MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch May 3
VEGOILS-Market Factors to Watch May 3
03/05/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures rose on Tuesday evening in their second consecutive day of gains, helped by strong export data and firmer soyoil prices.
* Chicago Board of Trade wheat futures eased on Tuesday, partially retreating from a sharp rally on some profit-taking, traders said.
* Crude oil prices bounced back on Wednesday as a decline in U.S. inventories underpinned the market, although a dip in compliance with OPEC efforts to reduce output capped gains.
MARKET NEWS
* A measure of stocks across major markets globally inched up to a record high on Tuesday, lifted by gains in Europe amid corporate and economic strength, while crude futures tumbled as prices breached key technical levels.
RELATED
> ADM shares dive 9 pct after warning about global grain glut
> Dow, Dupont planned merger gets conditional nod from China
> Brazil's JBS imports fresh beef from U.S. for first time
> U.S. Commerce chief extends Mexico sugar deadline, sees impasse
> OPEC oil output falls in April but compliance weakens
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia’s May 1-10 palm oil export data on May 10.
> Cargo surveyor SGS releases Malaysia’s May 1-10 palm oil export data on May 10.
Palm, soy and crude oil prices at 0055 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 5254 +20.00 5230 5258 120482
CHINA SOYOIL SEP7 5900 +18.00 5874 5918 194380
CBOT SOY OIL JUL7 32.68 +0.40 32.64 32.75 767
INDIA PALM OIL MAY7 492.50 +0.40 489.00 494.5 1187
INDIA SOYOIL MAY7 613.1 +2.65 609.15 615 16950
NYMEX CRUDE JUN7 48.09 +0.43 48.04 48.17 9589
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 rose on Tuesday evening in their second consecutive day of gains, helped by strong export data and firmer soyoil prices.
* Chicago Board of Trade wheat futures eased on Tuesday, partially retreating from a sharp rally on some profit-taking, traders said.
* Crude oil prices bounced back on Wednesday as a decline in U.S. inventories underpinned the market, although a dip in compliance with OPEC efforts to reduce output capped gains.
MARKET NEWS
* A measure of stocks across major markets globally inched up to a record high on Tuesday, lifted by gains in Europe amid corporate and economic strength, while crude futures tumbled as prices breached key technical levels.
RELATED
> ADM shares dive 9 pct after warning about global grain glut
> Dow, Dupont planned merger gets conditional nod from China
> Brazil's JBS imports fresh beef from U.S. for first time
> U.S. Commerce chief extends Mexico sugar deadline, sees impasse
> OPEC oil output falls in April but compliance weakens
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia’s May 1-10 palm oil export data on May 10.
> Cargo surveyor SGS releases Malaysia’s May 1-10 palm oil export data on May 10.
Palm, soy and crude oil prices at 0055 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 5254 +20.00 5230 5258 120482
CHINA SOYOIL SEP7 5900 +18.00 5874 5918 194380
CBOT SOY OIL JUL7 32.68 +0.40 32.64 32.75 767
INDIA PALM OIL MAY7 492.50 +0.40 489.00 494.5 1187
INDIA SOYOIL MAY7 613.1 +2.65 609.15 615 16950
NYMEX CRUDE JUN7 48.09 +0.43 48.04 48.17 9589
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