KUALA LUMPUR, May 23 (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 the highest in more than one month on
Wednesday, as investors pinned their hopes on demand recovery ahead of the
Muslim holy month of Ramadan.
* U.S. corn and wheat futures rallied on Wednesday on a bargain-buying bounce
after prices fell to multiweek lows earlier this week, traders said.
* Oil prices fell on Wednesday as a rise in U.S. gasoline inventories prompted
selling, then crude extended losses in late trading after minutes from a Federal
Reserve policy meeting sent U.S. stock markets down.
MARKET NEWS
* U.S. stocks fell on Wednesday with the S&P 500 posting its biggest decline
in three weeks, after minutes from the latest U.S. Federal Reserve meeting
showed some officials were open to tapering large-scale asset purchases as early
as at the June meeting.
* Oil prices slumped on Wednesday after data showing an unexpected jump in U.S.
gasoline stockpiles in the world's top oil consumer and gold slipped too after
the Federal Reserve chief warned of the risks of holding down U.S. rates for too
long.
RELATED NEWS
>Strike stalls scores of grains ships in Argentina
>India set to resume oilmeal exports to China-trade body
Key commodity markets at 0026 GMT
Contract Month Last Change Low High Volume
RINGGIT/USD 3.038 +0.02 3.025 3.04
CHINA PALM OLEIN SEP3 0 +0.00 0 0 0
CHINA SOYOIL SEP3 0 +0.00 0 0 0
CBOT SOYOIL JUL3 49.67 +0.03 49.58 49.70 379
NYMEX CRUDE JUL3 94.07 -0.21 93.88 94.18 1797
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)
