MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch May 16
VEGOILS-Market Factors to Watch May 16
16/05/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures climbed on Monday as market sentiment rose alongside higher exports figures ahead of festivities, and firm soyoil prices provided support.
* U.S. wheat futures fell more than 2 percent on Monday on chart-based selling, abundant global supplies and seasonal pressure from the approach of harvest, analysts said.
* Oil jumped 2 percent to its highest in more than three weeks on Monday, topping $52 a barrel after Saudi Arabia and Russia said that supply cuts need to last into 2018, a step towards extending an OPEC-led deal to support prices for longer than first agreed.
MARKET NEWS
* Asian stocks are set to rise in opening trade on Tuesday following overnight gains on Wall Street, while oil is set to extend a week-long rally after major producers Saudi Arabia and Russia said supply cuts needed to continue into 2018.
RELATED
> Coal to be India's energy mainstay for next 30 years: policy paper
> Saudi Arabia, Russia push to extend oil output cut until March 2018
> Canada to keep revenue cap on grain shipments by rail -sources
> Platinum to see first market surplus in six years in 2017-JM
> Renegade Ivory Coast soldiers reject government deal to end mutiny
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia’s May 1-20 palm oil export data on May 20.
> Cargo surveyor SGS releases Malaysia’s May 1-20 palm oil export data on May 20.
Palm, soy and crude oil prices at 0037 GMT
Contract Month Last Change Low High Volume
MY PALM OIL JUN7 0 +0.00 0 0 0
MY PALM OIL JUL7 0 +0.00 0 0 0
MY PALM OIL AUG7 0 +0.00 0 0 0
CHINA PALM OLEIN SEP7 5514 +26.00 5484 5522 163798
CHINA SOYOIL SEP7 6040 +58.00 6010 6052 175182
CBOT SOY OIL JUL7 33.14 +5.10 33.04 33.17 618
INDIA PALM OIL MAY7 506.20 +5.10 502.40 507.8 1304
INDIA SOYOIL MAY7 628.8 +3.60 625.1 628.9 5520
NYMEX CRUDE JUN7 48.99 +0.14 48.81 49.11 6874
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 climbed on Monday as market sentiment rose alongside higher exports figures ahead of festivities, and firm soyoil prices provided support.
* U.S. wheat futures fell more than 2 percent on Monday on chart-based selling, abundant global supplies and seasonal pressure from the approach of harvest, analysts said.
* Oil jumped 2 percent to its highest in more than three weeks on Monday, topping $52 a barrel after Saudi Arabia and Russia said that supply cuts need to last into 2018, a step towards extending an OPEC-led deal to support prices for longer than first agreed.
MARKET NEWS
* Asian stocks are set to rise in opening trade on Tuesday following overnight gains on Wall Street, while oil is set to extend a week-long rally after major producers Saudi Arabia and Russia said supply cuts needed to continue into 2018.
RELATED
> Coal to be India's energy mainstay for next 30 years: policy paper
> Saudi Arabia, Russia push to extend oil output cut until March 2018
> Canada to keep revenue cap on grain shipments by rail -sources
> Platinum to see first market surplus in six years in 2017-JM
> Renegade Ivory Coast soldiers reject government deal to end mutiny
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia’s May 1-20 palm oil export data on May 20.
> Cargo surveyor SGS releases Malaysia’s May 1-20 palm oil export data on May 20.
Palm, soy and crude oil prices at 0037 GMT
Contract Month Last Change Low High Volume
MY PALM OIL JUN7 0 +0.00 0 0 0
MY PALM OIL JUL7 0 +0.00 0 0 0
MY PALM OIL AUG7 0 +0.00 0 0 0
CHINA PALM OLEIN SEP7 5514 +26.00 5484 5522 163798
CHINA SOYOIL SEP7 6040 +58.00 6010 6052 175182
CBOT SOY OIL JUL7 33.14 +5.10 33.04 33.17 618
INDIA PALM OIL MAY7 506.20 +5.10 502.40 507.8 1304
INDIA SOYOIL MAY7 628.8 +3.60 625.1 628.9 5520
NYMEX CRUDE JUN7 48.99 +0.14 48.81 49.11 6874
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