MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch May 26
VEGOILS-Market Factors to Watch May 26
26/05/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures moved off three-week lows on Thursday to trade about 1 percent higher for their first gain in three sessions after cargo surveyor data showed stronger export demand in May.
* U.S. soybean futures fell to a 1-1/2-month low on Thursday, pressured by a sharp drop in crude oil prices, traders said.
* Oil prices tumbled 5 percent on Thursday as the extension of output curbs by OPEC and other producing countries disappointed investors who had hoped for larger cuts, leading to the biggest daily percentage slide in crude prices since early March.
MARKET NEWS
* Two top U.S. equity indexes scaled record peaks on Thursday after strong earnings reports from retailers, outpacing European shares which were little changed, while oil prices plunged after top crude producers extended output cuts for a shorter period than expected.
RELATED
> ADM Gulf Coast grain export elevator shut down after accident
> Brazil's Santander unit sees room to strengthen agribusiness lending
> China's soybean crushing margins hit 9-mth lows as soymeal stocks grow
> GRAINS-Wheat rises on short-covering, U.S. weather concerns
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia’s May 1-31 palm oil export data on May 31.
> Cargo surveyor SGS releases Malaysia’s May 1-31 palm oil export data on May 31.
Palm, soy and crude oil prices at 0033 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 5446 -4.00 5430 5476 152054
CHINA SOYOIL SEP7 5906 -20.00 5888 5934 138532
CBOT SOY OIL JUL7 32.07 -0.20 32.05 32.11 464
INDIA PALM OIL MAY7 520.00 -0.20 519.30 522.3 685
INDIA SOYOIL JUN7 631.45 -0.75 631 635 17770
NYMEX CRUDE JUL7 48.90 +0.00 48.72 48.95 9084
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 moved off three-week lows on Thursday to trade about 1 percent higher for their first gain in three sessions after cargo surveyor data showed stronger export demand in May.
* U.S. soybean futures fell to a 1-1/2-month low on Thursday, pressured by a sharp drop in crude oil prices, traders said.
* Oil prices tumbled 5 percent on Thursday as the extension of output curbs by OPEC and other producing countries disappointed investors who had hoped for larger cuts, leading to the biggest daily percentage slide in crude prices since early March.
MARKET NEWS
* Two top U.S. equity indexes scaled record peaks on Thursday after strong earnings reports from retailers, outpacing European shares which were little changed, while oil prices plunged after top crude producers extended output cuts for a shorter period than expected.
RELATED
> ADM Gulf Coast grain export elevator shut down after accident
> Brazil's Santander unit sees room to strengthen agribusiness lending
> China's soybean crushing margins hit 9-mth lows as soymeal stocks grow
> GRAINS-Wheat rises on short-covering, U.S. weather concerns
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia’s May 1-31 palm oil export data on May 31.
> Cargo surveyor SGS releases Malaysia’s May 1-31 palm oil export data on May 31.
Palm, soy and crude oil prices at 0033 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 5446 -4.00 5430 5476 152054
CHINA SOYOIL SEP7 5906 -20.00 5888 5934 138532
CBOT SOY OIL JUL7 32.07 -0.20 32.05 32.11 464
INDIA PALM OIL MAY7 520.00 -0.20 519.30 522.3 685
INDIA SOYOIL JUN7 631.45 -0.75 631 635 17770
NYMEX CRUDE JUL7 48.90 +0.00 48.72 48.95 9084
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