KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Wednesday May 6.
FUNDAMENTALS
* Malaysian palm oil futures jumped more than 3 percent on Tuesday to their highest in nearly
two weeks as the ringgit slid and overseas soyoil markets tracked by palm underpinned sentiment.
* U.S. wheat futures sank 1.3 percent on Tuesday, flirting with five-year lows after rain in key
production areas boosted harvest prospects as the crop nears maturity, traders said.
* Oil prices hit their highest for the year on Tuesday, aided by a disruption in Libyan crude
exports, higher selling prices for Saudi oil and a weaker dollar that tends to inflate commodity
prices.
MARKET NEWS
* Long-term U.S. Treasury yields rose on Tuesday to their highest level this year as investors
reassessed their view on the global economy, while stock prices around the world fell on
worrisome U.S. trade data and news on Asian factory activity.
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DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data
on Malaysia's May 1-10 palm oil exports on May 11.
> Industry regulator the Malaysian Palm Oil Board (MPOB) to release data on Malaysia's end-April
palm oil stocks, exports and production on May 11.
Palm, soy and crude oil prices at 0000 GMT
Contract Month Last Change Low High Volume
MY PALM OIL MAY5 0 +0.00 0 0 0
MY PALM OIL JUN5 0 +0.00 0 0 0
MY PALM OIL JUL5 0 +0.00 0 0 0
CHINA PALM OLEIN SEP5 5102 +64.00 5056 5102 359580
CHINA SOYOIL SEP5 5922 +50.00 5892 5928 492640
CBOT SOY OIL JUL5 33.10 +2.70 33.06 33.11 372
INDIA PALM OIL MAY5 448.00 +2.70 443.10 449.80 2448
INDIA SOYOIL JUN5 601.70 +6.00 594.50 604.00 79500
NYMEX CRUDE JUN5 60.73 +0.32 60.62 60.88 1719
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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