MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch May 19
VEGOILS-Market Factors to Watch May 19
19/05/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures fell on Thursday evening, tracking weaker soyoil on the Chicago Board of Trade and other related edible oils on China's Dalian Commodity Exchange.
* U.S. soybean futures fell more than 3 percent on Thursday as a plunge in the value of Brazil's currency encouraged Brazilian farmers to step up sales from their record-large harvest, analysts said.
* Oil futures rose in early trading on Friday on growing optimism that big producing countries will extend output cuts to curb a persistent glut in crude, with key benchmarks heading for a second week of gains.
MARKET NEWS
* Wall Street rebounded on Thursday from its biggest sell-off in more than eight months, helped by strong U.S. economic data, but uncertainty over U.S. President Donald Trump's agenda kept an index of global equity markets near a three-week low.
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> Guest view: U.S. energy independence is flawed aim
> Russian gold producer GV Gold may consider IPO next year - CEO
> Mexico buys cheaper Brazil corn as NAFTA talks loom -official
> Strategie Grains cuts EU 2017 forecasts after dry, cold weather
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 0045 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 5494 -20.00 5416 5518 294898
CHINA SOYOIL SEP7 5966 -52.00 5912 5990 280934
CBOT SOY OIL JUL7 32.46 -0.80 32.42 32.5 1115
INDIA PALM OIL MAY7 513.00 -0.80 511.00 515.9 2103
INDIA SOYOIL MAY7 631 -0.15 631 632.5 2990
NYMEX CRUDE JUN7 49.46 +0.11 49.28 49.50 1694
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 fell on Thursday evening, tracking weaker soyoil on the Chicago Board of Trade and other related edible oils on China's Dalian Commodity Exchange.
* U.S. soybean futures fell more than 3 percent on Thursday as a plunge in the value of Brazil's currency encouraged Brazilian farmers to step up sales from their record-large harvest, analysts said.
* Oil futures rose in early trading on Friday on growing optimism that big producing countries will extend output cuts to curb a persistent glut in crude, with key benchmarks heading for a second week of gains.
MARKET NEWS
* Wall Street rebounded on Thursday from its biggest sell-off in more than eight months, helped by strong U.S. economic data, but uncertainty over U.S. President Donald Trump's agenda kept an index of global equity markets near a three-week low.
RELATED
> Halliburton's incoming CEO sees significant price hike
> Guest view: U.S. energy independence is flawed aim
> Russian gold producer GV Gold may consider IPO next year - CEO
> Mexico buys cheaper Brazil corn as NAFTA talks loom -official
> Strategie Grains cuts EU 2017 forecasts after dry, cold weather
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 0045 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 5494 -20.00 5416 5518 294898
CHINA SOYOIL SEP7 5966 -52.00 5912 5990 280934
CBOT SOY OIL JUL7 32.46 -0.80 32.42 32.5 1115
INDIA PALM OIL MAY7 513.00 -0.80 511.00 515.9 2103
INDIA SOYOIL MAY7 631 -0.15 631 632.5 2990
NYMEX CRUDE JUN7 49.46 +0.11 49.28 49.50 1694
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