May 15, 2019 / 3:27 AM / 3 months ago

VEGOILS-Palm scales 1-week high, set for third day of gains

    KUALA LUMPUR, May 15 (Reuters) - Malaysian palm oil futures
climbed to a one-week top in early trade on Wednesday, in line
to chart a third consecutive day of gains.
    Benchmark palm oil contract for July delivery on
the Bursa Malaysia Derivatives Exchange was last up 0.4% at
2,022 ringgit ($484.72) a tonne. 
FUNDAMENTALS
* Malaysian palm oil futures rose more than 1% for a second day
of gains on Tuesday, supported by a weaker ringgit MYR= and
expectated higher demand in May.
* U.S. corn futures edged higher for a third straight session on
Wednesday as concerns that planting delays in North America
could force some farmers to switch to soybeans pushed prices
towards a 12-day high.
* Oil eased on Wednesday after closely watched data showed a
surprise rise in U.S. crude stockpiles, but prices were
supported by mounting tensions in the Middle East.
MARKET NEWS
* Asian stocks struggled near a 3-1/2-month low on Wednesday on
lingering concerns over the economic impact of a U.S.-China
trade war, although an overnight bounce on Wall Street helped
limit the losses.
* The dollar was firmer in early Asian trade on Wednesday while
the Australian dollar brushed a more than four-month low as
traders eyed Chinese and European data for clues on whether the
worst is over for the global economy.
* U.S. stocks on Tuesday reclaimed some of the ground lost in
the prior day's steep sell-off, with tariff-sensitive technology
stocks leading the S&P 500 and the Nasdaq higher as investors
were heartened by a tonal shift in U.S.-China trade rhetoric.

For more vegetable oil-related stories, please click 
    
 DATA/EVENTS (GMT)

0130   Australia   Wage Price Index QQ YY     Q1
0200   China       Urban Investment (ytd) YY  April
0200   China       Industrial Output YY       April
0200   China       Retail Sales YY            April
0200   Indonesia   Trade Balance (Bln of $)   April
0600   Germany     GDP Flash QQ SA            Q1
0600   Germany     GDP Flash YY NSA           Q1
0645   France      CPI (EU Norm) Final MM YY  April
0900   EU          GDP Flash Estimate QQ YY   Q1
1000   EU          Reserve Assets Total       April
1230   US          Retail Sales MM            April
1315   US          Industrial Production MM   April
    
                      
    Palm, soy and crude oil prices at 0309 GMT  
 MY PALM OIL       MAY9       0    +0.00      0      0       0
 MY PALM OIL       JUN9    2000   +12.00   1996   2000     248
 MY PALM OIL       JUL9    2029   +15.00   2021   2030    3390
 CHINA PALM OLEIN  JUN9    4232  -128.00   4232   4234      10
 CHINA SOYOIL      JUL9    5320   -60.00   5218   5320       6
 CBOT SOY OIL      JUL9   27.01    +0.01   26.9  27.07    2289
 INDIA PALM OIL    MAY9    0.00    +0.00   0.00      0       0
 INDIA SOYOIL      MAY9   754.1    +7.00  743.4  754.1    4600
 NYMEX CRUDE       JUN9   61.42    -0.36  61.12  61.61   35900
  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
 
    * For a table on Malaysian physical palm oil prices,
including refined oil, Reuters Terminal users can double click
on or type.
    * To view freight rates from Peninsula Malaysia/Sumatra to
China, India, Pakistan and Rotterdam, please key in
and press enter, or double click between the brackets. 
    * Reuters Terminal users can see cash and futures edible oil
prices by double clicking on the codes in the brackets: To go to
the next page in the same chain, hit F12. To go back, hit F11.
    
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 --

($1 = 4.1715 ringgit)
($1 = 70.3420 Indian rupees)
($1 = 6.8738 Chinese yuan)
    

 (Reporting by Emily Chow; editing by Rashmi Aich)
  
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