MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Mar 7
VEGOILS-Market Factors to Watch Mar 7
07/03/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures climbed to their highest levels in two weeks on Monday, charting a fifth straight day of gains on stronger soyoil and forecasts of weaker output.
* Chicago Board of Trade wheat futures rose 1.2 percent on Monday and hit their highest level since mid-February on concerns about dry conditions hampering crop development in the U.S. Plains, traders said.
* U.S. oil prices eased in Asian trade on Tuesday after the International Energy Agency (IEA) forecast U.S. shale output to grow at about 1.4 million barrels per day by 2022.
MARKET NEWS
* Asian stocks were listless early on Tuesday after Wall Street slipped on concerns about U.S. President Donald Trump's ability to focus on economic policies, while the euro slid on fears an anti-European Union candidate may be elected France's next president.
RELATED
> PREVIEW-Malaysia end-Feb palm stocks likely dropped to six-month low - survey
> India's vegoil imports seen flat or lower for 1st time in 6 years
> INTERVIEW-India seen importing 2-3 mln T wheat in 2017/18 - Adani's Chaturvedi
> Russian wheat prices rise on strong rouble, demand from Egypt
> China's New Hope breaks into soybean crushing with Cargill
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 0110 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 5932 +22.00 5902 5940 125088
CHINA SOYOIL MAY7 6656 -20.00 6640 6688 128416
CBOT SOY OIL MAY7 34.29 -1.10 34.24 34.32 435
INDIA PALM OIL MAR7 538.50 -1.10 537.00 547 2649
INDIA SOYOIL MAR7 662.35 -5.95 661.55 672.05 18580
NYMEX CRUDE APR7 53.23 +0.03 53.13 53.23 2681
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 climbed to their highest levels in two weeks on Monday, charting a fifth straight day of gains on stronger soyoil and forecasts of weaker output.
* Chicago Board of Trade wheat futures rose 1.2 percent on Monday and hit their highest level since mid-February on concerns about dry conditions hampering crop development in the U.S. Plains, traders said.
* U.S. oil prices eased in Asian trade on Tuesday after the International Energy Agency (IEA) forecast U.S. shale output to grow at about 1.4 million barrels per day by 2022.
MARKET NEWS
* Asian stocks were listless early on Tuesday after Wall Street slipped on concerns about U.S. President Donald Trump's ability to focus on economic policies, while the euro slid on fears an anti-European Union candidate may be elected France's next president.
RELATED
> PREVIEW-Malaysia end-Feb palm stocks likely dropped to six-month low - survey
> India's vegoil imports seen flat or lower for 1st time in 6 years
> INTERVIEW-India seen importing 2-3 mln T wheat in 2017/18 - Adani's Chaturvedi
> Russian wheat prices rise on strong rouble, demand from Egypt
> China's New Hope breaks into soybean crushing with Cargill
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 0110 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 5932 +22.00 5902 5940 125088
CHINA SOYOIL MAY7 6656 -20.00 6640 6688 128416
CBOT SOY OIL MAY7 34.29 -1.10 34.24 34.32 435
INDIA PALM OIL MAR7 538.50 -1.10 537.00 547 2649
INDIA SOYOIL MAR7 662.35 -5.95 661.55 672.05 18580
NYMEX CRUDE APR7 53.23 +0.03 53.13 53.23 2681
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