VEGOILS-Market factors to watch April 9
The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets. FUNDAMENTALS * Malaysian palm oil futures fell to a two-month low on Tuesday after the ringgit climbed to a nearly four-month high, with prices further weighed by estimates showing production in the second-largest grower jumped last month. * U.S. corn and soybean futures rose on Tuesday as traders squared positions a day ahead of a monthly U.S. Department of Agriculture report in which the government is expected to pare its stocks forecasts for both crops, traders said. * U.S. crude oil prices rose more than 2 percent on Tuesday in a technical-driven rally boosted by a weaker U.S. dollar and forecasts for a draw on stockpiles of domestic oil products. MARKET NEWS * The dollar and euro fell sharply against the yen on Tuesday as hopes for additional stimulus out of Japan faded, while bargain-hunting on Wall Street lifted stock prices after three days of losses. * RELATED > CME trading outage sends business back to the pits > The boy is back? Risk of El Nino this year increases > Port workers, truckers at Argentine grains hub to strike > China allows Brazilian corn imports, setback for U.S > Canadian bill would force railways to pay for poor service DATA/EVENTS > Industry regulator the Malaysian Palm Oil Board (MPOB) will release data on Malaysia's end-March palm oil stocks, exports and production on April 10. > Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance will release Malaysia's April 1-10 palm oil export data on April 10. Soy and crude oil prices at 2349 GMT Contract Month Last Change Low High Volume CBOT SOY OIL MAY4 42.14 +0.00 0.00 0.00 0 NYMEX CRUDE MAY4 102.34 -0.22 102.19 102.38 1277 Crude in U.S. dollars per barrel * For a table on Malaysian physical palm oil prices, including refined oil, Reuters Terminal users can double click on or type. * To view freight rates from Peninsula Malaysia/Sumatra to China, India, Pakistan and Rotterdam, please key in and press enter, or double click between the brackets. * Reuters Terminal users can see cash and futures edible oil prices by double clicking on the codes in the brackets: To go to the next page in the same chain, hit F12. To go back, hit F11. Vegetable oils -- Malaysian palm oil exports -- CBOT soyoil futures -- <0#BO:> CBOT soybean futures -- <0#S:> Indian solvent -- Weekly Indian vegetable oils -- Dalian Commodity Exchange -- Dalian soyoil futures -- <0#DBY:> Dalian refined palm oil futures -- <0#DCP:> Zhengzhou rapeseed oil -- <0#COI:> European edible oil prices/trades --
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