MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch March 3
VEGOILS-Market Factors to Watch March 3
03/03/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures fell to their lowest in a month on Wednesday, weighed down by a stronger ringgit MYR= and weak export demand.
* Chicago Board of Trade wheat futures rallied to close higher on Wednesday as traders covered short positions following the market's drop to its lowest level in nearly six years.
* Oil prices ended up for a third straight day on Wednesday as buyers shrugged off record high U.S. crude stockpiles to focus on an OPEC plan to freeze production, keeping alive the notion that market has bottomed from a near two-year selloff.
MARKET NEWS
* Asian shares were trying to string together three sessions of gains on Thursday as upbeat data on U.S. jobs and gains for a range of commodities whetted risk appetites globally.
RELATED
> Brazil to challenge Thailand sugar subsidies at WTO
> Putin says Russian oil producers agreed to freeze output in 2016
> Monsanto sees currency, grain price headwinds through 2016
> Raw sugar climbs to 8-week high as supplies tighten
> Energy CEO McClendon dies in Oklahoma car crash, a day after indictment
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's March 1-10 palm oil export data on March 10.
> Cargo surveyor SGS releases Malaysia's March 1-10 palm oil export data on March 10.
Palm, soy and crude oil prices at 0023 GMT
Contract Month Last Change Low High Volume
MY PALM OIL MAR6 0 +0.00 0 0 0
MY PALM OIL APR6 0 +0.00 0 0 0
MY PALM OIL MAY6 0 +0.00 0 0 0
CHINA PALM OLEIN MAY6 4932 -38.00 4864 4936 590452
CHINA SOYOIL MAY6 5628 -32.00 5576 5628 252624
CBOT SOY OIL MAY6 30.37 -6.40 0.00 0.00 0
INDIA PALM OIL MAR6 478.30 -6.40 477.00 482.50 3491
INDIA SOYOIL MAR6 599.50 -9.25 597.20 608.00 37050
NYMEX CRUDE APR6 34.65 -0.01 34.57 34.81 4134
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 fell to their lowest in a month on Wednesday, weighed down by a stronger ringgit MYR= and weak export demand.
* Chicago Board of Trade wheat futures rallied to close higher on Wednesday as traders covered short positions following the market's drop to its lowest level in nearly six years.
* Oil prices ended up for a third straight day on Wednesday as buyers shrugged off record high U.S. crude stockpiles to focus on an OPEC plan to freeze production, keeping alive the notion that market has bottomed from a near two-year selloff.
MARKET NEWS
* Asian shares were trying to string together three sessions of gains on Thursday as upbeat data on U.S. jobs and gains for a range of commodities whetted risk appetites globally.
RELATED
> Brazil to challenge Thailand sugar subsidies at WTO
> Putin says Russian oil producers agreed to freeze output in 2016
> Monsanto sees currency, grain price headwinds through 2016
> Raw sugar climbs to 8-week high as supplies tighten
> Energy CEO McClendon dies in Oklahoma car crash, a day after indictment
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's March 1-10 palm oil export data on March 10.
> Cargo surveyor SGS releases Malaysia's March 1-10 palm oil export data on March 10.
Palm, soy and crude oil prices at 0023 GMT
Contract Month Last Change Low High Volume
MY PALM OIL MAR6 0 +0.00 0 0 0
MY PALM OIL APR6 0 +0.00 0 0 0
MY PALM OIL MAY6 0 +0.00 0 0 0
CHINA PALM OLEIN MAY6 4932 -38.00 4864 4936 590452
CHINA SOYOIL MAY6 5628 -32.00 5576 5628 252624
CBOT SOY OIL MAY6 30.37 -6.40 0.00 0.00 0
INDIA PALM OIL MAR6 478.30 -6.40 477.00 482.50 3491
INDIA SOYOIL MAR6 599.50 -9.25 597.20 608.00 37050
NYMEX CRUDE APR6 34.65 -0.01 34.57 34.81 4134
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