MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch April 24
VEGOILS-Market Factors to Watch April 24
24/04/2014 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil slid 1.2 percent on Wednesday, giving up some of this week's gains due to pressure from improving weather in Southeast Asia and lower prices for rival commodity soybean oil.
* U.S. corn futures advanced for a second straight session on Wednesday, adding more than 1 percent on firm cash markets and as cooler and wetter weather in the central United States stalled planting of the crop in the western corn belt.
* Crude oil futures slipped on Wednesday after weekly data showed U.S. crude inventories hit a record high, though Brent managed to settle above $109 on support from the ongoing crisis in Ukraine.
MARKET NEWS
* Global equity markets rose on Tuesday, lifted by solid U.S. corporate earnings and deal-making activity among European drugmakers, while the euro edged above break-even.
RELATED
> RPT-India to make May-July oil payments to Iran - sources
> UPDATE 1-Explosion rocks natural gas plant in Wyoming, no injuries reported
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release Malaysia's April 1-25 palm oil export data on April 25.
Palm, soy and crude oil prices at 0023 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 42.74 -0.04 42.69 42.76 333
NYMEX CRUDE JUN4 101.56 +0.12 101.48 101.63 794
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 slid 1.2 percent on Wednesday, giving up some of this week's gains due to pressure from improving weather in Southeast Asia and lower prices for rival commodity soybean oil.
* U.S. corn futures advanced for a second straight session on Wednesday, adding more than 1 percent on firm cash markets and as cooler and wetter weather in the central United States stalled planting of the crop in the western corn belt.
* Crude oil futures slipped on Wednesday after weekly data showed U.S. crude inventories hit a record high, though Brent managed to settle above $109 on support from the ongoing crisis in Ukraine.
MARKET NEWS
* Global equity markets rose on Tuesday, lifted by solid U.S. corporate earnings and deal-making activity among European drugmakers, while the euro edged above break-even.
RELATED
> RPT-India to make May-July oil payments to Iran - sources
> UPDATE 1-Explosion rocks natural gas plant in Wyoming, no injuries reported
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release Malaysia's April 1-25 palm oil export data on April 25.
Palm, soy and crude oil prices at 0023 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 42.74 -0.04 42.69 42.76 333
NYMEX CRUDE JUN4 101.56 +0.12 101.48 101.63 794
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