MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch May 11
VEGOILS-Market Factors to Watch May 11
11/05/2015 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures fell on Friday as traders squared positions before the weekend and as weakness in competing oils weighed, but Indonesia's approval of export levies lifted the benchmark to its biggest weekly gain since February.
* U.S. wheat futures rose on Friday, supported by results from an annual crop tour that projected below-average yields in Kansas, the top production state for the grain, traders said.
* Brent oil posted its first weekly loss in a month on Friday as the market fretted again about global oversupply while U.S. crude rose for an eighth straight week, helped by jobs growth data and the first storm of the hurricane season forming.
MARKET NEWS
* An April rebound in U.S. jobs growth boosted Wall Street and supported the dollar on Friday, while a surprise Conservative victory cast away fears of a hung British Parliament and sparked a rally in sterling and European stock markets.
RELATED
> ADM launches sustainable soy certification program in Brazil
> Argentina's speedy soy harvest weighs on world food prices
> China April soy imports down around 18 pct on year -customs
> China must overhaul farm support policy, says think-tank
> Monsanto set to press ahead with Syngenta takeover plan - source
> Canpotex strikes potash deal with India, matches Uralkali terms
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 0452 GMT
Contract Month Last Change Low High Volume
MY PALM OIL FEB5 2240 -24.00 2230 2254 29
MY PALM OIL MAR5 2228 -19.00 2220 2249 388
MY PALM OIL APR5 2210 -20.00 2202 2222 7986
CHINA PALM OLEIN MAY5 4846 -22.00 4844 4874 180294
CHINA SOYOIL MAY5 5514 -52.00 5508 5562 240078
CBOT SOY OIL MAR5 31.48 -3.50 31.47 31.57 2367
INDIA PALM OIL JAN5 434.90 -3.50 434.00 439.50 488
INDIA SOYOIL FEB5 616.00 -9.00 615.70 624.80 50145
NYMEX CRUDE MAR5 45.06 -0.53 44.35 45.35 25835
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 Friday as traders squared positions before the weekend and as weakness in competing oils weighed, but Indonesia's approval of export levies lifted the benchmark to its biggest weekly gain since February.
* U.S. wheat futures rose on Friday, supported by results from an annual crop tour that projected below-average yields in Kansas, the top production state for the grain, traders said.
* Brent oil posted its first weekly loss in a month on Friday as the market fretted again about global oversupply while U.S. crude rose for an eighth straight week, helped by jobs growth data and the first storm of the hurricane season forming.
MARKET NEWS
* An April rebound in U.S. jobs growth boosted Wall Street and supported the dollar on Friday, while a surprise Conservative victory cast away fears of a hung British Parliament and sparked a rally in sterling and European stock markets.
RELATED
> ADM launches sustainable soy certification program in Brazil
> Argentina's speedy soy harvest weighs on world food prices
> China April soy imports down around 18 pct on year -customs
> China must overhaul farm support policy, says think-tank
> Monsanto set to press ahead with Syngenta takeover plan - source
> Canpotex strikes potash deal with India, matches Uralkali terms
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 0452 GMT
Contract Month Last Change Low High Volume
MY PALM OIL FEB5 2240 -24.00 2230 2254 29
MY PALM OIL MAR5 2228 -19.00 2220 2249 388
MY PALM OIL APR5 2210 -20.00 2202 2222 7986
CHINA PALM OLEIN MAY5 4846 -22.00 4844 4874 180294
CHINA SOYOIL MAY5 5514 -52.00 5508 5562 240078
CBOT SOY OIL MAR5 31.48 -3.50 31.47 31.57 2367
INDIA PALM OIL JAN5 434.90 -3.50 434.00 439.50 488
INDIA SOYOIL FEB5 616.00 -9.00 615.70 624.80 50145
NYMEX CRUDE MAR5 45.06 -0.53 44.35 45.35 25835
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