KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Wednesday.
FUNDAMENTALS
* Malaysian palm oil futures jumped 1.5 percent on Tuesday, rising for a second
consecutive session as expectations of higher demand and a weaker ringgit drove
prices higher.
* U.S. corn futures jumped on Tuesday as concerns about slow planting progress
helped fuel a rebound from sharp losses the previous session, while soybean
futures tumbled on increased imports into the United States.
* U.S. crude futures fell on Tuesday ahead of data expected to show that
inventories in the world's top oil-consuming nation have risen close to record
highs.
MARKET NEWS
* Global equity markets rose on Tuesday, lifted by solid U.S. corporate earnings
and deal-making activity among European drugmakers, while the euro edged above
break-even.
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DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance
to release Malaysia's April 1-25 palm oil export data on April 25.
Palm, soy and crude oil prices at 0032 GMT
Contract Month Last Change Low High Volume
MY PALM OIL MAY4 0 +0.00 0 0 0
MY PALM OIL JUN4 0 +0.00 0 0 0
MY PALM OIL JUL4 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 JUL4 43.06 +0.08 43.00 43.06 324
NYMEX CRUDE JUN4 101.81 +0.06 101.78 101.99 1278
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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