MARKET DEVELOPMENT
VEGOILS-Market Factors To Watch April 21
VEGOILS-Market Factors To Watch April 21
21/04/2016 (Reuters) – The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures rose for a third consecutive day on Wednesday, tracking a rally in alternative vegetable oils to reach a near two-week high.
* U.S. soybeans Sc1 shrugged off early losses to surge 2 percent on Wednesday, hitting new eight-month highs and extending the gains of a dramatic April rally linked to investment fund buying and rain-related delays in Argentina's harvest.
* Oil prices rose 4 percent on Wednesday after a smaller-than-expected build in U.S. crude inventories offset glut worries stirred by the end of a Kuwaiti strike, and as oil bulls bet that major crude producers would meet again to try to curtail output.
MARKET NEWS
* Oil prices jumped on Wednesday as government data showed U.S. crude stocks rose slightly less than expected last week, while the U.S. dollar advanced against the euro ahead of Thursday's European Central Bank meeting.
RELATED
> Surging U.S. grain futures confuse traders, delight farmers
> Avril to cut biodiesel output in France on weak demand
> Floods hit Argentine soy, exports may be cut, good weather ahead
> Indian sugar falls as government asks states to impose stock limit; rapeseed down
> EU wheat crop mostly looking good after mild winter
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's April 1-30 palm oil export data on April 30.
> Cargo surveyor SGS releases Malaysia's April 1-30 palm oil export data on April 30.
Palm, soy and crude oil prices at 2359 GMT
Contract Month Last Change Low High Volume
MY PALM OIL MAY6 0 +0.00 0 0 0
MY PALM OIL JUN6 0 +0.00 0 0 0
MY PALM OIL JUL6 0 +0.00 0 0 0
CHINA PALM OLEIN SEP6 5746 -4.00 5704 5760 441166
CHINA SOYOIL SEP6 6280 +6.00 6242 6294 291592
CBOT SOY OIL MAY6 34.64 -1.30 0 0 0
INDIA PALM OIL APR6 569.60 -1.30 565.00 578 1356
INDIA SOYOIL MAY6 672.2 -3.25 670.3 680 85480
NYMEX CRUDE JUN6 43.92 -0.26 43.78 44.02 4841
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 a third consecutive day on Wednesday, tracking a rally in alternative vegetable oils to reach a near two-week high.
* U.S. soybeans Sc1 shrugged off early losses to surge 2 percent on Wednesday, hitting new eight-month highs and extending the gains of a dramatic April rally linked to investment fund buying and rain-related delays in Argentina's harvest.
* Oil prices rose 4 percent on Wednesday after a smaller-than-expected build in U.S. crude inventories offset glut worries stirred by the end of a Kuwaiti strike, and as oil bulls bet that major crude producers would meet again to try to curtail output.
MARKET NEWS
* Oil prices jumped on Wednesday as government data showed U.S. crude stocks rose slightly less than expected last week, while the U.S. dollar advanced against the euro ahead of Thursday's European Central Bank meeting.
RELATED
> Surging U.S. grain futures confuse traders, delight farmers
> Avril to cut biodiesel output in France on weak demand
> Floods hit Argentine soy, exports may be cut, good weather ahead
> Indian sugar falls as government asks states to impose stock limit; rapeseed down
> EU wheat crop mostly looking good after mild winter
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's April 1-30 palm oil export data on April 30.
> Cargo surveyor SGS releases Malaysia's April 1-30 palm oil export data on April 30.
Palm, soy and crude oil prices at 2359 GMT
Contract Month Last Change Low High Volume
MY PALM OIL MAY6 0 +0.00 0 0 0
MY PALM OIL JUN6 0 +0.00 0 0 0
MY PALM OIL JUL6 0 +0.00 0 0 0
CHINA PALM OLEIN SEP6 5746 -4.00 5704 5760 441166
CHINA SOYOIL SEP6 6280 +6.00 6242 6294 291592
CBOT SOY OIL MAY6 34.64 -1.30 0 0 0
INDIA PALM OIL APR6 569.60 -1.30 565.00 578 1356
INDIA SOYOIL MAY6 672.2 -3.25 670.3 680 85480
NYMEX CRUDE JUN6 43.92 -0.26 43.78 44.02 4841
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