MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch May 15
VEGOILS-Market Factors to Watch May 15
15/05/2015 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures closed higher on Thursday, reversing losses in the morning session as anticipation over strong export data in the first half of May underpinned the contract.
* U.S. wheat futures surged 7 percent on Thursday as a softer dollar inspired funds to cover short positions, analysts said.
* Oil futures pulled back on Thursday as ample global supply weighed on prices while Brent's front-month June contract headed to expiration.
MARKET NEWS
* Increasing expectations the U.S. Federal Reserve will hold off raising interest rates until September at the earliest helped push the S&P 500 to a record high close on Thursday and drove the dollar to near its lowest level since January.
RELATED
> For Modi's year-old government, storm brewing in rural India
> Canada grain handler Richardson targets U.S. acquisitions
> El Niño near-certain to last through summer -U.S. climate center
> U.S. Corn Belt farmland values steady but weakness seen -Fed
> Indian monsoon rains may hit Kerala coast around May 30 -weather office [ID;nD8N0WS01G]
> India's April vegoil imports up 4.7 pct m/m - trade
> GrainCorp targets international expansion as El Nino looms
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 0015 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 5110 +16.00 5102 5164 442350
CHINA SOYOIL SEP5 5866 +4.00 5856 5918 493058
CBOT SOY OIL JUL5 33.38 +2.30 33.35 33.40 205
INDIA PALM OIL MAY5 453.80 +2.30 448.50 454.40 1845
INDIA SOYOIL JUN5 604.05 +1.25 601.20 607.60 45975
NYMEX CRUDE JUN5 59.77 -0.11 59.66 59.81 756
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 closed higher on Thursday, reversing losses in the morning session as anticipation over strong export data in the first half of May underpinned the contract.
* U.S. wheat futures surged 7 percent on Thursday as a softer dollar inspired funds to cover short positions, analysts said.
* Oil futures pulled back on Thursday as ample global supply weighed on prices while Brent's front-month June contract headed to expiration.
MARKET NEWS
* Increasing expectations the U.S. Federal Reserve will hold off raising interest rates until September at the earliest helped push the S&P 500 to a record high close on Thursday and drove the dollar to near its lowest level since January.
RELATED
> For Modi's year-old government, storm brewing in rural India
> Canada grain handler Richardson targets U.S. acquisitions
> El Niño near-certain to last through summer -U.S. climate center
> U.S. Corn Belt farmland values steady but weakness seen -Fed
> Indian monsoon rains may hit Kerala coast around May 30 -weather office [ID;nD8N0WS01G]
> India's April vegoil imports up 4.7 pct m/m - trade
> GrainCorp targets international expansion as El Nino looms
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 0015 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 5110 +16.00 5102 5164 442350
CHINA SOYOIL SEP5 5866 +4.00 5856 5918 493058
CBOT SOY OIL JUL5 33.38 +2.30 33.35 33.40 205
INDIA PALM OIL MAY5 453.80 +2.30 448.50 454.40 1845
INDIA SOYOIL JUN5 604.05 +1.25 601.20 607.60 45975
NYMEX CRUDE JUN5 59.77 -0.11 59.66 59.81 756
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