KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets Monday.
FUNDAMENTALS
* Malaysian palm oil futures ended higher on Friday, following gains in overseas
soyoil markets, although a stronger ringgit and investor wariness ahead of
industry data capped the advance and kept prices in a tight range.
* U.S. corn futures fell 1.7 percent on Friday, retreating from a one-month
high after the U.S. Department of Agriculture raised its forecasts of global
inventories above trade expectations, traders said.
* U.S. crude futures fell modestly in range-bound trade on Friday as the market
balanced support from a drawdown in domestic crude stockpiles against technical
sell points that have kept oil from rallying, while Brent was lower as traders
awaited developments in the Ukraine crisis.
MARKET NEWS
* Wall Street's blue chips set a record close in a lackluster session on Friday
while the U.S. dollar strengthened against the euro and Japanese yen after the
European Central Bank signaled it could deliver fresh monetary stimulus next
month.
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DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance
to release Malaysia's May 1-10 palm oil export data on May 12.
> Industry regulator the Malaysian Palm Oil Board (MPOB) to release data on
Malaysia's end-April palm oil stocks, exports and production on May 12.
Palm, soy and crude oil prices at 0027 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 41.26 +0.08 41.13 41.30 601
NYMEX CRUDE JUN4 100.12 +0.13 99.93 100.14 1080
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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