MARKET DEVELOPMENT
Vegoils: Market Factors to Watch on Tuesday Feb 10
Vegoils: Market Factors to Watch on Tuesday Feb 10
10/02/2015 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Tuesday Feb 10.
FUNDAMENTALS
* Malaysian palm oil futures fell on Monday after a 4-day winning streak, traders said, with concerns over sluggish export demand in February adding pressure.
* U.S. corn and soybean futures edged higher on Monday, lifted by investor short-covering and position-squaring ahead of the monthly U.S. Department of Agriculture supply and demand report due on Tuesday.
* Oil jumped for a third straight session on Monday as OPEC forecast greater demand for crude this year than previously thought and projected less supply from countries outside the producer group.
MARKET NEWS
* Stock indexes worldwide slipped on Monday on fears of Greece leaving the euro zone and concerns over conflict in Ukraine, while oil prices surged after an optimistic demand forecast from OPEC.
RELATED
> China to direct farm machinery subsidies to growers of key crops
> Local analysts cut Brazil soy forecast after dry January
> Ivory Coast's cocoa main crop likely to equal last year's
> Cargill says suspending deliveries at Iowa corn mill
> INSIGHT-Single-serve coffee coup saves beans, spares sink
> Australia raises 2014/15 wheat harvest after timely rains
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 0452 GMT
Contract Month Last Change Low High Volume
MY PALM OIL FEB5 2240 -24.00 2230 2254 29
MY PALM OIL MAR5 2228 -19.00 2220 2249 388
MY PALM OIL APR5 2210 -20.00 2202 2222 7986
CHINA PALM OLEIN MAY5 4846 -22.00 4844 4874 180294
CHINA SOYOIL MAY5 5514 -52.00 5508 5562 240078
CBOT SOY OIL MAR5 31.48 -3.50 31.47 31.57 2367
INDIA PALM OIL JAN5 434.90 -3.50 434.00 439.50 488
INDIA SOYOIL FEB5 616.00 -9.00 615.70 624.80 50145
NYMEX CRUDE MAR5 45.06 -0.53 44.35 45.35 25835
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 on Monday after a 4-day winning streak, traders said, with concerns over sluggish export demand in February adding pressure.
* U.S. corn and soybean futures edged higher on Monday, lifted by investor short-covering and position-squaring ahead of the monthly U.S. Department of Agriculture supply and demand report due on Tuesday.
* Oil jumped for a third straight session on Monday as OPEC forecast greater demand for crude this year than previously thought and projected less supply from countries outside the producer group.
MARKET NEWS
* Stock indexes worldwide slipped on Monday on fears of Greece leaving the euro zone and concerns over conflict in Ukraine, while oil prices surged after an optimistic demand forecast from OPEC.
RELATED
> China to direct farm machinery subsidies to growers of key crops
> Local analysts cut Brazil soy forecast after dry January
> Ivory Coast's cocoa main crop likely to equal last year's
> Cargill says suspending deliveries at Iowa corn mill
> INSIGHT-Single-serve coffee coup saves beans, spares sink
> Australia raises 2014/15 wheat harvest after timely rains
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 0452 GMT
Contract Month Last Change Low High Volume
MY PALM OIL FEB5 2240 -24.00 2230 2254 29
MY PALM OIL MAR5 2228 -19.00 2220 2249 388
MY PALM OIL APR5 2210 -20.00 2202 2222 7986
CHINA PALM OLEIN MAY5 4846 -22.00 4844 4874 180294
CHINA SOYOIL MAY5 5514 -52.00 5508 5562 240078
CBOT SOY OIL MAR5 31.48 -3.50 31.47 31.57 2367
INDIA PALM OIL JAN5 434.90 -3.50 434.00 439.50 488
INDIA SOYOIL FEB5 616.00 -9.00 615.70 624.80 50145
NYMEX CRUDE MAR5 45.06 -0.53 44.35 45.35 25835
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