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 on Thursday after an industry report
showed that stocks in world's second-largest grower unexpectedly rose, and as a
firm ringgit continued to drag on prices.
* Soybeans sagged as Chinese defaults on purchases of U.S. and Brazilian
soybeans triggered a fresh round of profit-taking, one day after the market set
an 8-1/2-month high.
* Global crude oil drifted modestly lower on Thursday, pressured by weaker
economic data from China as well as the prospect of a rebound in oil exports
from Libya
MARKET NEWS
* Wall Street stocks tumbled on Thursday as investors exited technology and
biotech shares, extending recent weakness and knocking the Nasdaq down by more
than 3 percent.
*
RELATED
> Malaysia March palm stocks up, output jumps more than expected
> China March commodity imports resilient despite slower economy
> Chinese importers default on U.S., Brazil soy cargoes -sources
> Malaysia's Apr 1-10 palm oil exports rose 3.2 pct -SGS
> Malaysia's April 1-10 palm exports up 4.4 pct m/m - ITS
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance
will release Malaysia's April 1-15 palm oil export data on April 15.
Soy and crude oil prices at 2358 GMT
Contract Month Last Change Low High Volume
CBOT SOY OIL MAY4 42.55 +0.00 0.00 0.00 0
NYMEX CRUDE MAY4 103.24 -0.16 103.22 103.42 601
CBOT soy oil in U.S. cents per pound
Crude in U.S. dollars per barrel
- Reuters
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