MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch May 4
VEGOILS-Market Factors to Watch May 4
04/05/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures fell on Wednesday, posting their biggest intraday drop in a week as the ringgit strengthened and made the vegetable oil more expensive for holders of other currencies.
* U.S. wheat futures steadied on Wednesday, with the markets waiting for a good assessment of the crop damage caused by a snowstorm in Kansas over the weekend, traders said.
* Crude oil lost ground on Thursday, falling for a third out of four sessions and trading near its lowest since late March after data showed a lower than expected decline in U.S. inventories.
MARKET NEWS
* World stock markets fell on Wednesday as declines in iPhone sales triggered some concern about consumers' health, while the dollar strengthened following the policy statement from the U.S. Federal Reserve.
RELATED
> London tries to lure Saudi Aramco with new listing structure - sources
> China to auction 2.51 mln tonnes of corn from state reserves -trade center
> EU trims 2017/18 wheat production outlook, exports unchanged
> Bunge profit dives as grain glut hits margins; shares drop
> U.S. oil inventories dip, but gasoline builds amid weak demand - EIA
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia’s May 1-10 palm oil export data on May 10.
> Cargo surveyor SGS releases Malaysia’s May 1-10 palm oil export data on May 10.
Palm, soy and crude oil prices at 0055 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 5138 -96.00 5132 5218 212468
CHINA SOYOIL SEP7 5824 -66.00 5810 5870 272556
CBOT SOY OIL JUL7 32.53 -3.70 32.53 32.61 849
INDIA PALM OIL MAY7 489.00 -3.70 487.00 492 1295
INDIA SOYOIL MAY7 612.5 -0.10 609 613.7 10570
NYMEX CRUDE JUN7 47.64 -0.18 47.59 47.67 4994
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 fell on Wednesday, posting their biggest intraday drop in a week as the ringgit strengthened and made the vegetable oil more expensive for holders of other currencies.
* U.S. wheat futures steadied on Wednesday, with the markets waiting for a good assessment of the crop damage caused by a snowstorm in Kansas over the weekend, traders said.
* Crude oil lost ground on Thursday, falling for a third out of four sessions and trading near its lowest since late March after data showed a lower than expected decline in U.S. inventories.
MARKET NEWS
* World stock markets fell on Wednesday as declines in iPhone sales triggered some concern about consumers' health, while the dollar strengthened following the policy statement from the U.S. Federal Reserve.
RELATED
> London tries to lure Saudi Aramco with new listing structure - sources
> China to auction 2.51 mln tonnes of corn from state reserves -trade center
> EU trims 2017/18 wheat production outlook, exports unchanged
> Bunge profit dives as grain glut hits margins; shares drop
> U.S. oil inventories dip, but gasoline builds amid weak demand - EIA
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia’s May 1-10 palm oil export data on May 10.
> Cargo surveyor SGS releases Malaysia’s May 1-10 palm oil export data on May 10.
Palm, soy and crude oil prices at 0055 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 5138 -96.00 5132 5218 212468
CHINA SOYOIL SEP7 5824 -66.00 5810 5870 272556
CBOT SOY OIL JUL7 32.53 -3.70 32.53 32.61 849
INDIA PALM OIL MAY7 489.00 -3.70 487.00 492 1295
INDIA SOYOIL MAY7 612.5 -0.10 609 613.7 10570
NYMEX CRUDE JUN7 47.64 -0.18 47.59 47.67 4994
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