May 8, 2019 / 3:17 AM / 2 months ago

VEGOILS-Palm edges up to 4-day top in early trade

    KUALA LUMPUR, May 8 (Reuters) - Malaysian palm oil futures
was in line for a second day of gain on Wednesday, climbing to
its highest level in four days in early trade.     
    The benchmark palm oil contract for July delivery
on the Bursa Malaysia Derivatives Exchange was last up 0.5
percent at 2,051 ringgit ($494.81) a tonne. 
FUNDAMENTALS
* Malaysian palm oil futures jumped by nearly 3 percent on
Tuesday, recovering from a more than five-month low in the
previous trading session, tracking gains in related edible oils.

* Chicago soybean futures rose for a second session on
Wednesday, with focus on whether the latest round of talks
between Washington and Beijing this week will be able to stop an
escalation in a festering trade dispute between the two.
* Oil prices stabilised on Wednesday as markets remained
relatively tight amid U.S. sanctions on crude exporters Iran and
Venezuela.
MARKET NEWS
* Asian equities tracked Wall Street's slide on Wednesday, while
investors switched to safe-haven government bonds, driven by
fears that global growth will suffer as a potential trade deal
between the United States and China appeared to be unravelling.

* Growing fears about the impact of a worsening U.S.-Sino trade
conflict on global growth kept the safe-haven Japanese yen near
recent highs.
* U.S. stocks slid on Tuesday as escalating trade tensions
between the United States and China triggered global growth
fears and drove investors away from riskier assets.
For more vegetable oil-related stories, please click 
    
 DATA/EVENTS (GMT)

 0600  Germany   Industrial Output MM   March
 N/A   China     Exports YY             April
 N/A   China     Imports YY             April
 N/A   China     Trade Balance USD      April      
                  
    Palm, soy and crude oil prices at 0253 GMT
 Contract          Month   Last   Change     Low   High  Volume
 MY PALM OIL       MAY9       0    +0.00       0      0       0
 MY PALM OIL       JUN9    2026   +12.00    2009   2030     315
 MY PALM OIL       JUL9    2051   +11.00    2032   2058    3176
 CHINA PALM OLEIN  MAY9    4176   -10.00    4174   4228     274
 CHINA SOYOIL      MAY9    5400  +164.00    5238   5400     206
 CBOT SOY OIL      MAY9   26.81    +0.00       0      0     350
 INDIA PALM OIL    MAY9    0.00    +0.00    0.00      0       0
 INDIA SOYOIL      MAY9   736.2    +4.95  732.55  737.9    9000
 NYMEX CRUDE       JUN9   61.91    +0.51   61.43  61.95   28036
  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 = 4.1450 ringgit)
($1 = 69.5860 Indian rupees)
($1 = 6.7673 Chinese yuan)

 (Reporting by Emily Chow; editing by Uttaresh.V)
  
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