MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Dec 24
VEGOILS-Market Factors to Watch Dec 24
24/12/2014 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil rose for a fifth straight session on Tuesday to its highest in more than one week with prices underpinned by expectations that excessive monsoon rains would derail supplies amid strong demand.
* U.S. corn futures on Tuesday hit a new five-month high for the second consecutive session on increasing global demand, while wheat futures climbed amid uncertainty about the impact of Russian export restrictions.
* Oil rose by more than $2 a barrel on Tuesday, rallying for a second time in three days, after data showing the fastest rate of U.S. economic growth in 11 years bolstered expectations for crude demand.
MARKET NEWS
* U.S. and European shares rose on Tuesday, with the Dow industrials ending above 18,000 for the first time after an unexpectedly strong report on U.S. economic growth supported risk appetite and lifted oil prices.
RELATED
> China amending law to enforce GMO food labelling-Xinhua
> China allows imports of Agrisure Viptera GMO corn from Argentina
> Cheaper feed fuels higher than expected U.S. hog herd growth
> Argentina's western farm belt can expect late December rains
> French regulator seeks views on grains futures position limits
> China approves imports of DuPont Pioneer soybean variety -DuPont
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 0019 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 4940 +10.00 4936 4966 315432
CHINA SOYOIL MAY5 0 +0.00 0 0 0
CBOT SOY OIL MAR5 32.36 +5.30 0.00 0.00 0
INDIA PALM OIL DEC4 424.20 +5.30 419.00 424.80 871
INDIA SOYOIL JAN5 611.75 +9.55 603.00 613.90 53045
NYMEX CRUDE FEB5 56.84 -0.29 56.63 57.15 1922
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 rose for a fifth straight session on Tuesday to its highest in more than one week with prices underpinned by expectations that excessive monsoon rains would derail supplies amid strong demand.
* U.S. corn futures on Tuesday hit a new five-month high for the second consecutive session on increasing global demand, while wheat futures climbed amid uncertainty about the impact of Russian export restrictions.
* Oil rose by more than $2 a barrel on Tuesday, rallying for a second time in three days, after data showing the fastest rate of U.S. economic growth in 11 years bolstered expectations for crude demand.
MARKET NEWS
* U.S. and European shares rose on Tuesday, with the Dow industrials ending above 18,000 for the first time after an unexpectedly strong report on U.S. economic growth supported risk appetite and lifted oil prices.
RELATED
> China amending law to enforce GMO food labelling-Xinhua
> China allows imports of Agrisure Viptera GMO corn from Argentina
> Cheaper feed fuels higher than expected U.S. hog herd growth
> Argentina's western farm belt can expect late December rains
> French regulator seeks views on grains futures position limits
> China approves imports of DuPont Pioneer soybean variety -DuPont
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 0019 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 4940 +10.00 4936 4966 315432
CHINA SOYOIL MAY5 0 +0.00 0 0 0
CBOT SOY OIL MAR5 32.36 +5.30 0.00 0.00 0
INDIA PALM OIL DEC4 424.20 +5.30 419.00 424.80 871
INDIA SOYOIL JAN5 611.75 +9.55 603.00 613.90 53045
NYMEX CRUDE FEB5 56.84 -0.29 56.63 57.15 1922
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