MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Dec 23
VEGOILS-Market Factors to Watch Dec 23
23/12/2014 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures rose for a fourth session on Monday to a week's high as better-than-expected export data signalled firm appetite for the tropical oil, with prices underpinned by gains in crude oil and Asian equity markets.
* U.S. corn futures on Monday touched a fresh five-month high on firm export demand, while wheat slumped on profit-taking and slow sales to foreign buyers.
* Oil prices resumed their downward march on Monday, doubling back on the biggest one-day gain in over two years, after Saudi Arabia's powerful oil minister said OPEC would not cut production at any price.
MARKET NEWS
* Asian markets should be well underpinned on Tuesday after Wall Street closed at historic highs while oil prices suffered a vicious setback after Saudi Arabia quashed all thought of cutting supply.
RELATED
> Malaysia's Dec 1-20 palm oil exports rise 8.8 pct -ITS
> Hong Kong halts some U.S. poultry imports due to bird flu in U.S.
> Argentina's western farm belt can expect late December rains
> UPDATE 2-China approves imports of GMO Syngenta corn, Pioneer soy
> UPDATE 1-French regulator seeks views on grains futures position limits
> UPDATE 1-Pakistan buys about 50,000 T soybeans from United States -traders
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's Dec. 1-25 palm oil exports on Dec. 26.
Palm, soy and crude oil prices at 0016 GMT
Contract Month Last Change Low High Volume
MY PALM OIL JAN5 0 +0.00 0 0 0
MY PALM OIL FEB5 0 +0.00 0 0 0
MY PALM OIL MAR5 0 +0.00 0 0 0
CHINA PALM OLEIN MAY5 4932 -2.00 4916 4950 184200
CHINA SOYOIL MAY5 0 +0.00 0 0 0
CBOT SOY OIL MAR5 32.17 +1.40 0.00 0.00 0
INDIA PALM OIL DEC4 419.00 +1.40 416.20 420.50 1663
INDIA SOYOIL JAN5 602.00 +6.00 598.00 603.50 38225
NYMEX CRUDE FEB5 55.49 +0.23 55.31 55.69 1371
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 rose for a fourth session on Monday to a week's high as better-than-expected export data signalled firm appetite for the tropical oil, with prices underpinned by gains in crude oil and Asian equity markets.
* U.S. corn futures on Monday touched a fresh five-month high on firm export demand, while wheat slumped on profit-taking and slow sales to foreign buyers.
* Oil prices resumed their downward march on Monday, doubling back on the biggest one-day gain in over two years, after Saudi Arabia's powerful oil minister said OPEC would not cut production at any price.
MARKET NEWS
* Asian markets should be well underpinned on Tuesday after Wall Street closed at historic highs while oil prices suffered a vicious setback after Saudi Arabia quashed all thought of cutting supply.
RELATED
> Malaysia's Dec 1-20 palm oil exports rise 8.8 pct -ITS
> Hong Kong halts some U.S. poultry imports due to bird flu in U.S.
> Argentina's western farm belt can expect late December rains
> UPDATE 2-China approves imports of GMO Syngenta corn, Pioneer soy
> UPDATE 1-French regulator seeks views on grains futures position limits
> UPDATE 1-Pakistan buys about 50,000 T soybeans from United States -traders
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's Dec. 1-25 palm oil exports on Dec. 26.
Palm, soy and crude oil prices at 0016 GMT
Contract Month Last Change Low High Volume
MY PALM OIL JAN5 0 +0.00 0 0 0
MY PALM OIL FEB5 0 +0.00 0 0 0
MY PALM OIL MAR5 0 +0.00 0 0 0
CHINA PALM OLEIN MAY5 4932 -2.00 4916 4950 184200
CHINA SOYOIL MAY5 0 +0.00 0 0 0
CBOT SOY OIL MAR5 32.17 +1.40 0.00 0.00 0
INDIA PALM OIL DEC4 419.00 +1.40 416.20 420.50 1663
INDIA SOYOIL JAN5 602.00 +6.00 598.00 603.50 38225
NYMEX CRUDE FEB5 55.49 +0.23 55.31 55.69 1371
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