MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Mar 15
VEGOILS-Market Factors to Watch Mar 15
15/03/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures rebounded from a near five-month low to gain in late trade on Tuesday, supported by expectations of stronger demand ahead of a cargo surveyor data release.
* Chicago Board of Trade soybean futures declined on Tuesday for a seventh straight session, dropping below $10 a bushel as hefty South American harvests threatened U.S. soy export prospects, traders said.
* U.S. oil prices rose more than 2 percent in early Asian trade on Wednesday, recovering from a three-month low after industry data showed a surprise drawdown in U.S. crude stockpiles.
MARKET NEWS
* Asian equities opened slightly lower, as investors stayed cautious awaiting the outcome of several central bank meetings later on Wednesday.
RELATED
> U.S. soy seedings seen at 88.8 mln acres, corn 90.0 mln -survey
> Terminal gives timely boost to Brazil's soy, sugar shipping capacity
> Malaysia lowers April crude palm oil export tax to 7.5 pct
> Weak El Nino to have small impact on Asian crops this year - MDA Weather
> Poultry breeder Aviagen culls U.S. flock over bird flu fears
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia’s Mar 1-15 palm oil export data on Mar 15.
> Cargo surveyor SGS releases Malaysia’s Mar 1-15 palm oil export data on Mar 15.
Palm, soy and crude oil prices at 0040 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 5800 +32.00 5710 5806 196336
CHINA SOYOIL MAY7 6364 -6.00 6294 6372 172368
CBOT SOY OIL MAY7 32.25 +6.50 32.23 32.29 635
INDIA PALM OIL MAR7 524.00 +6.50 516.00 526.8 2683
INDIA SOYOIL MAR7 648 +3.25 643.1 650.65 10000
NYMEX CRUDE APR7 48.43 +0.71 48.32 48.87 16657
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 rebounded from a near five-month low to gain in late trade on Tuesday, supported by expectations of stronger demand ahead of a cargo surveyor data release.
* Chicago Board of Trade soybean futures declined on Tuesday for a seventh straight session, dropping below $10 a bushel as hefty South American harvests threatened U.S. soy export prospects, traders said.
* U.S. oil prices rose more than 2 percent in early Asian trade on Wednesday, recovering from a three-month low after industry data showed a surprise drawdown in U.S. crude stockpiles.
MARKET NEWS
* Asian equities opened slightly lower, as investors stayed cautious awaiting the outcome of several central bank meetings later on Wednesday.
RELATED
> U.S. soy seedings seen at 88.8 mln acres, corn 90.0 mln -survey
> Terminal gives timely boost to Brazil's soy, sugar shipping capacity
> Malaysia lowers April crude palm oil export tax to 7.5 pct
> Weak El Nino to have small impact on Asian crops this year - MDA Weather
> Poultry breeder Aviagen culls U.S. flock over bird flu fears
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia’s Mar 1-15 palm oil export data on Mar 15.
> Cargo surveyor SGS releases Malaysia’s Mar 1-15 palm oil export data on Mar 15.
Palm, soy and crude oil prices at 0040 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 5800 +32.00 5710 5806 196336
CHINA SOYOIL MAY7 6364 -6.00 6294 6372 172368
CBOT SOY OIL MAY7 32.25 +6.50 32.23 32.29 635
INDIA PALM OIL MAR7 524.00 +6.50 516.00 526.8 2683
INDIA SOYOIL MAR7 648 +3.25 643.1 650.65 10000
NYMEX CRUDE APR7 48.43 +0.71 48.32 48.87 16657
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