MARKET DEVELOPMENT
Vegoils: Market Factors to Watch Friday March 20
Vegoils: Market Factors to Watch Friday March 20
20/03/2015 (The Star) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Friday March 20.
FUNDAMENTALS
* Malaysian palm oil futures edged further away from seven-week lows on Thursday as the U.S. dollar's slide inspired a rally in overseas vegetable oil markets.
* U.S. corn and soybean futures fell on Thursday, pressured by strength in the dollar that threatened to further chill already cool demand for U.S. exports, traders said.
* Oil prices tumbled on Thursday as a rebounding dollar and Kuwait's stance that OPEC had no choice but to keep producing in an oversupplied market undercut the previous day's rally.
MARKET NEWS
* U.S. stocks ended mostly lower on Thursday while the dollar resumed its upward trend in a broad rally as investors resumed a bullish stance on the greenback.
RELATED
> U.S. Gulf soybean costs surge as flooded Ohio River impedes barges
> U.S. spring planting stalled in South but Corn Belt set for early start
> Flooded Argentine soy fields helped by dry, hot weather -exchange
> No relief in sight for Western drought in NOAA spring outlook
> S.Korea's Harim group to expand bulk carrier Pan Ocean by trading grains -chairman
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 0011 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 4750 +32.00 4696 4756 282724
CHINA SOYOIL SEP5 5448 +14.00 5408 5456 248614
CBOT SOY OIL MAY5 30.51 -3.10 30.47 30.68 840
INDIA PALM OIL MAR5 438.80 -3.10 438.10 443.40 603
INDIA SOYOIL APR5 577.00 -2.05 576.10 582.60 28890
NYMEX CRUDE APR5 43.99 +0.03 43.72 44.01 120
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 edged further away from seven-week lows on Thursday as the U.S. dollar's slide inspired a rally in overseas vegetable oil markets.
* U.S. corn and soybean futures fell on Thursday, pressured by strength in the dollar that threatened to further chill already cool demand for U.S. exports, traders said.
* Oil prices tumbled on Thursday as a rebounding dollar and Kuwait's stance that OPEC had no choice but to keep producing in an oversupplied market undercut the previous day's rally.
MARKET NEWS
* U.S. stocks ended mostly lower on Thursday while the dollar resumed its upward trend in a broad rally as investors resumed a bullish stance on the greenback.
RELATED
> U.S. Gulf soybean costs surge as flooded Ohio River impedes barges
> U.S. spring planting stalled in South but Corn Belt set for early start
> Flooded Argentine soy fields helped by dry, hot weather -exchange
> No relief in sight for Western drought in NOAA spring outlook
> S.Korea's Harim group to expand bulk carrier Pan Ocean by trading grains -chairman
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 0011 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 4750 +32.00 4696 4756 282724
CHINA SOYOIL SEP5 5448 +14.00 5408 5456 248614
CBOT SOY OIL MAY5 30.51 -3.10 30.47 30.68 840
INDIA PALM OIL MAR5 438.80 -3.10 438.10 443.40 603
INDIA SOYOIL APR5 577.00 -2.05 576.10 582.60 28890
NYMEX CRUDE APR5 43.99 +0.03 43.72 44.01 120
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