MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch April 28
VEGOILS-Market Factors to Watch April 28
28/04/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures reversed gains on Thursday evening as the market took profit after hitting a two-week high.
* Chicago corn and soybean futures edged higher on Thursday on concerns about weather delays to spring planting and relief that the White House will not immediately withdraw the United States from the North American Free Trade Agreement (NAFTA).
* Crude prices were slightly lower after a volatile session on Thursday, as the restart of two key Libyan oilfields and concerns about lackluster gasoline demand fed concern over whether major oil producers can alleviate the glut of global inventories.
MARKET NEWS
* A gauge of world stock markets slipped on Thursday as a three-day rally stalled in the wake of a largely expected U.S. tax cut plan, while the euro weakened after comments from European Central Bank President Mario Draghi.
RELATED
> Good Argentina soy yields seen making up for flood, drought losses
> EU 2016/17 soybean imports down 5 pct, palm oil down 18 pct
> Brazil minister backs tariff to curb U.S. ethanol imports
> Dow Chemical eyes consumer markets as it readies for DuPont merger
> Wet planting weather could curb CBOT May corn deliveries
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia’s Apr 1-30 palm oil export data on May 1.
> Cargo surveyor SGS releases Malaysia’s Apr 1-30 palm oil export data on May 1.
Palm, soy and crude oil prices at 0052 GMT
Contract Month Last Change Low High Volume
MY PALM OIL MAY7 0 +0.00 0 0 0
MY PALM OIL JUN7 0 +0.00 0 0 0
MY PALM OIL JUL7 0 +0.00 0 0 0
CHINA PALM OLEIN SEP7 5140 -36.00 5122 5172 154158
CHINA SOYOIL SEP7 5828 -40.00 5812 5844 200246
CBOT SOY OIL JUL7 32.02 -1.40 31.98 32.07 555
INDIA PALM OIL APR7 516.80 -1.40 516.70 519 316
INDIA SOYOIL MAY7 606.05 -8.50 605.4 615.2 21220
NYMEX CRUDE JUN7 49.21 +0.24 49.13 49.27 4927
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 reversed gains on Thursday evening as the market took profit after hitting a two-week high.
* Chicago corn and soybean futures edged higher on Thursday on concerns about weather delays to spring planting and relief that the White House will not immediately withdraw the United States from the North American Free Trade Agreement (NAFTA).
* Crude prices were slightly lower after a volatile session on Thursday, as the restart of two key Libyan oilfields and concerns about lackluster gasoline demand fed concern over whether major oil producers can alleviate the glut of global inventories.
MARKET NEWS
* A gauge of world stock markets slipped on Thursday as a three-day rally stalled in the wake of a largely expected U.S. tax cut plan, while the euro weakened after comments from European Central Bank President Mario Draghi.
RELATED
> Good Argentina soy yields seen making up for flood, drought losses
> EU 2016/17 soybean imports down 5 pct, palm oil down 18 pct
> Brazil minister backs tariff to curb U.S. ethanol imports
> Dow Chemical eyes consumer markets as it readies for DuPont merger
> Wet planting weather could curb CBOT May corn deliveries
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia’s Apr 1-30 palm oil export data on May 1.
> Cargo surveyor SGS releases Malaysia’s Apr 1-30 palm oil export data on May 1.
Palm, soy and crude oil prices at 0052 GMT
Contract Month Last Change Low High Volume
MY PALM OIL MAY7 0 +0.00 0 0 0
MY PALM OIL JUN7 0 +0.00 0 0 0
MY PALM OIL JUL7 0 +0.00 0 0 0
CHINA PALM OLEIN SEP7 5140 -36.00 5122 5172 154158
CHINA SOYOIL SEP7 5828 -40.00 5812 5844 200246
CBOT SOY OIL JUL7 32.02 -1.40 31.98 32.07 555
INDIA PALM OIL APR7 516.80 -1.40 516.70 519 316
INDIA SOYOIL MAY7 606.05 -8.50 605.4 615.2 21220
NYMEX CRUDE JUN7 49.21 +0.24 49.13 49.27 4927
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