MARKET DEVELOPMENT
VEGOILS-Market Factors To Watch March 29
VEGOILS-Market Factors To Watch March 29
29/03/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures surged to a two-year high on Monday, rising for a sixth session out of eight, on persistent worries that a crop-damaging El Nino weather event would curb yields.
* U.S. wheat futures jumped nearly 2 percent on Monday on technical buying and short covering amid concerns about adverse weather in parts of the winter wheat belt that could damage developing crops.
* Oil futures edged lower for a second straight session on Monday in thin trade as European markets observed the Easter holiday and as hedge funds and other big speculators were still hesitant to wager on a two-month long price rebound amid hefty crude inventories.
MARKET NEWS
* An index of global stocks edged higher on Monday, as did Wall Street, which was bolstered by a softer dollar as weak U.S. economic data cut expectations of a near-term interest rate increase by the Federal Reserve.
RELATED
> Crude palm kernel oil hits five-year high on El Nino concerns
> Ramadan unlikely to save slumping Muslim palm oil demand
> FOB Gulf Grain-Wheat premiums flat on low demand as futures jump
> China, Canada in talks as tougher canola standard nears
> GMO labels spread as U.S. congressional effort to halt them fades
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's March 1-31 palm oil export data on March 31.
> Cargo surveyor SGS releases Malaysia's March 1-31 palm oil export data on March 31.
Palm, soy and crude oil prices at 0036 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 5564 +58.00 5506 5572 519320
CHINA SOYOIL SEP6 6056 +46.00 6002 6058 279914
CBOT SOY OIL MAY6 33.58 +11.00 33.57 33.64 328
INDIA PALM OIL MAR6 524.80 +11.00 517.20 525.9 1551
INDIA SOYOIL APR6 643.5 +12.80 635 643.7 54430
NYMEX CRUDE MAY6 39.23 -0.16 39.24 39.48 3163
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 surged to a two-year high on Monday, rising for a sixth session out of eight, on persistent worries that a crop-damaging El Nino weather event would curb yields.
* U.S. wheat futures jumped nearly 2 percent on Monday on technical buying and short covering amid concerns about adverse weather in parts of the winter wheat belt that could damage developing crops.
* Oil futures edged lower for a second straight session on Monday in thin trade as European markets observed the Easter holiday and as hedge funds and other big speculators were still hesitant to wager on a two-month long price rebound amid hefty crude inventories.
MARKET NEWS
* An index of global stocks edged higher on Monday, as did Wall Street, which was bolstered by a softer dollar as weak U.S. economic data cut expectations of a near-term interest rate increase by the Federal Reserve.
RELATED
> Crude palm kernel oil hits five-year high on El Nino concerns
> Ramadan unlikely to save slumping Muslim palm oil demand
> FOB Gulf Grain-Wheat premiums flat on low demand as futures jump
> China, Canada in talks as tougher canola standard nears
> GMO labels spread as U.S. congressional effort to halt them fades
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's March 1-31 palm oil export data on March 31.
> Cargo surveyor SGS releases Malaysia's March 1-31 palm oil export data on March 31.
Palm, soy and crude oil prices at 0036 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 5564 +58.00 5506 5572 519320
CHINA SOYOIL SEP6 6056 +46.00 6002 6058 279914
CBOT SOY OIL MAY6 33.58 +11.00 33.57 33.64 328
INDIA PALM OIL MAR6 524.80 +11.00 517.20 525.9 1551
INDIA SOYOIL APR6 643.5 +12.80 635 643.7 54430
NYMEX CRUDE MAY6 39.23 -0.16 39.24 39.48 3163
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