KUALA LUMPUR, April 2 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS * Malaysian palm oil futures slipped to their lowest in nearly three months on Monday as larger-than-expected U.S. soybean stockpiles continued to weigh on markets, although losses were capped by a marginal increase in exports. * Chicago corn prices experienced their biggest two-day drop on record, tumbling 12.6 percent, or 93 cents, as larger-than-expected U.S. stockpiles weighed on the market. * Brent crude rose above $111 a barrel in choppy trading on Monday as Saudi Arabia predicted robust demand from Asia, while U.S. crude prices fell as a pipeline leak in Arkansas threatened to increase the glut of oil in the U.S. Midwest. MARKET NEWS * U.S. equities traded lower and oil prices were mixed on Monday after surveys showed U.S. and Chinese manufacturing in March expanded less than economists had expected. * Grains and metals markets extended their tumble into the second quarter, with corn and copper hitting nine-month lows on Monday amid weaker supply-demand fundamentals and disappointing U.S. and Chinese manufacturing data.
RELATED NEWS > Bangladesh aims to halt 95-octane gasoline imports by 2016 > Thai PTTGC to decide on Malaysian petchem investment plan in 2013 > Malaysia's March palm oil exports up 5.5 pct -ITS > Malaysia's March palm oil exports up 2.8 pct - ITS Key commodity markets at 0012 GMT Contract Month Last Change Low High Volume RINGGIT/USD 3.085 -0.01 3.088 3.098 CHINA PALM OLEIN SEP3 0 +0.00 0 0 0 CHINA SOYOIL SEP3 0 +0.00 0 0 0 CBOT SOYOIL MAY3 50.10 +0.04 50.05 50.19 1082 NYMEX CRUDE MAY3 96.88 -0.19 96.76 97.04 2370 CBOT soy oil in U.S. cents per pound Dalian soy oil in Chinese yuan per tonne Crude in U.S. dollars per barrel Vegetable oils -- Malaysian palm oil exports -- CBOT soyoil futures -- CBOT soybean futures -- Indian solvent -- Weekly Indian vegetable oils -- Dalian Commodity Exchange -- Dalian soyoil futures -- Dalian refined palm oil futures -- Zhengzhou rapeseed oil -- European edible oil prices/trades -- (Reporting by the Kuala Lumpur bureau)
