MARKET DEVELOPMENT
VEGOILS-Market Factors To Watch April 4
VEGOILS-Market Factors To Watch April 4
04/04/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures were up on Monday, rising from a near six-month low and snapping two sessions of losses as they gained strength from rival oilseed soy and a weaker production outlook.
* U.S. corn futures hit a three-week high on Monday while soybeans set multi-month lows as traders continued to respond to a plantings forecast released Friday by the U.S. Department of Agriculture, analysts said.
* Oil prices fell on Monday as a rebound in Libyan oil output weighed against upbeat economic data from Asia that pointed to strong energy demand from the region.
MARKET NEWS
* Asian share markets were down in skittish early trade on Tuesday as investors held their breath ahead of a potentially tense meeting between U.S. President Donald Trump and his Chinese counterpart Xi Jinping later this week.
RELATED
> Brazil soybean exports hit March record -Anec
> Commodity trader Louis Dreyfus' core profits fall for second year
> "Innovative financing" sours dairy giant in China's rural northeast
> Qatar restarts development of world's biggest gas field after 12-year freeze
> Malaysia's Petronas loaded first cargo from floating LNG unit
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia’s Mar 1-31 palm oil export data on Apr 10.
> Cargo surveyor SGS releases Malaysia’s Mar 1-31 palm oil export data on Apr 10.
Palm, soy and crude oil prices at 0015 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 0 +0.00 0 0 0
CHINA SOYOIL SEP7 0 +0.00 0 0 0
CBOT SOY OIL MAY7 31.42 +6.00 31.41 31.55 792
INDIA PALM OIL APR7 518.70 +6.00 513.00 518.9 1750
INDIA SOYOIL APR7 638.5 +3.40 635.3 640.6 22320
NYMEX CRUDE MAY7 50.22 -0.02 50.21 50.34 4260
FUNDAMENTALS
* Malaysian palm oil futures were up on Monday, rising from a near six-month low and snapping two sessions of losses as they gained strength from rival oilseed soy and a weaker production outlook.
* U.S. corn futures hit a three-week high on Monday while soybeans set multi-month lows as traders continued to respond to a plantings forecast released Friday by the U.S. Department of Agriculture, analysts said.
* Oil prices fell on Monday as a rebound in Libyan oil output weighed against upbeat economic data from Asia that pointed to strong energy demand from the region.
MARKET NEWS
* Asian share markets were down in skittish early trade on Tuesday as investors held their breath ahead of a potentially tense meeting between U.S. President Donald Trump and his Chinese counterpart Xi Jinping later this week.
RELATED
> Brazil soybean exports hit March record -Anec
> Commodity trader Louis Dreyfus' core profits fall for second year
> "Innovative financing" sours dairy giant in China's rural northeast
> Qatar restarts development of world's biggest gas field after 12-year freeze
> Malaysia's Petronas loaded first cargo from floating LNG unit
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia’s Mar 1-31 palm oil export data on Apr 10.
> Cargo surveyor SGS releases Malaysia’s Mar 1-31 palm oil export data on Apr 10.
Palm, soy and crude oil prices at 0015 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 0 +0.00 0 0 0
CHINA SOYOIL SEP7 0 +0.00 0 0 0
CBOT SOY OIL MAY7 31.42 +6.00 31.41 31.55 792
INDIA PALM OIL APR7 518.70 +6.00 513.00 518.9 1750
INDIA SOYOIL APR7 638.5 +3.40 635.3 640.6 22320
NYMEX CRUDE MAY7 50.22 -0.02 50.21 50.34 4260