MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch April 20
VEGOILS-Market Factors to Watch April 20
20/04/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures rose for a second trading day to a one-week high on Tuesday, tracking competing vegetable oils, after suffering losses in the previous two weeks.
* U.S. soybean Sc1 and wheat Wc1 futures extended gains to multi-month peaks on Tuesday, lifted largely by technical and investment fund buying, traders and analysts said.
* Oil prices jumped more than 3 percent on Tuesday after a strike by workers in Kuwait nearly halved the OPEC member's crude production, overshadowing bearish sentiment after Sunday's failure by producers to agree to freeze output levels.
MARKET NEWS
* Oil prices rose on Tuesday following a workers' strike in Kuwait, while a global stock index hit its highest level since early December as signs of economic stabilization in China lifted demand for riskier assets.
RELATED
> South Africa imports U.S. white maize for first time since 2004
> Physical sugar business perks up after futures hit pivotal low
> Cambodia launches $360 mln Chinese-owned mega sugar mill
> Kuwait oil, gas workers end 3-day strike -union
> As global steel crisis grips, China says March output was a record
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's April 1-20 palm oil export data on April 15.
> Cargo surveyor SGS releases Malaysia's April 1-20 palm oil export data on April 15.
Palm, soy and crude oil prices at 0028 GMT
Contract Month Last Change Low High Volume
MY PALM OIL MAY6 0 +0.00 0 0 0
MY PALM OIL JUN6 0 +0.00 0 0 0
MY PALM OIL JUL6 0 +0.00 0 0 0
CHINA PALM OLEIN SEP6 5716 +64.00 5678 5734 450154
CHINA SOYOIL SEP6 6244 +46.00 6202 6270 382792
CBOT SOY OIL MAY6 34.78 +12.10 34.67 34.78 490
INDIA PALM OIL APR6 569.00 +12.10 557.00 573.5 1050
INDIA SOYOIL APR6 648.4 +2.80 646.7 650 340
NYMEX CRUDE MAY6 40.42 -0.66 40.27 40.87 673
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 for a second trading day to a one-week high on Tuesday, tracking competing vegetable oils, after suffering losses in the previous two weeks.
* U.S. soybean Sc1 and wheat Wc1 futures extended gains to multi-month peaks on Tuesday, lifted largely by technical and investment fund buying, traders and analysts said.
* Oil prices jumped more than 3 percent on Tuesday after a strike by workers in Kuwait nearly halved the OPEC member's crude production, overshadowing bearish sentiment after Sunday's failure by producers to agree to freeze output levels.
MARKET NEWS
* Oil prices rose on Tuesday following a workers' strike in Kuwait, while a global stock index hit its highest level since early December as signs of economic stabilization in China lifted demand for riskier assets.
RELATED
> South Africa imports U.S. white maize for first time since 2004
> Physical sugar business perks up after futures hit pivotal low
> Cambodia launches $360 mln Chinese-owned mega sugar mill
> Kuwait oil, gas workers end 3-day strike -union
> As global steel crisis grips, China says March output was a record
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's April 1-20 palm oil export data on April 15.
> Cargo surveyor SGS releases Malaysia's April 1-20 palm oil export data on April 15.
Palm, soy and crude oil prices at 0028 GMT
Contract Month Last Change Low High Volume
MY PALM OIL MAY6 0 +0.00 0 0 0
MY PALM OIL JUN6 0 +0.00 0 0 0
MY PALM OIL JUL6 0 +0.00 0 0 0
CHINA PALM OLEIN SEP6 5716 +64.00 5678 5734 450154
CHINA SOYOIL SEP6 6244 +46.00 6202 6270 382792
CBOT SOY OIL MAY6 34.78 +12.10 34.67 34.78 490
INDIA PALM OIL APR6 569.00 +12.10 557.00 573.5 1050
INDIA SOYOIL APR6 648.4 +2.80 646.7 650 340
NYMEX CRUDE MAY6 40.42 -0.66 40.27 40.87 673
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