MARKET DEVELOPMENT
Vegoils: Market Factors to Watch Tuesday March 10
Vegoils: Market Factors to Watch Tuesday March 10
10/03/2015 (The Star) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Tuesday March 10.
FUNDAMENTALS
* Malaysian palm oil futures fell to a near two-week low on Monday, after planters' estimates showed steady palm output in the second largest producer, countering expectation of a fall.
* U.S. wheat futures rose 1.6 percent on Monday, bouncing off the previous session's contract lows on bargain-hunting and short-covering ahead of a monthly U.S. government crop report.
* Brent prices fell 2 percent on Monday pressured by European Central Bank bond-buying, while U.S. crude rose about 1 percent on a smaller-than-expected build in inventories at the key Cushing oil hub, leading to a narrowing gap between the two benchmarks.
MARKET NEWS
* The U.S. dollar held near multi-year highs on the yen and euro on Tuesday amid starkly different outlooks for global interest rates, while Asian investors braced for more economic news from China.
RELATED
> Coffee hoarding: Vietnamese speculators pressure global deficit
> French maize headed for Asia as export window opens
> China should limit annual grain imports to up to 11 mln tonnes
> Pockets of rain in Ivory Coast offer slight reprieve for cocoa
> INTERVIEW-Poor Ghana output weighing on global cocoa forecasts
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's March 1-10 palm oil exports on March 10.
> Industry regulator the Malaysian Palm Oil Board (MPOB) to release data on Malaysia's end-February palm oil stocks, exports and production on March 10.
Palm, soy and crude oil prices at 0452 GMT
Contract Month Last Change Low High Volume
MY PALM OIL FEB5 2240 -24.00 2230 2254 29
MY PALM OIL MAR5 2228 -19.00 2220 2249 388
MY PALM OIL APR5 2210 -20.00 2202 2222 7986
CHINA PALM OLEIN MAY5 4846 -22.00 4844 4874 180294
CHINA SOYOIL MAY5 5514 -52.00 5508 5562 240078
CBOT SOY OIL MAR5 31.48 -3.50 31.47 31.57 2367
INDIA PALM OIL JAN5 434.90 -3.50 434.00 439.50 488
INDIA SOYOIL FEB5 616.00 -9.00 615.70 624.80 50145
NYMEX CRUDE MAR5 45.06 -0.53 44.35 45.35 25835
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 to a near two-week low on Monday, after planters' estimates showed steady palm output in the second largest producer, countering expectation of a fall.
* U.S. wheat futures rose 1.6 percent on Monday, bouncing off the previous session's contract lows on bargain-hunting and short-covering ahead of a monthly U.S. government crop report.
* Brent prices fell 2 percent on Monday pressured by European Central Bank bond-buying, while U.S. crude rose about 1 percent on a smaller-than-expected build in inventories at the key Cushing oil hub, leading to a narrowing gap between the two benchmarks.
MARKET NEWS
* The U.S. dollar held near multi-year highs on the yen and euro on Tuesday amid starkly different outlooks for global interest rates, while Asian investors braced for more economic news from China.
RELATED
> Coffee hoarding: Vietnamese speculators pressure global deficit
> French maize headed for Asia as export window opens
> China should limit annual grain imports to up to 11 mln tonnes
> Pockets of rain in Ivory Coast offer slight reprieve for cocoa
> INTERVIEW-Poor Ghana output weighing on global cocoa forecasts
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's March 1-10 palm oil exports on March 10.
> Industry regulator the Malaysian Palm Oil Board (MPOB) to release data on Malaysia's end-February palm oil stocks, exports and production on March 10.
Palm, soy and crude oil prices at 0452 GMT
Contract Month Last Change Low High Volume
MY PALM OIL FEB5 2240 -24.00 2230 2254 29
MY PALM OIL MAR5 2228 -19.00 2220 2249 388
MY PALM OIL APR5 2210 -20.00 2202 2222 7986
CHINA PALM OLEIN MAY5 4846 -22.00 4844 4874 180294
CHINA SOYOIL MAY5 5514 -52.00 5508 5562 240078
CBOT SOY OIL MAR5 31.48 -3.50 31.47 31.57 2367
INDIA PALM OIL JAN5 434.90 -3.50 434.00 439.50 488
INDIA SOYOIL FEB5 616.00 -9.00 615.70 624.80 50145
NYMEX CRUDE MAR5 45.06 -0.53 44.35 45.35 25835
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