MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch March 2
VEGOILS-Market Factors to Watch March 2
02/03/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures fell on Tuesday, snapping a three-day rising streak, hurt by a stronger ringgit MYR= and sluggish export demand.
* U.S. wheat futures fell to multi-year lows on Tuesday, pressured by strength in the dollar and better crop conditions than last year in the Plains, analysts said.
* Oil markets closed up as much as 2 percent on Tuesday, before giving back most of their gains in post-settlement trade after data suggesting a huge build in U.S. crude stockpiles already at record high levels.
MARKET NEWS
* Asian shares look set to test February highs on Wednesday as signs of recovery in the U.S. manufacturing sector and gains in oil prices eased worries about a global slowdown and pushed U.S. stocks sharply higher.
RELATED
> China to lay off 5-6 million workers, earmarks at least $23 bln
> Hard-hit potash miners aim to cut, barter their way to better times
> Russian wheat export prices down, track global benchmarks
> Petrobras to cut 5-yr investment plan one-fifth to $80 bln-sources
> U.S. EPA moves to end use of Bayer, Nichino insecticides
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's March 1-10 palm oil export data on March 10.
> Cargo surveyor SGS releases Malaysia's March 1-10 palm oil export data on March 10.
Palm, soy and crude oil prices at 0033 GMT
Contract Month Last Change Low High Volume
MY PALM OIL MAR6 0 +0.00 0 0 0
MY PALM OIL APR6 0 +0.00 0 0 0
MY PALM OIL MAY6 0 +0.00 0 0 0
CHINA PALM OLEIN MAY6 4976 +44.00 4950 5022 631876
CHINA SOYOIL MAY6 5682 +16.00 5674 5732 278128
CBOT SOY OIL MAY6 30.54 -3.10 0.00 0.00 0
INDIA PALM OIL MAR6 485.00 -3.10 483.40 488.50 1939
INDIA SOYOIL MAR6 608.20 -7.00 608.00 614.70 36950
NYMEX CRUDE APR6 33.98 -0.42 33.80 33.98 2938
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 Tuesday, snapping a three-day rising streak, hurt by a stronger ringgit MYR= and sluggish export demand.
* U.S. wheat futures fell to multi-year lows on Tuesday, pressured by strength in the dollar and better crop conditions than last year in the Plains, analysts said.
* Oil markets closed up as much as 2 percent on Tuesday, before giving back most of their gains in post-settlement trade after data suggesting a huge build in U.S. crude stockpiles already at record high levels.
MARKET NEWS
* Asian shares look set to test February highs on Wednesday as signs of recovery in the U.S. manufacturing sector and gains in oil prices eased worries about a global slowdown and pushed U.S. stocks sharply higher.
RELATED
> China to lay off 5-6 million workers, earmarks at least $23 bln
> Hard-hit potash miners aim to cut, barter their way to better times
> Russian wheat export prices down, track global benchmarks
> Petrobras to cut 5-yr investment plan one-fifth to $80 bln-sources
> U.S. EPA moves to end use of Bayer, Nichino insecticides
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's March 1-10 palm oil export data on March 10.
> Cargo surveyor SGS releases Malaysia's March 1-10 palm oil export data on March 10.
Palm, soy and crude oil prices at 0033 GMT
Contract Month Last Change Low High Volume
MY PALM OIL MAR6 0 +0.00 0 0 0
MY PALM OIL APR6 0 +0.00 0 0 0
MY PALM OIL MAY6 0 +0.00 0 0 0
CHINA PALM OLEIN MAY6 4976 +44.00 4950 5022 631876
CHINA SOYOIL MAY6 5682 +16.00 5674 5732 278128
CBOT SOY OIL MAY6 30.54 -3.10 0.00 0.00 0
INDIA PALM OIL MAR6 485.00 -3.10 483.40 488.50 1939
INDIA SOYOIL MAR6 608.20 -7.00 608.00 614.70 36950
NYMEX CRUDE APR6 33.98 -0.42 33.80 33.98 2938
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