MARKET DEVELOPMENT
Vegoils: Market Factors to Watch on Thursday March 19
Vegoils: Market Factors to Watch on Thursday March 19
19/03/2015 (The Star) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Thursday March 19.
FUNDAMENTALS
* Malaysian palm oil futures rallied from a near seven-week low on Wednesday in a technical correction to end higher, though traders said weaker crude oil and soy prices would cap gains.
* U.S. soybean, wheat and corn futures rose on Wednesday, with the Federal Reserve's announcement that it will be less patient in normalizing monetary policy jolting the market to session highs late in the trading day.
* Oil prices jumped as much as 6 percent on Wednesday as the dollar fell after the Federal Reserve indicated it preferred a more gradual path to normalizing U.S. interest rates despite being open to the first rate hike in almost a decade.
MARKET NEWS
* The dollar nursed punishing losses in Asia on Thursday after investors priced in a later start and a slower pace for future U.S rate rises, slashing Treasury yields and firing up Wall Street stocks.
RELATED
> Record U.S. soy acres planned in 2015, corn to dip -Farm Futures
> Indonesia palm exports hit 5-month low, to recover as China buys -industry
> Russia's AgMin says may raise 2015 grain crop forecast - RIA
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's March 1-20 palm oil exports on March 20.
Palm, soy and crude oil prices at 0014 GMT
Contract Month Last Change Low High Volume
MY PALM OIL APR5 0 +0.00 0 0 0
MY PALM OIL MAY5 0 +0.00 0 0 0
MY PALM OIL JUN5 0 +0.00 0 0 0
CHINA PALM OLEIN SEP5 4688 +88.00 4652 4688 264236
CHINA SOYOIL SEP5 5434 +76.00 5384 5434 295204
CBOT SOY OIL MAY5 30.80 +2.70 30.67 30.86 1943
INDIA PALM OIL MAR5 442.10 +2.70 436.80 445.90 1262
INDIA SOYOIL APR5 579.20 +2.25 571.80 581.30 53965
NYMEX CRUDE APR5 44.56 -0.10 44.49 44.71 1142
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 rallied from a near seven-week low on Wednesday in a technical correction to end higher, though traders said weaker crude oil and soy prices would cap gains.
* U.S. soybean, wheat and corn futures rose on Wednesday, with the Federal Reserve's announcement that it will be less patient in normalizing monetary policy jolting the market to session highs late in the trading day.
* Oil prices jumped as much as 6 percent on Wednesday as the dollar fell after the Federal Reserve indicated it preferred a more gradual path to normalizing U.S. interest rates despite being open to the first rate hike in almost a decade.
MARKET NEWS
* The dollar nursed punishing losses in Asia on Thursday after investors priced in a later start and a slower pace for future U.S rate rises, slashing Treasury yields and firing up Wall Street stocks.
RELATED
> Record U.S. soy acres planned in 2015, corn to dip -Farm Futures
> Indonesia palm exports hit 5-month low, to recover as China buys -industry
> Russia's AgMin says may raise 2015 grain crop forecast - RIA
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's March 1-20 palm oil exports on March 20.
Palm, soy and crude oil prices at 0014 GMT
Contract Month Last Change Low High Volume
MY PALM OIL APR5 0 +0.00 0 0 0
MY PALM OIL MAY5 0 +0.00 0 0 0
MY PALM OIL JUN5 0 +0.00 0 0 0
CHINA PALM OLEIN SEP5 4688 +88.00 4652 4688 264236
CHINA SOYOIL SEP5 5434 +76.00 5384 5434 295204
CBOT SOY OIL MAY5 30.80 +2.70 30.67 30.86 1943
INDIA PALM OIL MAR5 442.10 +2.70 436.80 445.90 1262
INDIA SOYOIL APR5 579.20 +2.25 571.80 581.30 53965
NYMEX CRUDE APR5 44.56 -0.10 44.49 44.71 1142
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