MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Mar 13
VEGOILS-Market Factors to Watch Mar 13
13/03/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures fell more than 2 percent on Friday, tracking weakness in rival oils and on weak export data and mixed forecasts at an industry conference this week.
* Chicago Board of Trade soybean futures fell to a two-month low on Friday as the ongoing harvest of a projected record-large Brazilian soy crop threatened U.S. export prospects, traders said.
* Oil prices dropped to their lowest in three months on Monday despite OPEC efforts to curb crude output, dragged down as U.S. drillers kept adding rigs.
MARKET NEWS
* Asian shares started the week on a cautious note on Monday as strong U.S. jobs data cemented expectations of a hike in U.S. interest rates this week and as oil prices plunged to 3 1/2-month lows on fresh worries of oversupply.
RELATED
> Brazil soy harvest 56 pct complete, ahead of average
> Malaysia's Mar 1-10 palm oil exports fell 25.7 pct -SGS
> Malaysia's March 1 - 10 palm oil exports fall 25.5 pct -ITS
> Commodities mark worst week in months amid glut, China drag
> Despite sanctions relief, Shell still cool on Iranian oil buys
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 0118 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 5790 +12.00 5740 5804 184864
CHINA SOYOIL MAY7 6446 -2.00 6408 6462 162684
CBOT SOY OIL MAY7 32.8 -1.20 32.59 32.88 2036
INDIA PALM OIL MAR7 526.00 -1.20 522.10 530 2638
INDIA SOYOIL MAR7 650.35 -0.40 646.2 651.8 10940
NYMEX CRUDE APR7 48.13 -0.36 47.90 48.54 27841
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 more than 2 percent on Friday, tracking weakness in rival oils and on weak export data and mixed forecasts at an industry conference this week.
* Chicago Board of Trade soybean futures fell to a two-month low on Friday as the ongoing harvest of a projected record-large Brazilian soy crop threatened U.S. export prospects, traders said.
* Oil prices dropped to their lowest in three months on Monday despite OPEC efforts to curb crude output, dragged down as U.S. drillers kept adding rigs.
MARKET NEWS
* Asian shares started the week on a cautious note on Monday as strong U.S. jobs data cemented expectations of a hike in U.S. interest rates this week and as oil prices plunged to 3 1/2-month lows on fresh worries of oversupply.
RELATED
> Brazil soy harvest 56 pct complete, ahead of average
> Malaysia's Mar 1-10 palm oil exports fell 25.7 pct -SGS
> Malaysia's March 1 - 10 palm oil exports fall 25.5 pct -ITS
> Commodities mark worst week in months amid glut, China drag
> Despite sanctions relief, Shell still cool on Iranian oil buys
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 0118 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 5790 +12.00 5740 5804 184864
CHINA SOYOIL MAY7 6446 -2.00 6408 6462 162684
CBOT SOY OIL MAY7 32.8 -1.20 32.59 32.88 2036
INDIA PALM OIL MAR7 526.00 -1.20 522.10 530 2638
INDIA SOYOIL MAR7 650.35 -0.40 646.2 651.8 10940
NYMEX CRUDE APR7 48.13 -0.36 47.90 48.54 27841
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