MARKET DEVELOPMENT
Vegoils: Market Factors to Watch Dec 9 Tuesday
Vegoils: Market Factors to Watch Dec 9 Tuesday
09/12/2014 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Tuesday.
FUNDAMENTALS
* Malaysian palm oil futures ended lower on Monday after crude markets dived to five-year lows, forcing the tropical oil to give up earlier gains which had stemmed from the ringgit plunging to its weakest since Sept. 2009.
* Concerns about tight U.S. soy supplies drove soybean futures to their highest level in more than a week on Monday, while corn futures retreated for the first time in four sessions.
* Oil dived 4 percent to new five-year lows on Monday, as Wall Street expectations of a deeper price slump next year and a Kuwaiti prediction for $65 crude set off one of the biggest declines this year.
MARKET NEWS
* U.S. and European stocks fell on Monday after weak Chinese and Japanese data stoked worries about slowing global economic growth, while oil prices sank to five-year lows on expectations of oversupply into 2015.
RELATED
> EU rapeseed crop to shrink by 10 pct in 2015 -Strategie Grains
> China soy imports rise in Nov on seasonal demand -customs
> China soy buyers to sign purchase agreements in Chicago next week
> Deforestation cuts into climate change goals - TRFN
> Rain and sun boost Ivorian cocoa crop as Harmattan nears
> Russia's wheat prices up on export risks
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 0028 GMT
Contract Month Last Change Low High Volume
MY PALM OIL DEC4 0 +0.00 0 0 0
MY PALM OIL JAN5 2288 +1.00 2287 2289 6
MY PALM OIL FEB5 2281 +1.00 2280 2283 90
CHINA PALM OLEIN MAY5 5358 +8.00 5324 5372 430598
CHINA SOYOIL MAY5 5962 -20.00 5942 5980 132768
CBOT SOY OIL JAN5 34.17 +2.30 34.11 34.31 2318
INDIA PALM OIL DEC4 455.00 +2.30 451.70 456.90 451
INDIA SOYOIL DEC4 580.15 +7.40 572.80 584.50 23790
NYMEX CRUDE JAN5 62.86 -0.19 80.85 81.05 3712
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 ended lower on Monday after crude markets dived to five-year lows, forcing the tropical oil to give up earlier gains which had stemmed from the ringgit plunging to its weakest since Sept. 2009.
* Concerns about tight U.S. soy supplies drove soybean futures to their highest level in more than a week on Monday, while corn futures retreated for the first time in four sessions.
* Oil dived 4 percent to new five-year lows on Monday, as Wall Street expectations of a deeper price slump next year and a Kuwaiti prediction for $65 crude set off one of the biggest declines this year.
MARKET NEWS
* U.S. and European stocks fell on Monday after weak Chinese and Japanese data stoked worries about slowing global economic growth, while oil prices sank to five-year lows on expectations of oversupply into 2015.
RELATED
> EU rapeseed crop to shrink by 10 pct in 2015 -Strategie Grains
> China soy imports rise in Nov on seasonal demand -customs
> China soy buyers to sign purchase agreements in Chicago next week
> Deforestation cuts into climate change goals - TRFN
> Rain and sun boost Ivorian cocoa crop as Harmattan nears
> Russia's wheat prices up on export risks
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 0028 GMT
Contract Month Last Change Low High Volume
MY PALM OIL DEC4 0 +0.00 0 0 0
MY PALM OIL JAN5 2288 +1.00 2287 2289 6
MY PALM OIL FEB5 2281 +1.00 2280 2283 90
CHINA PALM OLEIN MAY5 5358 +8.00 5324 5372 430598
CHINA SOYOIL MAY5 5962 -20.00 5942 5980 132768
CBOT SOY OIL JAN5 34.17 +2.30 34.11 34.31 2318
INDIA PALM OIL DEC4 455.00 +2.30 451.70 456.90 451
INDIA SOYOIL DEC4 580.15 +7.40 572.80 584.50 23790
NYMEX CRUDE JAN5 62.86 -0.19 80.85 81.05 3712
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