MARKET DEVELOPMENT
Vegoils-Market Factors to Watch Tuesday Dec 8
Vegoils-Market Factors to Watch Tuesday Dec 8
08/12/2015 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Tuesday Dec 8..
FUNDAMENTALS
* Malaysian palm oil closed almost three percent higher on Monday, climbing to a two-month high, with the market driven up by strong gains in rival soyoil prices and fears that dryness due to the El Nino weather pattern will cut yields.
* U.S. soybean futures fell on Monday for the first time in six sessions and corn dropped after two sessions of gains on profit-taking and as traders took positions ahead of a government crop report due later this week.
* Crude oil futures tumbled 6 percent on Monday, reaching their lowest in nearly seven years, after OPEC failed to address a growing supply glut, while a stronger dollar made it more expensive to hold crude positions.
MARKET NEWS
* Oil prices skidded to their lowest level in nearly seven years on Monday, knocking down shares of major oil companies on Wall Street as a global glut showed no signs of abating.
RELATED
> Investors brace for oil price "lower for even longer" after OPEC
> Australia trims beef exports despite strong El Nino
> Scientists assembled for Monsanto say herbicide not carcinogenic, disputing WHO report
> Soybeans, corn drop from multiweek highs on profit taking
> Nigerian cocoa grinders say face fight for survival
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 4766 +28.00 4758 4810 389606
CHINA SOYOIL MAY6 5732 -10.00 5728 5780 377030
CBOT SOY OIL JAN6 31.25 +2.90 0.00 0.00 0
INDIA PALM OIL DEC5 415.40 +2.90 414.00 421.80 3159
INDIA SOYOIL DEC5 636.70 +6.05 632.50 641.40 32110
NYMEX CRUDE JAN6 37.84 +0.19 37.63 37.88 2259
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 closed almost three percent higher on Monday, climbing to a two-month high, with the market driven up by strong gains in rival soyoil prices and fears that dryness due to the El Nino weather pattern will cut yields.
* U.S. soybean futures fell on Monday for the first time in six sessions and corn dropped after two sessions of gains on profit-taking and as traders took positions ahead of a government crop report due later this week.
* Crude oil futures tumbled 6 percent on Monday, reaching their lowest in nearly seven years, after OPEC failed to address a growing supply glut, while a stronger dollar made it more expensive to hold crude positions.
MARKET NEWS
* Oil prices skidded to their lowest level in nearly seven years on Monday, knocking down shares of major oil companies on Wall Street as a global glut showed no signs of abating.
RELATED
> Investors brace for oil price "lower for even longer" after OPEC
> Australia trims beef exports despite strong El Nino
> Scientists assembled for Monsanto say herbicide not carcinogenic, disputing WHO report
> Soybeans, corn drop from multiweek highs on profit taking
> Nigerian cocoa grinders say face fight for survival
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 4766 +28.00 4758 4810 389606
CHINA SOYOIL MAY6 5732 -10.00 5728 5780 377030
CBOT SOY OIL JAN6 31.25 +2.90 0.00 0.00 0
INDIA PALM OIL DEC5 415.40 +2.90 414.00 421.80 3159
INDIA SOYOIL DEC5 636.70 +6.05 632.50 641.40 32110
NYMEX CRUDE JAN6 37.84 +0.19 37.63 37.88 2259
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