MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch March 23
VEGOILS-Market Factors to Watch March 23
23/03/2015 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures dropped on Friday as weak export figures worried traders, but the soft dollar helped to limit losses.
* U.S. corn, soybeans and wheat futures rallied on Friday as investors used a sharp drop in the dollar as an excuse to cover short positions ahead of the weekend, traders said.
* Oil prices jumped on Friday with U.S. crude up 4 percent after the dollar fell on interest-rate uncertainty, lifting demand for dollar-denominated commodities from holders of other currencies.
MARKET NEWS
* The U.S. dollar fell sharply on Friday and posted its biggest weekly decline against the euro in more than three years, helping to drive a rally in Wall Street stocks and crude oil.
RELATED
> Indonesia plans levy of $50/T on crude palm exports instead of tax threshold cut
> Informa lowers forecasts for U.S. 2015 corn, soybean plantings
> China urges more action to raise grain output-Xinhua
> Monsanto weed killer can 'probably' cause cancer -World Health Organization
> Andersons shares up after Bloomberg report hints Glencore interest
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's March 1-25 palm oil exports on March 25.
Palm, soy and crude oil prices at 2353 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 4698 -16.00 4642 4720 383752
CHINA SOYOIL SEP5 5436 +14.00 5372 5464 327512
CBOT SOY OIL MAY5 30.68 -0.90 0.00 0.00 0
INDIA PALM OIL MAR5 438.00 -0.90 433.70 441.40 1028
INDIA SOYOIL APR5 581.90 +4.90 575.00 583.00 39150
NYMEX CRUDE MAY5 45.97 -0.60 45.90 46.44 3335
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 dropped on Friday as weak export figures worried traders, but the soft dollar helped to limit losses.
* U.S. corn, soybeans and wheat futures rallied on Friday as investors used a sharp drop in the dollar as an excuse to cover short positions ahead of the weekend, traders said.
* Oil prices jumped on Friday with U.S. crude up 4 percent after the dollar fell on interest-rate uncertainty, lifting demand for dollar-denominated commodities from holders of other currencies.
MARKET NEWS
* The U.S. dollar fell sharply on Friday and posted its biggest weekly decline against the euro in more than three years, helping to drive a rally in Wall Street stocks and crude oil.
RELATED
> Indonesia plans levy of $50/T on crude palm exports instead of tax threshold cut
> Informa lowers forecasts for U.S. 2015 corn, soybean plantings
> China urges more action to raise grain output-Xinhua
> Monsanto weed killer can 'probably' cause cancer -World Health Organization
> Andersons shares up after Bloomberg report hints Glencore interest
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's March 1-25 palm oil exports on March 25.
Palm, soy and crude oil prices at 2353 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 4698 -16.00 4642 4720 383752
CHINA SOYOIL SEP5 5436 +14.00 5372 5464 327512
CBOT SOY OIL MAY5 30.68 -0.90 0.00 0.00 0
INDIA PALM OIL MAR5 438.00 -0.90 433.70 441.40 1028
INDIA SOYOIL APR5 581.90 +4.90 575.00 583.00 39150
NYMEX CRUDE MAY5 45.97 -0.60 45.90 46.44 3335
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