May 16, 2019 / 2:49 AM / 4 months ago

VEGOILS-Palm extends gains to 2-week high in early trade

    KUALA LUMPUR, May 16 (Reuters) - Malaysian palm oil futures
rose to a two-week high at the start of trade on Thursday, after
seeing three previous days of consecutive gains.     
    Benchmark palm oil contract for August delivery on
the Bursa Malaysia Derivatives Exchange was last up 1% at 2,066
ringgit ($495.56) a tonne. 
FUNDAMENTALS
* Malaysian palm oil futures climbed to a one-week top in early
trade on Wednesday before paring some gains, charting a third
consecutive day of gains as it tracked an increase in U.S.
soyoil on the Chicago Board of Trade (CBOT) and a weaker ringgit
.
* U.S. corn futures jumped more than 1.5% on Thursday as
forecasts for more rain across a key growing region stoked fears
of further planting delays.
* Oil prices edged up on Thursday to extend gains into a third
straight session, as tensions in the Middle East stoked fears of
potential disruptions to supply.
MARKET NEWS
* Asian shares steadied on Thursday on news that U.S. President
Donald Trump is planning to delay tariffs on auto imports,
providing much needed relief to markets hit by a flare-up in
trade tensions and on weak U.S. and Chinese economic data.

* The euro was buoyant on Thursday as trade concerns eased on
expectations that U.S. President Donald Trump will delay
implementing tariffs on imported cars.
* U.S. stocks closed higher on Wednesday as reports that U.S.
President Donald Trump would hold off on imposing tariffs on
imported cars and parts eased growth concerns even as economic
data disappointed investors.
For more vegetable oil-related stories, please click 
    
 DATA/EVENTS (GMT)

0130  Australia  Employment               April
0130  Australia  Unemployment Rate        April
1230  US         Housing Starts number    April
1230  US         Initial Jobless Claims   weekly
 --   Indonesia  7-Day Reverse Repo       May
 --   Indonesia  Deposit Facility Rate    May
 --   Indonesia  Lending Facility Rate    May
    
                      
    Palm, soy and crude oil prices at 0240 GMT
 Contract           Month   Last  Change    Low    High   Volume
 MY PALM OIL       JUN9     2025  +21.00   2015    2025       50
 MY PALM OIL       JUL9     2052  +23.00   2025    2052     1532
 MY PALM OIL       AUG9     2066  +21.00   2043    2067     2054
 CHINA PALM OLEIN  MAY9     4152  +36.00   4140    4152       22
 CHINA SOYOIL      MAY9        0  +34.00      0       0        0
 CBOT SOY OIL      JUL9    27.37   +0.13  27.23   27.38     2072
 INDIA PALM OIL    MAY9     0.00   +0.00   0.00       0        0
 INDIA SOYOIL      MAY9    756.5   +2.85    755   760.3     6380
 NYMEX CRUDE       JUN9    62.42   +0.40  62.08   62.51    25062
  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 = 70.2187 Indian rupees)
($1 = 6.8761 Chinese yuan)
    

($1 = 4.1690 ringgit)

 (Reporting by Emily Chow; editing by Rashmi Aich)
  
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