Kuala Lumpur: The following factors are likely to influence Malaysian palm oil futures and
other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures rose to a near one-week high on Monday, lifted by
gains in China and U.S. soyoil markets, while positive export data late last
week fuelled optimism of a recovery in demand for the tropical oil.
* U.S. wheat rose for the fifth straight session, climbing to a two-week high on
Monday on concerns that drought conditions in the southern Plains could cut
yields before an annual crop tour this week in the top-growing state of Kansas,
analysts said.
* Brent crude oil prices fell almost $1.50 a barrel on Monday as Libya prepared
to resume exports from an eastern port, while the spread versus U.S. futures
abruptly narrowed after widening for two weeks.
MARKET NEWS
* Global equity markets rebounded in rocky trade on Monday after a $100 billion
bid for AstraZeneca boosted speculation of further corporate deal-making, while
crude oil prices fell as major producer Libya prepared to resume
exports.
* Commodities had the best quarter in 18 months as trading for March ended on
Monday, with weather and economic growth likely to determine if gas, gold,
grains, lean hogs and coffee continue going higher and draw money into the
space.
RELATED
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> Syngenta expects no word on China GMO corn decision until summer
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance
to release Malaysia's April palm oil export data on April 30.
Palm, soy and crude oil prices at 0003 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 42.85 +0.02 42.75 42.86 373
NYMEX CRUDE JUN4 100.86 +0.02 100.81 100.93 700
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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