KUALA LUMPUR, May 16 (Reuters) - The following factors are likely to
influence Malaysian palm oil futures and other vegetable oil markets on
Thursday.
FUNDAMENTALS
* Malaysian palm oil futures fell for a third straight day on Wednesday, as weak
exports and a firm ringgit currency stirred doubts about the strength of demand
for the edible oil.
* Wheat futures on the Chicago Board of Trade fell 2.4 percent to a two-week low
on Wednesday in reaction to technical selling, a stronger U.S. dollar and
lackluster exports of U.S. grain, traders said.
* Brent crude oil prices rose by more than $1 on Wednesday, reversing early
losses to settle above $103 a barrel and increasing its premium over U.S. crude
to the largest in 13 sessions.
MARKET NEWS
* U.S. stocks scaled record highs on Wednesday as weak data reinforced
expectations that stimulative central bank policies would continue, while
evidence that Europe was stuck in recession pushed the euro to a six-week low
against the dollar.
* Brent crude oil closed up for the first time in four sessions on Wednesday,
spurred by a rally in U.S. stocks, but copper and gold extended their losses as
the dollar's strength continued to weigh on various commodities priced in the
currency.
RELATED NEWS
> Malaysia's May 1-15 palm oil exports down 3 pct -SGS
> Malaysia's May 1-15 palm oil exports down 7.6 pct -ITS
> Malaysia sets June crude palm oil export tax at 4.5 percent
> China 2013/14 soy imports to hit record, rise 11.9 pct
-think-tank
> U.S. soybean crush pace slows in April -NOPA
> Argentina launches WTO challenge to EU biodiesel rules
> EXCLUSIVE-Hungarian ethanol firm says it alerted EU over Platts
> Wheat falls 2 pct on firm dollar, sluggish exports
> South American corn bolsters drought-ravaged U.S. stocks
DATA/EVENTS
> Cargo surveyors to release Malaysia's May 1-20 exports data on Monday.
Key commodity markets at 0007 GMT
Contract Month Last Change Low High Volume
RINGGIT/USD 3.01 +0.01 3.008 3.0105
CHINA PALM OLEIN SEP3 0 +0.00 0 0 0
CHINA SOYOIL SEP3 0 +0.00 0 0 0
CBOT SOYOIL JUL3 49.34 -0.01 49.33 49.38 229
NYMEX CRUDE JUN3 94.29 -0.01 94.10 94.37 1807
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)
