MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Mar 30
VEGOILS-Market Factors to Watch Mar 30
30/03/2017 - (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 consecutive session on Wednesday, supported by strength in soyoil on the Chicago Board of Trade and a weaker ringgit.
* U.S. soybean futures closed lower on Wednesday, while corn and wheat prices edged higher as investors squared positions ahead of U.S. Department of Agriculture plantings and grain stocks data on Friday, traders and analysts said.
* Oil prices rose more than 2 percent on Wednesday as U.S. crude inventories grew less than expected, supply disruptions continued in Libya and the OPEC-led output cut by producing countries looked likely to be extended.
MARKET NEWS
* Stocks rose slightly on Wall Street on Wednesday and a global equities index ticked lower, while crude futures hit a nine-day high after a smaller-than-expected build in U.S. inventories.
RELATED
> Indonesia lowers palm, cocoa export taxes for April
> Indian regulator says Agrium-Potash merger likely to hurt competition
> Moscow, Ankara to discuss Russian grain supplies in early April
> OPEC compliance with oil curbs rises in March as UAE joins cut - survey
> ConocoPhillips sells oil and gas assets to Cenovus for $13.3 bln
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia’s Mar 1-31 palm oil export data on Mar 31.
> Cargo surveyor SGS releases Malaysia’s Mar 1-31 palm oil export data on Mar 31.
Palm, soy and crude oil prices at 2348 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 5432 -2.00 5412 5456 154650
CHINA SOYOIL SEP7 6186 -20.00 6150 6214 230876
CBOT SOY OIL MAY7 32.21 +1.40 0 0 0
INDIA PALM OIL MAR7 538.30 +1.40 536.50 538.9 349
INDIA SOYOIL APR7 639.3 -4.25 638.75 644.2 14500
NYMEX CRUDE MAY7 49.55 +0.04 49.51 49.65 3689
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 consecutive session on Wednesday, supported by strength in soyoil on the Chicago Board of Trade and a weaker ringgit.
* U.S. soybean futures closed lower on Wednesday, while corn and wheat prices edged higher as investors squared positions ahead of U.S. Department of Agriculture plantings and grain stocks data on Friday, traders and analysts said.
* Oil prices rose more than 2 percent on Wednesday as U.S. crude inventories grew less than expected, supply disruptions continued in Libya and the OPEC-led output cut by producing countries looked likely to be extended.
MARKET NEWS
* Stocks rose slightly on Wall Street on Wednesday and a global equities index ticked lower, while crude futures hit a nine-day high after a smaller-than-expected build in U.S. inventories.
RELATED
> Indonesia lowers palm, cocoa export taxes for April
> Indian regulator says Agrium-Potash merger likely to hurt competition
> Moscow, Ankara to discuss Russian grain supplies in early April
> OPEC compliance with oil curbs rises in March as UAE joins cut - survey
> ConocoPhillips sells oil and gas assets to Cenovus for $13.3 bln
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia’s Mar 1-31 palm oil export data on Mar 31.
> Cargo surveyor SGS releases Malaysia’s Mar 1-31 palm oil export data on Mar 31.
Palm, soy and crude oil prices at 2348 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 5432 -2.00 5412 5456 154650
CHINA SOYOIL SEP7 6186 -20.00 6150 6214 230876
CBOT SOY OIL MAY7 32.21 +1.40 0 0 0
INDIA PALM OIL MAR7 538.30 +1.40 536.50 538.9 349
INDIA SOYOIL APR7 639.3 -4.25 638.75 644.2 14500
NYMEX CRUDE MAY7 49.55 +0.04 49.51 49.65 3689
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