KUALA LUMPUR, May 22 (Reuters) - The following factors are likely to
influence Malaysian palm oil futures and other vegetable oil markets on
Wednesday.
FUNDAMENTALS
* Malaysian palm oil futures ended flat on Tuesday, as hopes for a recovery in
demand ahead of the Muslim holy month of Ramadan offset lower exports in the
first 20 days of May.
* U.S. corn futures dropped 1.5 percent, to their lowest since early April, on
Tuesday as investors unwound bull spreads following a record planting pace last
week that encouraged farmers to sell some old-crop supplies to ease cash market
tightness, traders said.
* Crude prices fell on Tuesday, led lower by a sharp drop in U.S. gasoline
futures as traders bet the market would be well supplied this summer, and as an
industry report showed rising fuel stockpiles in the world's largest oil
consumer.
MARKET NEWS
* Shares end higher as eyes turn to Fed edged higher on Tuesday amid signs of
improving growth, even though questions about monetary policy limited gains.
* Corn prices hit multi-week lows on Tuesday, which pulled wheat lower, after
record U.S. corn plantings, while oil and metals markets slipped amid worries
the Federal Reserve might cut back its stimulus for the American economy.
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Key commodity markets at 0031 GMT
Contract Month Last Change Low High Volume
RINGGIT/USD 3.0175 +0.00 3.0105 3.019
CHINA PALM OLEIN SEP3 0 +0.00 0 0 0
CHINA SOYOIL SEP3 0 +0.00 0 0 0
CBOT SOYOIL JUL3 49.49 +0.01 49.39 49.54 646
NYMEX CRUDE JUL3 95.73 -0.45 95.51 95.97 2329
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)
