MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch May 5
VEGOILS-Market Factors to Watch May 5
05/05/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures bounced back on Thursday, after recording their sharpest fall in a week in the previous session, helped by a weaker ringgit MYR= and stronger performing soyoil.
* U.S. wheat futures fell 3.7 percent on Thursday, pressured by results from a crop tour that showed yield prospects in Kansas remained above average despite a severe snow storm, traders said.
* Oil prices plunged to five-month lows on Thursday amid record trading volume in Brent crude, as OPEC and other producers appeared to rule out deeper supply cuts to reduce the world's persistent glut of crude.
MARKET NEWS
* Asian stocks are set for a third straight day of losses on Friday as a retreat in crude oil and other commodities prices knocked global sentiment, although receding concerns about France's presidential election kept the euro near six-month highs.
RELATED
> Malaysia's clogged oil shipping lanes underscore failure to reduce glut
> Agribusiness ADM to expand in Europe amid global shake up -company
> Huge crops, record storage signal more woes for grain merchants
> U.S. farm groups pile on Canada as Trump eyes trade fairness
> China's Cofco to import more European dairy, meat products
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 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 5216 +32.00 5190 5250 276366
CHINA SOYOIL SEP7 5822 -24.00 5816 5860 229100
CBOT SOY OIL JUL7 32.55 +1.00 32.42 32.57 494
INDIA PALM OIL MAY7 490.00 +1.00 488.40 492.3 1904
INDIA SOYOIL MAY7 617.7 +5.20 614 619.7 23440
NYMEX CRUDE JUN7 45.54 +0.02 45.49 45.61 12774
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 bounced back on Thursday, after recording their sharpest fall in a week in the previous session, helped by a weaker ringgit MYR= and stronger performing soyoil.
* U.S. wheat futures fell 3.7 percent on Thursday, pressured by results from a crop tour that showed yield prospects in Kansas remained above average despite a severe snow storm, traders said.
* Oil prices plunged to five-month lows on Thursday amid record trading volume in Brent crude, as OPEC and other producers appeared to rule out deeper supply cuts to reduce the world's persistent glut of crude.
MARKET NEWS
* Asian stocks are set for a third straight day of losses on Friday as a retreat in crude oil and other commodities prices knocked global sentiment, although receding concerns about France's presidential election kept the euro near six-month highs.
RELATED
> Malaysia's clogged oil shipping lanes underscore failure to reduce glut
> Agribusiness ADM to expand in Europe amid global shake up -company
> Huge crops, record storage signal more woes for grain merchants
> U.S. farm groups pile on Canada as Trump eyes trade fairness
> China's Cofco to import more European dairy, meat products
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 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 5216 +32.00 5190 5250 276366
CHINA SOYOIL SEP7 5822 -24.00 5816 5860 229100
CBOT SOY OIL JUL7 32.55 +1.00 32.42 32.57 494
INDIA PALM OIL MAY7 490.00 +1.00 488.40 492.3 1904
INDIA SOYOIL MAY7 617.7 +5.20 614 619.7 23440
NYMEX CRUDE JUN7 45.54 +0.02 45.49 45.61 12774
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