MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch April 2
VEGOILS-Market Factors to Watch April 2
02/04/2014 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures ended lower on Tuesday, reversing gains in the morning sesssion to a more than one-month low dragged by a lagging demand for the tropical oil and a firm ringgit.
* U.S. soybean futures rose 1.4 percent on Tuesday, with old-crop months hitting fresh contract highs on follow-through buying after a government report confirmed that the tight domestic supply situation is likely to persist until
harvest.
* Brent crude oil futures fell in a steady slide on Tuesday to settle at nearly a five month-low as poor manufacturing data from China and Europe weighed. U.S. oil futures also fell as analysts looked toward another build in stocks Wednesday.
MARKET NEWS
* Asian share markets were looking to extend their recent rally on Wednesday as investors chose to accentuate the positive in a mixed bag of global economic data, pressuring safe havens such as the yen and government bonds.
* Commodities had the best quarter in 18 months as trading for March ended on Monday, with weather and economic growth likely to determine if gas, gold, grains, lean hogs and coffee continue going higher and draw money into the space.
RELATED
> Taiwan Sugar Corp. buys U.S. corn and soybeans- trade
> Indian soybeans hit 19-1/2 month high on thin supplies-dealers
DATA/EVENTS
> nil
Palm, soy and crude oil prices at 0026 GMT
Contract Month Last Change Low High Volume
MY PALM OIL APR4 0 +0.00 0 0 0
MY PALM OIL MAY4 0 +0.00 0 0 0
MY PALM OIL JUN4 0 +0.00 0 0 0
CHINA PALM OLEIN SEP4 0 +0.00 0 0 0
CHINA SOYOIL SEP4 0 +0.00 0 0 0
CBOT SOY OIL MAY4 41.53 +0.13 41.40 41.55 572
NYMEX CRUDE MAY4 99.68 -0.06 99.50 99.73 1308
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
Crude in U.S. dollars per barrel
FUNDAMENTALS
* Malaysian palm oil futures ended lower on Tuesday, reversing gains in the morning sesssion to a more than one-month low dragged by a lagging demand for the tropical oil and a firm ringgit.
* U.S. soybean futures rose 1.4 percent on Tuesday, with old-crop months hitting fresh contract highs on follow-through buying after a government report confirmed that the tight domestic supply situation is likely to persist until
harvest.
* Brent crude oil futures fell in a steady slide on Tuesday to settle at nearly a five month-low as poor manufacturing data from China and Europe weighed. U.S. oil futures also fell as analysts looked toward another build in stocks Wednesday.
MARKET NEWS
* Asian share markets were looking to extend their recent rally on Wednesday as investors chose to accentuate the positive in a mixed bag of global economic data, pressuring safe havens such as the yen and government bonds.
* Commodities had the best quarter in 18 months as trading for March ended on Monday, with weather and economic growth likely to determine if gas, gold, grains, lean hogs and coffee continue going higher and draw money into the space.
RELATED
> Taiwan Sugar Corp. buys U.S. corn and soybeans- trade
> Indian soybeans hit 19-1/2 month high on thin supplies-dealers
DATA/EVENTS
> nil
Palm, soy and crude oil prices at 0026 GMT
Contract Month Last Change Low High Volume
MY PALM OIL APR4 0 +0.00 0 0 0
MY PALM OIL MAY4 0 +0.00 0 0 0
MY PALM OIL JUN4 0 +0.00 0 0 0
CHINA PALM OLEIN SEP4 0 +0.00 0 0 0
CHINA SOYOIL SEP4 0 +0.00 0 0 0
CBOT SOY OIL MAY4 41.53 +0.13 41.40 41.55 572
NYMEX CRUDE MAY4 99.68 -0.06 99.50 99.73 1308
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
Crude in U.S. dollars per barrel