MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch May 18
VEGOILS-Market Factors to Watch May 18
18/05/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures registered the sharpest daily gains in a week, lifted 1.3 percent on Wednesday evening by strong local and overseas demand.
* U.S. wheat futures firmed on Wednesday, supported by a tumbling dollar and unwanted rains heading for the southern Plains growing area, analysts said.
* Oil prices settled at a two-week high on Wednesday after U.S crude inventories declined for the sixth straight week, a positive sign for markets ahead of next week's OPEC meeting, where major oil producers are expected to extend supply cuts.
MARKET NEWS
* Asian stocks fell on Thursday in line with global peers, and the dollar nursed deep losses against the yen as uncertainty mounted over U.S. President Donald Trump's future following reports that he tried to interfere with a federal investigation.
RELATED
> Egypt's higher protein wheat requirement to raise costs, dent French sales
> Chinese company confirms huge UK fertiliser deal
> Flotilla of U.S. crude heads to Asia as OPEC weighs extending cuts
> Russia's Sechin says wants smooth future exit from global oil deal
> Petrobras turnaround could yield first dividend in years in 2017
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 0104 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 5486 -28.00 5480 5572 205140
CHINA SOYOIL SEP7 5992 -26.00 5984 6066 195518
CBOT SOY OIL JUL7 32.81 +4.30 32.78 33.15 5704
INDIA PALM OIL MAY7 513.80 +4.30 510.60 515.3 1330
INDIA SOYOIL MAY7 631.45 +2.55 629.1 631.9 690
NYMEX CRUDE JUN7 48.91 -0.16 48.91 49.13 5837
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 registered the sharpest daily gains in a week, lifted 1.3 percent on Wednesday evening by strong local and overseas demand.
* U.S. wheat futures firmed on Wednesday, supported by a tumbling dollar and unwanted rains heading for the southern Plains growing area, analysts said.
* Oil prices settled at a two-week high on Wednesday after U.S crude inventories declined for the sixth straight week, a positive sign for markets ahead of next week's OPEC meeting, where major oil producers are expected to extend supply cuts.
MARKET NEWS
* Asian stocks fell on Thursday in line with global peers, and the dollar nursed deep losses against the yen as uncertainty mounted over U.S. President Donald Trump's future following reports that he tried to interfere with a federal investigation.
RELATED
> Egypt's higher protein wheat requirement to raise costs, dent French sales
> Chinese company confirms huge UK fertiliser deal
> Flotilla of U.S. crude heads to Asia as OPEC weighs extending cuts
> Russia's Sechin says wants smooth future exit from global oil deal
> Petrobras turnaround could yield first dividend in years in 2017
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 0104 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 5486 -28.00 5480 5572 205140
CHINA SOYOIL SEP7 5992 -26.00 5984 6066 195518
CBOT SOY OIL JUL7 32.81 +4.30 32.78 33.15 5704
INDIA PALM OIL MAY7 513.80 +4.30 510.60 515.3 1330
INDIA SOYOIL MAY7 631.45 +2.55 629.1 631.9 690
NYMEX CRUDE JUN7 48.91 -0.16 48.91 49.13 5837
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