MARKET DEVELOPMENT
Vegoils: Market Factors to Watch Wednesday Feb 25
Vegoils: Market Factors to Watch Wednesday Feb 25
25/02/2015 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Wednesday Feb 25.
FUNDAMENTALS
* Malaysian palm oil futures ended higher on Tuesday, pausing a slide from the previous day's session as weak prices attracted buyers, although poor sentiment from external markets capped gains and kept prices near 2-1/2 week lows.
* Chicago Board of Trade soybeans rose to a six-week high on Tuesday on the potential for increased U.S. demand as world buyers worry about supply disruptions in Brazil because of a trucker strike and rains stalling harvest, traders said.
* Crude oil futures fell on Tuesday as expectations that this week's reports will show U.S. crude inventories rose again countered supportive news of Libyan oilfields being shut.
MARKET NEWS
* U.S. equities rose and bond yields fell after U.S. Federal Reserve Chair Janet Yellen said on Tuesday it would be several months before the Fed expects to boost interest rates, while European equity markets gained after Greece locked in a four-month extension of its financial rescue program.
RELATED
> India's farm ministry seeks cut in oilseed import duty -source
> Will sustainable palm oil surge exclude small farmers? - TRFN
> Truck strike hits Brazil fuel supplies, soy exports
> Russia's domestic wheat prices grow on weak rouble
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's Feb 1-25 palm oil exports on Feb. 25.
Palm, soy and crude oil prices at 0022 GMT
Contract Month Last Change Low High Volume
MY PALM OIL MAR5 0 +0.00 0 0 0
MY PALM OIL APR5 0 +0.00 0 0 0
MY PALM OIL MAY5 0 +0.00 0 0 0
CHINA PALM OLEIN MAY5 0 +0.00 0 0 0
CHINA SOYOIL MAY5 0 +0.00 0 0 0
CBOT SOY OIL MAY5 31.61 -3.90 0.00 0.00 0
INDIA PALM OIL FEB5 452.20 -3.90 450.00 455.70 1186
INDIA SOYOIL APR5 595.00 +4.20 590.00 599.60 48780
NYMEX CRUDE APR5 49.35 +0.07 49.13 49.36 1364
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 ended higher on Tuesday, pausing a slide from the previous day's session as weak prices attracted buyers, although poor sentiment from external markets capped gains and kept prices near 2-1/2 week lows.
* Chicago Board of Trade soybeans rose to a six-week high on Tuesday on the potential for increased U.S. demand as world buyers worry about supply disruptions in Brazil because of a trucker strike and rains stalling harvest, traders said.
* Crude oil futures fell on Tuesday as expectations that this week's reports will show U.S. crude inventories rose again countered supportive news of Libyan oilfields being shut.
MARKET NEWS
* U.S. equities rose and bond yields fell after U.S. Federal Reserve Chair Janet Yellen said on Tuesday it would be several months before the Fed expects to boost interest rates, while European equity markets gained after Greece locked in a four-month extension of its financial rescue program.
RELATED
> India's farm ministry seeks cut in oilseed import duty -source
> Will sustainable palm oil surge exclude small farmers? - TRFN
> Truck strike hits Brazil fuel supplies, soy exports
> Russia's domestic wheat prices grow on weak rouble
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's Feb 1-25 palm oil exports on Feb. 25.
Palm, soy and crude oil prices at 0022 GMT
Contract Month Last Change Low High Volume
MY PALM OIL MAR5 0 +0.00 0 0 0
MY PALM OIL APR5 0 +0.00 0 0 0
MY PALM OIL MAY5 0 +0.00 0 0 0
CHINA PALM OLEIN MAY5 0 +0.00 0 0 0
CHINA SOYOIL MAY5 0 +0.00 0 0 0
CBOT SOY OIL MAY5 31.61 -3.90 0.00 0.00 0
INDIA PALM OIL FEB5 452.20 -3.90 450.00 455.70 1186
INDIA SOYOIL APR5 595.00 +4.20 590.00 599.60 48780
NYMEX CRUDE APR5 49.35 +0.07 49.13 49.36 1364
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