MARKET DEVELOPMENT
Vegoils: Market Factors to Watch Monday Feb 23
Vegoils: Market Factors to Watch Monday Feb 23
23/02/2015 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Monday Feb 23.
FUNDAMENTALS
* Malaysian palm oil futures ended slightly higher in a shortened session on Wednesday, tracking U.S. soy markets ahead of the Lunar New Year break, but the prospect of bigger yields at a time of sluggish demand stopped prices going much higher.
* U.S. wheat futures plunged 3.3 percent on Friday, their biggest decline in nearly two months, on more signs of poor export prospects for U.S. supplies, traders said.
* Crude prices ended mixed on Friday as the number of U.S. rigs drilling for oil fell far less than expected this week, while heating oil jumped 6 percent after severe winter cold crimped output at three refineries.
MARKET NEWS
* Stock markets and the euro started the week on a cautious note on Monday as a Greek debt deal struck last week remained in the balance until Athens drew up a list of reforms to satisfy its creditors.
RELATED
> Indonesian Jan palm oil output seen down 5 pct -Reuters survey
> TABLE-Indonesia's Jan palm oil exports fall 8 pct m/m
> USDA sees corn supplies shrinking, soy stocks rising in 2015
> Brazilian grain trucker blockade continues, threatens harvest
> Russian official suggests grain export curbs, lower sugar import tax
> Despite hunger, Mozambique leases huge land holdings to foreigners - TRFN
> Vilmorin sees Ukraine, Russia seed sales falling as crisis bites
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's Feb 1-20 palm oil exports on Feb. 23.
Palm, soy and crude oil prices at 0015 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 0 +0.00 0 0 0
CHINA SOYOIL MAY5 0 +0.00 0 0 0
CBOT SOY OIL MAY5 31.67 -2.70 0.00 0.00 0
INDIA PALM OIL FEB5 462.00 -2.70 461.70 465.80 695
INDIA SOYOIL APR5 598.20 -8.35 598.00 607.50 30680
NYMEX CRUDE APR5 50.52 -0.29 50.21 50.80 4839
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 ended slightly higher in a shortened session on Wednesday, tracking U.S. soy markets ahead of the Lunar New Year break, but the prospect of bigger yields at a time of sluggish demand stopped prices going much higher.
* U.S. wheat futures plunged 3.3 percent on Friday, their biggest decline in nearly two months, on more signs of poor export prospects for U.S. supplies, traders said.
* Crude prices ended mixed on Friday as the number of U.S. rigs drilling for oil fell far less than expected this week, while heating oil jumped 6 percent after severe winter cold crimped output at three refineries.
MARKET NEWS
* Stock markets and the euro started the week on a cautious note on Monday as a Greek debt deal struck last week remained in the balance until Athens drew up a list of reforms to satisfy its creditors.
RELATED
> Indonesian Jan palm oil output seen down 5 pct -Reuters survey
> TABLE-Indonesia's Jan palm oil exports fall 8 pct m/m
> USDA sees corn supplies shrinking, soy stocks rising in 2015
> Brazilian grain trucker blockade continues, threatens harvest
> Russian official suggests grain export curbs, lower sugar import tax
> Despite hunger, Mozambique leases huge land holdings to foreigners - TRFN
> Vilmorin sees Ukraine, Russia seed sales falling as crisis bites
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's Feb 1-20 palm oil exports on Feb. 23.
Palm, soy and crude oil prices at 0015 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 0 +0.00 0 0 0
CHINA SOYOIL MAY5 0 +0.00 0 0 0
CBOT SOY OIL MAY5 31.67 -2.70 0.00 0.00 0
INDIA PALM OIL FEB5 462.00 -2.70 461.70 465.80 695
INDIA SOYOIL APR5 598.20 -8.35 598.00 607.50 30680
NYMEX CRUDE APR5 50.52 -0.29 50.21 50.80 4839
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