MARKET DEVELOPMENT
Vegoils: Market Factors to Watch Dec 2 Tuesday
Vegoils: Market Factors to Watch Dec 2 Tuesday
02/12/2014 (The Star) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Tuesday.
FUNDAMENTALS
* Malaysian palm oil futures recorded its biggest daily decline since July 2013 on Monday as crude oil hit five-year lows and export data showed weakening global demand for palm oil.
* U.S. wheat futures surged 5.2 percent to nearly a six-month high on Monday on concerns about a slowdown in exports from Russia and other countries in the Black Sea region.
* Crude oil markets jumped as much as 5 percent on Monday, rebounding from five-year lows with their biggest daily gain since 2012, on fears that the high U.S. shale output blamed for the global oil glut may be shrinking.
MARKET NEWS
* World stock markets fell on Monday as slowing factory activity in China and Europe added to worries about weaker global growth and Apple shares dropped, while the yen hit a seven-year low against the dollar before recovering.
RELATED
> Australia cuts wheat output forecast on worries over drought
> Deadly pig virus jumps to Hawaii, animal feed tested
> Organigram announces three additional grow rooms pass inspection - increase production
> Brevan Howard to shut $600 mln commodities fund - source
> Malaysia's November palm oil exports fell 10.5 pct -SGS
> Malaysia's Nov palm oil exports fall 9.8 pct -ITS
> Malaysian palm futures falls most since Oct 2012 on low exports
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's Dec. 1-10 palm oil exports on Dec. 10.
> Industry regulator the Malaysian Palm Oil Board (MPOB) to release data on Malaysia's end-November palm oil stocks, exports and production on Dec. 10.
Palm, soy and crude oil prices at 0046 GMT
Contract Month Last Change Low High Volume
MY PALM OIL DEC4 0 +0.00 0 0 0
MY PALM OIL JAN5 0 +0.00 0 0 0
MY PALM OIL FEB5 0 +0.00 0 0 0
CHINA PALM OLEIN MAY5 5144 -4.00 5030 5160 875440
CHINA SOYOIL MAY5 0 +0.00 0 0 0
CBOT SOY OIL JAN5 32.36 -1.20 0.00 0.00 0
INDIA PALM OIL DEC4 438.00 -1.20 427.00 439.00 1524
INDIA SOYOIL DEC4 576.00 -0.80 569.50 577.70 33285
NYMEX CRUDE JAN5 68.50 -0.50 68.26 69.32 5774
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
FUNDAMENTALS
* Malaysian palm oil futures recorded its biggest daily decline since July 2013 on Monday as crude oil hit five-year lows and export data showed weakening global demand for palm oil.
* U.S. wheat futures surged 5.2 percent to nearly a six-month high on Monday on concerns about a slowdown in exports from Russia and other countries in the Black Sea region.
* Crude oil markets jumped as much as 5 percent on Monday, rebounding from five-year lows with their biggest daily gain since 2012, on fears that the high U.S. shale output blamed for the global oil glut may be shrinking.
MARKET NEWS
* World stock markets fell on Monday as slowing factory activity in China and Europe added to worries about weaker global growth and Apple shares dropped, while the yen hit a seven-year low against the dollar before recovering.
RELATED
> Australia cuts wheat output forecast on worries over drought
> Deadly pig virus jumps to Hawaii, animal feed tested
> Organigram announces three additional grow rooms pass inspection - increase production
> Brevan Howard to shut $600 mln commodities fund - source
> Malaysia's November palm oil exports fell 10.5 pct -SGS
> Malaysia's Nov palm oil exports fall 9.8 pct -ITS
> Malaysian palm futures falls most since Oct 2012 on low exports
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's Dec. 1-10 palm oil exports on Dec. 10.
> Industry regulator the Malaysian Palm Oil Board (MPOB) to release data on Malaysia's end-November palm oil stocks, exports and production on Dec. 10.
Palm, soy and crude oil prices at 0046 GMT
Contract Month Last Change Low High Volume
MY PALM OIL DEC4 0 +0.00 0 0 0
MY PALM OIL JAN5 0 +0.00 0 0 0
MY PALM OIL FEB5 0 +0.00 0 0 0
CHINA PALM OLEIN MAY5 5144 -4.00 5030 5160 875440
CHINA SOYOIL MAY5 0 +0.00 0 0 0
CBOT SOY OIL JAN5 32.36 -1.20 0.00 0.00 0
INDIA PALM OIL DEC4 438.00 -1.20 427.00 439.00 1524
INDIA SOYOIL DEC4 576.00 -0.80 569.50 577.70 33285
NYMEX CRUDE JAN5 68.50 -0.50 68.26 69.32 5774
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