MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Jan 8
VEGOILS-Market Factors to Watch Jan 8
08/01/2015 (Reuters) - (Refiles to append table)The following factors are likely to influence Malaysian palm oil futures andother vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures climbed to their highest in over two months onWednesday as the ringgit continued its tumble against the U.S. dollar, withprices also buoyed by fears that a fresh wave of monsoon flooding would squeezesupplies.
* U.S. corn futures fell 2.2 percent on Wednesday, dropping below the key $4 abushel level on pressure from an industry report that showed demand from theethanol sector was waning.
* Oil closed up on Wednesday for the first time in five days as traders tookstock of the market's rout after crude prices lost nearly 10 percent over twodays and benchmark Brent fell to below $50 a barrel.
MARKET NEWS
* U.S. and European stock prices rose on Wednesday on hopes the European CentralBank would embark on more stimulus soon to avert deflation in the euro zone,while oil prices showed no sign of rebounding from their lowest levels since2009.
RELATED
> India's soymeal sales seen higher in January-traders
> CBOT ethanol falls to 4-1/2 year low on U.S. supply fears
> As prices fall at the pump, some U.S. lawmakers eye gas tax hike
> Monsanto profit falls, but less sharply than Wall St expected
> U.S. crude oil exports in November hit record high -U.S. Census data
> Start-up U.S. crop company snags pharmaceutical executive as CEO
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillanceto 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 onMalaysia's end-December palm oil stocks, exports and production on Jan 12.
Palm, soy and crude oil prices at 0141 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 5070 +38.00 5038 5074 247892
CHINA SOYOIL MAY5 5764 +64.00 5712 5764 225270
CBOT SOY OIL MAR5 33.38 +5.20 33.15 33.38 505
INDIA PALM OIL JAN5 469.00 +5.20 462.70 469.70 1566
NYMEX CRUDE FEB5 49.33 +0.68 48.53 49.45 5495
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 climbed to their highest in over two months onWednesday as the ringgit continued its tumble against the U.S. dollar, withprices also buoyed by fears that a fresh wave of monsoon flooding would squeezesupplies.
* U.S. corn futures fell 2.2 percent on Wednesday, dropping below the key $4 abushel level on pressure from an industry report that showed demand from theethanol sector was waning.
* Oil closed up on Wednesday for the first time in five days as traders tookstock of the market's rout after crude prices lost nearly 10 percent over twodays and benchmark Brent fell to below $50 a barrel.
MARKET NEWS
* U.S. and European stock prices rose on Wednesday on hopes the European CentralBank would embark on more stimulus soon to avert deflation in the euro zone,while oil prices showed no sign of rebounding from their lowest levels since2009.
RELATED
> India's soymeal sales seen higher in January-traders
> CBOT ethanol falls to 4-1/2 year low on U.S. supply fears
> As prices fall at the pump, some U.S. lawmakers eye gas tax hike
> Monsanto profit falls, but less sharply than Wall St expected
> U.S. crude oil exports in November hit record high -U.S. Census data
> Start-up U.S. crop company snags pharmaceutical executive as CEO
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillanceto 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 onMalaysia's end-December palm oil stocks, exports and production on Jan 12.
Palm, soy and crude oil prices at 0141 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 5070 +38.00 5038 5074 247892
CHINA SOYOIL MAY5 5764 +64.00 5712 5764 225270
CBOT SOY OIL MAR5 33.38 +5.20 33.15 33.38 505
INDIA PALM OIL JAN5 469.00 +5.20 462.70 469.70 1566
NYMEX CRUDE FEB5 49.33 +0.68 48.53 49.45 5495
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