KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Friday Feb 27.
FUNDAMENTALS
* Malaysian palm oil futures inched up on Thursday, tracking gains in crude
markets, but uncertainty over global appetite for the vegetable oil and
prospects of a faster-than-expected recovery in weather-hit yields kept prices
rangebound.
* Chicago soybean futures rose on Thursday on uncertainty over the Brazilian
trucker strike, which threatens to stall movement of the new harvest of the
grain onto the world market, traders and analysts said.
* Crude oil futures fell sharply on Thursday as rising inventories in the United
States pressured both Brent and U.S. contracts and countered expectations for
recovering demand.
MARKET NEWS
* Global equities dipped on Thursday as investor enthusiasm was dampened by a
pullback in oil prices related to rising inventories, while the dollar rose as
economic data drove expectations that the Federal Reserve will raise interest
rates.
RELATED
> Truckers carry on Brazil strike despite gov't offers, threats
> GrainCorp says earnings likely to fall to five-year low
> More U.S. grain elevators accept GMO Syngenta corn banned by China
> Firm cash mkts seen limiting CBOT March soybean, meal deliveries
> IGC sees smaller global wheat, corn crops in 2015/16
> EU requests WTO dispute panel over Russian import duties
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance
to release data on Malaysia's February palm oil exports on March 2.
Palm, soy and crude oil prices at 0030 GMT
Contract Month Last Change Low High Volume
MY PALM OIL MAR5 0 +0.00 0 0 0
MY PALM OIL APR5 0 +0.00 0 0 0
MY PALM OIL MAY5 0 +0.00 0 0 0
CHINA PALM OLEIN MAY5 4970 +14.00 4966 4986 51588
CHINA SOYOIL MAY5 5554 +6.00 5540 5572 64106
CBOT SOY OIL MAY5 32.01 +0.20 0.00 0.00 0
INDIA PALM OIL FEB5 453.00 +0.20 452.50 453.90 280
INDIA SOYOIL APR5 595.30 +2.40 593.90 597.50 25830
NYMEX CRUDE APR5 48.86 +0.69 48.77 49.00 2215
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
- Reuters
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