MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch April 27
VEGOILS-Market Factors to Watch April 27
27/04/2015 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures failed to hold on to early gains and ended lower on Friday due to a strong ringgit, but anticipation over firm demand limited losses and lifted the tropical oil to its second straight weekly rise.
* U.S. corn futures dropped to a five-month low on Friday in a fifth straight losing session on expectations for a rapid advance in corn planting as forecasters expect mostly clear weather across the Midwest in the coming days.
* Oil prices diverged on Friday, with Brent hitting 4-1/2-month highs on continued fighting in Yemen as U.S. crude fell on concerns of another upcoming stock build, though both benchmarks headed toward weekly gains.
MARKET NEWS
* Equity markets worldwide climbed to record highs on Friday as solid corporate earnings and an all-time peak for the Nasdaq stock index stoked investor optimism, while the dollar eased on gloomy U.S. economic data.
RELATED
> More cattle placed in U.S. feedlots in March than expected
> Brazil trucker strike sputters on second day
> Argentine wheat sowing seen unchanged despite policy optimism
> EU approves first new genetically modified crops since 2013
> Noble Group's head of grain and oilseeds departs
> Chinese farmers to expand 2015/16 corn areas due to high state prices
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's April 1-25 palm oil exports on April 27.
Palm, soy and crude oil prices at 0034 GMT
Contract Month Last Change Low High Volume
MY PALM OIL MAY5 0 +0.00 0 0 0
MY PALM OIL JUN5 0 +0.00 0 0 0
MY PALM OIL JUL5 0 +0.00 0 0 0
CHINA PALM OLEIN SEP5 4868 -26.00 4864 4892 208892
CHINA SOYOIL SEP5 5652 -50.00 5650 5692 281892
CBOT SOY OIL JUL5 31.71 -1.00 31.68 31.81 1367
INDIA PALM OIL APR5 441.90 -1.00 440.60 446.10 718
INDIA SOYOIL JUN5 592.00 -1.70 590.00 596.50 55290
NYMEX CRUDE JUN5 57.20 +0.05 57.10 57.46 2462
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 failed to hold on to early gains and ended lower on Friday due to a strong ringgit, but anticipation over firm demand limited losses and lifted the tropical oil to its second straight weekly rise.
* U.S. corn futures dropped to a five-month low on Friday in a fifth straight losing session on expectations for a rapid advance in corn planting as forecasters expect mostly clear weather across the Midwest in the coming days.
* Oil prices diverged on Friday, with Brent hitting 4-1/2-month highs on continued fighting in Yemen as U.S. crude fell on concerns of another upcoming stock build, though both benchmarks headed toward weekly gains.
MARKET NEWS
* Equity markets worldwide climbed to record highs on Friday as solid corporate earnings and an all-time peak for the Nasdaq stock index stoked investor optimism, while the dollar eased on gloomy U.S. economic data.
RELATED
> More cattle placed in U.S. feedlots in March than expected
> Brazil trucker strike sputters on second day
> Argentine wheat sowing seen unchanged despite policy optimism
> EU approves first new genetically modified crops since 2013
> Noble Group's head of grain and oilseeds departs
> Chinese farmers to expand 2015/16 corn areas due to high state prices
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's April 1-25 palm oil exports on April 27.
Palm, soy and crude oil prices at 0034 GMT
Contract Month Last Change Low High Volume
MY PALM OIL MAY5 0 +0.00 0 0 0
MY PALM OIL JUN5 0 +0.00 0 0 0
MY PALM OIL JUL5 0 +0.00 0 0 0
CHINA PALM OLEIN SEP5 4868 -26.00 4864 4892 208892
CHINA SOYOIL SEP5 5652 -50.00 5650 5692 281892
CBOT SOY OIL JUL5 31.71 -1.00 31.68 31.81 1367
INDIA PALM OIL APR5 441.90 -1.00 440.60 446.10 718
INDIA SOYOIL JUN5 592.00 -1.70 590.00 596.50 55290
NYMEX CRUDE JUN5 57.20 +0.05 57.10 57.46 2462
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