MARKET DEVELOPMENT
Vegoils: Market Factors to Watch Tuesday May 12
Vegoils: Market Factors to Watch Tuesday May 12
12/05/2015 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Tuesday May 12.
FUNDAMENTALS
* Malaysian palm oil futures rose on Monday on a surge in demand in the first 10 days of the month and as the ringgit weakened, but gains were capped by industry data showing stocks in the world's No.2 producer have swelled to a five-month high.
* U.S. corn and soybean futures fell on Monday, pressured by expectations that a government report will show the pace of planting of both commodities was well ahead of the typical schedule.
* Oil edged lower on Monday on signs that a multi-week rally was encouraging a rejuvenation in already bloated U.S. shale supplies, even as the government expected less output in June from the fastest-growing fields.
MARKET NEWS
* Global equity markets eased on Monday on a dip in energy shares and fears a resolution to Greece's financial woes is not in sight, leading the euro to weaken against the dollar.
RELATED
> Malaysian April palm stocks hit 5-month high as output climbs
> Malaysia's May 1-10 palm oil exports rose 44.9 pct -SGS
> Malaysia's May 1-10 palm exports jump 41.3 pct m/m
> Palm sustainability group puts expansion ban on Golden Agri unit
> Big deals expected when Chinese premier visits South America
> El Nino seems all but certain, Asia braces for crop damage
> Indonesia's "cocoa doctors" may help avoid looming supply crunch
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data
on Malaysia's May 1-15 palm oil exports on May 15.
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 rose on Monday on a surge in demand in the first 10 days of the month and as the ringgit weakened, but gains were capped by industry data showing stocks in the world's No.2 producer have swelled to a five-month high.
* U.S. corn and soybean futures fell on Monday, pressured by expectations that a government report will show the pace of planting of both commodities was well ahead of the typical schedule.
* Oil edged lower on Monday on signs that a multi-week rally was encouraging a rejuvenation in already bloated U.S. shale supplies, even as the government expected less output in June from the fastest-growing fields.
MARKET NEWS
* Global equity markets eased on Monday on a dip in energy shares and fears a resolution to Greece's financial woes is not in sight, leading the euro to weaken against the dollar.
RELATED
> Malaysian April palm stocks hit 5-month high as output climbs
> Malaysia's May 1-10 palm oil exports rose 44.9 pct -SGS
> Malaysia's May 1-10 palm exports jump 41.3 pct m/m
> Palm sustainability group puts expansion ban on Golden Agri unit
> Big deals expected when Chinese premier visits South America
> El Nino seems all but certain, Asia braces for crop damage
> Indonesia's "cocoa doctors" may help avoid looming supply crunch
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data
on Malaysia's May 1-15 palm oil exports on May 15.
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