MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Mar 10
VEGOILS-Market Factors to Watch Mar 10
10/03/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures slipped on Thursday evening on weaker-performing soyoil and mixed forecasts from leading analysts at an industry conference the previous day.
* U.S. soybean futures hit a two-month low on Thursday, pressured by rising government forecasts for a record-large Brazilian soy harvest, traders said.
* Oil fell about 2 percent on Thursday in heavy trade, extending the previous session's slump to prices not seen since an OPEC-led pact to cut production was agreed, as record U.S. crude inventories fed doubts about the effectiveness of the deal to curb a global glut.
MARKET NEWS
* Crude oil extended a slump on Thursday on news of record-high U.S. stockpiles, dragging on equity markets as energy stocks slid, while bets the Federal Reserve will raise U.S. interest rates next week weighed on gold and industrial metals.
RELATED
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> INTERVIEW-Canadian wheat sales could see Trump bump in Mexico -Viterra
> EXCLUSIVE-Saudis tell U.S. oil: OPEC won't extend cuts to offset shale - sources
> U.S. forecaster sees increasing chances of El Niño later in 2017
> Raw sugar pivots down to 3-month low; cocoa, coffee slip
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 0045 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 5830 -28.00 5802 5852 203216
CHINA SOYOIL MAY7 6504 -26.00 6482 6514 108060
CBOT SOY OIL MAY7 33.11 -6.70 0 0 0
INDIA PALM OIL MAR7 527.50 -6.70 526.00 536.5 2234
INDIA SOYOIL MAR7 651.6 -8.55 650.2 661 14650
NYMEX CRUDE APR7 49.51 +0.23 49.47 49.63 4801
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 slipped on Thursday evening on weaker-performing soyoil and mixed forecasts from leading analysts at an industry conference the previous day.
* U.S. soybean futures hit a two-month low on Thursday, pressured by rising government forecasts for a record-large Brazilian soy harvest, traders said.
* Oil fell about 2 percent on Thursday in heavy trade, extending the previous session's slump to prices not seen since an OPEC-led pact to cut production was agreed, as record U.S. crude inventories fed doubts about the effectiveness of the deal to curb a global glut.
MARKET NEWS
* Crude oil extended a slump on Thursday on news of record-high U.S. stockpiles, dragging on equity markets as energy stocks slid, while bets the Federal Reserve will raise U.S. interest rates next week weighed on gold and industrial metals.
RELATED
> Bayer, Monsanto start $2.5 bln asset sale to get merger clearance - sources
> INTERVIEW-Canadian wheat sales could see Trump bump in Mexico -Viterra
> EXCLUSIVE-Saudis tell U.S. oil: OPEC won't extend cuts to offset shale - sources
> U.S. forecaster sees increasing chances of El Niño later in 2017
> Raw sugar pivots down to 3-month low; cocoa, coffee slip
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 0045 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 5830 -28.00 5802 5852 203216
CHINA SOYOIL MAY7 6504 -26.00 6482 6514 108060
CBOT SOY OIL MAY7 33.11 -6.70 0 0 0
INDIA PALM OIL MAR7 527.50 -6.70 526.00 536.5 2234
INDIA SOYOIL MAR7 651.6 -8.55 650.2 661 14650
NYMEX CRUDE APR7 49.51 +0.23 49.47 49.63 4801
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