MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Mar 20
VEGOILS-Market Factors to Watch Mar 20
20/03/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures rebounded late on Friday after falling earlier in the session, boosted by expectations of improving demand and stronger soyoil.
* U.S. corn and wheat futures closed slightly higher on Friday, as their recent rally from multi-week lows ran out of steam in the absence of fresh fundamental news, traders said.
* Oil prices were largely steady on Friday, finishing the week with modest gains, but speculators sharply cut long positions during last week's rout, on concerns that an OPEC production cut was failing to reduce a global supply overhang.
MARKET NEWS
* A global stocks index touched a fresh record high on Friday, wrapping up a week when many of the world's major central banks either raised interest rates or signalled they might do so, underlining confidence about economic growth and inflation.
RELATED
> Libya's NOC says expects to regain Es Sider, Ras Lanuf oil ports
> Non-OPEC producers deliver 64 pct of pledged oil output cuts in Feb -source
> Malaysian palm kernel oil set for fresh surge as buyers return
> Turkey denies reports of import ban on Russian wheat
> Brazil weighs request to tax ethanol imports, says ministry
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia’s Mar 1-20 palm oil export data on Mar 20.
> Cargo surveyor SGS releases Malaysia’s Mar 1-20 palm oil export data on Mar 20.
Palm, soy and crude oil prices at 0042 GMT
Contract Month Last Change Low High Volume
MY PALM OIL APR7 0 +0.00 0 0 0
MY PALM OIL MAY7 0 +0.00 0 0 0
MY PALM OIL JUN7 0 +0.00 0 0 0
CHINA PALM OLEIN SEP7 5618 +4.00 5600 5632 77302
CHINA SOYOIL SEP7 6504 +24.00 6488 6514 57324
CBOT SOY OIL MAY7 32.43 +1.80 32.41 32.52 693
INDIA PALM OIL MAR7 532.70 +1.80 527.40 533.4 1862
INDIA SOYOIL MAR7 657.4 +2.40 655.05 657.5 3370
NYMEX CRUDE APR7 48.31 -0.47 48.26 48.74 2283
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 rebounded late on Friday after falling earlier in the session, boosted by expectations of improving demand and stronger soyoil.
* U.S. corn and wheat futures closed slightly higher on Friday, as their recent rally from multi-week lows ran out of steam in the absence of fresh fundamental news, traders said.
* Oil prices were largely steady on Friday, finishing the week with modest gains, but speculators sharply cut long positions during last week's rout, on concerns that an OPEC production cut was failing to reduce a global supply overhang.
MARKET NEWS
* A global stocks index touched a fresh record high on Friday, wrapping up a week when many of the world's major central banks either raised interest rates or signalled they might do so, underlining confidence about economic growth and inflation.
RELATED
> Libya's NOC says expects to regain Es Sider, Ras Lanuf oil ports
> Non-OPEC producers deliver 64 pct of pledged oil output cuts in Feb -source
> Malaysian palm kernel oil set for fresh surge as buyers return
> Turkey denies reports of import ban on Russian wheat
> Brazil weighs request to tax ethanol imports, says ministry
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia’s Mar 1-20 palm oil export data on Mar 20.
> Cargo surveyor SGS releases Malaysia’s Mar 1-20 palm oil export data on Mar 20.
Palm, soy and crude oil prices at 0042 GMT
Contract Month Last Change Low High Volume
MY PALM OIL APR7 0 +0.00 0 0 0
MY PALM OIL MAY7 0 +0.00 0 0 0
MY PALM OIL JUN7 0 +0.00 0 0 0
CHINA PALM OLEIN SEP7 5618 +4.00 5600 5632 77302
CHINA SOYOIL SEP7 6504 +24.00 6488 6514 57324
CBOT SOY OIL MAY7 32.43 +1.80 32.41 32.52 693
INDIA PALM OIL MAR7 532.70 +1.80 527.40 533.4 1862
INDIA SOYOIL MAR7 657.4 +2.40 655.05 657.5 3370
NYMEX CRUDE APR7 48.31 -0.47 48.26 48.74 2283
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