MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch April 8
VEGOILS-Market Factors to Watch April 8
08/04/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures fell in evening trade on Thursday, reversing earlier gains as weaker demand weighed on prices and traders took profits ahead of official data due next week.
* Chicago wheat dropped on Thursday for the fourth straight session on lackluster weekly export sales and the improving condition of the U.S. winter crop.
* Oil settled lower on Thursday after data showed higher weekly inventories at the U.S. crude storage base despite a pipeline outage, but prices pared losses on short-covering, suggesting more volatility ahead.
MARKET NEWS
* The dollar continued to slump against the yen on Thursday expectations the Bank of Japan was unlikely to intervene with more policy measures, while global growth concerns knocked down equities.
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> World food prices edge up in March, still down 12 pct yr/yr
> Modi's rural income promise leaves Indian farmers, experts cold
> China set to shake up world copper market with exports as stockpiles rise -traders
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 0031 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 5478 -48.00 5458 5524 465580
CHINA SOYOIL SEP6 6028 -44.00 6012 6066 248702
CBOT SOY OIL MAY6 34.1 -0.60 34.1 34.16 308
INDIA PALM OIL APR6 561.30 -0.60 557.90 565.5 2503
INDIA SOYOIL APR6 658.3 -1.45 655.1 664 14100
NYMEX CRUDE MAY6 37.63 +0.37 37.45 37.70 9735
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 in evening trade on Thursday, reversing earlier gains as weaker demand weighed on prices and traders took profits ahead of official data due next week.
* Chicago wheat dropped on Thursday for the fourth straight session on lackluster weekly export sales and the improving condition of the U.S. winter crop.
* Oil settled lower on Thursday after data showed higher weekly inventories at the U.S. crude storage base despite a pipeline outage, but prices pared losses on short-covering, suggesting more volatility ahead.
MARKET NEWS
* The dollar continued to slump against the yen on Thursday expectations the Bank of Japan was unlikely to intervene with more policy measures, while global growth concerns knocked down equities.
RELATED
> INTERVIEW-China may pay more for canola if standard changes - Richardson Int'l
> China aims to cut corn planting in parts of farming belt by a third
> World food prices edge up in March, still down 12 pct yr/yr
> Modi's rural income promise leaves Indian farmers, experts cold
> China set to shake up world copper market with exports as stockpiles rise -traders
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 0031 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 5478 -48.00 5458 5524 465580
CHINA SOYOIL SEP6 6028 -44.00 6012 6066 248702
CBOT SOY OIL MAY6 34.1 -0.60 34.1 34.16 308
INDIA PALM OIL APR6 561.30 -0.60 557.90 565.5 2503
INDIA SOYOIL APR6 658.3 -1.45 655.1 664 14100
NYMEX CRUDE MAY6 37.63 +0.37 37.45 37.70 9735
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