MARKET DEVELOPMENT
Vegoils: Market Factors to Watch on Wednesday Jan 21
Vegoils: Market Factors to Watch on Wednesday Jan 21
21/01/2015 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Wednesday Jan 21.
FUNDAMENTALS
* Malaysian palm futures slipped to a two-week low on Tuesday as lacklustre demand and a grim outlook on global commodity markets piled pressure, but prices
pulled up in late trade as they clung onto support from the ringgit that slumped to near 6-year lows.
* Chicago Board of Trade soybean futures dropped to their lowest in nearly three months on Tuesday as export demand for U.S. supplies weakened ahead of what are
expected to be record harvests in Brazil and Argentina, traders said.
* Oil fell as much as 5 percent on Tuesday after the International Monetary Fund cut its 2015 global economic forecast and key producer Iran hinted prices could drop to $25 a barrel without supportive OPEC action.
MARKET NEWS
* Equities rose worldwide on Tuesday, with Wall Street reversing early losses and the dollar rising 1 percent against the Japanese yen, as diminishing global growth prospects bolstered hopes for central bank stimulus.
RELATED
> Malaysia's Jan 1-20 palm oil exports fell 21.8 pct -SGS
> Malaysia's Jan 1-20 palm exports fall 22.9 pct m/m -ITS
> SPECIAL REPORT-For Islamic State, wheat sows seeds of discontent
> Thailand offers 1 mln T rice from huge stockpile
> CFTC fines Olam $3 million for cocoa trading violations
> Euronext looks at other commodity markets after dairy revamp
> Brazil fuel tax resumption positive for cane industry -Unica
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's Jan. 1-25 palm oil exports on Jan. 26.
Palm, soy and crude oil prices at 0027 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 4884 -2.00 4876 4910 112194
CHINA SOYOIL MAY5 5610 +24.00 5582 5624 169438
CBOT SOY OIL MAR5 32.96 -5.90 0.00 0.00 0
INDIA PALM OIL JAN5 451.10 -5.90 451.10 456.80 697
INDIA SOYOIL FEB5 641.70 -5.45 641.40 648.80 35960
NYMEX CRUDE MAR5 46.86 +0.39 46.61 46.88 1485
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 futures slipped to a two-week low on Tuesday as lacklustre demand and a grim outlook on global commodity markets piled pressure, but prices
pulled up in late trade as they clung onto support from the ringgit that slumped to near 6-year lows.
* Chicago Board of Trade soybean futures dropped to their lowest in nearly three months on Tuesday as export demand for U.S. supplies weakened ahead of what are
expected to be record harvests in Brazil and Argentina, traders said.
* Oil fell as much as 5 percent on Tuesday after the International Monetary Fund cut its 2015 global economic forecast and key producer Iran hinted prices could drop to $25 a barrel without supportive OPEC action.
MARKET NEWS
* Equities rose worldwide on Tuesday, with Wall Street reversing early losses and the dollar rising 1 percent against the Japanese yen, as diminishing global growth prospects bolstered hopes for central bank stimulus.
RELATED
> Malaysia's Jan 1-20 palm oil exports fell 21.8 pct -SGS
> Malaysia's Jan 1-20 palm exports fall 22.9 pct m/m -ITS
> SPECIAL REPORT-For Islamic State, wheat sows seeds of discontent
> Thailand offers 1 mln T rice from huge stockpile
> CFTC fines Olam $3 million for cocoa trading violations
> Euronext looks at other commodity markets after dairy revamp
> Brazil fuel tax resumption positive for cane industry -Unica
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's Jan. 1-25 palm oil exports on Jan. 26.
Palm, soy and crude oil prices at 0027 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 4884 -2.00 4876 4910 112194
CHINA SOYOIL MAY5 5610 +24.00 5582 5624 169438
CBOT SOY OIL MAR5 32.96 -5.90 0.00 0.00 0
INDIA PALM OIL JAN5 451.10 -5.90 451.10 456.80 697
INDIA SOYOIL FEB5 641.70 -5.45 641.40 648.80 35960
NYMEX CRUDE MAR5 46.86 +0.39 46.61 46.88 1485
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