MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Jan 28
VEGOILS-Market Factors to Watch Jan 28
28/01/2015 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures rebounded on Tuesday to snap four days of declines but remained not far off their lowest in almost six weeks as a big domestic crop, poor demand and weak competing oil prices put pressure on the edible oil.
* Chicago Board of Trade soybean futures fell 1 percent on Tuesday on technical selling and on signs of slowing export demand for U.S. supplies, traders said.
* Oil jumped as much as 3 percent on Tuesday as a weak dollar propped up commodities, but crude prices came off their highs in post-settlement trading on signs of another big U.S. supply build last week.
MARKET NEWS
* Asian stock markets followed Wall Street into the red early on Wednesday, while the euro managed a rare rally on speculation the Federal Reserve could take a dovish turn in its post-meeting statement later in the session.
RELATED
> 07:21:24 RTRS - UPDATE 3-U.S. approves Argentina proposal to qualify for biofuel credits
> 04:14:51 RTRS - Drought keeps Brazil waterway closed as soy exports start
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's January palm oil exports on Feb. 4.
Palm, soy and crude oil prices at 0023 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 4832 -8.00 4824 4850 88260
CHINA SOYOIL MAY5 5502 -8.00 5490 5520 125312
CBOT SOY OIL MAR5 31.17 -7.30 0.00 0.00 0
INDIA PALM OIL JAN5 427.30 -7.30 424.40 431.40 595
INDIA SOYOIL FEB5 622.90 +6.70 609.00 626.00 65145
NYMEX CRUDE MAR5 45.49 -0.74 45.45 45.83 2209
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 rebounded on Tuesday to snap four days of declines but remained not far off their lowest in almost six weeks as a big domestic crop, poor demand and weak competing oil prices put pressure on the edible oil.
* Chicago Board of Trade soybean futures fell 1 percent on Tuesday on technical selling and on signs of slowing export demand for U.S. supplies, traders said.
* Oil jumped as much as 3 percent on Tuesday as a weak dollar propped up commodities, but crude prices came off their highs in post-settlement trading on signs of another big U.S. supply build last week.
MARKET NEWS
* Asian stock markets followed Wall Street into the red early on Wednesday, while the euro managed a rare rally on speculation the Federal Reserve could take a dovish turn in its post-meeting statement later in the session.
RELATED
> 07:21:24 RTRS - UPDATE 3-U.S. approves Argentina proposal to qualify for biofuel credits
> 04:14:51 RTRS - Drought keeps Brazil waterway closed as soy exports start
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's January palm oil exports on Feb. 4.
Palm, soy and crude oil prices at 0023 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 4832 -8.00 4824 4850 88260
CHINA SOYOIL MAY5 5502 -8.00 5490 5520 125312
CBOT SOY OIL MAR5 31.17 -7.30 0.00 0.00 0
INDIA PALM OIL JAN5 427.30 -7.30 424.40 431.40 595
INDIA SOYOIL FEB5 622.90 +6.70 609.00 626.00 65145
NYMEX CRUDE MAR5 45.49 -0.74 45.45 45.83 2209
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