MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch May 22
VEGOILS-Market Factors to Watch May 22
22/05/2015 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures ended higher on Thursday, recovering from the morning session and snapping four straight days of losses as weak prices attracted buying interest for the tropical oil.
* U.S. wheat futures rose more than 1 percent on Thursday, lifted by worries that U.S. rains could reduce grain quality and that dry conditions in Russia and Canada would stress crops.
* Oil prices jumped more than 2 percent on Thursday, giving Brent its biggest rally in more than a week, as draws reported in the Cushing delivery point for U.S. crude futures boosted optimism that a supply glut was easing.
MARKET NEWS
* Global equity markets rose on Thursday, with Wall Street's S&P 500 index closing at a record high as investors bet that U.S. interest rates won't rise soon, while oil jumped more than 2 percent on the view that a global glut may be starting to ease.
RELATED
> South Korea's MFG buys 60,000 T soymeal from South America
> Workers threaten to paralyze Argentine grains hub over pay
> Iraq shifts sugar imports to raws as Babylon refinery ramps up
> U.S. grain handler Andersons not looking to be acquired -CEO
> Potash Corp evaluating SQM, ICL stakes; other holdings 'strategic'
> ADM boosts grain export capacity at Argentine port
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's May 1-25 palm oil exports on May 25.
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 ended higher on Thursday, recovering from the morning session and snapping four straight days of losses as weak prices attracted buying interest for the tropical oil.
* U.S. wheat futures rose more than 1 percent on Thursday, lifted by worries that U.S. rains could reduce grain quality and that dry conditions in Russia and Canada would stress crops.
* Oil prices jumped more than 2 percent on Thursday, giving Brent its biggest rally in more than a week, as draws reported in the Cushing delivery point for U.S. crude futures boosted optimism that a supply glut was easing.
MARKET NEWS
* Global equity markets rose on Thursday, with Wall Street's S&P 500 index closing at a record high as investors bet that U.S. interest rates won't rise soon, while oil jumped more than 2 percent on the view that a global glut may be starting to ease.
RELATED
> South Korea's MFG buys 60,000 T soymeal from South America
> Workers threaten to paralyze Argentine grains hub over pay
> Iraq shifts sugar imports to raws as Babylon refinery ramps up
> U.S. grain handler Andersons not looking to be acquired -CEO
> Potash Corp evaluating SQM, ICL stakes; other holdings 'strategic'
> ADM boosts grain export capacity at Argentine port
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's May 1-25 palm oil exports on May 25.
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