MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch March 22
VEGOILS-Market Factors to Watch March 22
22/03/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures hit a 23-month high in trade on Monday, driven by lowered production forecasts and improving export demand.
* U.S. wheat jumped as much as 1 percent on Monday, led by gains in K.C. hard red winter wheat as extremely cold weather threatened to curb yields in parts of the southern U.S. Plains growing region already suffering from dry conditions.
* Oil prices rose about 1 percent on Monday after data showed crude inventories at the Cushing, Oklahoma delivery hub for U.S. futures fell for the first time since January, and ahead of the expiration of the U.S. front-month contract.
MARKET NEWS
* Global equity markets edged lower on Monday as the dollar strengthened and U.S. Treasury yields rose on hawkish commentary from several Federal Reserve officials.
RELATED
> China's Saudi crude oil imports in Feb hit near record high
> Brazil's arabica crop: Bigger and better after drought
> China sugar imports drop for a second month in a row in Feb
> Weekend freeze in U.S. Plains nips hard red winter wheat crop
> Louis Dreyfus profits fall, seeks partners
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's March 1-25 palm oil export data on March 25.
> Cargo surveyor SGS releases Malaysia's March 1-25 palm oil export data on March 25.
Palm, soy and crude oil prices at 0031 GMT
Contract Month Last Change Low High Volume
MY PALM OIL APR6 0 +0.00 0 0 0
MY PALM OIL MAY6 0 +0.00 0 0 0
MY PALM OIL JUN6 0 +0.00 0 0 0
CHINA PALM OLEIN SEP6 5462 +114.00 5376 5464 651298
CHINA SOYOIL SEP6 6086 +74.00 6026 6088 326722
CBOT SOY OIL MAY6 33.61 +1.80 33.51 33.62 410
INDIA PALM OIL MAR6 514.60 +1.80 505.10 515.6 1616
INDIA SOYOIL APR6 632.15 +6.95 621 632.7 78460
NYMEX CRUDE MAY6 41.63 +0.11 41.50 41.79 10532
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 barre
FUNDAMENTALS
* Malaysian palm oil futures hit a 23-month high in trade on Monday, driven by lowered production forecasts and improving export demand.
* U.S. wheat jumped as much as 1 percent on Monday, led by gains in K.C. hard red winter wheat as extremely cold weather threatened to curb yields in parts of the southern U.S. Plains growing region already suffering from dry conditions.
* Oil prices rose about 1 percent on Monday after data showed crude inventories at the Cushing, Oklahoma delivery hub for U.S. futures fell for the first time since January, and ahead of the expiration of the U.S. front-month contract.
MARKET NEWS
* Global equity markets edged lower on Monday as the dollar strengthened and U.S. Treasury yields rose on hawkish commentary from several Federal Reserve officials.
RELATED
> China's Saudi crude oil imports in Feb hit near record high
> Brazil's arabica crop: Bigger and better after drought
> China sugar imports drop for a second month in a row in Feb
> Weekend freeze in U.S. Plains nips hard red winter wheat crop
> Louis Dreyfus profits fall, seeks partners
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's March 1-25 palm oil export data on March 25.
> Cargo surveyor SGS releases Malaysia's March 1-25 palm oil export data on March 25.
Palm, soy and crude oil prices at 0031 GMT
Contract Month Last Change Low High Volume
MY PALM OIL APR6 0 +0.00 0 0 0
MY PALM OIL MAY6 0 +0.00 0 0 0
MY PALM OIL JUN6 0 +0.00 0 0 0
CHINA PALM OLEIN SEP6 5462 +114.00 5376 5464 651298
CHINA SOYOIL SEP6 6086 +74.00 6026 6088 326722
CBOT SOY OIL MAY6 33.61 +1.80 33.51 33.62 410
INDIA PALM OIL MAR6 514.60 +1.80 505.10 515.6 1616
INDIA SOYOIL APR6 632.15 +6.95 621 632.7 78460
NYMEX CRUDE MAY6 41.63 +0.11 41.50 41.79 10532
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 barre