MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch March 13
VEGOILS-Market Factors to Watch March 13
13/03/2015 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures inched down 1.4 percent on Thursday, reversing gains clocked in the previous session to fall six out of seven days, as the ringgit advanced and investors fretted about waning demand for the tropical oil.
* U.S. wheat futures rose for a fifth straight session on Thursday, hitting a 1-1/2-week high on short-covering and worries over potential yield losses due to poor weather in parts of the U.S. crop belt, analysts said.
* Global oil prices fell on Thursday on estimates showing another big supply build at the delivery point for the U.S. crude contract, with trade volatile ahead of the expiry of the front-month in benchmark Brent oil.
MARKET NEWS
* Stocks on major markets rose on Thursday as the dollar softened the most in a month against major currencies after surprisingly weak U.S. data.
RELATED
> Australia aims to regain share in Southeast Asian wheat market -industry source
> Indonesia palm oil battle pits farmers against big plantations
> Brazil soy exports to rise after truck strikes -analyst
> Brazil's 2015 coffee crop seen 40.3 mln-43.3 mln bags
> Strawberries top list of pesticide-laced food -EU repor
> Robusta coffee at 13-month low, NY cocoa falls for 7th day
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's March 1-15 palm oil exports on March 16.
Palm, soy and crude oil prices at 0452 GMT
Contract Month Last Change Low High Volume
MY PALM OIL FEB5 2240 -24.00 2230 2254 29
MY PALM OIL MAR5 2228 -19.00 2220 2249 388
MY PALM OIL APR5 2210 -20.00 2202 2222 7986
CHINA PALM OLEIN MAY5 4846 -22.00 4844 4874 180294
CHINA SOYOIL MAY5 5514 -52.00 5508 5562 240078
CBOT SOY OIL MAR5 31.48 -3.50 31.47 31.57 2367
INDIA PALM OIL JAN5 434.90 -3.50 434.00 439.50 488
INDIA SOYOIL FEB5 616.00 -9.00 615.70 624.80 50145
NYMEX CRUDE MAR5 45.06 -0.53 44.35 45.35 25835
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
India soy oil in Indian rupee per 10 kg
Crude in U.S. dollars per barrel
FUNDAMENTALS
* Malaysian palm oil futures inched down 1.4 percent on Thursday, reversing gains clocked in the previous session to fall six out of seven days, as the ringgit advanced and investors fretted about waning demand for the tropical oil.
* U.S. wheat futures rose for a fifth straight session on Thursday, hitting a 1-1/2-week high on short-covering and worries over potential yield losses due to poor weather in parts of the U.S. crop belt, analysts said.
* Global oil prices fell on Thursday on estimates showing another big supply build at the delivery point for the U.S. crude contract, with trade volatile ahead of the expiry of the front-month in benchmark Brent oil.
MARKET NEWS
* Stocks on major markets rose on Thursday as the dollar softened the most in a month against major currencies after surprisingly weak U.S. data.
RELATED
> Australia aims to regain share in Southeast Asian wheat market -industry source
> Indonesia palm oil battle pits farmers against big plantations
> Brazil soy exports to rise after truck strikes -analyst
> Brazil's 2015 coffee crop seen 40.3 mln-43.3 mln bags
> Strawberries top list of pesticide-laced food -EU repor
> Robusta coffee at 13-month low, NY cocoa falls for 7th day
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's March 1-15 palm oil exports on March 16.
Palm, soy and crude oil prices at 0452 GMT
Contract Month Last Change Low High Volume
MY PALM OIL FEB5 2240 -24.00 2230 2254 29
MY PALM OIL MAR5 2228 -19.00 2220 2249 388
MY PALM OIL APR5 2210 -20.00 2202 2222 7986
CHINA PALM OLEIN MAY5 4846 -22.00 4844 4874 180294
CHINA SOYOIL MAY5 5514 -52.00 5508 5562 240078
CBOT SOY OIL MAR5 31.48 -3.50 31.47 31.57 2367
INDIA PALM OIL JAN5 434.90 -3.50 434.00 439.50 488
INDIA SOYOIL FEB5 616.00 -9.00 615.70 624.80 50145
NYMEX CRUDE MAR5 45.06 -0.53 44.35 45.35 25835
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
India soy oil in Indian rupee per 10 kg
Crude in U.S. dollars per barrel