Malaysian palm oil/Vegoils: Market factors to watch wednesday March 11


  • Business
  • Wednesday, 11 Mar 2015

KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Wednesday March 11.
    
FUNDAMENTALS
* Malaysian palm oil futures fell to a 2-week low on Tuesday, stretching its
losing streak into a fifth day as disappointing exports in early March,
alongside losses in crude and soy markets, piled pressure onto the benchmark
contract. 
* Chicago Board of Trade soybean futures fell on Tuesday after the U.S.
Department of Agriculture surprised analysts by leaving its forecast of domestic
soy inventories unchanged in a monthly report. 
* A rallying dollar sent oil prices sharply lower on Tuesday, with Brent falling
more than U.S. crude as players took profits on recent highs in Brent's premium,
traders said. 
    
MARKET NEWS
* The U.S. dollar rallied across the board on Tuesday as the prospect of the
first rise in U.S. interest rates in almost a decade stoked global volatility,
hitting stocks and oil prices. 
      

RELATED
> Malaysian palm stocks at 7-mth low, Feb exports weakest since 2007
 
> Malaysia's Mar 1-10 palm oil exports fell 19.3 pct -SGS       
> Malaysia's March 1-10 palm exports fall 12.3 pct m/m -ITS     
> India's rapeseed crop hinges on rain after untimely downpour  
> Singapore Exchange in early talks for regional rubber bourse  
> Brazil government cuts soy crop forecast                      
> India's rapeseed crop hinges on rain after untimely downpour  
> INTERVIEW-Argentine farm group threatens more grain sale strikes
 
> Indonesia's wheat imports seen up 5 pct in 2015 -industry group
 

    
DATA/EVENTS 
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance
to release data on Malaysia's March 1-15 palm oil exports on March 16. 
    
  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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