KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Friday.
FUNDAMENTALS
* Malaysian palm oil futures eased for the first time in five days on Thursday
as investors banked profits after prices hit a three-week high, although
optimism of improving food and fuel demand kept stemmed losses.
* U.S. wheat futures firmed on Thursday, supported by short-covering, concerns
that a recent cold snap in key growing areas damaged some of the crop and
worries that grain shipments from the Black Sea could be disrupted by political
unrest in Ukraine, traders said.
* Brent crude oil fell on Thursday, stalling below $100 a barrel after the
United States, Russia, Ukraine and the European Union jointly called for an end
to the violence in Ukraine, taking some risk premium out of the market, while
U.S. oil rose on positive economic data.
MARKET NEWS
* Global equity markets rose on Thursday, boosted by solid U.S. economic data
and upbeat results from some U.S. companies, including General Electric, while
the dollar rose after a joint call by major powers for an end to the fighting in
Ukraine.
* Commodities had the best quarter in 18 months as trading for March ended on
Monday, with weather and economic growth likely to determine if gas, gold,
grains, lean hogs and coffee continue going higher and draw money into the
space.
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DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance
to release Malaysia's April 1-20 palm oil export data on April 21.
Palm, soy and crude oil prices at 0020 GMT
Contract Month Last Change Low High Volume
MY PALM OIL MAY4 0 +0.00 0 0 0
MY PALM OIL JUN4 0 +0.00 0 0 0
MY PALM OIL JUL4 0 +0.00 0 0 0
CHINA PALM OLEIN SEP4 0 +0.00 0 0 0
CHINA SOYOIL SEP4 0 +0.00 0 0 0
CBOT SOY OIL JUL4 43.59 -0.34 43.44 43.94 50892
NYMEX CRUDE MAY4 104.30 +0.54 103.54 104.78 179888
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
Crude in U.S. dollars per barrel
- Reuters
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