KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Friday Feb 6.
FUNDAMENTALS
* Malaysian palm oil climbed more than 5 percent on Thursday, its biggest
single-day gain since October 2010 as the market was buoyed by hopes a plan by
the world's top producer Indonesia to increase biodiesel subsidies would make
blending profitable and as technicals provided support.
* Chicago Board of Trade wheat futures climbed nearly 3 percent on Thursday,
buoyed by a softer dollar and hopes for U.S. sales of the grain to top buyer
Egypt, traders said.
* Crude prices closed up more than 4 percent on Thursday as rising violence in
producer Libya and an expected boost in oil demand from China's central bank
easing helped the market rebound from a sharp rout in the previous session.
MARKET NEWS
* Stock markets around the world mostly rose on Thursday as crude oil rebounded,
although caution remained following the European Central Bank's surprise
decision to strike Greek bonds off its list of accepted collateral.
RELATED
> PREVIEW-Malaysia's Jan palm stocks to hit 6-mth low, output lowest since Feb
2011
> Indonesia moves closer to raising biodiesel subsidies
> World food prices fall in January, unlikely to rally - FAO
> Resource pressures could spark conflicts with global impact - report - TRFN
> Thai crops to suffer worst drought in 15 years
> Argentina 2014-15 soy crop seen at record 57 mln T -exchange
> Soaking rains to benefit Brazil coffee, sugar cane, grain crops
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance
to release data on Malaysia's Feb 1-10 palm oil exports on Feb. 10.
> Industry regulator the Malaysian Palm Oil Board (MPOB) to release data on
Malaysia's end-January palm oil stocks, exports and production on Feb 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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