MARKET DEVELOPMENT
Vegoils: Market Factors to Watch on Thursday Feb 5
Vegoils: Market Factors to Watch on Thursday Feb 5
05/02/2015 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Thursday, Feb 5.
FUNDAMENTALS
* Malaysian palm oil futures climbed to their highest in a week on Wednesday, tracking cues from crude markets and as investors pinned hopes that Indonesia's plan to raise biodiesel subsidies will boost its consumption.
* U.S. soybean futures fell 1.5 percent on Wednesday, retreating from a three-week high notched Tuesday as the dollar rose, traders said.
* Oil prices crashed on Wednesday, with U.S. crude losing 9 percent in one of its biggest daily routs ever, as record high oil inventories in the United States cut short a four-day rally.
MARKET NEWS
* The euro slumped late on Wednesday and safe-haven U.S. government bonds rallied after the European Central Bank abruptly canceled its acceptance of Greek bonds in return for funding, putting more pressure on Greece to reach new reforms.
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> Could 2015 be a breakthrough year for community land rights? - TRFN
> Canadian wheat, canola stocks dwindle, but still ample
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's Feb 1-10 palm oil exports on Feb. 10.
> Industry regulator the Malaysian Palm Oil Board (MPOB) to release data on Malaysia's end-January palm oil stocks, exports and production on Feb 10.
Palm, soy and crude oil prices at 0014 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 4742 -24.00 4738 4780 117754
CHINA SOYOIL MAY5 5418 -52.00 5412 5456 130026
CBOT SOY OIL MAR5 30.59 -5.40 0.00 0.00 0
INDIA PALM OIL FEB5 441.00 -5.40 438.80 446.80 1714
INDIA SOYOIL FEB5 623.60 -10.15 622.90 635.00 31915
NYMEX CRUDE MAR5 48.85 +0.40 48.57 48.94 1829
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 a week on Wednesday, tracking cues from crude markets and as investors pinned hopes that Indonesia's plan to raise biodiesel subsidies will boost its consumption.
* U.S. soybean futures fell 1.5 percent on Wednesday, retreating from a three-week high notched Tuesday as the dollar rose, traders said.
* Oil prices crashed on Wednesday, with U.S. crude losing 9 percent in one of its biggest daily routs ever, as record high oil inventories in the United States cut short a four-day rally.
MARKET NEWS
* The euro slumped late on Wednesday and safe-haven U.S. government bonds rallied after the European Central Bank abruptly canceled its acceptance of Greek bonds in return for funding, putting more pressure on Greece to reach new reforms.
RELATED
> Scoular hit with $17.2 mln fraud- newspaper
> Starbucks' U.S. shops turn to coconuts as non-dairy demand soars
> Could 2015 be a breakthrough year for community land rights? - TRFN
> Canadian wheat, canola stocks dwindle, but still ample
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's Feb 1-10 palm oil exports on Feb. 10.
> Industry regulator the Malaysian Palm Oil Board (MPOB) to release data on Malaysia's end-January palm oil stocks, exports and production on Feb 10.
Palm, soy and crude oil prices at 0014 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 4742 -24.00 4738 4780 117754
CHINA SOYOIL MAY5 5418 -52.00 5412 5456 130026
CBOT SOY OIL MAR5 30.59 -5.40 0.00 0.00 0
INDIA PALM OIL FEB5 441.00 -5.40 438.80 446.80 1714
INDIA SOYOIL FEB5 623.60 -10.15 622.90 635.00 31915
NYMEX CRUDE MAR5 48.85 +0.40 48.57 48.94 1829
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