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)
