MARKET DEVELOPMENT
Vegoils: Market Factors to Watch on Tuesday Feb 17
Vegoils: Market Factors to Watch on Tuesday Feb 17
17/02/2015 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Tuesday Feb 17.
FUNDAMENTALS
* Malaysian palm oil futures closed higher on Monday as buyers were encouraged by the country's announcement it would not reinstate an export tax on palm for March, and on the release of better-than-expected export figures.
* U.S. soybean futures rose for the third consecutive day on Friday as demand for U.S. stocks of the oilseed remained strong while overseas buyers waited for supplies from the South American harvest to hit the market, traders said.
* Oil prices were little changed on Monday after touching their highest nearly two months, as gains in the dollar following the collapse of Greek debt talks offset growing violence in Libya and concerns over exports from Kurdistan.
MARKET NEWS
* U.S. stock futures and the euro tumbled in early Asian trade on Tuesday after talks between Greece and euro zone finance ministers broke down when Athens rejected a proposal to request a six-month extension of its international bailout programme.
RELATED
> Modernising China's agriculture key to tackling slower economy - Premier
> Indonesia's trade balance in surprising surplus in Jan as imports slide
> Malaysia surprises by keeping crude palm oil exports tax free
> Canada seeks to increase cereal exports to Bangladesh-official
DATA/EVENTS
> nil
Palm, soy and crude oil prices at 0011 GMT
Contract Month Last Change Low High Volume
MY PALM OIL MAR5 0 +0.00 0 0 0
MY PALM OIL APR5 0 +0.00 0 0 0
MY PALM OIL MAY5 0 +0.00 0 0 0
CHINA PALM OLEIN MAY5 4996 -8.00 4990 5010 29150
CHINA SOYOIL MAY5 5564 -10.00 5556 5576 11116
CBOT SOY OIL MAR5 32.34 +8.80 0.00 0.00 0
INDIA PALM OIL FEB5 467.70 +8.80 458.80 469.40 1669
INDIA SOYOIL FEB5 625.00 +5.90 620.00 625.00 9330
NYMEX CRUDE MAR5 52.79 +0.01 52.10 53.69 93093
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 closed higher on Monday as buyers were encouraged by the country's announcement it would not reinstate an export tax on palm for March, and on the release of better-than-expected export figures.
* U.S. soybean futures rose for the third consecutive day on Friday as demand for U.S. stocks of the oilseed remained strong while overseas buyers waited for supplies from the South American harvest to hit the market, traders said.
* Oil prices were little changed on Monday after touching their highest nearly two months, as gains in the dollar following the collapse of Greek debt talks offset growing violence in Libya and concerns over exports from Kurdistan.
MARKET NEWS
* U.S. stock futures and the euro tumbled in early Asian trade on Tuesday after talks between Greece and euro zone finance ministers broke down when Athens rejected a proposal to request a six-month extension of its international bailout programme.
RELATED
> Modernising China's agriculture key to tackling slower economy - Premier
> Indonesia's trade balance in surprising surplus in Jan as imports slide
> Malaysia surprises by keeping crude palm oil exports tax free
> Canada seeks to increase cereal exports to Bangladesh-official
DATA/EVENTS
> nil
Palm, soy and crude oil prices at 0011 GMT
Contract Month Last Change Low High Volume
MY PALM OIL MAR5 0 +0.00 0 0 0
MY PALM OIL APR5 0 +0.00 0 0 0
MY PALM OIL MAY5 0 +0.00 0 0 0
CHINA PALM OLEIN MAY5 4996 -8.00 4990 5010 29150
CHINA SOYOIL MAY5 5564 -10.00 5556 5576 11116
CBOT SOY OIL MAR5 32.34 +8.80 0.00 0.00 0
INDIA PALM OIL FEB5 467.70 +8.80 458.80 469.40 1669
INDIA SOYOIL FEB5 625.00 +5.90 620.00 625.00 9330
NYMEX CRUDE MAR5 52.79 +0.01 52.10 53.69 93093
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