MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch May 8
VEGOILS-Market Factors to Watch May 8
08/05/2015 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures fell on Thursday as comparative soy markets weakened and investors fretted about a build-up in stocks in the world's No.2 producer, cutting short a rally that had lifted prices up 6 percent in the past week.
* U.S. corn and soybean futures fell on Thursday, pressured by forecasts for wet and warm weather in the Midwest that will foster early development of both crops in the coming weeks, traders said.
* Oil prices tumbled 3 percent on Thursday as a resurgent dollar erased gains from the past two sessions, setting the market up for its first weekly loss in five.
MARKET NEWS
* The global bond market rout slowed on Thursday as long-term borrowing costs retreated from their highest levels in more than five months, helping to stabilize European stocks and kindle a mild recovery on Wall Street.
RELATED
> Wilmar Q1 profit jumps on grains, oilseeds performance
> World food prices fall to near 5-year low in April - UN FAO
> China 2015/16 corn forecast output seen up at record, imports down
> India's April oilmeal exports down 35 pct y/y -trade
> Australian regulator proposes curbing grain export rules at key port
> Argentina cuts March export taxes on biodiesel
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's May 1-10 palm oil exports on May 11.
> Industry regulator the Malaysian Palm Oil Board (MPOB) to release data on Malaysia's end-April palm oil stocks, exports and production on May 11.
Palm, soy and crude oil prices at 2358 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 5034 -82.00 5030 5098 318828
CHINA SOYOIL SEP5 5826 -78.00 5824 5886 365870
CBOT SOY OIL JUL5 32.55 +3.70 0.00 0.00 0
INDIA PALM OIL MAY5 447.20 +3.70 444.20 450.50 1769
INDIA SOYOIL JUN5 595.15 +1.95 592.30 600.70 55520
NYMEX CRUDE JUN5 59.01 +0.07 58.86 59.04 1535
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 fell on Thursday as comparative soy markets weakened and investors fretted about a build-up in stocks in the world's No.2 producer, cutting short a rally that had lifted prices up 6 percent in the past week.
* U.S. corn and soybean futures fell on Thursday, pressured by forecasts for wet and warm weather in the Midwest that will foster early development of both crops in the coming weeks, traders said.
* Oil prices tumbled 3 percent on Thursday as a resurgent dollar erased gains from the past two sessions, setting the market up for its first weekly loss in five.
MARKET NEWS
* The global bond market rout slowed on Thursday as long-term borrowing costs retreated from their highest levels in more than five months, helping to stabilize European stocks and kindle a mild recovery on Wall Street.
RELATED
> Wilmar Q1 profit jumps on grains, oilseeds performance
> World food prices fall to near 5-year low in April - UN FAO
> China 2015/16 corn forecast output seen up at record, imports down
> India's April oilmeal exports down 35 pct y/y -trade
> Australian regulator proposes curbing grain export rules at key port
> Argentina cuts March export taxes on biodiesel
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's May 1-10 palm oil exports on May 11.
> Industry regulator the Malaysian Palm Oil Board (MPOB) to release data on Malaysia's end-April palm oil stocks, exports and production on May 11.
Palm, soy and crude oil prices at 2358 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 5034 -82.00 5030 5098 318828
CHINA SOYOIL SEP5 5826 -78.00 5824 5886 365870
CBOT SOY OIL JUL5 32.55 +3.70 0.00 0.00 0
INDIA PALM OIL MAY5 447.20 +3.70 444.20 450.50 1769
INDIA SOYOIL JUN5 595.15 +1.95 592.30 600.70 55520
NYMEX CRUDE JUN5 59.01 +0.07 58.86 59.04 1535
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