MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch May 17
VEGOILS-Market Factors to Watch May 17
17/05/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures edged up a fraction on Tuesday as the market rebounded from earlier profit taking, driven by a drop in production figures.
* U.S. soybean futures rose 1.1 percent on Tuesday, supported by strong export demand for U.S. supplies despite a massive crop from South American producers Brazil and Argentina.
* Oil prices fell 1 percent on Wednesday after data showed an increase in U.S. crude inventories, stoking concerns that markets remain oversupplied despite efforts by top producers Saudi Arabia and Russia to cut output.
MARKET NEWS
* U.S. share futures and the dollar slipped in early Asian trade on Wednesday after reports that President Donald Trump asked then-FBI Director James Comey to end a probe into his former security adviser.
RELATED
> JBS delays but does not give up on U.S. IPO plan
> Global oil market rebalancing speeds up, inventories lag - IEA
> Oil output spike brightens North Sea's twilight years
> Elliott increases pressure on BHP to ditch petroleum
> TrailStone's bid for Cargill's power, gas book falls through -sources
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 0055 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 5504 +10.00 5482 5526 209030
CHINA SOYOIL SEP7 6012 -18.00 6002 6036 168826
CBOT SOY OIL JUL7 33.05 +3.80 32.97 33.06 865
INDIA PALM OIL MAY7 510.00 +3.80 504.10 512 1455
INDIA SOYOIL MAY7 629.3 +0.80 627.2 630.4 2570
NYMEX CRUDE JUN7 48.04 -0.62 48.03 48.35 15375
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 edged up a fraction on Tuesday as the market rebounded from earlier profit taking, driven by a drop in production figures.
* U.S. soybean futures rose 1.1 percent on Tuesday, supported by strong export demand for U.S. supplies despite a massive crop from South American producers Brazil and Argentina.
* Oil prices fell 1 percent on Wednesday after data showed an increase in U.S. crude inventories, stoking concerns that markets remain oversupplied despite efforts by top producers Saudi Arabia and Russia to cut output.
MARKET NEWS
* U.S. share futures and the dollar slipped in early Asian trade on Wednesday after reports that President Donald Trump asked then-FBI Director James Comey to end a probe into his former security adviser.
RELATED
> JBS delays but does not give up on U.S. IPO plan
> Global oil market rebalancing speeds up, inventories lag - IEA
> Oil output spike brightens North Sea's twilight years
> Elliott increases pressure on BHP to ditch petroleum
> TrailStone's bid for Cargill's power, gas book falls through -sources
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 0055 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 5504 +10.00 5482 5526 209030
CHINA SOYOIL SEP7 6012 -18.00 6002 6036 168826
CBOT SOY OIL JUL7 33.05 +3.80 32.97 33.06 865
INDIA PALM OIL MAY7 510.00 +3.80 504.10 512 1455
INDIA SOYOIL MAY7 629.3 +0.80 627.2 630.4 2570
NYMEX CRUDE JUN7 48.04 -0.62 48.03 48.35 15375
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