MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch April 18
VEGOILS-Market Factors to Watch April 18
18/04/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures lost early gains, sliding to an eight-month low in late trade on Monday, weighed down by expectations of rising output in top producers Malaysia and Indonesia.
* U.S. wheat futures fell on Monday as rains and mild temperatures in key growing areas of the U.S. Midwest and Plains bolstered expectations for harvest, traders said.
* Crude oil prices slipped 1 percent on Monday in subdued trading after a long Easter holiday weekend, on news of rising U.S. shale production and profit-taking following three straight weeks of gains.
MARKET NEWS
* U.S. stocks rose after three straight sessions of losses as investors shifted their focus to earnings and the greenback steadied after Treasury Secretary Steven Mnuchin said dollar strength is good over long periods of time.
RELATED
> Blackstone to buy EagleClaw Midstream for about $2 bln
> Duterte reappoints Philippine mining minister
> ANALYSIS-Undaunted by oil bust, financiers pour billions into U.S. shale
> China cuts 2017 corn acreage 4 pct in bid to tackle giant stockpiles
> Turkmenistan invites bids for second potash plant construction
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 0039 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 5240 -4.00 5204 5260 174456
CHINA SOYOIL SEP7 5984 -2.00 5932 6010 252972
CBOT SOY OIL MAY7 31.8 -2.90 31.72 31.83 1112
INDIA PALM OIL APR7 513.90 -2.90 505.40 519.9 2183
INDIA SOYOIL APR7 635.2 +1.40 630 636.85 8160
NYMEX CRUDE MAY7 52.64 -0.01 52.63 52.76 1664
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 lost early gains, sliding to an eight-month low in late trade on Monday, weighed down by expectations of rising output in top producers Malaysia and Indonesia.
* U.S. wheat futures fell on Monday as rains and mild temperatures in key growing areas of the U.S. Midwest and Plains bolstered expectations for harvest, traders said.
* Crude oil prices slipped 1 percent on Monday in subdued trading after a long Easter holiday weekend, on news of rising U.S. shale production and profit-taking following three straight weeks of gains.
MARKET NEWS
* U.S. stocks rose after three straight sessions of losses as investors shifted their focus to earnings and the greenback steadied after Treasury Secretary Steven Mnuchin said dollar strength is good over long periods of time.
RELATED
> Blackstone to buy EagleClaw Midstream for about $2 bln
> Duterte reappoints Philippine mining minister
> ANALYSIS-Undaunted by oil bust, financiers pour billions into U.S. shale
> China cuts 2017 corn acreage 4 pct in bid to tackle giant stockpiles
> Turkmenistan invites bids for second potash plant construction
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 0039 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 5240 -4.00 5204 5260 174456
CHINA SOYOIL SEP7 5984 -2.00 5932 6010 252972
CBOT SOY OIL MAY7 31.8 -2.90 31.72 31.83 1112
INDIA PALM OIL APR7 513.90 -2.90 505.40 519.9 2183
INDIA SOYOIL APR7 635.2 +1.40 630 636.85 8160
NYMEX CRUDE MAY7 52.64 -0.01 52.63 52.76 1664
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