KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Monday.
FUNDAMENTALS
* Malaysian palm oil futures on Friday slid to their lowest in over seven
months, following soyoil prices down and recording their biggest monthly loss in
nearly two years.
* U.S. wheat eased on Friday to the lowest in nearly three months, capping the
futures' biggest monthly decline in almost three years as improving weather for
crops kept the market focused on comfortable global supply.
* U.S. crude fell on Friday as traders took profit at the end of the month,
although the American benchmark rose 3 percent in May, underpinned by supply
worries and strong gasoline demand in the United States.
MARKET NEWS
* Tokyo shares led Asia higher early on Monday, lifted by another closing record
on Wall Street and upbeat China data, while the euro held recent gains against
the dollar but remained shaky ahead of a closely watched European Central Bank
meeting.
RELATED
> Tax cuts seen spurring Argentine biodiesel exports this year
> Weak CBOT wheat spread poised to trigger storage rate hike
> U.S. biodiesel output rises to 98 million gallons in March -EIA
> Western Canada planting lags because of soggy conditions
> Ukraine seen heading for record harvest
> China to stockpile 5 mln T of rapeseed for state reserves
> Australia risks organic export growth as it struggles to coexist with GMO
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance
to release Malaysia's May 1-31 palm oil export data on June 2.
Palm, soy and crude oil prices at 0032 GMT
Contract Month Last Change Low High Volume
MY PALM OIL JUN4 0 +0.00 0 0 0
MY PALM OIL JUL4 0 +0.00 0 0 0
MY PALM OIL AUG4 0 +0.00 0 0 0
CHINA PALM OLEIN SEP4 5882 -48.00 5862 5900 235256
CHINA SOYOIL SEP4 6762 -40.00 6750 6788 223938
CBOT SOY OIL JUL4 38.46 -0.04 38.45 38.60 1858
NYMEX CRUDE JUL4 103.02 +0.31 102.84 103.07 2339
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
Limited time offer:
Just RM5 per month.
