MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch April 1
VEGOILS-Market Factors to Watch April 1
01/04/2015 (Reuters) - The following factors are likely to influence Malaysian other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures edged down on Tuesday as traders took profits after a rally the day before and after Indonesia kept its palm oil export tax at zero for April.
* A double-whammy of U.S. crop reports pegging corn plantings and inventories above traders' estimates knocked down grain futures on Tuesday and fueled forecasts for further price declines.
* Oil fell for a third straight session on Tuesday, with Brent crude tumbling 12 percent for the month, as world powers entered into intense negotiations with Iran for a nuclear deal that could bring more of its oil to an oversupplied market.
MARKET NEWS
* The euro closed out the worst quarter in its 15-year history on Tuesday, slammed by monetary policy changes and worries about Greece, while U.S. stocks retreated a day after posting big gains.
RELATED
> Iowa farmland prices down 7.6 percent in 6 months - survey
> As deadly pig virus wanes, bacon prices shrink
> UPDATE 1-USDA sees corn acres, stocks above expectations, record soy seedings
> Indian soybeans rise on spot demand, rapeseed on concerns about crop damage
> INTERVIEW-Golden Agri sees 2015 palm output at lower end of expectations
DATA/EVENTS
> NIL
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 edged down on Tuesday as traders took profits after a rally the day before and after Indonesia kept its palm oil export tax at zero for April.
* A double-whammy of U.S. crop reports pegging corn plantings and inventories above traders' estimates knocked down grain futures on Tuesday and fueled forecasts for further price declines.
* Oil fell for a third straight session on Tuesday, with Brent crude tumbling 12 percent for the month, as world powers entered into intense negotiations with Iran for a nuclear deal that could bring more of its oil to an oversupplied market.
MARKET NEWS
* The euro closed out the worst quarter in its 15-year history on Tuesday, slammed by monetary policy changes and worries about Greece, while U.S. stocks retreated a day after posting big gains.
RELATED
> Iowa farmland prices down 7.6 percent in 6 months - survey
> As deadly pig virus wanes, bacon prices shrink
> UPDATE 1-USDA sees corn acres, stocks above expectations, record soy seedings
> Indian soybeans rise on spot demand, rapeseed on concerns about crop damage
> INTERVIEW-Golden Agri sees 2015 palm output at lower end of expectations
DATA/EVENTS
> NIL
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