MARKET DEVELOPMENT
VEGOILS-Market Factors To Watch March 7
VEGOILS-Market Factors To Watch March 7
07/03/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures rose on Friday tracking competing vegetable oils, gaining for a second consecutive day, although upsides were seen capped by a stronger ringgit.
* U.S. soybean futures jumped nearly 2 percent on Friday as investors covered short positions due to strong export demand, registering their biggest weekly gain since mid-December.
* Oil jumped on Friday, settling 4 percent higher as strong U.S. jobs data and technical factors encouraged buying that revived this week's rally after a one-day pause.
MARKET NEWS
* A gauge of stock markets worldwide rose to a two-month high on Friday, posting its largest weekly gain since October, as oil and other commodity prices firmed and strong U.S. jobs growth bolstered confidence in the global economy.
RELATED
> Egypt replaces head of agriculture quarantine authority
> Argentina farmers ask state to intervene in Monsanto soy fight
> China says to improve pricing mechanism for grains in 2016
> FOB Gulf Grain-Nearby soybean basis steady/weak on dull demand
> U.S. Cash Grains-Corn, soy bids mostly steady; farmers book moderate sales
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 0000 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 5080 +60.00 5008 5104 443148
CHINA SOYOIL MAY6 5700 +44.00 5660 5716 165756
CBOT SOY OIL MAY6 30.96 +2.20 0.00 0.00 0
INDIA PALM OIL MAR6 485.90 +2.20 482.40 487.00 1396
INDIA SOYOIL MAR6 605.10 +1.50 601.00 606.30 15240
NYMEX CRUDE APR6 36.27 +0.35 36.20 36.49 5752
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 rose on Friday tracking competing vegetable oils, gaining for a second consecutive day, although upsides were seen capped by a stronger ringgit.
* U.S. soybean futures jumped nearly 2 percent on Friday as investors covered short positions due to strong export demand, registering their biggest weekly gain since mid-December.
* Oil jumped on Friday, settling 4 percent higher as strong U.S. jobs data and technical factors encouraged buying that revived this week's rally after a one-day pause.
MARKET NEWS
* A gauge of stock markets worldwide rose to a two-month high on Friday, posting its largest weekly gain since October, as oil and other commodity prices firmed and strong U.S. jobs growth bolstered confidence in the global economy.
RELATED
> Egypt replaces head of agriculture quarantine authority
> Argentina farmers ask state to intervene in Monsanto soy fight
> China says to improve pricing mechanism for grains in 2016
> FOB Gulf Grain-Nearby soybean basis steady/weak on dull demand
> U.S. Cash Grains-Corn, soy bids mostly steady; farmers book moderate sales
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 0000 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 5080 +60.00 5008 5104 443148
CHINA SOYOIL MAY6 5700 +44.00 5660 5716 165756
CBOT SOY OIL MAY6 30.96 +2.20 0.00 0.00 0
INDIA PALM OIL MAR6 485.90 +2.20 482.40 487.00 1396
INDIA SOYOIL MAR6 605.10 +1.50 601.00 606.30 15240
NYMEX CRUDE APR6 36.27 +0.35 36.20 36.49 5752
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