MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch April 14
VEGOILS-Market Factors to Watch April 14
14/04/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures ended lower on Thursday, weighed down by a stronger ringgit MYR= and an announcement that Malaysia's crude palm oil export tax would be higher than expected.
* U.S. soybean futures hit a near two-week high on Thursday on bargain buying after the front contract this week fell to its lowest level in a year, and as traders shifted their attention to U.S. planting prospects.
* Oil prices were little changed in modest volume on Thursday, during a week in which crude benchmarks recouped more of March's losses on increased hopes world supply and demand were nearing balance.
MARKET NEWS
* Wall Street indexes fell along with U.S. Treasury yields on Thursday on safe-haven demand spurred by geopolitical worries, and the U.S. dollar rebounded after a sell-off following remarks by President Donald Trump on Wednesday was seen as an overreaction.
RELATED
> U.S. to launch probe into Argentina, Indonesia biodiesel imports
> POLL-NOPA March U.S. soy crush forecast at 156.728 mln bushels
> Armyworms ravage crops in southern Ethiopia
> Rains seen stalling planting in western U.S. Corn Belt next week
> Russian, Turkish Deputy PMs to hold talks in Moscow on April 18
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia’s Apr 1-15 palm oil export data on Apr 15.
> Cargo surveyor SGS releases Malaysia’s Apr 1-15 palm oil export data on Apr 15.
Palm, soy and crude oil prices at 0009 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 5224 +6.00 5202 5234 169406
CHINA SOYOIL SEP7 5964 +28.00 5932 5980 179492
CBOT SOY OIL MAY7 31.19 -0.10 31.16 31.48 63850
INDIA PALM OIL APR7 517.00 -0.10 514.70 521.5 1818
INDIA SOYOIL APR7 634.8 -1.45 632.5 638.6 3340
NYMEX CRUDE MAY7 53.18 +0.07 52.82 53.39 443511
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 ended lower on Thursday, weighed down by a stronger ringgit MYR= and an announcement that Malaysia's crude palm oil export tax would be higher than expected.
* U.S. soybean futures hit a near two-week high on Thursday on bargain buying after the front contract this week fell to its lowest level in a year, and as traders shifted their attention to U.S. planting prospects.
* Oil prices were little changed in modest volume on Thursday, during a week in which crude benchmarks recouped more of March's losses on increased hopes world supply and demand were nearing balance.
MARKET NEWS
* Wall Street indexes fell along with U.S. Treasury yields on Thursday on safe-haven demand spurred by geopolitical worries, and the U.S. dollar rebounded after a sell-off following remarks by President Donald Trump on Wednesday was seen as an overreaction.
RELATED
> U.S. to launch probe into Argentina, Indonesia biodiesel imports
> POLL-NOPA March U.S. soy crush forecast at 156.728 mln bushels
> Armyworms ravage crops in southern Ethiopia
> Rains seen stalling planting in western U.S. Corn Belt next week
> Russian, Turkish Deputy PMs to hold talks in Moscow on April 18
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia’s Apr 1-15 palm oil export data on Apr 15.
> Cargo surveyor SGS releases Malaysia’s Apr 1-15 palm oil export data on Apr 15.
Palm, soy and crude oil prices at 0009 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 5224 +6.00 5202 5234 169406
CHINA SOYOIL SEP7 5964 +28.00 5932 5980 179492
CBOT SOY OIL MAY7 31.19 -0.10 31.16 31.48 63850
INDIA PALM OIL APR7 517.00 -0.10 514.70 521.5 1818
INDIA SOYOIL APR7 634.8 -1.45 632.5 638.6 3340
NYMEX CRUDE MAY7 53.18 +0.07 52.82 53.39 443511
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