MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch April 6
VEGOILS-Market Factors to Watch April 6
06/04/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures clocked up their biggest daily gains in over five months in late trade on Wednesday, tracking rival edible oils and on a bullish export outlook for April due to Ramadan demand.
* U.S. soybeans rebounded on Wednesday from multi-month lows sparked a day earlier by fears of harvest delays in Argentina, while China's return to the market after a holiday helped boost prices, analysts said.
* Oil prices settled a shade firmer on Wednesday, easing from one-month highs, as support from an outage at the largest UK North Sea oilfield was offset by a surprise increase in U.S. crude inventories to a record high limited price gains.
MARKET NEWS
* U.S. stocks turned negative and the dollar slipped on Wednesday after minutes from the Federal Reserve showed planned changes in its bond investment policy, reversing a rally spurred by a strong jobs report earlier in the day.
RELATED
> Malaysia worried EU resolution could dent palm oil exports
> Bumper soy harvest likely pulled Brazil out of recession in Q1
> EU clears ChemChina's $43 bln takeover of Syngenta with conditions
> S.Korea's NOFI tenders for palm kernel and copra meal- trade
> Malaysia palm oil output likely jumped in March -survey
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia’s Mar 1-31 palm oil export data on Apr 10.
> Cargo surveyor SGS releases Malaysia’s Mar 1-31 palm oil export data on Apr 10.
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 5392 +42.00 5380 5434 180640
CHINA SOYOIL SEP7 6048 +30.00 6038 6080 152544
CBOT SOY OIL MAY7 31.96 +3.90 31.87 32.01 985
INDIA PALM OIL APR7 523.60 +3.90 523.50 527.4 2149
INDIA SOYOIL APR7 640.15 +1.80 639.9 643.6 12410
NYMEX CRUDE MAY7 50.90 -0.25 50.77 51.00 5442
FUNDAMENTALS
* Malaysian palm oil futures clocked up their biggest daily gains in over five months in late trade on Wednesday, tracking rival edible oils and on a bullish export outlook for April due to Ramadan demand.
* U.S. soybeans rebounded on Wednesday from multi-month lows sparked a day earlier by fears of harvest delays in Argentina, while China's return to the market after a holiday helped boost prices, analysts said.
* Oil prices settled a shade firmer on Wednesday, easing from one-month highs, as support from an outage at the largest UK North Sea oilfield was offset by a surprise increase in U.S. crude inventories to a record high limited price gains.
MARKET NEWS
* U.S. stocks turned negative and the dollar slipped on Wednesday after minutes from the Federal Reserve showed planned changes in its bond investment policy, reversing a rally spurred by a strong jobs report earlier in the day.
RELATED
> Malaysia worried EU resolution could dent palm oil exports
> Bumper soy harvest likely pulled Brazil out of recession in Q1
> EU clears ChemChina's $43 bln takeover of Syngenta with conditions
> S.Korea's NOFI tenders for palm kernel and copra meal- trade
> Malaysia palm oil output likely jumped in March -survey
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia’s Mar 1-31 palm oil export data on Apr 10.
> Cargo surveyor SGS releases Malaysia’s Mar 1-31 palm oil export data on Apr 10.
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 5392 +42.00 5380 5434 180640
CHINA SOYOIL SEP7 6048 +30.00 6038 6080 152544
CBOT SOY OIL MAY7 31.96 +3.90 31.87 32.01 985
INDIA PALM OIL APR7 523.60 +3.90 523.50 527.4 2149
INDIA SOYOIL APR7 640.15 +1.80 639.9 643.6 12410
NYMEX CRUDE MAY7 50.90 -0.25 50.77 51.00 5442