KUALA LUMPUR, May 8 (Reuters) - The following factors are likely to
influence Malaysian palm oil futures and other vegetable oil markets on
Wednesday.
FUNDAMENTALS
* Malaysian palm oil futures ended higher on Tuesday, fuelled by bargain-hunting
from the previous day's nearly five-month low, although gains were capped by a
firm ringgit and key industry data due at the end of the week.
* Chicago Board of Trade corn futures turned higher on Tuesday in a recovery
bounce after their biggest plunge in five weeks on Monday as U.S. farmers
struggle to plant corn in muddy fields.
* Brent crude oil fell more than $1 on Tuesday as worries about market
fundamentals curbed an early rise that had brought the price close to $106 a
barrel on strong German data and concern about tension in the Middle East.
MARKET NEWS
* Major stock indexes in Germany and the United States hit all-time highs on
Tuesday after data bolstered expectations that Germany has returned to growth,
while Australia reminded markets that accommodative policies from central banks
have room to run.
* Oil fell on Tuesday after initially rallying on optimism about a recovery in
Europe and worry over growing Middle East tensions, while copper consolidated
from a 3-week high as commodity investors turned cautious ahead of trade data
from China.
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DATA/EVENTS
> Industry regulator the Malaysian Palm Oil Board to release the country's palm
output, stocks, exports and imports for April on Friday.
Key commodity markets at 0020 GMT
Contract Month Last Change Low High Volume
RINGGIT/USD 2.984 +0.00 2.981 2.986
CHINA PALM OLEIN SEP3 0 +0.00 0 0 0
CHINA SOYOIL SEP3 0 +0.00 0 0 0
CBOT SOYOIL JUL3 49.12 -0.02 49.10 49.25 551
NYMEX CRUDE JUN3 95.40 -0.22 95.38 95.57 1189
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)
