KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Tuesday.
FUNDAMENTALS
* Malaysian palm oil futures ended lower on Monday, stretching losses into a
fourth straight day, as investors waited for an official report on export demand
and stocks of the tropical oil in the world's second-largest producer.
* U.S. wheat futures jumped nearly 2 percent on Monday as scorching
temperatures in the southern Plains deepened fears about weather damage to the
U.S. hard red winter wheat crop.
* Brent crude oil fell by more than $1 a barrel on Monday, pressured by reports
that China's manufacturing sector contracted and Libya's oil output was
recovering.
MARKET NEWS
* Asian share markets shuffled higher on Tuesday after promising U.S. economic
news helped Wall Street to a firmer finish, though activity was again light with
Tokyo still on holiday.
* Commodities had the best quarter in 18 months as trading for March ended on
Monday, with weather and economic growth likely to determine if gas, gold,
grains, lean hogs and coffee continue going higher and draw money into the
space.
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DATA/EVENTS
> Cargo surveyor Intertek Testing Services to release Malaysia's May 1-10 palm
oil export data on May 10. Another cargo surveyor Societe Generale de
Surveillance to release data for same period on May 12.
> Industry regulator the Malaysian Palm Oil Board (MPOB) to release data on
Malaysia's end-April palm oil stocks, exports and production on May 12.
Palm, soy and crude oil prices at 0042 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 41.09 -0.09 41.07 41.17 684
NYMEX CRUDE JUN4 99.45 -0.03 99.32 99.50 828
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
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