[Dow Jones] New benchmark BMD September CPO futures trading higher. Crude, soyoil's rise spur buying interest in early trade, Kuala Lumpur-based broker says. But sluggish export demand to cap. "While there's been inquiries (from Middle East buyers), firm bookings have been few...Some are waiting for a further drop in prices before securing bookings for the festive (Ramadan) season," says exporter in Johor who ships palm oil to Middle East. September contract trading MYR9 higher at MYR2,375/ton.
(shie-lynn.lim@dowjones.com)
Call us in Kuala Lumpur: +(603) 2026 1233
(END) Dow Jones Newswires
06-15-10 2322ET
Copyright (c) 2010 Dow Jones & Company, Inc.
(shie-lynn.lim@dowjones.com)
Call us in Kuala Lumpur: +(603) 2026 1233
(END) Dow Jones Newswires
06-15-10 2322ET
Copyright (c) 2010 Dow Jones & Company, Inc.
[DJ]DJ MARKET TALK: BMD CPO Futures Likely To Open MYR5-MYR15 Up
[Dow Jones] BMD CPO futures to open MYR5-MYR15 higher; get boost from crude's rally, technical rebound after trading yesterday to lowest level in seven months. Prices tipped to move in MYR2,370-MYR2,400/ton range today, says trading executive at Kuala Lumpur-based brokerage. Says upside limited on ample stocks in China; India's normal monsoon may boost domestic crops, reduce vegetable oil imports. Benchmark August contract ended MYR19 lower at MYR2,391/ton after tumbling to MYR2,378/ton, lowest level since Nov. 20. (shie-lynn.lim@dowjones.com)
Call us in Kuala Lumpur: +(603) 2026 1233
(END) Dow Jones Newswires
06-15-10 2204ET
Copyright (c) 2010 Dow Jones & Company, Inc.
Call us in Kuala Lumpur: +(603) 2026 1233
(END) Dow Jones Newswires
06-15-10 2204ET
Copyright (c) 2010 Dow Jones & Company, Inc.
Tuesday, June 15, 2010
[DJ]DJ Asian Crude Palm Oil Ends Down; Export Data, Rising Stocks
KUALA LUMPUR (Dow Jones)--Crude palm oil futures on Malaysia's derivatives exchange ended lower Tuesday, with investors liquidating positions following disappointing export estimates.
A brief pullback in crude oil prices, which traded on both sides in Asia, also weighed on palm oil, trade participants said.
Listless, sideways trade is likely Wednesday as markets in Hong Kong, Taiwan and China are closed for a public holiday, and bearish fundamentals are likely to keep prices subdued for the next few weeks.
The benchmark August contract on the Bursa Malaysia Derivatives ended MYR19 lower at MYR2,391 a metric ton, after falling as much as 1.3% to MYR2,378/ton, its lowest level in seven months.
Cargo surveyor Intertek Agri Services estimated palm exports for the June 1-15 period at 600,921 tons, up only 1.5% from a month earlier, while a second surveyor, SGS (Malaysia) Bhd., put the figure at 608,324 tons, down 2%.
"The numbers are a disappointment. With palm inventory levels rising in Indonesia and Malaysia, and large edible oil stocks at ports in China and India, prices are likely to trade lower for the rest of the month," a senior executive at a Malaysia-based trading company said.
A grower at an major plantation company in Indonesia said the country's palm inventories at the end of this month will likely rise to around 1.75 million tons from about 1.65 million-1.70 million tons at the end of last month.
Indonesia doesn't issue official monthly data on palm oil production and stocks.
Stocks in Malaysia will likely increase slightly from 1.56 million tons at the end of last month, an analyst in Kuala Lumpur said.
In the cash market, palm olein for July traded at $780/ton, free-on-board Malaysian ports, while January/February/March olein changed hands at $747.50/ton, a Singapore-based broker said.
Cash CPO for prompt delivery was offered steady at MYR2,530/ton.
CME Group's dollar-based CPO futures for September were offered $1.25 lower at $730.00/ton around 1023 GMT, with no lots traded.
Rupiah-denominated August CPO futures on the Indonesia Commodity and Derivative Exchange ended 0.5% lower at IDR6,485 a kilogram, with six lots traded. One lot is equivalent to 10 tons.
The September contract was trading 0.4% lower at IDR6,430/kg, with 12 lots done.
Open interest on the BMD was 77,731 lots, compared with 78,541 lots Monday. One lot is equal to 25 tons.
A total of 15,455 lots of CPO were traded on BMD versus 11,128 lots Monday.
Closing BMD CPO futures prices in MYR/ton at 1000 GMT:
Month Close Previous Change High Low
Jun'10 2,548 2,549 Down 1 2,549 2,548
Jul'10 2,439 2,455 Down 16 2,462 2,430
Aug'10 2,391 2,410 Down 19 2,415 2,378
Sep'10 2,366 2,384 Down 18 2,387 2,352
-By Shie-Lynn Lim, Dow Jones Newswires; +603 2026 1233; shie-lynn.lim@dowjones.com
(END) Dow Jones Newswires
06-15-10 0713ET
Copyright (c) 2010 Dow Jones & Company, Inc.
A brief pullback in crude oil prices, which traded on both sides in Asia, also weighed on palm oil, trade participants said.
Listless, sideways trade is likely Wednesday as markets in Hong Kong, Taiwan and China are closed for a public holiday, and bearish fundamentals are likely to keep prices subdued for the next few weeks.
The benchmark August contract on the Bursa Malaysia Derivatives ended MYR19 lower at MYR2,391 a metric ton, after falling as much as 1.3% to MYR2,378/ton, its lowest level in seven months.
Cargo surveyor Intertek Agri Services estimated palm exports for the June 1-15 period at 600,921 tons, up only 1.5% from a month earlier, while a second surveyor, SGS (Malaysia) Bhd., put the figure at 608,324 tons, down 2%.
"The numbers are a disappointment. With palm inventory levels rising in Indonesia and Malaysia, and large edible oil stocks at ports in China and India, prices are likely to trade lower for the rest of the month," a senior executive at a Malaysia-based trading company said.
A grower at an major plantation company in Indonesia said the country's palm inventories at the end of this month will likely rise to around 1.75 million tons from about 1.65 million-1.70 million tons at the end of last month.
Indonesia doesn't issue official monthly data on palm oil production and stocks.
Stocks in Malaysia will likely increase slightly from 1.56 million tons at the end of last month, an analyst in Kuala Lumpur said.
In the cash market, palm olein for July traded at $780/ton, free-on-board Malaysian ports, while January/February/March olein changed hands at $747.50/ton, a Singapore-based broker said.
Cash CPO for prompt delivery was offered steady at MYR2,530/ton.
CME Group's dollar-based CPO futures for September were offered $1.25 lower at $730.00/ton around 1023 GMT, with no lots traded.
Rupiah-denominated August CPO futures on the Indonesia Commodity and Derivative Exchange ended 0.5% lower at IDR6,485 a kilogram, with six lots traded. One lot is equivalent to 10 tons.
The September contract was trading 0.4% lower at IDR6,430/kg, with 12 lots done.
Open interest on the BMD was 77,731 lots, compared with 78,541 lots Monday. One lot is equal to 25 tons.
A total of 15,455 lots of CPO were traded on BMD versus 11,128 lots Monday.
Closing BMD CPO futures prices in MYR/ton at 1000 GMT:
Month Close Previous Change High Low
Jun'10 2,548 2,549 Down 1 2,549 2,548
Jul'10 2,439 2,455 Down 16 2,462 2,430
Aug'10 2,391 2,410 Down 19 2,415 2,378
Sep'10 2,366 2,384 Down 18 2,387 2,352
-By Shie-Lynn Lim, Dow Jones Newswires; +603 2026 1233; shie-lynn.lim@dowjones.com
(END) Dow Jones Newswires
06-15-10 0713ET
Copyright (c) 2010 Dow Jones & Company, Inc.
[DJ]DJ Malaysia June 1-15 Palm Oil Exports 600,921 Tons, +1.5% -Intertek
KUALA LUMPUR (Dow Jones)--Malaysia's palm oil exports rose 1.5% during the June 1-15 period to 600,921 metric tons, cargo surveyor Intertek Agri Services said Tuesday.
China was the biggest buyer of Malaysian palm oil, followed by the E.U. and the Asia Oceania region, buying 206,450 tons, 129,776 tons and 79,744 tons respectively.
Intertek put exports at 591,887 tons for the same period in May.
Another surveyor, SGS (Malaysia) Bhd., is expected to issue its estimate later in the day.
-By Shie-Lynn Lim, Dow Jones Newswires; +603 2026 1233; shie-lynn.lim@dowjones.com
(END) Dow Jones Newswires
06-14-10 2227ET
Copyright (c) 2010 Dow Jones & Company, Inc.
China was the biggest buyer of Malaysian palm oil, followed by the E.U. and the Asia Oceania region, buying 206,450 tons, 129,776 tons and 79,744 tons respectively.
Intertek put exports at 591,887 tons for the same period in May.
Another surveyor, SGS (Malaysia) Bhd., is expected to issue its estimate later in the day.
-By Shie-Lynn Lim, Dow Jones Newswires; +603 2026 1233; shie-lynn.lim@dowjones.com
(END) Dow Jones Newswires
06-14-10 2227ET
Copyright (c) 2010 Dow Jones & Company, Inc.
[DJ]DJ MARKET TALK: CBOT Soyoil Positive For CPO Futures
[Dow Jones] Overnight rise in soyoil futures on prospects for increased soyoil demand; NOPA lower stocks may mean spillover buying sentiment for CPO futures, say traders. July soyoil finished up 49 points on CBOT at 37.39 cents/pound. (shie-lynn.lim@dowjones.com)
Call us in Kuala Lumpur: +(603) 2026 1233
(END) Dow Jones Newswires
06-14-10 2211ET
Copyright (c) 2010 Dow Jones & Company, Inc.
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(END) Dow Jones Newswires
06-14-10 2211ET
Copyright (c) 2010 Dow Jones & Company, Inc.
[DJ]DJ MARKET TALK: BMD CPO Futures To Open Up MYR5-MYR10
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(END) Dow Jones Newswires
06-14-10 2206ET
Copyright (c) 2010 Dow Jones & Company, Inc.
Monday, June 14, 2010
[DJ]DJ Asian Crude Palm Oil Ends Up On Expected Higher Malaysia Exports
KUALA LUMPUR (Dow Jones)--Crude palm oil futures ended higher on Malaysia's derivatives exchange Monday as market participants expect estimates of Malaysian exports in the first half of June to rise compared with a month ago and in line with other commodity markets.
Malaysia's palm oil exports will be around 650,000-690,000 metric tons in June 1-15 period, according to traders' estimates. That would be higher than the May 1-15 numbers issued a month ago by cargo surveyors Intertek Agri Services and SGS (Malaysia) Bhd..
CPO for August delivery traded at the Bursa Malaysia Derivatives ended 1% higher at MYR2,410/ton after dipping to the benchmark contract's lowest level this year on Friday, at MYR2,396/ton.
Traders expected palm oil prices to stage a small rebound on technical factors Monday, limited by rising inventory levels in Malaysia and Indonesia, both major producers.
Rising inventories and higher CPO output for June in both countries could pressure prices in the next few weeks, they said.
"The much-touted heavy purchases by major buyers for July/August/September hasn't come about so far," said a senior trading executive in Singapore.
Palm olein, which of late has been trading a par with, or at a slight premium to, crude soyoil is losing market share to its rival.
An analyst at a Kuala Lumpur-based brokerage said demand could pick up if palm olein prices fall enough to put them at a wide discount-- around $60-$100/ton--to soyoil, which was the case until early this year.
In the cash market, palm olein for July at $780/ton, free-on-board Malaysian ports, a Singapore-based cash market broker said.
Cash CPO for prompt delivery was offered MYR5 higher at MYR2,540/ton.
CME Group's dollar-based CPO futures for September were offered $1.25 higher at $724.25/ton around 1001 GMT, with no lots traded.
August rupiah-denominated CPO futures on the Indonesia Commodity and Derivative Exchange ended 0.2% higher at IDR6,515 a kilogram with 6 lots traded. One lot is equivalent to 10 tons. The September contract was trading 0.5% higher IDR6,455/kg with 231 lots done.
Open interest on the BMD was 78,541 lots, versus 77,512 lots Friday. One lot is equivalent to 25 tons.
A total of 11,128 lots of CPO were traded versus 19,392 lots Friday.
Closing BMD CPO futures prices in MYR/ton at 1000 GMT:
Malaysia's palm oil exports will be around 650,000-690,000 metric tons in June 1-15 period, according to traders' estimates. That would be higher than the May 1-15 numbers issued a month ago by cargo surveyors Intertek Agri Services and SGS (Malaysia) Bhd..
CPO for August delivery traded at the Bursa Malaysia Derivatives ended 1% higher at MYR2,410/ton after dipping to the benchmark contract's lowest level this year on Friday, at MYR2,396/ton.
Traders expected palm oil prices to stage a small rebound on technical factors Monday, limited by rising inventory levels in Malaysia and Indonesia, both major producers.
Rising inventories and higher CPO output for June in both countries could pressure prices in the next few weeks, they said.
"The much-touted heavy purchases by major buyers for July/August/September hasn't come about so far," said a senior trading executive in Singapore.
Palm olein, which of late has been trading a par with, or at a slight premium to, crude soyoil is losing market share to its rival.
An analyst at a Kuala Lumpur-based brokerage said demand could pick up if palm olein prices fall enough to put them at a wide discount-- around $60-$100/ton--to soyoil, which was the case until early this year.
In the cash market, palm olein for July at $780/ton, free-on-board Malaysian ports, a Singapore-based cash market broker said.
Cash CPO for prompt delivery was offered MYR5 higher at MYR2,540/ton.
CME Group's dollar-based CPO futures for September were offered $1.25 higher at $724.25/ton around 1001 GMT, with no lots traded.
August rupiah-denominated CPO futures on the Indonesia Commodity and Derivative Exchange ended 0.2% higher at IDR6,515 a kilogram with 6 lots traded. One lot is equivalent to 10 tons. The September contract was trading 0.5% higher IDR6,455/kg with 231 lots done.
Open interest on the BMD was 78,541 lots, versus 77,512 lots Friday. One lot is equivalent to 25 tons.
A total of 11,128 lots of CPO were traded versus 19,392 lots Friday.
Closing BMD CPO futures prices in MYR/ton at 1000 GMT:
Month Close Previous Change High Low
Jun'10 2,549 2,525 Up 24 2,550 2,549
Jul'10 2,455 2,430 Up 25 2,459 2,442
Aug'10 2,410 2,386 Up 24 2,410 2,390
Sep'10 2,384 2,360 Up 24 2,384 2,367
By Shie-Lynn Lim, Dow Jones Newswires; +603 2026 1233; shie-lynn.lim@dowjones.com
(END) Dow Jones Newswires
06-14-10 0658ET
Copyright (c) 2010 Dow Jones & Company, Inc.
DJ MARKET TALK: BMD CPO Futures Up; Likely Higher June 1-15 Exports
[Dow Jones] BMD CPO futures rise, with expectations of higher June 1-15 exports supporting gains, traders say. Kuala Lumpur-based senior trading executive tips exports up 11%-17% on month around 690,000 tons ahead of surveyors Intertek, SGS export estimates Tuesday. Benchmark August contract up MYR10 at MYR2,396/ton. (shie-lynn.lim@dowjones.com)
Call us in Kuala Lumpur: +(603) 2026 1233
(END) Dow Jones Newswires
06-14-10 0459ET
Copyright (c) 2010 Dow Jones & Company, Inc.
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