MARKET DEVELOPMENT
VEGOILS-Market Factors To Watch April 7
VEGOILS-Market Factors To Watch April 7
07/04/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures dropped to their lowest level in nearly two weeks on Wednesday, hit by better-than-expected output forecasts and weak export demand.
* Chicago wheat fell on Wednesday to a nearly one-week low, pressured by a U.S. Department of Agriculture (USDA) report that revealed U.S. wheat was progressing faster than expected.
* Oil prices rose 5 percent on Wednesday, their biggest advance in three weeks, after the U.S. government reported a surprise draw in domestic crude stockpiles versus market expectations for a new record high.
MARKET NEWS
* Global equity markets posted solid gains on Wednesday, aided by a climb in oil prices and a surge in healthcare stocks, while the U.S. dollar hit a fresh 17-month low against the yen after the minutes from the latest Federal Reserve meeting.
RELATED
> Glencore sells agri unit stake for $2.5 bln to Canadian pension fund
> Monsanto cools on large-scale M&A outlook, profit falls
> Egypt bans domestic trading of imported wheat
> Asia buys more Mideast heavy crude as Latam supplies fall
> Russia sees oil price of $45-$50 per barrel 'acceptable' as it prepares for freeze deal - sources
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's April 1-10 palm oil export data on April 11.
> Cargo surveyor SGS releases Malaysia's April 1-10 palm oil export data on April 11.
Palm, soy and crude oil prices at 0026 GMT
Contract Month Last Change Low High Volume
MY PALM OIL APR6 0 +0.00 0 0 0
MY PALM OIL MAY6 0 +0.00 0 0 0
MY PALM OIL JUN6 0 +0.00 0 0 0
CHINA PALM OLEIN SEP6 5540 +6.00 5482 5546 407266
CHINA SOYOIL SEP6 6080 -12.00 6034 6082 219960
CBOT SOY OIL MAY6 34.35 +6.50 34.23 34.35 307
INDIA PALM OIL APR6 561.90 +6.50 548.00 563 3143
INDIA SOYOIL APR6 659 +9.55 647.9 661 17820
NYMEX CRUDE MAY6 38.12 +0.37 37.64 38.13 8213
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 dropped to their lowest level in nearly two weeks on Wednesday, hit by better-than-expected output forecasts and weak export demand.
* Chicago wheat fell on Wednesday to a nearly one-week low, pressured by a U.S. Department of Agriculture (USDA) report that revealed U.S. wheat was progressing faster than expected.
* Oil prices rose 5 percent on Wednesday, their biggest advance in three weeks, after the U.S. government reported a surprise draw in domestic crude stockpiles versus market expectations for a new record high.
MARKET NEWS
* Global equity markets posted solid gains on Wednesday, aided by a climb in oil prices and a surge in healthcare stocks, while the U.S. dollar hit a fresh 17-month low against the yen after the minutes from the latest Federal Reserve meeting.
RELATED
> Glencore sells agri unit stake for $2.5 bln to Canadian pension fund
> Monsanto cools on large-scale M&A outlook, profit falls
> Egypt bans domestic trading of imported wheat
> Asia buys more Mideast heavy crude as Latam supplies fall
> Russia sees oil price of $45-$50 per barrel 'acceptable' as it prepares for freeze deal - sources
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's April 1-10 palm oil export data on April 11.
> Cargo surveyor SGS releases Malaysia's April 1-10 palm oil export data on April 11.
Palm, soy and crude oil prices at 0026 GMT
Contract Month Last Change Low High Volume
MY PALM OIL APR6 0 +0.00 0 0 0
MY PALM OIL MAY6 0 +0.00 0 0 0
MY PALM OIL JUN6 0 +0.00 0 0 0
CHINA PALM OLEIN SEP6 5540 +6.00 5482 5546 407266
CHINA SOYOIL SEP6 6080 -12.00 6034 6082 219960
CBOT SOY OIL MAY6 34.35 +6.50 34.23 34.35 307
INDIA PALM OIL APR6 561.90 +6.50 548.00 563 3143
INDIA SOYOIL APR6 659 +9.55 647.9 661 17820
NYMEX CRUDE MAY6 38.12 +0.37 37.64 38.13 8213
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