KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Friday April 17.
FUNDAMENTALS
* Malaysian palm oil futures ended lower for the first time in five days on Thursday as the
contract succumbed to the strong ringgit and concerns that demand in April would be weaker than
anticipated.
* Chicago Board of Trade soft wheat futures rose on Thursday while K.C. hard red winter wheat
fell to multi-year lows on poor export demand and much-needed rains falling in key U.S. crop
areas, traders said.
* Crude oil prices jumped to fresh 2015 peaks on Thursday, turning higher on news that a tribal
group made up of former Al Qaeda militants took control of a major southern oil terminal in
Yemen.
MARKET NEWS
* Wall Street equities finished modestly lower on Thursday as investors worried about coming
corporate results, while European stocks fell nearly 1 percent under the weight of Greece's
worsening financial predicament.
RELATED
> Palm prices may hit 2,300 rgt by end-2015 - Mielke
> Palm stocks to rise in H2 on strong output, poor biodiesel demand-analyst Fry
> Palm buyers seen delaying purchases to get duty-free cargoes from Malaysia
> China considers more subsidies for corn processors, state sales low
> French farmers warn of crop, job losses as Total turns to biofuels
> Zimbabwe takes tobacco road to agriculture recovery
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data
on Malaysia's April 1-20 palm oil exports on April 20.
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
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