KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Wednesday March 11.
FUNDAMENTALS
* Malaysian palm oil futures fell to a 2-week low on Tuesday, stretching its
losing streak into a fifth day as disappointing exports in early March,
alongside losses in crude and soy markets, piled pressure onto the benchmark
contract.
* Chicago Board of Trade soybean futures fell on Tuesday after the U.S.
Department of Agriculture surprised analysts by leaving its forecast of domestic
soy inventories unchanged in a monthly report.
* A rallying dollar sent oil prices sharply lower on Tuesday, with Brent falling
more than U.S. crude as players took profits on recent highs in Brent's premium,
traders said.
MARKET NEWS
* The U.S. dollar rallied across the board on Tuesday as the prospect of the
first rise in U.S. interest rates in almost a decade stoked global volatility,
hitting stocks and oil prices.
RELATED
> Malaysian palm stocks at 7-mth low, Feb exports weakest since 2007
> Malaysia's Mar 1-10 palm oil exports fell 19.3 pct -SGS
> Malaysia's March 1-10 palm exports fall 12.3 pct m/m -ITS
> India's rapeseed crop hinges on rain after untimely downpour
> Singapore Exchange in early talks for regional rubber bourse
> Brazil government cuts soy crop forecast
> India's rapeseed crop hinges on rain after untimely downpour
> INTERVIEW-Argentine farm group threatens more grain sale strikes
> Indonesia's wheat imports seen up 5 pct in 2015 -industry group
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance
to release data on Malaysia's March 1-15 palm oil exports on March 16.
Palm, soy and crude oil prices at 0452 GMT
Contract Month Last Change Low High Volume
MY PALM OIL FEB5 2240 -24.00 2230 2254 29
MY PALM OIL MAR5 2228 -19.00 2220 2249 388
MY PALM OIL APR5 2210 -20.00 2202 2222 7986
CHINA PALM OLEIN MAY5 4846 -22.00 4844 4874 180294
CHINA SOYOIL MAY5 5514 -52.00 5508 5562 240078
CBOT SOY OIL MAR5 31.48 -3.50 31.47 31.57 2367
INDIA PALM OIL JAN5 434.90 -3.50 434.00 439.50 488
INDIA SOYOIL FEB5 616.00 -9.00 615.70 624.80 50145
NYMEX CRUDE MAR5 45.06 -0.53 44.35 45.35 25835
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
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
