MARKET DEVELOPMENT
VEGOILS-Market Factors To Watch April 22
VEGOILS-Market Factors To Watch April 22
22/04/2016 (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 fourth consecutive session on Thursday, hitting their highest in more than two weeks, on expectations of lower production following hot and dry weather brought on by the El Nino weather pattern.
* U.S. soybeans surged to the highest levels in eight months on Thursday on technical buying and bull-spreading as investors eyed outlooks for lower output due to rains in Argentina.
* Oil prices fell 3 percent on Thursday, pausing after a two-day rally, after producers from Russia to Saudi Arabia and Iran to Libya hinted at more output amid growing U.S. crude stockpiles.
MARKET NEWS
* Asian shares slid from a 5 1/2-month high on Friday as disappointing earnings from U.S. blue chip companies looked set to pour cold water on the rally that took off in March.
RELATED
> Palm oil industry fumes as Indonesia gets tough on forest fires
> Argentina soy crop estimates slashed due to rain-swamped farms
> EU wheat rally falters, fund flows bring record daily volume
> AgroGeneration holds out for Ukraine grain export windfall
> Canadian farmers seen planting less canola than expected
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's April 1-25 palm oil export data on April 25.
> Cargo surveyor SGS releases Malaysia's April 1-25 palm oil export data on April 25.
Palm, soy and crude oil prices at 0048 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 5742 -74.00 5670 5866 604212
CHINA SOYOIL SEP6 6304 -62.00 6252 6426 510530
CBOT SOY OIL MAY6 34.05 +4.70 34.01 34.1 988
INDIA PALM OIL APR6 573.50 +4.70 570.00 577 1528
INDIA SOYOIL MAY6 675.5 +3.80 672.8 682.7 108180
NYMEX CRUDE JUN6 43.72 +0.54 43.23 43.76 7756
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 fourth consecutive session on Thursday, hitting their highest in more than two weeks, on expectations of lower production following hot and dry weather brought on by the El Nino weather pattern.
* U.S. soybeans surged to the highest levels in eight months on Thursday on technical buying and bull-spreading as investors eyed outlooks for lower output due to rains in Argentina.
* Oil prices fell 3 percent on Thursday, pausing after a two-day rally, after producers from Russia to Saudi Arabia and Iran to Libya hinted at more output amid growing U.S. crude stockpiles.
MARKET NEWS
* Asian shares slid from a 5 1/2-month high on Friday as disappointing earnings from U.S. blue chip companies looked set to pour cold water on the rally that took off in March.
RELATED
> Palm oil industry fumes as Indonesia gets tough on forest fires
> Argentina soy crop estimates slashed due to rain-swamped farms
> EU wheat rally falters, fund flows bring record daily volume
> AgroGeneration holds out for Ukraine grain export windfall
> Canadian farmers seen planting less canola than expected
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's April 1-25 palm oil export data on April 25.
> Cargo surveyor SGS releases Malaysia's April 1-25 palm oil export data on April 25.
Palm, soy and crude oil prices at 0048 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 5742 -74.00 5670 5866 604212
CHINA SOYOIL SEP6 6304 -62.00 6252 6426 510530
CBOT SOY OIL MAY6 34.05 +4.70 34.01 34.1 988
INDIA PALM OIL APR6 573.50 +4.70 570.00 577 1528
INDIA SOYOIL MAY6 675.5 +3.80 672.8 682.7 108180
NYMEX CRUDE JUN6 43.72 +0.54 43.23 43.76 7756
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