MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch April 8
VEGOILS-Market Factors to Watch April 8
08/04/2014 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures inched down in thin trade on Monday as a stronger local currency stemmed buying interest for the ringgit-denominated feedstock, although anticipation of tighter inventories capped losses.
* U.S. soybean futures slid on Monday as increased imports of the oilseed from South America were expected to alleviate tight supplies in the United States, the world's top producer of the crop.
* U.S. oil futures dipped below $100 on Monday, falling more than a dollar a barrel after stock markets tumbled, with Brent crude prices losing even more on the prospect of additional supplies from Libya.
MARKET NEWS
* Wall Street stocks slumped on Monday, extending a broad retreat in global equities markets from a six-year high touched last week, while U.S. Treasuries' yields moved lower.
RELATED
> Indi oilmeal exports drop for 2nd year, SE Asian demand hurts
> Strategie Grains raises EU rapeseed crop f'cast to 21.55 mln T
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 2351 GMT
Contract Month Last Change Low High Volume
CBOT SOY OIL MAY4 41.43 +0.00 0.00 0.00 0
NYMEX CRUDE MAY4 100.77 +0.33 100.68 100.82 589
CBOT soy oil in U.S. cents per pound
Crude in U.S. dollars per barrel
FUNDAMENTALS
* Malaysian palm oil futures inched down in thin trade on Monday as a stronger local currency stemmed buying interest for the ringgit-denominated feedstock, although anticipation of tighter inventories capped losses.
* U.S. soybean futures slid on Monday as increased imports of the oilseed from South America were expected to alleviate tight supplies in the United States, the world's top producer of the crop.
* U.S. oil futures dipped below $100 on Monday, falling more than a dollar a barrel after stock markets tumbled, with Brent crude prices losing even more on the prospect of additional supplies from Libya.
MARKET NEWS
* Wall Street stocks slumped on Monday, extending a broad retreat in global equities markets from a six-year high touched last week, while U.S. Treasuries' yields moved lower.
RELATED
> Indi oilmeal exports drop for 2nd year, SE Asian demand hurts
> Strategie Grains raises EU rapeseed crop f'cast to 21.55 mln T
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 2351 GMT
Contract Month Last Change Low High Volume
CBOT SOY OIL MAY4 41.43 +0.00 0.00 0.00 0
NYMEX CRUDE MAY4 100.77 +0.33 100.68 100.82 589
CBOT soy oil in U.S. cents per pound
Crude in U.S. dollars per barrel