MARKET DEVELOPMENT
Palm oil/Vegoils: Market factors to watch April 15 (Tuesday)
Palm oil/Vegoils: Market factors to watch April 15 (Tuesday)
15/04/2014 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Tuesday.
FUNDAMENTALS
* Malaysian palm oil futures rose to their highest in more than a week on Monday, lifted by strong crude and soy oil markets overseas, and on investor anticipation that festival-driven consumption will stoke demand for the tropical oil.
* U.S. wheat futures surged nearly 3 percent on Monday as traders responded to fresh tensions in the Black Sea region, coupled with the threat of freeze damage to crops in the U.S. Plains.
* Brent crude oil rose more than $1.50 on Monday as tensions escalated in Ukraine, while U.S. crude rose modestly after positive retail sales data signaled a rebound in the U.S. economy.
MARKET NEWS
* Global equities rose on Monday as robust U.S. retail sales data signaled economic growth, while the euro fell after the European Central Bank gave its strongest signal yet that it would ease policy to cool the single currency.
* Commodities had the best quarter in 18 months as trading for March ended on Monday, with weather and economic growth likely to determine if gas, gold, grains, lean hogs and coffee continue going higher and draw money into the space.
RELATED
> India to expand irrigation by a tenth to cut monsoon reliance
> Japan utilities' coal, gas use hit record in 2013/14
> Oil traffic may delay U.S. fertilizer shipments, farmers warn
> Ivory Coast abundant rains to extend cocoa mid-crop
> Small delivery tonnage seen against May white sugar expiry
> U.S. generation of ethanol blending credits rises in March -EPA
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance will release Malaysia's April 1-15 palm oil export data on April 15.
Palm, soy and crude oil prices at 2355 GMT
Contract Month Last Change Low High Volume
MY PALM OIL APR4 0 +0.00 0 0 0
MY PALM OIL MAY4 0 +0.00 0 0 0
MY PALM OIL JUN4 0 +0.00 0 0 0
CHINA PALM OLEIN SEP4 0 +0.00 0 0 0
CHINA SOYOIL SEP4 0 +0.00 0 0 0
CBOT SOY OIL MAY4 42.26 +0.00 0.00 0.00 0
NYMEX CRUDE MAY4 103.49 -0.56 103.45 103.65 708
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
Crude in U.S. dollars per barrel
FUNDAMENTALS
* Malaysian palm oil futures rose to their highest in more than a week on Monday, lifted by strong crude and soy oil markets overseas, and on investor anticipation that festival-driven consumption will stoke demand for the tropical oil.
* U.S. wheat futures surged nearly 3 percent on Monday as traders responded to fresh tensions in the Black Sea region, coupled with the threat of freeze damage to crops in the U.S. Plains.
* Brent crude oil rose more than $1.50 on Monday as tensions escalated in Ukraine, while U.S. crude rose modestly after positive retail sales data signaled a rebound in the U.S. economy.
MARKET NEWS
* Global equities rose on Monday as robust U.S. retail sales data signaled economic growth, while the euro fell after the European Central Bank gave its strongest signal yet that it would ease policy to cool the single currency.
* Commodities had the best quarter in 18 months as trading for March ended on Monday, with weather and economic growth likely to determine if gas, gold, grains, lean hogs and coffee continue going higher and draw money into the space.
RELATED
> India to expand irrigation by a tenth to cut monsoon reliance
> Japan utilities' coal, gas use hit record in 2013/14
> Oil traffic may delay U.S. fertilizer shipments, farmers warn
> Ivory Coast abundant rains to extend cocoa mid-crop
> Small delivery tonnage seen against May white sugar expiry
> U.S. generation of ethanol blending credits rises in March -EPA
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance will release Malaysia's April 1-15 palm oil export data on April 15.
Palm, soy and crude oil prices at 2355 GMT
Contract Month Last Change Low High Volume
MY PALM OIL APR4 0 +0.00 0 0 0
MY PALM OIL MAY4 0 +0.00 0 0 0
MY PALM OIL JUN4 0 +0.00 0 0 0
CHINA PALM OLEIN SEP4 0 +0.00 0 0 0
CHINA SOYOIL SEP4 0 +0.00 0 0 0
CBOT SOY OIL MAY4 42.26 +0.00 0.00 0.00 0
NYMEX CRUDE MAY4 103.49 -0.56 103.45 103.65 708
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
Crude in U.S. dollars per barrel