VEGOILS-Market Factors To Watch May 9
09/05/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures closed marginally lower on Friday, posting their first drop in three sessions as falls in competing vegetable oils weighed, but found some support from industry data showing lower production and short-covering by traders.
* U.S. soybean, corn and wheat futures rose on Friday on bargain buying after all three commodities posted sharp declines on Thursday.
* Oil prices rose about 2 percent in early Asian trading on Monday as supply outages persisted over the weekend from Canada's wildfires that have shut half the country's vast oil sands capacity.
MARKET NEWS
* U.S. stocks ended slightly higher on Friday as investors warmed to data showing U.S. wage growth in April despite weaker-than-expected jobs growth, whilethe wages data also pushed longer-dated Treasury yields higher.
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DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's May 1-10 palm oil export data on May 10.
> Cargo surveyor SGS releases Malaysia's May 1-10 palm oil export data on May 10.
Palm, soy and crude oil prices at 0030 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 5472 +92.00 5378 5482 476238
CHINA SOYOIL SEP6 6186 +46.00 6108 6190 255654
CBOT SOY OIL JUL6 33.47 +0.90 33.13 33.51 2529
INDIA PALM OIL MAY6 553.00 +0.90 547.50 553 2280
INDIA SOYOIL MAY6 643 +0.50 637.5 644.4 19690
NYMEX CRUDE JUN6 45.58 +0.92 45.00 45.94 33447
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