VEGOILS-Market Factors to Watch May 13
13/05/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures eased on Thursday evening to see its sharpest drop in a week as it tracked a weaker Dalian palm olein oil and on a slightly stronger ringgit MYR=, which led to a downtrend in benchmark prices.
* U.S. soybean futures fell on Thursday on disappointing weekly export data and expectations that U.S. farmers might increase soybean seedings this spring and plant less corn, analysts said.
* Oil prices rose 1 percent in volatile trade on Thursday, with U.S. crude hitting six-month highs as investors weighed a forecast for tighter global supplies against signs of another storage build at the hub for U.S. crude futures.
MARKET NEWS
* The yen lost ground against the U.S. dollar on Thursday amid speculation Japan could expand its monetary stimulus soon, while a drop in Apple shares dragged the Nasdaq lower in a volatile trading day.
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DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's May 1-15 palm oil export data on May 16.
> Cargo surveyor SGS releases Malaysia's May 1-15 palm oil export data on May 16.
Palm, soy and crude oil prices at 0029 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 5214 -216.0 5214 5392 896798
CHINA SOYOIL SEP6 6044 -250.0 6044 6260 709944
CBOT SOY OIL JUL6 32.57 -11.00 32.57 32.67 510
INDIA PALM OIL MAY6 545.90 -11.00 545.50 557.9 2408
INDIA SOYOIL MAY6 640.1 -8.90 640.1 649.5 4480
NYMEX CRUDE JUN6 46.28 -0.42 46.26 46.47 3840
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