MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch March 4
VEGOILS-Market Factors to Watch March 4
04/03/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures recovered on Thursday after two straight days of declines, tracking competing vegetable oils to end the trading day higher, despite a stronger ringgit.
* U.S. wheat futures climbed to their highest in six trading sessions on Thursday as expanding dryness in the southern Plains hard wheat belt triggered a round of short-covering, traders and analysts said.
* Oil's rally lost steam on Thursday after three straight days of gains as growing record U.S. stockpiles countered OPEC plans for a production freeze, with some analysts saying the market has risen too much, too fast from 12-year lows.
MARKET NEWS
* World stock markets touched a two-month high on Thursday, fueled by gains in emerging markets and a late rally on Wall Street, as concerns about global growth abated and commodities prices extended their recovery.
RELATED
> FOB Gulf Grain-Corn premiums mostly steady on moderate demand
> Mississippi River closed near St. Louis after fuel spill -USCG
> U.S. Cash Grains-Corn, soy bids steady; wheat sales pick up
> Brazil Congress approves biodiesel blend increase to 10 pct
> Egypt may stop sending inspectors abroad to clear imported wheat-sources
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 0018 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 5024 +106.00 4970 5032 595812
CHINA SOYOIL MAY6 5652 +46.00 5632 5666 231126
CBOT SOY OIL MAY6 30.61 +5.20 0.00 0.00 0
INDIA PALM OIL MAR6 483.10 +5.20 474.10 484.50 2386
INDIA SOYOIL MAR6 603.50 +5.25 597.20 604.40 19730
NYMEX CRUDE APR6 34.68 +0.11 34.56 34.84 9209
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 recovered on Thursday after two straight days of declines, tracking competing vegetable oils to end the trading day higher, despite a stronger ringgit.
* U.S. wheat futures climbed to their highest in six trading sessions on Thursday as expanding dryness in the southern Plains hard wheat belt triggered a round of short-covering, traders and analysts said.
* Oil's rally lost steam on Thursday after three straight days of gains as growing record U.S. stockpiles countered OPEC plans for a production freeze, with some analysts saying the market has risen too much, too fast from 12-year lows.
MARKET NEWS
* World stock markets touched a two-month high on Thursday, fueled by gains in emerging markets and a late rally on Wall Street, as concerns about global growth abated and commodities prices extended their recovery.
RELATED
> FOB Gulf Grain-Corn premiums mostly steady on moderate demand
> Mississippi River closed near St. Louis after fuel spill -USCG
> U.S. Cash Grains-Corn, soy bids steady; wheat sales pick up
> Brazil Congress approves biodiesel blend increase to 10 pct
> Egypt may stop sending inspectors abroad to clear imported wheat-sources
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 0018 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 5024 +106.00 4970 5032 595812
CHINA SOYOIL MAY6 5652 +46.00 5632 5666 231126
CBOT SOY OIL MAY6 30.61 +5.20 0.00 0.00 0
INDIA PALM OIL MAR6 483.10 +5.20 474.10 484.50 2386
INDIA SOYOIL MAR6 603.50 +5.25 597.20 604.40 19730
NYMEX CRUDE APR6 34.68 +0.11 34.56 34.84 9209
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