MARKET DEVELOPMENT
Vegoils: Market Factors to Watch Jan 6 Tuesday
Vegoils: Market Factors to Watch Jan 6 Tuesday
06/01/2015 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Tuesday Jan 6.
FUNDAMENTALS
* Malaysian palm oil futures fell in choppy trade on Monday, dragged lower as oil prices slid to fresh 5-1/2-year lows, although losses in the ringgit and concerns over floods curbing palm supply propped up the market.
* U.S. soybean, corn and wheat futures rallied on Monday, rebounding from sharp losses on a round of bargain buying, traders said.
* The selloff in global oil markets showed little signs of slowing in the new year, with prices down as much as 6 percent on Monday, the lowest since spring 2009, as fears deepened a supply glut that has vexed the market for six months would continue.
MARKET NEWS
* Equity markets worldwide tumbled on Monday, led by commodity-linked shares as oil prices fell to 5-1/2-year lows and investors fled to the safety of government bonds.
RELATED
> Researchers identify new strain of deadly pig virus in U.S.
> Brazil's ag minister says better food safety to open new markets
> Brazil posts first trade deficit in 14 years
> Brazil crop areas to see more rain after wet weekend
> Arctic air surge puts U.S. SRW wheat crop at risk of winterkill
> China renews safety certificates for local GMO rice
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's Jan. 1-10 palm oil exports on Jan 12.
> Industry regulator the Malaysian Palm Oil Board (MPOB) to release data on Malaysia's end-December palm oil stocks, exports and production on Jan 12.
FUNDAMENTALS
* Malaysian palm oil futures fell in choppy trade on Monday, dragged lower as oil prices slid to fresh 5-1/2-year lows, although losses in the ringgit and concerns over floods curbing palm supply propped up the market.
* U.S. soybean, corn and wheat futures rallied on Monday, rebounding from sharp losses on a round of bargain buying, traders said.
* The selloff in global oil markets showed little signs of slowing in the new year, with prices down as much as 6 percent on Monday, the lowest since spring 2009, as fears deepened a supply glut that has vexed the market for six months would continue.
MARKET NEWS
* Equity markets worldwide tumbled on Monday, led by commodity-linked shares as oil prices fell to 5-1/2-year lows and investors fled to the safety of government bonds.
RELATED
> Researchers identify new strain of deadly pig virus in U.S.
> Brazil's ag minister says better food safety to open new markets
> Brazil posts first trade deficit in 14 years
> Brazil crop areas to see more rain after wet weekend
> Arctic air surge puts U.S. SRW wheat crop at risk of winterkill
> China renews safety certificates for local GMO rice
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's Jan. 1-10 palm oil exports on Jan 12.
> Industry regulator the Malaysian Palm Oil Board (MPOB) to release data on Malaysia's end-December palm oil stocks, exports and production on Jan 12.