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MARKET DEVELOPMENT
Palm Oil/Vegoils: Market Factors to Watch April 18 (Friday)
calendar18-04-2014 | linkReuters | Share This Post:

18/04/2014 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Friday.
   
FUNDAMENTALS
* Malaysian palm oil futures eased for the first time in five days on Thursday as investors banked profits after prices hit a three-week high, although optimism of improving food and fuel demand kept stemmed losses.
* U.S. wheat futures firmed on Thursday, supported by short-covering, concerns that a recent cold snap in key growing areas damaged some of the crop and worries that grain shipments from the Black Sea could be disrupted by political unrest in Ukraine, traders said.
* Brent crude oil fell on Thursday, stalling below $100 a barrel after the United States, Russia, Ukraine and the European Union jointly called for an end to the violence in Ukraine, taking some risk premium out of the market, while U.S. oil rose on positive economic data.
           
MARKET NEWS
* Global equity markets rose on Thursday, boosted by solid U.S. economic data and upbeat results from some U.S. companies, including General Electric, while the dollar rose after a joint call by major powers for an end to the fighting in Ukraine.
* 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.      
   
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DATA/EVENTS   
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release Malaysia's April 1-20 palm oil export data on April 21.
   
  Palm, soy and crude oil prices at 0020 GMT
                                                                       
  Contract                      Month    Last   Change     Low    High    Volume
  MY PALM OIL              MAY4       0         +0.00         0         0              0
  MY PALM OIL              JUN4       0        +0.00          0         0              0
  MY PALM OIL              JUL4       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           JUL4   43.59     -0.34    43.44    43.94     50892
  NYMEX CRUDE         MAY4  104.30    +0.54  103.54  104.78  179888
                                                                       
  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