MARKET DEVELOPMENT
VEGOILS-Market Factors To Watch March 11
VEGOILS-Market Factors To Watch March 11
11/03/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures reversed gains to fall from a near three-week high on Thursday evening, due to sluggish export demand and a stronger ringgit.
* U.S. wheat futures climbed for a seventh straight session on Thursday, the longest such streak in nearly two years, as a weaker dollar and concerns about adverse crop weather sparked fund short covering and other buying.
* Oil prices fell on Thursday, with U.S. crude retreating from three-month highs as refinery maintenance looked set to boost record domestic crude stockpiles, while an OPEC meeting aimed at freezing output appeared unlikely without Iran's participation.
MARKET NEWS
* The euro held hefty gains in Asia on Friday after the European Central Bank eased aggressively but suggested it was running out of room to cut interest rates, even if other stimulus options remained.
RELATED
> Brazil raises record soy crop forecast to 101.2 mln t - govt
> Stick to science in canola trade dispute, Canada minister tells China
> Oil under threat from stealthily building gasoline stocks
> U.S. soy supply outlook raised as domestic demand wanes
> China should release its massive corn stocks soon -delegate
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's March 1-15 palm oil export data on March 15.
> Cargo surveyor SGS releases Malaysia's March 1-15 palm oil export data on March 15.
Palm, soy and crude oil prices at 0023 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 5074 -58.00 5048 5084 200854
CHINA SOYOIL MAY6 5720 +2.00 5674 5722 77958
CBOT SOY OIL MAY6 31.62 -11.00 0.00 0.00 0
INDIA PALM OIL MAR6 496.50 -11.00 496.30 506.30 3422
INDIA SOYOIL MAR6 607.00 -5.50 607.00 612.00 12880
NYMEX CRUDE APR6 38.03 +0.19 37.92 38.09 2774
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 reversed gains to fall from a near three-week high on Thursday evening, due to sluggish export demand and a stronger ringgit.
* U.S. wheat futures climbed for a seventh straight session on Thursday, the longest such streak in nearly two years, as a weaker dollar and concerns about adverse crop weather sparked fund short covering and other buying.
* Oil prices fell on Thursday, with U.S. crude retreating from three-month highs as refinery maintenance looked set to boost record domestic crude stockpiles, while an OPEC meeting aimed at freezing output appeared unlikely without Iran's participation.
MARKET NEWS
* The euro held hefty gains in Asia on Friday after the European Central Bank eased aggressively but suggested it was running out of room to cut interest rates, even if other stimulus options remained.
RELATED
> Brazil raises record soy crop forecast to 101.2 mln t - govt
> Stick to science in canola trade dispute, Canada minister tells China
> Oil under threat from stealthily building gasoline stocks
> U.S. soy supply outlook raised as domestic demand wanes
> China should release its massive corn stocks soon -delegate
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's March 1-15 palm oil export data on March 15.
> Cargo surveyor SGS releases Malaysia's March 1-15 palm oil export data on March 15.
Palm, soy and crude oil prices at 0023 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 5074 -58.00 5048 5084 200854
CHINA SOYOIL MAY6 5720 +2.00 5674 5722 77958
CBOT SOY OIL MAY6 31.62 -11.00 0.00 0.00 0
INDIA PALM OIL MAR6 496.50 -11.00 496.30 506.30 3422
INDIA SOYOIL MAR6 607.00 -5.50 607.00 612.00 12880
NYMEX CRUDE APR6 38.03 +0.19 37.92 38.09 2774
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