MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Mar 6
VEGOILS-Market Factors to Watch Mar 6
06/03/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures rose slightly late on Friday, charting a fourth consecutive session of gains on forecasts that February inventory levels could remain flat.
* U.S. corn, soybean and wheat futures all closed modestly higher on Friday, recovering from early weakness on a mild round of technical buying.
* Oil prices surged on Friday, as a weaker dollar encouraged buying but investors remained cautious after Russian production figures showed weak compliance with a global deal to cut output.
MARKET NEWS
* Wall Street stock indexes and the U.S. dollar both posted gains for the week on Friday after Federal Reserve Chair Janet Yellen confirmed market expectations for an interest rate rise in March but profit taking saw equities and the greenback slip for the day.
RELATED
> China vows new steel, coal capacity cuts to make sky blue
> China aims to cut state grain stockpiles further this year
> China's New Hope moves into soybean crushing with Cargill
> Judge dismisses lawsuit against Dr. Oz over fake olive oil claims
> U.S. soy rally may provide path to farmer profitability despite glut
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia’s Feb 1-28 palm oil export data on Mar 10.
> Cargo surveyor SGS releases Malaysia’s Feb 1-28 palm oil export data on Mar 10.
Palm, soy and crude oil prices at 0032 GMT
Contract Month Last Change Low High Volume
MY PALM OIL MAR7 0 +0.00 0 0 0
MY PALM OIL APR7 0 +0.00 0 0 0
MY PALM OIL MAY7 0 +0.00 0 0 0
CHINA PALM OLEIN MAY7 5870 -8.00 5858 5910 125996
CHINA SOYOIL MAY7 6636 -32.00 6636 6678 84462
CBOT SOY OIL MAY7 34.38 +0.00 0 0 0
INDIA PALM OIL MAR7 539.60 +0.00 533.10 540.2 3437
INDIA SOYOIL MAR7 669.2 +0.50 664.05 669.2 17910
NYMEX CRUDE APR7 53.19 -0.14 53.15 53.38 5997
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 slightly late on Friday, charting a fourth consecutive session of gains on forecasts that February inventory levels could remain flat.
* U.S. corn, soybean and wheat futures all closed modestly higher on Friday, recovering from early weakness on a mild round of technical buying.
* Oil prices surged on Friday, as a weaker dollar encouraged buying but investors remained cautious after Russian production figures showed weak compliance with a global deal to cut output.
MARKET NEWS
* Wall Street stock indexes and the U.S. dollar both posted gains for the week on Friday after Federal Reserve Chair Janet Yellen confirmed market expectations for an interest rate rise in March but profit taking saw equities and the greenback slip for the day.
RELATED
> China vows new steel, coal capacity cuts to make sky blue
> China aims to cut state grain stockpiles further this year
> China's New Hope moves into soybean crushing with Cargill
> Judge dismisses lawsuit against Dr. Oz over fake olive oil claims
> U.S. soy rally may provide path to farmer profitability despite glut
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia’s Feb 1-28 palm oil export data on Mar 10.
> Cargo surveyor SGS releases Malaysia’s Feb 1-28 palm oil export data on Mar 10.
Palm, soy and crude oil prices at 0032 GMT
Contract Month Last Change Low High Volume
MY PALM OIL MAR7 0 +0.00 0 0 0
MY PALM OIL APR7 0 +0.00 0 0 0
MY PALM OIL MAY7 0 +0.00 0 0 0
CHINA PALM OLEIN MAY7 5870 -8.00 5858 5910 125996
CHINA SOYOIL MAY7 6636 -32.00 6636 6678 84462
CBOT SOY OIL MAY7 34.38 +0.00 0 0 0
INDIA PALM OIL MAR7 539.60 +0.00 533.10 540.2 3437
INDIA SOYOIL MAR7 669.2 +0.50 664.05 669.2 17910
NYMEX CRUDE APR7 53.19 -0.14 53.15 53.38 5997
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