MARKET DEVELOPMENT
VEGOILS-Market Factors To Watch March 14
VEGOILS-Market Factors To Watch March 14
14/03/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures jumped in Asian evening trade on Friday, rebounding from losses a day ago, as low supply concerns and bullish price sentiments from an industry conference fueled the market rally.
* Short covering and hopes for improved export demand lifted U.S. soybean futures to three-month highs on Friday, marking the longest rally for the market's most-active contract in four years.
* Oil rose up to 2 percent on Friday, with U.S. crude gaining for a fourth straight week, after the world's energy watchdog said the market may have hit bottom, although Goldman Sachs said the 50 percent rally in under two months was "premature."
MARKET NEWS
* Asian shares started the week higher on Monday, buoyed by gains on Wall Street, firmer crude prices and glimmers of strength in weekend data from China.
RELATED
> FAO expert to arrive in Egypt on Sunday, work on ergot laws
> EA says oil may have bottomed as non-OPEC producers cut output
> Chinese teapot refiner using Shell tie-up to launch overseas push
> Philippines buys about 90,000 T soymeal in tender - trade
> Speculators hike bullish sugar bet, up huge cotton net short - CFTC
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's March 1-15 palm oil export data on March 15.
> Cargo surveyor SGS releases Malaysia's March 1-15 palm oil export data on March 15.
Palm, soy and crude oil prices at 0039 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 5184 +82.00 5130 5214 370442
CHINA SOYOIL SEP6 5938 +36.00 5904 5956 319162
CBOT SOY OIL MAY6 32.19 +7.70 32.08 32.24 934
INDIA PALM OIL MAR6 505.60 +7.70 499.50 508.20 3429
INDIA SOYOIL MAR6 612.15 +4.20 610.00 615.00 13260
NYMEX CRUDE APR6 38.38 -0.12 38.17 38.77 5149
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 jumped in Asian evening trade on Friday, rebounding from losses a day ago, as low supply concerns and bullish price sentiments from an industry conference fueled the market rally.
* Short covering and hopes for improved export demand lifted U.S. soybean futures to three-month highs on Friday, marking the longest rally for the market's most-active contract in four years.
* Oil rose up to 2 percent on Friday, with U.S. crude gaining for a fourth straight week, after the world's energy watchdog said the market may have hit bottom, although Goldman Sachs said the 50 percent rally in under two months was "premature."
MARKET NEWS
* Asian shares started the week higher on Monday, buoyed by gains on Wall Street, firmer crude prices and glimmers of strength in weekend data from China.
RELATED
> FAO expert to arrive in Egypt on Sunday, work on ergot laws
> EA says oil may have bottomed as non-OPEC producers cut output
> Chinese teapot refiner using Shell tie-up to launch overseas push
> Philippines buys about 90,000 T soymeal in tender - trade
> Speculators hike bullish sugar bet, up huge cotton net short - CFTC
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's March 1-15 palm oil export data on March 15.
> Cargo surveyor SGS releases Malaysia's March 1-15 palm oil export data on March 15.
Palm, soy and crude oil prices at 0039 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 5184 +82.00 5130 5214 370442
CHINA SOYOIL SEP6 5938 +36.00 5904 5956 319162
CBOT SOY OIL MAY6 32.19 +7.70 32.08 32.24 934
INDIA PALM OIL MAR6 505.60 +7.70 499.50 508.20 3429
INDIA SOYOIL MAR6 612.15 +4.20 610.00 615.00 13260
NYMEX CRUDE APR6 38.38 -0.12 38.17 38.77 5149
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