MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch May 25
VEGOILS-Market Factors to Watch May 25
25/05/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures fell more than 1 percent on Wednesday evening, dipping to their lowest in nearly three weeks, as they tracked weaker-performing soyoil on the Chicago Board of Trade and China's Dalian Commodity Exchange.
* Chicago wheat futures closed higher on Wednesday on light short covering, one day after the spot contract fell about 1 percent on better-than-expected U.S. wheat condition ratings.
* Oil prices retreated slightly Wednesday as investors reacted to a smaller-than-expected U.S. gasoline stocks draw as they awaited the outcome of discussions in Vienna between OPEC and other oil-exporting countries on whether to extend output cuts.
MARKET NEWS
* Asian shares eked out modest gains on Thursday while the dollar and U.S. bond yields slipped after the U.S. Federal Reserve signalled a cautious approach to future rate hikes and the reduction of its $4.5 trillion of bond holdings.
RELATED
> Bunge shares touch 22-month high as consolidation talk swirls
> Argentina estimates 2016-17 soy crop at 58 mln tonnes
> Kremlin says in talks with Turkey after new curbs on Russian wheat
> POLL-U.S. April cattle placements seen up 6.8 pct vs year ago -analysts
> Glencore looking to expand agriculture business -CEO
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia’s May 1-25 palm oil export data on May 25.
> Cargo surveyor SGS releases Malaysia’s May 1-25 palm oil export data on May 25.
Palm, soy and crude oil prices at 0052 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 5438 -22.00 5434 5468 110276
CHINA SOYOIL SEP7 5906 -16.00 5906 5940 113284
CBOT SOY OIL JUL7 32.33 -5.20 32.27 32.34 802
INDIA PALM OIL MAY7 520.00 -5.20 518.60 524.2 1144
INDIA SOYOIL JUN7 631.5 -5.00 630.5 634.1 23760
NYMEX CRUDE JUL7 51.72 +0.36 51.25 51.75 12639
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 more than 1 percent on Wednesday evening, dipping to their lowest in nearly three weeks, as they tracked weaker-performing soyoil on the Chicago Board of Trade and China's Dalian Commodity Exchange.
* Chicago wheat futures closed higher on Wednesday on light short covering, one day after the spot contract fell about 1 percent on better-than-expected U.S. wheat condition ratings.
* Oil prices retreated slightly Wednesday as investors reacted to a smaller-than-expected U.S. gasoline stocks draw as they awaited the outcome of discussions in Vienna between OPEC and other oil-exporting countries on whether to extend output cuts.
MARKET NEWS
* Asian shares eked out modest gains on Thursday while the dollar and U.S. bond yields slipped after the U.S. Federal Reserve signalled a cautious approach to future rate hikes and the reduction of its $4.5 trillion of bond holdings.
RELATED
> Bunge shares touch 22-month high as consolidation talk swirls
> Argentina estimates 2016-17 soy crop at 58 mln tonnes
> Kremlin says in talks with Turkey after new curbs on Russian wheat
> POLL-U.S. April cattle placements seen up 6.8 pct vs year ago -analysts
> Glencore looking to expand agriculture business -CEO
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia’s May 1-25 palm oil export data on May 25.
> Cargo surveyor SGS releases Malaysia’s May 1-25 palm oil export data on May 25.
Palm, soy and crude oil prices at 0052 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 5438 -22.00 5434 5468 110276
CHINA SOYOIL SEP7 5906 -16.00 5906 5940 113284
CBOT SOY OIL JUL7 32.33 -5.20 32.27 32.34 802
INDIA PALM OIL MAY7 520.00 -5.20 518.60 524.2 1144
INDIA SOYOIL JUN7 631.5 -5.00 630.5 634.1 23760
NYMEX CRUDE JUL7 51.72 +0.36 51.25 51.75 12639
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