MARKET DEVELOPMENT
VEGOILS-Market Factors To Watch March 25
VEGOILS-Market Factors To Watch March 25
25/03/2016 (Reuters)-The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures dropped on Thursday for a second consecutive session, tracking falls in competing overseas oils and as fresh rains reduced concerns over slowing output.
* U.S. soybeans were higher on Thursday, reversing from earlier losses as soymeal rallied on U.S. Department of Agriculture data showing the largest weekly soymeal sales in about 13 years.
* Oil prices steadied on Thursday, paring losses after a renewed drop in U.S. oil rigs, but analysts and traders said there could be another selloff in the coming week if U.S. crude stockpiles hit record highs again.
MARKET NEWS
* Global equity markets declined on Thursday and the dollar added to a recent string of gains after another U.S. Federal Reserve official talked of higher U.S. interest rates before long.
RELATED
> Russia set to become 2nd largest wheat exporter in 2015/16
> Egypt's GASC receives wheat offers from six trading firms
> U.S. senators call for review of ChemChina deal for Syngenta
> CME closer to EU wheat contract after silo breakthrough - sources
> French agriculture ministry confirms case of mad cow disease
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 0030 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 5368 +0.00 5338 5382 399060
CHINA SOYOIL SEP6 5938 -22.00 5912 5952 250938
CBOT SOY OIL MAY6 33.18 -3.10 32.83 33.44 51737
INDIA PALM OIL MAR6 512.50 -3.10 510.30 515 159
INDIA SOYOIL APR6 630 -3.30 628.5 632 15590
NYMEX CRUDE MAY6 39.46 -0.33 38.33 39.77 478312
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 dropped on Thursday for a second consecutive session, tracking falls in competing overseas oils and as fresh rains reduced concerns over slowing output.
* U.S. soybeans were higher on Thursday, reversing from earlier losses as soymeal rallied on U.S. Department of Agriculture data showing the largest weekly soymeal sales in about 13 years.
* Oil prices steadied on Thursday, paring losses after a renewed drop in U.S. oil rigs, but analysts and traders said there could be another selloff in the coming week if U.S. crude stockpiles hit record highs again.
MARKET NEWS
* Global equity markets declined on Thursday and the dollar added to a recent string of gains after another U.S. Federal Reserve official talked of higher U.S. interest rates before long.
RELATED
> Russia set to become 2nd largest wheat exporter in 2015/16
> Egypt's GASC receives wheat offers from six trading firms
> U.S. senators call for review of ChemChina deal for Syngenta
> CME closer to EU wheat contract after silo breakthrough - sources
> French agriculture ministry confirms case of mad cow disease
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 0030 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 5368 +0.00 5338 5382 399060
CHINA SOYOIL SEP6 5938 -22.00 5912 5952 250938
CBOT SOY OIL MAY6 33.18 -3.10 32.83 33.44 51737
INDIA PALM OIL MAR6 512.50 -3.10 510.30 515 159
INDIA SOYOIL APR6 630 -3.30 628.5 632 15590
NYMEX CRUDE MAY6 39.46 -0.33 38.33 39.77 478312
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