MARKET DEVELOPMENT
VEGOILS-Market Factors To Watch April 5
VEGOILS-Market Factors To Watch April 5
05/04/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures reversed course to rise for a second straight day in the evening, as the ringgit MYR= weakened and as palm tracked improving competing oils.
* U.S. soybean futures slumped on Monday as traders took profits after prices reached their highest point since August on technical buying and last week's government forecast for lower-than-expected plantings.
* Oil prices fell more than 2 percent on Monday, with Brent touching one-month lows, as investors doubted that producing countries will freeze output to rein in a worldwide glut.
MARKET NEWS
* The dollar edged lower on Monday on contradictory views of prospects for an increase in U.S. interest rates, while oil prices stayed under pressure on skepticism producers would be able to freeze output to stem a global glut.
RELATED
> India's Iran oil imports set to surge to 7-yr high in 2016/17 -sources
> Poor weather may cut east European wheat harvest
> Indian, Thai sugar flows to slow to Myanmar for China
> Oversupply forces rare gasoline storage on ships in Asian waters
> Coffee wars: South Korea's cafe boom nears saturation point
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's April 1-10 palm oil export data on April 11.
> Cargo surveyor SGS releases Malaysia's April 1-10 palm oil export data on April 11.
Palm, soy and crude oil prices at 0023 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 0 +0.00 0 0 0
CHINA SOYOIL SEP6 0 +0.00 0 0 0
CBOT SOY OIL MAY6 34.66 +7.90 34.65 34.69 348
INDIA PALM OIL APR6 560.80 +7.90 551.50 561.9 2770
INDIA SOYOIL APR6 654.5 +7.05 647 656.9 38800
NYMEX CRUDE MAY6 35.33 -0.37 35.33 35.52 5926
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 reversed course to rise for a second straight day in the evening, as the ringgit MYR= weakened and as palm tracked improving competing oils.
* U.S. soybean futures slumped on Monday as traders took profits after prices reached their highest point since August on technical buying and last week's government forecast for lower-than-expected plantings.
* Oil prices fell more than 2 percent on Monday, with Brent touching one-month lows, as investors doubted that producing countries will freeze output to rein in a worldwide glut.
MARKET NEWS
* The dollar edged lower on Monday on contradictory views of prospects for an increase in U.S. interest rates, while oil prices stayed under pressure on skepticism producers would be able to freeze output to stem a global glut.
RELATED
> India's Iran oil imports set to surge to 7-yr high in 2016/17 -sources
> Poor weather may cut east European wheat harvest
> Indian, Thai sugar flows to slow to Myanmar for China
> Oversupply forces rare gasoline storage on ships in Asian waters
> Coffee wars: South Korea's cafe boom nears saturation point
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's April 1-10 palm oil export data on April 11.
> Cargo surveyor SGS releases Malaysia's April 1-10 palm oil export data on April 11.
Palm, soy and crude oil prices at 0023 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 0 +0.00 0 0 0
CHINA SOYOIL SEP6 0 +0.00 0 0 0
CBOT SOY OIL MAY6 34.66 +7.90 34.65 34.69 348
INDIA PALM OIL APR6 560.80 +7.90 551.50 561.9 2770
INDIA SOYOIL APR6 654.5 +7.05 647 656.9 38800
NYMEX CRUDE MAY6 35.33 -0.37 35.33 35.52 5926
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