MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch April 17
VEGOILS-Market Factors to Watch April 17
17/04/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures hit a six-month low in evening trade on Friday and were headed for a third consecutive session of declines, weighed down by a stronger ringgit.
* U.S. soybean futures hit a near two-week high on Thursday on bargain buying after the front contract this week fell to its lowest level in a year, and as traders shifted their attention to U.S. planting prospects.
* Oil prices were little changed in modest volume on Thursday, during a week in which crude benchmarks recouped more of March's losses on increased hopes world supply and demand were nearing balance.
MARKET NEWS
* Shares dipped on Monday while the dollar and U.S. bond yields fell after soft U.S. economic data hurt investor sentiment already frayed by worries over North Korea and upcoming French elections.
RELATED
> Chevron exploring sale of Canada oil sands stake worth about $2.5 bln -sources
> Brazil gov't mulls letting Petrobras back out of pre-salt bids
> China's robust commodity imports as good as it gets, for now: Russell
> U.S. weather forecaster sees chance of El Niño later this year
> Bird flu redirects trade flow of U.S. chicken, eggs, grains
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia’s Apr 1-20 palm oil export data on Apr 20.
> Cargo surveyor SGS releases Malaysia’s Apr 1-20 palm oil export data on Apr 20.
Palm, soy and crude oil prices at 0050 GMT
Contract Month Last Change Low High Volume
MY PALM OIL MAY7 0 +0.00 0 0 0
MY PALM OIL JUN7 0 +0.00 0 0 0
MY PALM OIL JUL7 0 +0.00 0 0 0
CHINA PALM OLEIN SEP7 5238 +32.00 5212 5244 142320
CHINA SOYOIL SEP7 5982 +36.00 5942 5992 172894
CBOT SOY OIL MAY7 31.42 -0.10 31.3 31.48 1450
INDIA PALM OIL APR7 517.00 -0.10 514.70 521.5 1818
INDIA SOYOIL APR7 634.8 -1.45 632.5 638.6 3340
NYMEX CRUDE MAY7 52.98 -0.20 52.88 53.08 4884
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 hit a six-month low in evening trade on Friday and were headed for a third consecutive session of declines, weighed down by a stronger ringgit.
* U.S. soybean futures hit a near two-week high on Thursday on bargain buying after the front contract this week fell to its lowest level in a year, and as traders shifted their attention to U.S. planting prospects.
* Oil prices were little changed in modest volume on Thursday, during a week in which crude benchmarks recouped more of March's losses on increased hopes world supply and demand were nearing balance.
MARKET NEWS
* Shares dipped on Monday while the dollar and U.S. bond yields fell after soft U.S. economic data hurt investor sentiment already frayed by worries over North Korea and upcoming French elections.
RELATED
> Chevron exploring sale of Canada oil sands stake worth about $2.5 bln -sources
> Brazil gov't mulls letting Petrobras back out of pre-salt bids
> China's robust commodity imports as good as it gets, for now: Russell
> U.S. weather forecaster sees chance of El Niño later this year
> Bird flu redirects trade flow of U.S. chicken, eggs, grains
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia’s Apr 1-20 palm oil export data on Apr 20.
> Cargo surveyor SGS releases Malaysia’s Apr 1-20 palm oil export data on Apr 20.
Palm, soy and crude oil prices at 0050 GMT
Contract Month Last Change Low High Volume
MY PALM OIL MAY7 0 +0.00 0 0 0
MY PALM OIL JUN7 0 +0.00 0 0 0
MY PALM OIL JUL7 0 +0.00 0 0 0
CHINA PALM OLEIN SEP7 5238 +32.00 5212 5244 142320
CHINA SOYOIL SEP7 5982 +36.00 5942 5992 172894
CBOT SOY OIL MAY7 31.42 -0.10 31.3 31.48 1450
INDIA PALM OIL APR7 517.00 -0.10 514.70 521.5 1818
INDIA SOYOIL APR7 634.8 -1.45 632.5 638.6 3340
NYMEX CRUDE MAY7 52.98 -0.20 52.88 53.08 4884
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