MARKET DEVELOPMENT
VEGOILS-Market Factors To Watch April 7
VEGOILS-Market Factors To Watch April 7
07/04/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures fell on Thursday evening on expectations of a rebound in production, retreating from a one-week high hit in the previous session.
* U.S. wheat futures fell on Thursday on technical selling, hitting their lowest level since last week on a lack of supportive news and plentiful global inventories, analysts said.
* Oil prices rose by 1 percent on Thursday, posting a fourth straight day of gains, but analysts remained cautious about record-high U.S. crude inventories.
MARKET NEWS
* Global equity markets and the dollar edged higher on Thursday, helped by fresh data showing a tighter U.S. labor market, as investors stayed cautious before the first meeting between U.S. President Donald Trump and his Chinese counterpart Xi Jinping.
RELATED
> ADM revamps Argentine grains trading in global shake-up -sources
> U.S. agriculture bets the farm on Chinese soy demand
> Argentina soy harvest gains momentum despite heavy rains
> World food prices back down in March after two-year high - FAO
> EU 2016/17 soybean imports down 8 pct, palm oil down 18 pct
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 0027 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 5360 -46.00 5358 5426 206200
CHINA SOYOIL SEP7 5970 -74.00 5966 6050 212890
CBOT SOY OIL MAY7 31.32 +1.00 31.28 31.33 532
INDIA PALM OIL APR7 524.80 +1.00 522.60 525.9 1299
INDIA SOYOIL APR7 637.15 -3.30 636.4 642.2 11090
NYMEX CRUDE MAY7 51.67 -0.03 51.66 51.77 4290
FUNDAMENTALS
* Malaysian palm oil futures fell on Thursday evening on expectations of a rebound in production, retreating from a one-week high hit in the previous session.
* U.S. wheat futures fell on Thursday on technical selling, hitting their lowest level since last week on a lack of supportive news and plentiful global inventories, analysts said.
* Oil prices rose by 1 percent on Thursday, posting a fourth straight day of gains, but analysts remained cautious about record-high U.S. crude inventories.
MARKET NEWS
* Global equity markets and the dollar edged higher on Thursday, helped by fresh data showing a tighter U.S. labor market, as investors stayed cautious before the first meeting between U.S. President Donald Trump and his Chinese counterpart Xi Jinping.
RELATED
> ADM revamps Argentine grains trading in global shake-up -sources
> U.S. agriculture bets the farm on Chinese soy demand
> Argentina soy harvest gains momentum despite heavy rains
> World food prices back down in March after two-year high - FAO
> EU 2016/17 soybean imports down 8 pct, palm oil down 18 pct
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 0027 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 5360 -46.00 5358 5426 206200
CHINA SOYOIL SEP7 5970 -74.00 5966 6050 212890
CBOT SOY OIL MAY7 31.32 +1.00 31.28 31.33 532
INDIA PALM OIL APR7 524.80 +1.00 522.60 525.9 1299
INDIA SOYOIL APR7 637.15 -3.30 636.4 642.2 11090
NYMEX CRUDE MAY7 51.67 -0.03 51.66 51.77 4290