MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Mar 21
VEGOILS-Market Factors to Watch Mar 21
21/03/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures on Monday slipped to a second session of declines in three weaker export data, while March output is expected to improve from a month ago.
* U.S. wheat futures fell on Monday, led lower by a 1.9 percent drop in K.C. hard red winter wheat forecasts for improving weather for crop development in key U.S. growing areas.
* Oil prices slipped on Monday, despite news that OPEC was supportive of extending a six-month deal to cut output as investors continue to grapple with worries about growing U.S. oil output and high inventories.
MARKET NEWS
* The U.S. dollar slumped to a six-week low on Monday on worries over a dovish Federal Reserve, while U.S. and European stock markets dipped amid concerns about G20 financial leaders' decision to drop a pledge to keep global trade free and open.
RELATED
> China, EU cut imports of Brazil meat amid scandal
> OPEC leans towards oil cut extension, but non-members need to be in - sources
> Turkish buyers put Russia wheat deals on hold, despite denial of ban - sources
> Hot, dry weather in Ivory Coast stokes concerns for cocoa mid-crop
> Biofuels credits surge ahead of EPA deadline for 2017 requirements
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia’s Mar 1-25 palm oil export data on Mar 25.
> Cargo surveyor SGS releases Malaysia’s Mar 1-25 palm oil export data on Mar 25.
Palm, soy and crude oil prices at 0049 GMT
Contract Month Last Change Low High Volume
MY PALM OIL APR7 0 +0.00 0 0 0
MY PALM OIL MAY7 0 +0.00 0 0 0
MY PALM OIL JUN7 0 +0.00 0 0 0
CHINA PALM OLEIN SEP7 5640 +18.00 5616 5664 134876
CHINA SOYOIL SEP7 6502 -10.00 6500 6550 125168
CBOT SOY OIL MAY7 32.92 +1.30 32.78 32.95 2254
INDIA PALM OIL MAR7 534.00 +1.30 530.00 534.6 1578
INDIA SOYOIL APR7 647.2 +1.95 643.5 649.7 41810
NYMEX CRUDE APR7 48.29 +0.07 47.93 48.30 274
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 on Monday slipped to a second session of declines in three weaker export data, while March output is expected to improve from a month ago.
* U.S. wheat futures fell on Monday, led lower by a 1.9 percent drop in K.C. hard red winter wheat forecasts for improving weather for crop development in key U.S. growing areas.
* Oil prices slipped on Monday, despite news that OPEC was supportive of extending a six-month deal to cut output as investors continue to grapple with worries about growing U.S. oil output and high inventories.
MARKET NEWS
* The U.S. dollar slumped to a six-week low on Monday on worries over a dovish Federal Reserve, while U.S. and European stock markets dipped amid concerns about G20 financial leaders' decision to drop a pledge to keep global trade free and open.
RELATED
> China, EU cut imports of Brazil meat amid scandal
> OPEC leans towards oil cut extension, but non-members need to be in - sources
> Turkish buyers put Russia wheat deals on hold, despite denial of ban - sources
> Hot, dry weather in Ivory Coast stokes concerns for cocoa mid-crop
> Biofuels credits surge ahead of EPA deadline for 2017 requirements
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia’s Mar 1-25 palm oil export data on Mar 25.
> Cargo surveyor SGS releases Malaysia’s Mar 1-25 palm oil export data on Mar 25.
Palm, soy and crude oil prices at 0049 GMT
Contract Month Last Change Low High Volume
MY PALM OIL APR7 0 +0.00 0 0 0
MY PALM OIL MAY7 0 +0.00 0 0 0
MY PALM OIL JUN7 0 +0.00 0 0 0
CHINA PALM OLEIN SEP7 5640 +18.00 5616 5664 134876
CHINA SOYOIL SEP7 6502 -10.00 6500 6550 125168
CBOT SOY OIL MAY7 32.92 +1.30 32.78 32.95 2254
INDIA PALM OIL MAR7 534.00 +1.30 530.00 534.6 1578
INDIA SOYOIL APR7 647.2 +1.95 643.5 649.7 41810
NYMEX CRUDE APR7 48.29 +0.07 47.93 48.30 274
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