MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Mar 8
VEGOILS-Market Factors to Watch Mar 8
08/03/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures fell on Tuesday evening to snap five sessions of gains, as it dipped on weak demand.
* U.S. soybean futures dropped 1.1 percent on Tuesday to their lowest in more than a week on rising expectations for a Brazil harvest already forecast to be a record, traders said.
* Oil prices ended little changed on Tuesday, as growing U.S. production expectations offset earlier gains after Saudi Arabia's oil minister said market fundamentals were improving.
MARKET NEWS
* A gauge of global stock markets slipped on Tuesday as the Dow and S&P 500 notched their first back-to-back losses in more than a month, while expectations the Federal Reserve will raise interest rates supported the U.S. dollar.
RELATED
> EXCLUSIVE-ADM and Almarai among companies eyeing Saudi grains agency asset sale
> Malaysia, Indonesia biodiesel production forecast to rise in 2017
> Global palm oil output seen rising 11 pct in 2017
> U.S. chicken, egg companies heighten security after bird flu case
> U.S. judge rules against tribes seeking to stop Dakota pipeline
> Burning less oil at home will help Saudi exports and Aramco IPO
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia’s Feb 1-28 palm oil export data on Mar 10.
> Cargo surveyor SGS releases Malaysia’s Feb 1-28 palm oil export data on Mar 10.
Palm, soy and crude oil prices at 0029 GMT
Contract Month Last Change Low High Volume
MY PALM OIL MAR7 0 +0.00 0 0 0
MY PALM OIL APR7 0 +0.00 0 0 0
MY PALM OIL MAY7 0 +0.00 0 0 0
CHINA PALM OLEIN MAY7 5788 -104.00 5780 5876 184658
CHINA SOYOIL MAY7 6514 -102.00 6486 6596 169964
CBOT SOY OIL MAY7 33.73 -7.00 0 0 0
INDIA PALM OIL MAR7 531.50 -7.00 530.10 539.5 2822
INDIA SOYOIL MAR7 657.1 -5.80 655.9 663.3 19050
NYMEX CRUDE APR7 52.85 -0.29 52.75 52.92 3870
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 Tuesday evening to snap five sessions of gains, as it dipped on weak demand.
* U.S. soybean futures dropped 1.1 percent on Tuesday to their lowest in more than a week on rising expectations for a Brazil harvest already forecast to be a record, traders said.
* Oil prices ended little changed on Tuesday, as growing U.S. production expectations offset earlier gains after Saudi Arabia's oil minister said market fundamentals were improving.
MARKET NEWS
* A gauge of global stock markets slipped on Tuesday as the Dow and S&P 500 notched their first back-to-back losses in more than a month, while expectations the Federal Reserve will raise interest rates supported the U.S. dollar.
RELATED
> EXCLUSIVE-ADM and Almarai among companies eyeing Saudi grains agency asset sale
> Malaysia, Indonesia biodiesel production forecast to rise in 2017
> Global palm oil output seen rising 11 pct in 2017
> U.S. chicken, egg companies heighten security after bird flu case
> U.S. judge rules against tribes seeking to stop Dakota pipeline
> Burning less oil at home will help Saudi exports and Aramco IPO
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia’s Feb 1-28 palm oil export data on Mar 10.
> Cargo surveyor SGS releases Malaysia’s Feb 1-28 palm oil export data on Mar 10.
Palm, soy and crude oil prices at 0029 GMT
Contract Month Last Change Low High Volume
MY PALM OIL MAR7 0 +0.00 0 0 0
MY PALM OIL APR7 0 +0.00 0 0 0
MY PALM OIL MAY7 0 +0.00 0 0 0
CHINA PALM OLEIN MAY7 5788 -104.00 5780 5876 184658
CHINA SOYOIL MAY7 6514 -102.00 6486 6596 169964
CBOT SOY OIL MAY7 33.73 -7.00 0 0 0
INDIA PALM OIL MAR7 531.50 -7.00 530.10 539.5 2822
INDIA SOYOIL MAR7 657.1 -5.80 655.9 663.3 19050
NYMEX CRUDE APR7 52.85 -0.29 52.75 52.92 3870
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