KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Friday.
FUNDAMENTALS
* Malaysian palm oil futures ended lower Thursday after a slight pick-up a day
earlier, to fall for seven out of the last eight sessions, as poor export data
stoked concerns of dwindling global demand for the tropical oil.
* U.S. wheat futures retreated from an 11-month high on profit-taking on
Thursday, while soybeans rose for the fourth consecutive session on concerns
about tightening supplies.
* Brent crude oil futures rose on Thursday as sanctions against Russia injected
a new risk premium into the market and strong equities provided support, while
U.S. crude fell ahead of the April contract's expiry.
MARKET NEWS
* Global equity markets edged lower on Thursday as investors positioned for a
speedier rise in U.S. interest rates than previously thought, but Wall Street
reassessed its view on a possible rate hike and also got a boost from data that
pointed to an improving economy.
* Copper sank to 8-1/2 month lows on Monday, dropping steeply for a second
session, while oil lost more than a dollar and Shanghai-traded commodities
slumped after a surprise fall in China's exports heightened fears of an economic
slowdown.
RELATED
> Malaysia's Mar 1-20 palm oil exports fell 12.0 pct -SGS
> Malaysia's March 1-20 palm oil exports fall 12.3 pct -ITS
> India to provide 13.5 billion rupees to hail-hit farmers
> Major China soy buyer trying to resell Brazil cargoes to U.S.
> Wheat hit by profit-taking; soybeans end higher on supply concerns
> USDA warns China could pay premium on future corn imports
> China buys first US corn in two months despite unresolved GMO spat
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance
to release Malaysia's March 1-25 palm oil export data on March 25.
Palm, soy and crude oil prices at 2314 GMT
Contract Month Last Change Low High Volume
MY PALM OIL APR4 0 +0.00 0 0 0
MY PALM OIL MAY4 0 +0.00 0 0 0
MY PALM OIL JUN4 0 +0.00 0 0 0
CHINA PALM OLEIN SEP4 0 +0.00 0 0 0
CHINA SOYOIL SEP4 0 +0.00 0 0 0
CBOT SOY OIL MAY4 41.31 +0.00 0.00 0.00 0
NYMEX CRUDE MAY4 98.63 -0.27 98.54 98.70 848
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
Crude in U.S. dollars per barrel- Reuters
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