MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Jan 4
VEGOILS-Market Factors to Watch Jan 4
04/01/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets
FUNDAMENTALS
* Malaysian palm oil futures fell on Thursday, after reaching a new 18-month high, on concerns of slowing demand after data showed exports declined.
* U.S. soybean futures fell on Thursday as traders eyed forecasts for much-needed rains in Brazil, while corn and wheat ended narrowly mixed in light year-end trading.
* Oil prices rose on Thursday but fell as much as 35 percent for the year after a race to pump by Middle East crude producers and U.S. shale oil drillers created an unprecedented global glut that may take through 2016 to clear.
MARKET NEWS
* Stock and bond markets in major economies closed 2015 with a mixed performance, while oil prices and emerging markets cemented big losses during a year that provided few safe places for investors.
RELATED
> GRAINS-U.S. soy drifts lower; soy and grains post annual declines
> FOB Gulf Grain-Export offers hold in thin dealings ahead of holiday
> Export Summary-U.S. sells soybeans to China; South Korea buys rice
> USDA Attache Report: New Government Eliminates Export Permits for Grains and Oilseeds Buenos Aires Argentina
> CBOT soybeans sag on Brazil weather, end year down 14.5 percent
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Jan 1-10 palm oil export data on January 11.
> Cargo surveyor SGS releases Malaysia's Jan 1-10 palm oil export data on January 11.
> MPOB releases Malaysia's December 2015 data on January 11.
Palm, soy and crude oil prices at 1050 GMT
Contract Month Last Change Low High Volume
MY PALM OIL JAN6 2295 +4.00 2275 2300 127
MY PALM OIL FEB6 2419 +6.00 2398 2430 2703
MY PALM OIL MAR6 2495 +11.00 2474 2504 19342
CHINA PALM OLEIN MAY6 4864 +174.00 4792 4868 2192238
CHINA SOYOIL MAY6 5718 +132.00 5640 5730 1132472
CBOT SOY OIL MAR6 30.81 +0.50 30.79 31.00 4219
INDIA PALM OIL DEC5 401.60 +0.50 400.80 402.80 469
INDIA SOYOIL JAN6 619.50 -1.90 617.80 623.80 29550
NYMEX CRUDE FEB6 36.93 -0.94 36.85 37.40 38495
FUNDAMENTALS
* Malaysian palm oil futures fell on Thursday, after reaching a new 18-month high, on concerns of slowing demand after data showed exports declined.
* U.S. soybean futures fell on Thursday as traders eyed forecasts for much-needed rains in Brazil, while corn and wheat ended narrowly mixed in light year-end trading.
* Oil prices rose on Thursday but fell as much as 35 percent for the year after a race to pump by Middle East crude producers and U.S. shale oil drillers created an unprecedented global glut that may take through 2016 to clear.
MARKET NEWS
* Stock and bond markets in major economies closed 2015 with a mixed performance, while oil prices and emerging markets cemented big losses during a year that provided few safe places for investors.
RELATED
> GRAINS-U.S. soy drifts lower; soy and grains post annual declines
> FOB Gulf Grain-Export offers hold in thin dealings ahead of holiday
> Export Summary-U.S. sells soybeans to China; South Korea buys rice
> USDA Attache Report: New Government Eliminates Export Permits for Grains and Oilseeds Buenos Aires Argentina
> CBOT soybeans sag on Brazil weather, end year down 14.5 percent
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Jan 1-10 palm oil export data on January 11.
> Cargo surveyor SGS releases Malaysia's Jan 1-10 palm oil export data on January 11.
> MPOB releases Malaysia's December 2015 data on January 11.
Palm, soy and crude oil prices at 1050 GMT
Contract Month Last Change Low High Volume
MY PALM OIL JAN6 2295 +4.00 2275 2300 127
MY PALM OIL FEB6 2419 +6.00 2398 2430 2703
MY PALM OIL MAR6 2495 +11.00 2474 2504 19342
CHINA PALM OLEIN MAY6 4864 +174.00 4792 4868 2192238
CHINA SOYOIL MAY6 5718 +132.00 5640 5730 1132472
CBOT SOY OIL MAR6 30.81 +0.50 30.79 31.00 4219
INDIA PALM OIL DEC5 401.60 +0.50 400.80 402.80 469
INDIA SOYOIL JAN6 619.50 -1.90 617.80 623.80 29550
NYMEX CRUDE FEB6 36.93 -0.94 36.85 37.40 38495