MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch May 15
VEGOILS-Market Factors to Watch May 15
15/02/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures ended Friday's trade in negative territory, dragged down by weaker soyoil on the Chicago Board of Trade and traders taking profits ahead of export data due on Monday.
* U.S. corn futures firmed on Friday on light short-covering ahead of the weekend and uncertainty about planting weather in the Midwest, analysts said, while soybeans and wheat closed modestly lower.
* Oil prices settled slightly higher on Friday as lower U.S. crude inventories and increasing support for continued OPEC-led production cuts inspired hope that the global supply glut can be reduced.
MARKET NEWS
* A measure of stock markets around the globe edged up on Friday led by European and emerging market equities while underwhelming U.S. retail sales data pushed U.S. Treasury yields and the dollar lower.
RELATED
> Singapore's Wilmar pursues China prospects with renewed listing plan
> China's vow to review U.S. GMO crops may speed seed sales
> Mexican beef exporters look to Muslim markets as U.S. alternatives
> Wooing investors after Elliott, BHP boss to play up shale
> Cheniere in talks to boost LNG shipments to China
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia’s May 1-15 palm oil export data on May 15.
> Cargo surveyor SGS releases Malaysia’s May 1-15 palm oil export data on May 15.
Palm, soy and crude oil prices at 0045 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 5494 +18.00 5454 5502 189074
CHINA SOYOIL SEP7 5984 +20.00 5930 5994 204340
CBOT SOY OIL JUL7 32.92 -2.50 32.8 32.96 1310
INDIA PALM OIL MAY7 500.80 -2.50 499.00 504.1 1191
INDIA SOYOIL MAY7 624.95 +0.50 623 626.05 3260
NYMEX CRUDE JUN7 47.85 +0.01 47.75 47.88 5146
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 Friday's trade in negative territory, dragged down by weaker soyoil on the Chicago Board of Trade and traders taking profits ahead of export data due on Monday.
* U.S. corn futures firmed on Friday on light short-covering ahead of the weekend and uncertainty about planting weather in the Midwest, analysts said, while soybeans and wheat closed modestly lower.
* Oil prices settled slightly higher on Friday as lower U.S. crude inventories and increasing support for continued OPEC-led production cuts inspired hope that the global supply glut can be reduced.
MARKET NEWS
* A measure of stock markets around the globe edged up on Friday led by European and emerging market equities while underwhelming U.S. retail sales data pushed U.S. Treasury yields and the dollar lower.
RELATED
> Singapore's Wilmar pursues China prospects with renewed listing plan
> China's vow to review U.S. GMO crops may speed seed sales
> Mexican beef exporters look to Muslim markets as U.S. alternatives
> Wooing investors after Elliott, BHP boss to play up shale
> Cheniere in talks to boost LNG shipments to China
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia’s May 1-15 palm oil export data on May 15.
> Cargo surveyor SGS releases Malaysia’s May 1-15 palm oil export data on May 15.
Palm, soy and crude oil prices at 0045 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 5494 +18.00 5454 5502 189074
CHINA SOYOIL SEP7 5984 +20.00 5930 5994 204340
CBOT SOY OIL JUL7 32.92 -2.50 32.8 32.96 1310
INDIA PALM OIL MAY7 500.80 -2.50 499.00 504.1 1191
INDIA SOYOIL MAY7 624.95 +0.50 623 626.05 3260
NYMEX CRUDE JUN7 47.85 +0.01 47.75 47.88 5146
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