VEGOILS-Market Factors To Watch April 12
FUNDAMENTALS
* Malaysian palm oil futures rebounded from a six-month low in late trade on Tuesday, snapping three earlier sessions of losses to gain on rising demand and tracking stronger-performing related oils.
* U.S. soybean futures fell to the lowest levels in a year on Tuesday after the U.S. Department of Agriculture raised its estimates of South American crops and domestic soy ending stocks.
* Crude oil prices turned positive on Tuesday, reversing course on reports that Saudi Arabia has told OPEC officials it wants to continue output cuts for an additional six months.
MARKET NEWS
* Investors ducked for cover on Wednesday as a drumbeat of alarming geopolitical news sent the safe-haven yen and gold to five-month highs and yields on top-rated sovereign bonds to their lowest for the year so far.
RELATED
> ANALYSIS-Brazil farmers 'hope for a miracle,' hoard soybeans
> Argentina's soy, corn harvest forecast to get help from sunny days ahead
> USDA raises outlook for global soy, grain supplies
> USDA slightly lowers forecast for domestic sugar supplies
> Brazil raises soy crop view for fourth time this year to 110.2 mln t
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia’s Apr 1-15 palm oil export data on Apr 15.
> Cargo surveyor SGS releases Malaysia’s Apr 1-15 palm oil export data on Apr 15.
Palm, soy and crude oil prices at 0101 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 5206 -12.00 5158 5262 317768
CHINA SOYOIL SEP7 5962 -34.00 5908 6028 337980
CBOT SOY OIL MAY7 31.27 +1.50 31.1 31.27 5349
INDIA PALM OIL APR7 514.10 +1.50 511.50 517.2 1446
INDIA SOYOIL APR7 633.85 +1.00 631.65 636.3 7710
NYMEX CRUDE MAY7 53.55 +0.15 53.35 53.57 9105
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