KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Wednesday.
FUNDAMENTALS
* Malaysian palm oil futures edged up on Monday after a better-than-expected
export data for the first 10 days of the month signalled stronger demand for the
tropical oil as buyers replenished stocks ahead of a Muslim festival.
* U.S. soybean futures rose 1.3 percent on Tuesday, rebounding from Monday's
sell-off on a round of bargain buying and some position squaring ahead of a
report that will show how big demand from domestic crushers was in April,
traders said.
* U.S. crude oil rose by more than $1 a barrel to two-week highs on Tuesday as
traders expected weekly government inventory reports to show stockpiles at the
Cushing, Oklahoma, delivery point plunged to new record lows last week.
MARKET NEWS
* Asian shares inched up on Wednesday, while the euro wobbled close to five-week
lows on heightened speculation of more European Central Bank stimulus next
month.
RELATED
> Malaysia April palm stocks hit 3-mth high on strong output
> Argentine soy crop seen 55.7 mln tonnes-Rosario exchange
> France sees 5.5 pct fall in maize area this year
> Taiwan's MFIG buys 60,000 T corn from Brazil in tender
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance
to release Malaysia's May 1-15 palm oil export data on May 15.
Palm, soy and crude oil prices at 0032 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 41.36 +0.16 41.26 41.37 475
NYMEX CRUDE JUN4 101.88 +0.18 101.83 101.98 1159
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
Already a subscriber? Log in.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!