MARKET DEVELOPMENT
VEGOILS-Market Factors To Watch March 23
VEGOILS-Market Factors To Watch March 23
23/03/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures rose to a two-year high on Tuesday, stretching gains into a fourth session, as improving exports and worries about lower output due to an El Nino weather pattern underpinned prices.
* U.S. grain prices were mostly higher on Tuesday, with soybeans rising to their highest since October, on technical buying and worries that cold temperatures could damage crops in the southwestern portion of the Great Plains wheat belt.
* Brent oil prices settled steady on Tuesday after the deadly blasts in Brussels while U.S. crude futures fell, then extended losses in post-settlement trade on industry data showing bigger than expected builds in domestic inventory.
MARKET NEWS
* Global equity markets were little changed, regrouping from early losses while safe-haven gold and government bonds eased from higher levels on Tuesday following attacks on the airport and a rush-hour metro train in Brussels.
RELATED
> Russian wheat export prices up slightly on stronger rouble
> Lebanese health ministry refers contaminated wheat import case to prosecutor
> We can't pay: Zimbabwe farmers resist compensating evicted white landowners
> Mounting debts could derail China plans to cut steel, coal glut
> France finds suspected mad cow case
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 0035 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 5488 +44.00 5450 5504 474422
CHINA SOYOIL SEP6 6074 +4.00 6044 6086 274394
CBOT SOY OIL MAY6 33.97 +2.60 33.9 33.97 399
INDIA PALM OIL MAR6 517.00 +2.60 514.80 520.4 1769
INDIA SOYOIL APR6 638.3 +5.95 631.6 638.5 54390
NYMEX CRUDE MAY6 41.13 -0.32 41.09 41.34 3751
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 rose to a two-year high on Tuesday, stretching gains into a fourth session, as improving exports and worries about lower output due to an El Nino weather pattern underpinned prices.
* U.S. grain prices were mostly higher on Tuesday, with soybeans rising to their highest since October, on technical buying and worries that cold temperatures could damage crops in the southwestern portion of the Great Plains wheat belt.
* Brent oil prices settled steady on Tuesday after the deadly blasts in Brussels while U.S. crude futures fell, then extended losses in post-settlement trade on industry data showing bigger than expected builds in domestic inventory.
MARKET NEWS
* Global equity markets were little changed, regrouping from early losses while safe-haven gold and government bonds eased from higher levels on Tuesday following attacks on the airport and a rush-hour metro train in Brussels.
RELATED
> Russian wheat export prices up slightly on stronger rouble
> Lebanese health ministry refers contaminated wheat import case to prosecutor
> We can't pay: Zimbabwe farmers resist compensating evicted white landowners
> Mounting debts could derail China plans to cut steel, coal glut
> France finds suspected mad cow case
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 0035 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 5488 +44.00 5450 5504 474422
CHINA SOYOIL SEP6 6074 +4.00 6044 6086 274394
CBOT SOY OIL MAY6 33.97 +2.60 33.9 33.97 399
INDIA PALM OIL MAR6 517.00 +2.60 514.80 520.4 1769
INDIA SOYOIL APR6 638.3 +5.95 631.6 638.5 54390
NYMEX CRUDE MAY6 41.13 -0.32 41.09 41.34 3751
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