MARKET DEVELOPMENT
VEGOILS-Market Factors To Watch April 7
VEGOILS-Market Factors To Watch April 7
07/04/2014 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and
other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures ended higher on Friday, recouping losses, to post their first weekly gain since mid-March, helped by optimism that a recovery in demand and tighter stocks in the world's No.2 producer will underpin prices.
* Soybeans were mixed, with old-crop months steady to weak and new-crop months firm as traders unwound bull spreads amid easing concerns about the tight U.S. supply situation.
* U.S. crude oil rose on Friday as data showed strong jobs growth in the United States and Brent crude followed suit as investors cast doubt on reports Libya's oil ports were about to reopen.
MARKET NEWS
* A slide in biotech stocks pulled Wall Street and a measure of global equities lower on Friday despite a solid U.S. jobs report that weakened the dollar on views that the Federal Reserve will keep scaling back its stimulus.
RELATED
> Big Chinese soy project in Brazil: just an empty field
> Malaysia's March palm oil stocks seen hitting 3-year low
> Indonesia palm refining capacity to rise 50 pct
> China's grain trader deals pose a threat to 'ABCDs'
DATA/EVENTS
> Industry regulator the Malaysian Palm Oil Board (MPOB) will release data on Malaysia's end-March palm oil stocks, exports and production on April 10.
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance will release Malaysia's April 1-10 palm oil export data on April 10.
Soy and crude oil prices at 2348 GMT
Contract Month Last Change Low High Volume
CBOT SOY OIL MAY4 41.67 +0.00 0.00 0.00 0
NYMEX CRUDE MAY4 101.05 -0.09 100.89 101.08 1400
CBOT soy oil in U.S. cents per pound
Crude in U.S. dollars per barrel
other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures ended higher on Friday, recouping losses, to post their first weekly gain since mid-March, helped by optimism that a recovery in demand and tighter stocks in the world's No.2 producer will underpin prices.
* Soybeans were mixed, with old-crop months steady to weak and new-crop months firm as traders unwound bull spreads amid easing concerns about the tight U.S. supply situation.
* U.S. crude oil rose on Friday as data showed strong jobs growth in the United States and Brent crude followed suit as investors cast doubt on reports Libya's oil ports were about to reopen.
MARKET NEWS
* A slide in biotech stocks pulled Wall Street and a measure of global equities lower on Friday despite a solid U.S. jobs report that weakened the dollar on views that the Federal Reserve will keep scaling back its stimulus.
RELATED
> Big Chinese soy project in Brazil: just an empty field
> Malaysia's March palm oil stocks seen hitting 3-year low
> Indonesia palm refining capacity to rise 50 pct
> China's grain trader deals pose a threat to 'ABCDs'
DATA/EVENTS
> Industry regulator the Malaysian Palm Oil Board (MPOB) will release data on Malaysia's end-March palm oil stocks, exports and production on April 10.
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance will release Malaysia's April 1-10 palm oil export data on April 10.
Soy and crude oil prices at 2348 GMT
Contract Month Last Change Low High Volume
CBOT SOY OIL MAY4 41.67 +0.00 0.00 0.00 0
NYMEX CRUDE MAY4 101.05 -0.09 100.89 101.08 1400
CBOT soy oil in U.S. cents per pound
Crude in U.S. dollars per barrel