MARKET DEVELOPMENT
Vegoils-Market Factors To Watch Thursday April 14
Vegoils-Market Factors To Watch Thursday April 14
14/04/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Thursday April 14.
FUNDAMENTALS
* Malaysian palm oil futures rose for the first time in six sessions on Wednesday, tracking competing vegetable oils, in particular sharp gains in soyoil.
* Front-month U.S. corn futures Cc1 rose 3 percent on Wednesday, their biggest single-day advance since September, on short-covering and concerns about planting prospects in the Midwest, analysts said.
* Oil futures fell from fresh four-month highs in choppy trading on Wednesday as comments from Russia's energy minister added to doubts a producer meeting set for Sunday in Doha to discuss freezing output would yield a positive outcome.
MARKET NEWS
* The U.S. dollar rallied and major stock markets rose on Wednesday after JPMorgan's results beat lowered expectations and upbeat Chinese trade data offered hope Asia's biggest economy is stabilizing.
RELATED
> FranceAgriMer cuts grain stocks forecasts on high Moroccan sales
> Brazil government shift to hit commodities flow -FCStone
> India's wheat imports to hit decade high as weather woes curb output
> China trader COFCO seeks N. America expansion, sees 2019 listing
> Argentina to plant 25 pct more wheat in 2016-17 crop - exchange
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's April 1-15 palm oil export data on April 15.
> Cargo surveyor SGS releases Malaysia's April 1-15 palm oil export data on April 15.
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 5536 +18.00 5504 5552 351668
CHINA SOYOIL SEP6 6144 +0.00 6118 6156 226310
CBOT SOY OIL MAY6 33.94 +6.20 33.91 33.96 406
INDIA PALM OIL APR6 554.20 +6.20 550.00 555.3 1799
INDIA SOYOIL APR6 647.5 -0.50 647.5 652.5 1330
NYMEX CRUDE MAY6 41.56 -0.20 41.53 41.81 4697
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 for the first time in six sessions on Wednesday, tracking competing vegetable oils, in particular sharp gains in soyoil.
* Front-month U.S. corn futures Cc1 rose 3 percent on Wednesday, their biggest single-day advance since September, on short-covering and concerns about planting prospects in the Midwest, analysts said.
* Oil futures fell from fresh four-month highs in choppy trading on Wednesday as comments from Russia's energy minister added to doubts a producer meeting set for Sunday in Doha to discuss freezing output would yield a positive outcome.
MARKET NEWS
* The U.S. dollar rallied and major stock markets rose on Wednesday after JPMorgan's results beat lowered expectations and upbeat Chinese trade data offered hope Asia's biggest economy is stabilizing.
RELATED
> FranceAgriMer cuts grain stocks forecasts on high Moroccan sales
> Brazil government shift to hit commodities flow -FCStone
> India's wheat imports to hit decade high as weather woes curb output
> China trader COFCO seeks N. America expansion, sees 2019 listing
> Argentina to plant 25 pct more wheat in 2016-17 crop - exchange
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's April 1-15 palm oil export data on April 15.
> Cargo surveyor SGS releases Malaysia's April 1-15 palm oil export data on April 15.
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 5536 +18.00 5504 5552 351668
CHINA SOYOIL SEP6 6144 +0.00 6118 6156 226310
CBOT SOY OIL MAY6 33.94 +6.20 33.91 33.96 406
INDIA PALM OIL APR6 554.20 +6.20 550.00 555.3 1799
INDIA SOYOIL APR6 647.5 -0.50 647.5 652.5 1330
NYMEX CRUDE MAY6 41.56 -0.20 41.53 41.81 4697
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