KUALA LUMPUR, May 9 (Reuters) - The following factors are likely to
influence Malaysian palm oil futures and other vegetable oil markets on
Thursday.
FUNDAMENTALS
* Malaysian palm oil futures rose to a one-week high on Wednesday, pulling away
from near five-month lows plumbed earlier in the week, as investors eyed a
potential fall in stocks in the world's second-largest producer of the edible
oil.
* U.S. grain and soy futures closed mostly lower on Wednesday as farmers geared
up for what is expected to be their best stretch of planting this spring.
* The spread between Brent and U.S. crude oil futures narrowed sharply in the
last half hour of trade on Wednesday fueled by expectations for increased
capacity to funnel rising U.S. crude oil production out of
benchmark-supply-point Cushing.
MARKET NEWS
* Global equity markets and the euro rose on Wednesday as strong Chinese trade
data and signs that Germany may escape a sharp slowdown pushed shares to
five-year highs worldwide, with U.S. benchmarks climbing to all-time
records.
* Copper prices rose but most commodities were lukewarm on Wednesday despite
strong trade data from major consumer China, underscoring comments by hedge fund
legend Stanley Druckenmiller that the decade-long super rally in raw materials
was over.
RELATED NEWS
> China's oil, iron ore imports rise in April
> Ukraine to raise oilseed, soybeans harvests in 2013 -analyst
Ÿ
> Indonesia's Dharma Satya to raise up to $113 mln in June IPO
> Malaysia April palm oil stocks likely hit 9-mth low
> Shares of Singapore's Wilmar gain after Q1 profit rises 23 pct
DATA/EVENTS
> Industry regulator the Malaysian Palm Oil Board to release the country's palm
output, stocks, exports and imports for April on Friday.
> Cargo surveyors to release Malaysia's May 1-10 exports data also on Friday.
Key commodity markets at 0021 GMT
Contract Month Last Change Low High Volume
RINGGIT/USD 2.96 -0.00 2.962 2.9615
CHINA PALM OLEIN SEP3 0 +0.00 0 0 0
CHINA SOYOIL SEP3 0 +0.00 0 0 0
CBOT SOYOIL JUL3 48.88 +0.06 48.76 48.90 871
NYMEX CRUDE JUN3 96.62 +0.00 96.38 96.68 1694
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)
