KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Thursday April 9.
FUNDAMENTALS
* Malaysian palm oil futures inched down on Wednesday, retreating further from sharp gains made
earlier in the week as a firm ringgit and concerns over rising palm supplies stifled buying
interest.
* U.S. corn futures fell for the third day in a row on Wednesday as traders staked out
positions ahead of a government report that was expected to boost projections for supplies of
the grain at the end of the crop year, traders said.
* Oil prices dived 6 percent on Wednesday after closing at their highest this year, as a mammoth
rise in U.S. crude stockpiles and news of record Saudi oil production scuttled talk of a
sustained recovery.
MARKET NEWS
* Global equity markets rose on Wednesday and European shares hit eight-year highs on a $70
billion takeover bid by Royal Dutch Shell RDSa.L, while U.S. shares pared gains after the
largest U.S. crude inventory build in 14 years slammed oil prices.
RELATED
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> Blocked entrance to Brazil's Santos port to open overnight
> Premium for old-crop CBOT soy shrinks as China buys from South America
> Russia's EconMin says has proposals on Greece and Russia's food import ban
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data
on Malaysia's April 1-10 palm oil exports on April 10.
> Industry regulator the Malaysian Palm Oil Board (MPOB) to release data on Malaysia's end-March
palm oil stocks, exports and production on April 10.
Palm, soy and crude oil prices at 0020 GMT
Contract Month Last Change Low High Volume
MY PALM OIL APR5 0 +0.00 0 0 0
MY PALM OIL MAY5 0 +0.00 0 0 0
MY PALM OIL JUN5 0 +0.00 0 0 0
CHINA PALM OLEIN SEP5 4684 -30.00 4678 4702 143792
CHINA SOYOIL SEP5 5386 -32.00 5380 5406 152116
CBOT SOY OIL MAY5 30.94 -3.80 30.81 30.94 327
INDIA PALM OIL APR5 438.00 -3.80 438.00 442.80 1055
INDIA SOYOIL APR5 605.60 -0.30 604.30 609.40 12980
NYMEX CRUDE MAY5 51.04 +0.62 50.86 51.08 1951
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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