MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch May 9
VEGOILS-Market Factors to Watch May 9
09/05/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures rose on Monday, climbed for their third consecutive session, on expectations of solid demand ahead of Ramadan festivities.
* U.S. wheat futures fell about 2 percent to a one-week low on Monday, and corn and soybeans also declined on prospects for improving crop weather in the Midwest and Plains, analysts said.
* Oil prices rose on Monday in volatile trading, bolstered by statements from major oil-producing countries suggesting that OPEC and non-OPEC supply cuts could be extended into 2018.
MARKET NEWS
* Stocks were little changed on Monday and the euro fell from a six-month high hit after pro-EU centrist Emmanuel Macron's victory in France's presidential election, as traders cashed in recent gains.
RELATED
> POLL-U.S. corn planting seen 44 pct complete, behind average
> Mississippi River near St. Louis expected to reopen -Coast Guard
> Inadequate rain in Ivory Coast seen shortening cocoa mid-crop
> COLUMN-Funds pull back on bearish views in grains, but trend may not last -Braun
> China April soy imports set record high for month; rise to 8.02 mln tonnes
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 0009 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 5332 +14.00 5322 5356 149782
CHINA SOYOIL SEP7 5882 -20.00 5876 5912 149076
CBOT SOY OIL JUL7 33 -1.20 32.91 33 260
INDIA PALM OIL MAY7 494.10 -1.20 492.60 501.3 1872
INDIA SOYOIL MAY7 624.05 +0.10 617 628 11890
NYMEX CRUDE JUN7 46.57 +0.14 46.45 46.61 9881
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 Monday, climbed for their third consecutive session, on expectations of solid demand ahead of Ramadan festivities.
* U.S. wheat futures fell about 2 percent to a one-week low on Monday, and corn and soybeans also declined on prospects for improving crop weather in the Midwest and Plains, analysts said.
* Oil prices rose on Monday in volatile trading, bolstered by statements from major oil-producing countries suggesting that OPEC and non-OPEC supply cuts could be extended into 2018.
MARKET NEWS
* Stocks were little changed on Monday and the euro fell from a six-month high hit after pro-EU centrist Emmanuel Macron's victory in France's presidential election, as traders cashed in recent gains.
RELATED
> POLL-U.S. corn planting seen 44 pct complete, behind average
> Mississippi River near St. Louis expected to reopen -Coast Guard
> Inadequate rain in Ivory Coast seen shortening cocoa mid-crop
> COLUMN-Funds pull back on bearish views in grains, but trend may not last -Braun
> China April soy imports set record high for month; rise to 8.02 mln tonnes
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 0009 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 5332 +14.00 5322 5356 149782
CHINA SOYOIL SEP7 5882 -20.00 5876 5912 149076
CBOT SOY OIL JUL7 33 -1.20 32.91 33 260
INDIA PALM OIL MAY7 494.10 -1.20 492.60 501.3 1872
INDIA SOYOIL MAY7 624.05 +0.10 617 628 11890
NYMEX CRUDE JUN7 46.57 +0.14 46.45 46.61 9881
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