MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch May 23
VEGOILS-Market Factors to Watch May 23
23/05/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures rose about 1 percent to hit their highest in a week on Monday as strong export demand put the contract on track for a second straight session of gains.
* Chicago Board of Trade corn and soybean futures rose on Monday morning, supported by concerns that rain will delay field work in key growing areas and may damage some recently seeded crops, traders said.
* Oil prices rose on Monday as growing confidence that top exporters would agree to extend supply curbs this week and speculation that the cuts could be deepened further pushed prices to their highest levels in more than a month.
MARKET NEWS
* The dollar slipped to a more than six-month low on Monday, weighed down by an uncertain U.S. political climate, while oil prices rose on expectations that crude output cuts would continue and the euro surged.
RELATED
> POLL-U.S. corn planting seen 85 pct complete, soybeans at 52 pct
> EU crop monitor trims most yield forecasts after dry, cold spell
> Leader of Nigeria's ruling APC party warns of coup threat
> Turkey expected to import more corn in coming months
> Ivory Coast rain, sun improve prospects for cocoa mid-crop
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia’s May 1-25 palm oil export data on May 25.
> Cargo surveyor SGS releases Malaysia’s May 1-25 palm oil export data on May 25.
Palm, soy and crude oil prices at 2349 GMT
Contract Month Last Change Low High Volume
MY PALM OIL JUN7 0 +0.00 0 0 0
MY PALM OIL JUL7 0 +0.00 0 0 0
MY PALM OIL AUG7 0 +0.00 0 0 0
CHINA PALM OLEIN SEP7 5540 -14.00 5538 5576 131626
CHINA SOYOIL SEP7 5996 -10.00 5986 6022 135086
CBOT SOY OIL JUL7 32.94 +5.10 0 0 0
INDIA PALM OIL MAY7 525.00 +5.10 522.00 525.8 753
INDIA SOYOIL JUN7 638.75 +3.25 636.9 640.3 22070
NYMEX CRUDE JUL7 51.13 +0.00 51.02 51.15 2549
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 rose about 1 percent to hit their highest in a week on Monday as strong export demand put the contract on track for a second straight session of gains.
* Chicago Board of Trade corn and soybean futures rose on Monday morning, supported by concerns that rain will delay field work in key growing areas and may damage some recently seeded crops, traders said.
* Oil prices rose on Monday as growing confidence that top exporters would agree to extend supply curbs this week and speculation that the cuts could be deepened further pushed prices to their highest levels in more than a month.
MARKET NEWS
* The dollar slipped to a more than six-month low on Monday, weighed down by an uncertain U.S. political climate, while oil prices rose on expectations that crude output cuts would continue and the euro surged.
RELATED
> POLL-U.S. corn planting seen 85 pct complete, soybeans at 52 pct
> EU crop monitor trims most yield forecasts after dry, cold spell
> Leader of Nigeria's ruling APC party warns of coup threat
> Turkey expected to import more corn in coming months
> Ivory Coast rain, sun improve prospects for cocoa mid-crop
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia’s May 1-25 palm oil export data on May 25.
> Cargo surveyor SGS releases Malaysia’s May 1-25 palm oil export data on May 25.
Palm, soy and crude oil prices at 2349 GMT
Contract Month Last Change Low High Volume
MY PALM OIL JUN7 0 +0.00 0 0 0
MY PALM OIL JUL7 0 +0.00 0 0 0
MY PALM OIL AUG7 0 +0.00 0 0 0
CHINA PALM OLEIN SEP7 5540 -14.00 5538 5576 131626
CHINA SOYOIL SEP7 5996 -10.00 5986 6022 135086
CBOT SOY OIL JUL7 32.94 +5.10 0 0 0
INDIA PALM OIL MAY7 525.00 +5.10 522.00 525.8 753
INDIA SOYOIL JUN7 638.75 +3.25 636.9 640.3 22070
NYMEX CRUDE JUL7 51.13 +0.00 51.02 51.15 2549
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