MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Dec 10
VEGOILS-Market Factors to Watch Dec 10
12/10/2015 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures slid for a second session on Wednesday as traders squared positions ahead of key supply and demand data from the United States and Malaysia.
* Chicago wheat futures rose on Wednesday, as short-covering and a weaker U.S. dollar buoyed prices after a two-day slide, while a U.S. government report held corn in check.
* Oil prices fell for a fourth day in a row on Wednesday after the market ignored an unexpected drawdown in U.S. crude stockpiles to focus on a build in distillates, including diesel, that came in twice as large than expected.
MARKET NEWS
* Oil prices slipped on Wednesday, giving up gains after an early rebound on a drop in U.S. crude oil inventories, while the dollar fell as investors betting against the euro were forced to reverse those positions following hawkish comments from a European policymaker.
RELATED
> ANALYSIS-Biggest 2016 risk may be the one just behind us: oil
> Argentine biodiesel group aims to block U.S. tax credit change
> Wheat rises on dollar weakness; bigger stocks hold corn in check
> U.S. corn supplies rising as export outlook dims - USDA
> China to bring forward corn sales, force warehouses to offload-sources
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 4694 +20.00 4642 4696 394106
CHINA SOYOIL MAY6 5598 -10.00 5558 5606 439090
CBOT SOY OIL JAN6 31.11 -2.50 0.00 0.00 0
INDIA PALM OIL DEC5 409.30 -2.50 408.60 412.40 1205
INDIA SOYOIL DEC5 632.10 -0.55 630.50 635.80 10295
NYMEX CRUDE JAN6 37.39 +0.23 37.26 37.45 1564
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 slid for a second session on Wednesday as traders squared positions ahead of key supply and demand data from the United States and Malaysia.
* Chicago wheat futures rose on Wednesday, as short-covering and a weaker U.S. dollar buoyed prices after a two-day slide, while a U.S. government report held corn in check.
* Oil prices fell for a fourth day in a row on Wednesday after the market ignored an unexpected drawdown in U.S. crude stockpiles to focus on a build in distillates, including diesel, that came in twice as large than expected.
MARKET NEWS
* Oil prices slipped on Wednesday, giving up gains after an early rebound on a drop in U.S. crude oil inventories, while the dollar fell as investors betting against the euro were forced to reverse those positions following hawkish comments from a European policymaker.
RELATED
> ANALYSIS-Biggest 2016 risk may be the one just behind us: oil
> Argentine biodiesel group aims to block U.S. tax credit change
> Wheat rises on dollar weakness; bigger stocks hold corn in check
> U.S. corn supplies rising as export outlook dims - USDA
> China to bring forward corn sales, force warehouses to offload-sources
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 4694 +20.00 4642 4696 394106
CHINA SOYOIL MAY6 5598 -10.00 5558 5606 439090
CBOT SOY OIL JAN6 31.11 -2.50 0.00 0.00 0
INDIA PALM OIL DEC5 409.30 -2.50 408.60 412.40 1205
INDIA SOYOIL DEC5 632.10 -0.55 630.50 635.80 10295
NYMEX CRUDE JAN6 37.39 +0.23 37.26 37.45 1564
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