MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch April 27
VEGOILS-Market Factors to Watch April 27
27/04/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil rebounded from earlier losses on Wednesday evening, rising for a third session in four as it was lifted by stronger performing soyoil and in a technical correction.
* U.S. corn futures fell more than 1 percent Wednesday on forecasts for better Midwest planting weather and news that the White House is considering an executive order on withdrawing from North American Free Trade Agreement, analysts said.
* Oil prices rebounded from early losses on Wednesday after U.S. government data showed a larger-than-expected falloff in crude inventories, which encouraged buying after several days of selling on worries that a global crude glut was persisting despite output cuts by producing countries.
MARKET NEWS
* Asian shares ticked down from near two-year high on Thursday after a long-awaited U.S. tax plan failed to inspire investors, though sentiment remains supported by global growth prospects and receding worries about political risks in Europe.
RELATED
> U.S. lawmakers launch fresh bid to reform biodiesel tax credit
> S. Africa considers strategic grain reserve as possible El Nino looms
> S.Korea's NOFI gets offers in palm kernel and copra meal tender
> Canada's CPPIB pension fund plans farmland retreat -sources
> India govt think-tank backs local GM crop policy
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia’s Apr 1-30 palm oil export data on May 1.
> Cargo surveyor SGS releases Malaysia’s Apr 1-30 palm oil export data on May 1.
Palm, soy and crude oil prices at 0053 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 5198 +90.00 5134 5200 210904
CHINA SOYOIL SEP7 5880 +46.00 5844 5890 233166
CBOT SOY OIL JUL7 32.25 +2.00 32.15 32.25 1905
INDIA PALM OIL APR7 518.50 +2.00 516.30 518.5 323
INDIA SOYOIL MAY7 615 +2.40 609.8 615 27080
NYMEX CRUDE JUN7 49.38 -0.24 49.18 49.40 5189
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 rebounded from earlier losses on Wednesday evening, rising for a third session in four as it was lifted by stronger performing soyoil and in a technical correction.
* U.S. corn futures fell more than 1 percent Wednesday on forecasts for better Midwest planting weather and news that the White House is considering an executive order on withdrawing from North American Free Trade Agreement, analysts said.
* Oil prices rebounded from early losses on Wednesday after U.S. government data showed a larger-than-expected falloff in crude inventories, which encouraged buying after several days of selling on worries that a global crude glut was persisting despite output cuts by producing countries.
MARKET NEWS
* Asian shares ticked down from near two-year high on Thursday after a long-awaited U.S. tax plan failed to inspire investors, though sentiment remains supported by global growth prospects and receding worries about political risks in Europe.
RELATED
> U.S. lawmakers launch fresh bid to reform biodiesel tax credit
> S. Africa considers strategic grain reserve as possible El Nino looms
> S.Korea's NOFI gets offers in palm kernel and copra meal tender
> Canada's CPPIB pension fund plans farmland retreat -sources
> India govt think-tank backs local GM crop policy
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia’s Apr 1-30 palm oil export data on May 1.
> Cargo surveyor SGS releases Malaysia’s Apr 1-30 palm oil export data on May 1.
Palm, soy and crude oil prices at 0053 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 5198 +90.00 5134 5200 210904
CHINA SOYOIL SEP7 5880 +46.00 5844 5890 233166
CBOT SOY OIL JUL7 32.25 +2.00 32.15 32.25 1905
INDIA PALM OIL APR7 518.50 +2.00 516.30 518.5 323
INDIA SOYOIL MAY7 615 +2.40 609.8 615 27080
NYMEX CRUDE JUN7 49.38 -0.24 49.18 49.40 5189
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