Malaysian palm oil/Vegoils: Market factors to watch Friday March 6


KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Friday March 6.
    
FUNDAMENTALS
* Malaysian palm oil futures dropped to their lowest in nearly a week on
Thursday, backtracking from a rally that had lifted the contract to an
eight-month top, after top industry analysts painted a gloomy outlook for the
second half of the year. 
* Chicago wheat futures fell to their lowest nearby price in five months on
Thursday, pressured by the stronger dollar and huge global supplies. Soybeans
fell for the fourth straight session on bleak export prospects in the face of
stiff competition, traders said. Corn finished slightly higher. 
* Oil closed lower on Thursday in volatile trade, as a soaring dollar and the
U.S. pursuit of an Iranian nuclear deal offset earlier gains from supply
concerns in Libya and Iraq. 
    
MARKET NEWS
* The dollar was in high demand in Asia on Friday as bulls wagered a looming
U.S. jobs report would add to the chance of rate hikes there, even as the
European Central Bank embarks on a trillion euro campaign of bond-buying.
 
      
RELATED
> World food prices continue to fall in February - U.N. FAO  
> Weaker currencies sap Asian appetite for grains, oilseeds  
> Philippine coconut oil exports to stay weak on typhoons, pest damage -industry
  
> India Feb soymeal exports at 4-month low, high prices deter buyers
 
> Louis Dreyfus ships big U.S. ethanol cargo to Middle East -traders
 
> INTERVIEW-Ukraine seeks to double corn exports to China    
> Brazil's Agroconsult forecasts record Brazil cane crop     
    
    
DATA/EVENTS 
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance
to release data on Malaysia's March 1-10 palm oil exports on March 10. 
> Industry regulator the Malaysian Palm Oil Board (MPOB) to release data on
Malaysia's end-February palm oil stocks, exports and production on March 10.
    
  Palm, soy and crude oil prices at 0452 GMT
                                                                              
  Contract        Month    Last   Change     Low    High  Volume
  MY PALM OIL      FEB5    2240   -24.00    2230    2254      29
  MY PALM OIL      MAR5    2228   -19.00    2220    2249     388
  MY PALM OIL      APR5    2210   -20.00    2202    2222    7986
  CHINA PALM OLEIN MAY5    4846   -22.00    4844    4874  180294
  CHINA SOYOIL     MAY5    5514   -52.00    5508    5562  240078
  CBOT SOY OIL     MAR5   31.48    -3.50   31.47   31.57    2367
  INDIA PALM OIL   JAN5  434.90    -3.50  434.00  439.50     488
  INDIA SOYOIL     FEB5  616.00    -9.00  615.70  624.80   50145
  NYMEX CRUDE      MAR5   45.06    -0.53   44.35   45.35   25835
                                                                              
  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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