MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Jan 19
VEGOILS-Market Factors to Watch Jan 19
19/01/2015 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures fell to their lowest in over a week on Friday as volatile crude oil prices and lacklustre export demand dampened buying interest in the tropical oil, dragging the contract to its biggest weekly drop in seven.
* U.S. corn rose 1.8 percent on Friday for its biggest daily gain in about two weeks, rebounding from a nearly two-month low on support from short covering and increasing export demand.
* U.S. crude oil prices staunched seven weeks of losses rising 33 cents on the week as it rallied just before settlement because of short covering ahead of the contract expiration Tuesday.
MARKET NEWS
* Asian share markets were looking to edge higher on Monday, though anxious investors were wary of being disappointed yet again by economic news from China and policy stimulus in the euro zone.
RELATED
> China to sell imported wheat, rapeseed oil from state reserves next week
> Indonesia Dec palm oil output seen 6 pct lower -Reuters survey
> INTERVIEW-Argentina's 'Soy King' abdicates in favor of biotech
> As U.S. soybean export season winds down, demand questions remain
> Speculators raise bullish positions in ICE arabica coffee, cocoa
> Harmattan winds threaten West Africa's cocoa light-crop output
DATA/EVENTS
> Malaysian Palm Oil Board's economic review and 2015 outlook on the palm oil industry, held in Kuala Lumpur on Jan. 19.
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's Jan. 1-20 palm oil exports on Jan. 20.
Palm, soy and crude oil prices at 0020 GMT
Contract Month Last Change Low High Volume
MY PALM OIL FEB5 0 +0.00 0 0 0
MY PALM OIL MAR5 0 +0.00 0 0 0
MY PALM OIL APR5 0 +0.00 0 0 0
CHINA PALM OLEIN MAY5 4946 -4.00 4922 4956 116264
CHINA SOYOIL MAY5 5630 +6.00 5598 5638 123448
CBOT SOY OIL MAR5 33.39 -1.60 0.00 0.00 0
INDIA PALM OIL JAN5 458.90 -1.60 457.40 461.40 432
INDIA SOYOIL JAN5 675.30 +2.00 672.00 676.60 5515
NYMEX CRUDE FEB5 48.69 +0.00 48.37 48.69 193
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 fell to their lowest in over a week on Friday as volatile crude oil prices and lacklustre export demand dampened buying interest in the tropical oil, dragging the contract to its biggest weekly drop in seven.
* U.S. corn rose 1.8 percent on Friday for its biggest daily gain in about two weeks, rebounding from a nearly two-month low on support from short covering and increasing export demand.
* U.S. crude oil prices staunched seven weeks of losses rising 33 cents on the week as it rallied just before settlement because of short covering ahead of the contract expiration Tuesday.
MARKET NEWS
* Asian share markets were looking to edge higher on Monday, though anxious investors were wary of being disappointed yet again by economic news from China and policy stimulus in the euro zone.
RELATED
> China to sell imported wheat, rapeseed oil from state reserves next week
> Indonesia Dec palm oil output seen 6 pct lower -Reuters survey
> INTERVIEW-Argentina's 'Soy King' abdicates in favor of biotech
> As U.S. soybean export season winds down, demand questions remain
> Speculators raise bullish positions in ICE arabica coffee, cocoa
> Harmattan winds threaten West Africa's cocoa light-crop output
DATA/EVENTS
> Malaysian Palm Oil Board's economic review and 2015 outlook on the palm oil industry, held in Kuala Lumpur on Jan. 19.
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's Jan. 1-20 palm oil exports on Jan. 20.
Palm, soy and crude oil prices at 0020 GMT
Contract Month Last Change Low High Volume
MY PALM OIL FEB5 0 +0.00 0 0 0
MY PALM OIL MAR5 0 +0.00 0 0 0
MY PALM OIL APR5 0 +0.00 0 0 0
CHINA PALM OLEIN MAY5 4946 -4.00 4922 4956 116264
CHINA SOYOIL MAY5 5630 +6.00 5598 5638 123448
CBOT SOY OIL MAR5 33.39 -1.60 0.00 0.00 0
INDIA PALM OIL JAN5 458.90 -1.60 457.40 461.40 432
INDIA SOYOIL JAN5 675.30 +2.00 672.00 676.60 5515
NYMEX CRUDE FEB5 48.69 +0.00 48.37 48.69 193
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