MARKET DEVELOPMENT
VEGOILS-Market Factors To Watch April 13
VEGOILS-Market Factors To Watch April 13
12/04/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures fell on Wednesday, falling to their lowest in six months, tracking weaker overnight soyoil on the Chicago Board of Trade and on concerns about higher output.
* U.S. soybean futures rose nearly 1 percent on Wednesday on bargain buying and short-covering, one day after a U.S. government forecast for record global soy inventories pushed the front contract to its lowest level in a year.
* Oil futures fell on Wednesday, pulling back after eight straight sessions of gains after U.S. crude inventory data suggested the market was still heavily supplied.
MARKET NEWS
* The U.S. dollar turned lower along with Treasury yields and stocks on Wednesday after U.S. President Donald Trump said the dollar is getting too strong and that he would prefer the Federal Reserve keep interest rates low.
RELATED
> EU 2016/17 soybean imports down 4 pct, palm oil down 16 pct
> Syngenta says Mexican remedies for ChemChina deal will not have major impact
> COLUMN-More upside possible for Brazil's already-massive soy crop
> French wheat stocks forecast trimmed on supply revision
> India soybean futures extend gain on higher demand, tighter supply
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 0052 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 5204 -2.00 5180 5210 178584
CHINA SOYOIL SEP7 5932 -18.00 5890 5944 178866
CBOT SOY OIL MAY7 31.34 +4.20 31.24 31.37 871
INDIA PALM OIL APR7 517.90 +4.20 510.20 518 1795
INDIA SOYOIL APR7 636.6 +3.60 631.7 636.6 5180
NYMEX CRUDE MAY7 52.92 -0.19 52.82 52.97 7864
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 fell on Wednesday, falling to their lowest in six months, tracking weaker overnight soyoil on the Chicago Board of Trade and on concerns about higher output.
* U.S. soybean futures rose nearly 1 percent on Wednesday on bargain buying and short-covering, one day after a U.S. government forecast for record global soy inventories pushed the front contract to its lowest level in a year.
* Oil futures fell on Wednesday, pulling back after eight straight sessions of gains after U.S. crude inventory data suggested the market was still heavily supplied.
MARKET NEWS
* The U.S. dollar turned lower along with Treasury yields and stocks on Wednesday after U.S. President Donald Trump said the dollar is getting too strong and that he would prefer the Federal Reserve keep interest rates low.
RELATED
> EU 2016/17 soybean imports down 4 pct, palm oil down 16 pct
> Syngenta says Mexican remedies for ChemChina deal will not have major impact
> COLUMN-More upside possible for Brazil's already-massive soy crop
> French wheat stocks forecast trimmed on supply revision
> India soybean futures extend gain on higher demand, tighter supply
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 0052 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 5204 -2.00 5180 5210 178584
CHINA SOYOIL SEP7 5932 -18.00 5890 5944 178866
CBOT SOY OIL MAY7 31.34 +4.20 31.24 31.37 871
INDIA PALM OIL APR7 517.90 +4.20 510.20 518 1795
INDIA SOYOIL APR7 636.6 +3.60 631.7 636.6 5180
NYMEX CRUDE MAY7 52.92 -0.19 52.82 52.97 7864
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