MARKET DEVELOPMENT
Vegoils: Market Factors to Watch Thursday April 30
Vegoils: Market Factors to Watch Thursday April 30
30/04/2015 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Thursday April 30.
FUNDAMENTALS
* Malaysian palm oil futures touched a fresh eight-month low on Wednesday, tracking weakness in comparative edible oils, although traders expect selling pressure to reduce ahead of the long weekend.
* U.S. grains jumped as much as 1 percent on Wednesday, with corn rebounding from a six-month low and wheat from a nearly five-year low on support from short covering and a weaker dollar.
* Oil prices hit the highest this year on Wednesday after the first crude stock draw in five months at the U.S. Cushing, Oklahoma hub suggested an oil glut may be starting to ease.
MARKET NEWS
* Asian stocks slipped and the euro stood tall against the dollar early on Thursday after U.S. data overnight showed the economy grew much more slowly than expected in the first quarter.
RELATED
> China's soybean subsidy seen reducing acreage by 20 pct - think tank
> Argentine port strike may cut soy flow, raise world food prices
> Firm U.S. cash values seen curbing CBOT May soy deliveries
> Soya and chicken exports to protect Ukrainian MHP's bottom line
> Indonesian corn import curbs to push up poultry prices, threaten inflation
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's April palm oil exports on April 30.
> Malaysian markets closed on Friday to Monday for public holidays, to reopen on May 5.
Palm, soy and crude oil prices at 0052 GMT
Contract Month Last Change Low High Volume
MY PALM OIL MAY5 0 +0.00 0 0 0
MY PALM OIL JUN5 0 +0.00 0 0 0
MY PALM OIL JUL5 0 +0.00 0 0 0
CHINA PALM OLEIN SEP5 4870 +8.00 4836 4878 257234
CHINA SOYOIL SEP5 5676 +10.00 5632 5692 322376
CBOT SOY OIL JUL5 31.67 -0.80 31.63 31.67 561
INDIA PALM OIL APR5 434.70 -0.80 433.20 435.40 1158
INDIA SOYOIL JUN5 583.15 -4.00 581.30 587.30 54825
NYMEX CRUDE JUN5 58.45 -0.13 58.38 58.70 2178
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 touched a fresh eight-month low on Wednesday, tracking weakness in comparative edible oils, although traders expect selling pressure to reduce ahead of the long weekend.
* U.S. grains jumped as much as 1 percent on Wednesday, with corn rebounding from a six-month low and wheat from a nearly five-year low on support from short covering and a weaker dollar.
* Oil prices hit the highest this year on Wednesday after the first crude stock draw in five months at the U.S. Cushing, Oklahoma hub suggested an oil glut may be starting to ease.
MARKET NEWS
* Asian stocks slipped and the euro stood tall against the dollar early on Thursday after U.S. data overnight showed the economy grew much more slowly than expected in the first quarter.
RELATED
> China's soybean subsidy seen reducing acreage by 20 pct - think tank
> Argentine port strike may cut soy flow, raise world food prices
> Firm U.S. cash values seen curbing CBOT May soy deliveries
> Soya and chicken exports to protect Ukrainian MHP's bottom line
> Indonesian corn import curbs to push up poultry prices, threaten inflation
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's April palm oil exports on April 30.
> Malaysian markets closed on Friday to Monday for public holidays, to reopen on May 5.
Palm, soy and crude oil prices at 0052 GMT
Contract Month Last Change Low High Volume
MY PALM OIL MAY5 0 +0.00 0 0 0
MY PALM OIL JUN5 0 +0.00 0 0 0
MY PALM OIL JUL5 0 +0.00 0 0 0
CHINA PALM OLEIN SEP5 4870 +8.00 4836 4878 257234
CHINA SOYOIL SEP5 5676 +10.00 5632 5692 322376
CBOT SOY OIL JUL5 31.67 -0.80 31.63 31.67 561
INDIA PALM OIL APR5 434.70 -0.80 433.20 435.40 1158
INDIA SOYOIL JUN5 583.15 -4.00 581.30 587.30 54825
NYMEX CRUDE JUN5 58.45 -0.13 58.38 58.70 2178
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