KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Monday April 6.
FUNDAMENTALS
* Malaysian palm oil futures rose on Friday, ending a second week of gains, but volumes were thin as Easter holidays in some countries sapped interest in markets.
* U.S. wheat futures jumped to their highest level in six weeks on Thursday on worries that rains in the U.S. Plains next week will be insufficient to relieve intensifying drought conditions.
* Brent oil fell nearly 4 percent on Thursday after a preliminary pact between Iran and global powers on Tehran’s nuclear program, even as officials set further talks in June and analysts questioned when the OPEC member will be allowed to export more crude.
MARKET NEWS
* Asian shares rose and the dollar dropped on Monday, after a dismal U.S. jobs report pushed up U.S. Treasury yields as investors pared bets the U.S. Federal Reserve would hike interest rates anytime soon.
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DATA/EVENTS
> NIL
Palm, soy and crude oil prices at 0027 GMT
Contract Month Last Change Low High Volume
MY PALM OIL APR5 0 +0.00 0 0 0
MY PALM OIL MAY5 0 +0.00 0 0 0
MY PALM OIL JUN5 0 +0.00 0 0 0
CHINA PALM OLEIN SEP5 4660 -2.00 4660 4660 73414
CHINA SOYOIL SEP5 5372 -14.00 5372 5372 73934
CBOT SOY OIL MAY5 31.26 -2.80 30.93 31.29 830
INDIA PALM OIL APR5 435.60 -2.80 434.30 437.50 425
INDIA SOYOIL APR5 590.20 +0.20 588.30 591.70 8060
NYMEX CRUDE MAY5 50.13 +0.99 49.47 50.35 7414
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
Source : The Star
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