MARKET DEVELOPMENT
VEGOILS-Market Factors To Watch March 15
VEGOILS-Market Factors To Watch March 15
15/03/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures fell on Monday, tracking competing oils and on slow export demand, after rising to their highest level in a month in early trade, lifted by last week's forecasts of slowing output.
* U.S. corn futures rose to a three-week high on Monday, their eighth day of gains over nine sessions, supported by a round of short covering, traders said.
* Oil prices fell about 3 percent on Monday on concerns that a six-week market recovery has gone beyond fundamentals as U.S. crude stockpiles continue to build and Iran maintains little interest in joining major producers in freezing production.
MARKET NEWS
* Oil prices fell on Monday as Iran dashed hopes of a coordinated production freeze, while the dollar rose ahead of a policy meeting at the U.S. central bank.
RELATED
> Malaysia March 1-15 palm oil exports up 7 pct m/m -ITS
> Hail threatens Indian farmers with fourth straight crop loss
> Corn firms on short covering; weather concerns boost wheat
> Russian wheat exporters seen pressing farmers to downgrade prices
> OPEC sees lower 2016 demand for its oil, pointing to higher surplus
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 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 5162 -20.00 5100 5164 178112
CHINA SOYOIL SEP6 5916 -20.00 5856 5920 283984
CBOT SOY OIL MAY6 32.4 -0.30 32.35 32.41 343
INDIA PALM OIL MAR6 506.40 -0.30 503.00 508.3 1562
INDIA SOYOIL MAR6 611.5 -0.95 609.5 614.5 7890
NYMEX CRUDE APR6 37.37 +0.19 37.28 37.40 2256
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 Monday, tracking competing oils and on slow export demand, after rising to their highest level in a month in early trade, lifted by last week's forecasts of slowing output.
* U.S. corn futures rose to a three-week high on Monday, their eighth day of gains over nine sessions, supported by a round of short covering, traders said.
* Oil prices fell about 3 percent on Monday on concerns that a six-week market recovery has gone beyond fundamentals as U.S. crude stockpiles continue to build and Iran maintains little interest in joining major producers in freezing production.
MARKET NEWS
* Oil prices fell on Monday as Iran dashed hopes of a coordinated production freeze, while the dollar rose ahead of a policy meeting at the U.S. central bank.
RELATED
> Malaysia March 1-15 palm oil exports up 7 pct m/m -ITS
> Hail threatens Indian farmers with fourth straight crop loss
> Corn firms on short covering; weather concerns boost wheat
> Russian wheat exporters seen pressing farmers to downgrade prices
> OPEC sees lower 2016 demand for its oil, pointing to higher surplus
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 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 5162 -20.00 5100 5164 178112
CHINA SOYOIL SEP6 5916 -20.00 5856 5920 283984
CBOT SOY OIL MAY6 32.4 -0.30 32.35 32.41 343
INDIA PALM OIL MAR6 506.40 -0.30 503.00 508.3 1562
INDIA SOYOIL MAR6 611.5 -0.95 609.5 614.5 7890
NYMEX CRUDE APR6 37.37 +0.19 37.28 37.40 2256
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