MARKET DEVELOPMENT
Vegoils-Market Factors to Watch Monday Dec 7
Vegoils-Market Factors to Watch Monday Dec 7
07/12/2015 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and othervegetable oil markets on Monday Dec 7.
FUNDAMENTALS
* Malaysian palm oil futures closed marginally higher on Friday after climbing to a four-week top earlier in the session on expectations that dry weather due to the El Nino weather pattern will reduce production across Southeast Asia.
* U.S. corn and wheat rose on Friday, extending steep gains from the previous session on technical buying while soybeans jumped to a one-month high on large export sales of soybeans to China.
* Oil prices fell on Friday after news that the Organization of the Petroleum Exporting Countries was planning to maintain its production near record highs despite depressed prices, as OPEC continued to guard its share of an oversupplied market.
MARKET NEWS
* Asian share markets bounced on Monday after Wall Street welcomed an upbeat U.S. jobs report that suggested the world's biggest economy was well placed to handle an expected first increase in interest rates in almost a decade.
RELATED
> PREVIEW-Malaysia's November palm stocks seen growing slightly from 15-year high record
> China vaults to top buyer of U.S. ethanol in October as imports soar
> OPEC fails to agree production ceiling after Iran pledges output boost
> Iran oil minister blames OPEC oversupply for low crude prices
> Better weather boosts Canada's wheat, canola crops more than expected
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Dec 1-10 palm oil export data on December 10.
> Malaysian Palm Oil Board releases Malaysia's monthly palm oil data on December 10.
Contract Month Last Change Low High Volume
MY PALM OIL DEC5 0 +0.00 0 0 0
MY PALM OIL JAN6 0 +0.00 0 0 0
MY PALM OIL FEB6 0 +0.00 0 0 0
CHINA PALM OLEIN MAY6 4672 +24.00 4644 4676 295812
CHINA SOYOIL MAY6 5686 -6.00 5648 5692 317204
CBOT SOY OIL JAN6 32.08 +8.80 0.00 0.00 0
INDIA PALM OIL DEC5 412.60 +8.80 405.00 413.90 3216
INDIA SOYOIL DEC5 630.75 +4.50 623.60 630.80 23770
NYMEX CRUDE JAN6 39.52 -0.45 39.20 40.15 11261
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 marginally higher on Friday after climbing to a four-week top earlier in the session on expectations that dry weather due to the El Nino weather pattern will reduce production across Southeast Asia.
* U.S. corn and wheat rose on Friday, extending steep gains from the previous session on technical buying while soybeans jumped to a one-month high on large export sales of soybeans to China.
* Oil prices fell on Friday after news that the Organization of the Petroleum Exporting Countries was planning to maintain its production near record highs despite depressed prices, as OPEC continued to guard its share of an oversupplied market.
MARKET NEWS
* Asian share markets bounced on Monday after Wall Street welcomed an upbeat U.S. jobs report that suggested the world's biggest economy was well placed to handle an expected first increase in interest rates in almost a decade.
RELATED
> PREVIEW-Malaysia's November palm stocks seen growing slightly from 15-year high record
> China vaults to top buyer of U.S. ethanol in October as imports soar
> OPEC fails to agree production ceiling after Iran pledges output boost
> Iran oil minister blames OPEC oversupply for low crude prices
> Better weather boosts Canada's wheat, canola crops more than expected
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Dec 1-10 palm oil export data on December 10.
> Malaysian Palm Oil Board releases Malaysia's monthly palm oil data on December 10.
Contract Month Last Change Low High Volume
MY PALM OIL DEC5 0 +0.00 0 0 0
MY PALM OIL JAN6 0 +0.00 0 0 0
MY PALM OIL FEB6 0 +0.00 0 0 0
CHINA PALM OLEIN MAY6 4672 +24.00 4644 4676 295812
CHINA SOYOIL MAY6 5686 -6.00 5648 5692 317204
CBOT SOY OIL JAN6 32.08 +8.80 0.00 0.00 0
INDIA PALM OIL DEC5 412.60 +8.80 405.00 413.90 3216
INDIA SOYOIL DEC5 630.75 +4.50 623.60 630.80 23770
NYMEX CRUDE JAN6 39.52 -0.45 39.20 40.15 11261
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