MARKET DEVELOPMENT
Vegoils: Market Factors to Watch Jan 11
Vegoils: Market Factors to Watch Jan 11
11/01/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Monday Jan 11.
FUNDAMENTALS
* Malaysian palm oil futures bounced back on Friday after two days of losses as market focus shifted to a major industry report due early next week, which is forecast to show a decline in production.
* U.S. grain and soybean futures firmed on Friday on technical buying and short-covering as investors squared positions before a key government crop report due to be released on Tuesday.
* Oil fell for a fifth straight day on Friday, losing 10 percent on the week, and Goldman Sachs said more losses were needed to force producers to cut supplies adequately to balance the glut and bleak demand outlook in the market.
MARKET NEWS
* Asian share markets faced a testing time on Monday after Wall Street suffered its worst starting week in history and doubts over Beijing's policy choices sent investors into the arms of the safe-haven yen and sovereign bonds.
RELATED
> China must cut corn prices to clear stockpile - state media
> Malaysia forecasts warm El Nino weather from end-Jan to March
> Egypt's GASC seeking cargoes of soyoil, sunflower oil
> Drought, warm winters seen hitting India rapeseed output, oil content
> At private Goldman confab, U.S. oil drillers add to glut woes
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 0024 GMT
Contract Month Last Change Low High Volume
MY PALM OIL JAN6 0 +0.00 0 0 0
MY PALM OIL FEB6 0 +0.00 0 0 0
MY PALM OIL MAR6 0 +0.00 0 0 0
CHINA PALM OLEIN MAY6 4710 -30.00 4694 4750 466370
CHINA SOYOIL MAY6 5596 -42.00 5584 5642 253790
CBOT SOY OIL MAR6 29.64 -2.70 0.00 0.00 0
INDIA PALM OIL JAN6 410.50 -2.70 408.90 415.40 1239
INDIA SOYOIL JAN6 602.00 -4.55 602.00 607.80 24890
NYMEX CRUDE FEB6 32.45 -0.71 32.43 32.94 6200
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 bounced back on Friday after two days of losses as market focus shifted to a major industry report due early next week, which is forecast to show a decline in production.
* U.S. grain and soybean futures firmed on Friday on technical buying and short-covering as investors squared positions before a key government crop report due to be released on Tuesday.
* Oil fell for a fifth straight day on Friday, losing 10 percent on the week, and Goldman Sachs said more losses were needed to force producers to cut supplies adequately to balance the glut and bleak demand outlook in the market.
MARKET NEWS
* Asian share markets faced a testing time on Monday after Wall Street suffered its worst starting week in history and doubts over Beijing's policy choices sent investors into the arms of the safe-haven yen and sovereign bonds.
RELATED
> China must cut corn prices to clear stockpile - state media
> Malaysia forecasts warm El Nino weather from end-Jan to March
> Egypt's GASC seeking cargoes of soyoil, sunflower oil
> Drought, warm winters seen hitting India rapeseed output, oil content
> At private Goldman confab, U.S. oil drillers add to glut woes
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 0024 GMT
Contract Month Last Change Low High Volume
MY PALM OIL JAN6 0 +0.00 0 0 0
MY PALM OIL FEB6 0 +0.00 0 0 0
MY PALM OIL MAR6 0 +0.00 0 0 0
CHINA PALM OLEIN MAY6 4710 -30.00 4694 4750 466370
CHINA SOYOIL MAY6 5596 -42.00 5584 5642 253790
CBOT SOY OIL MAR6 29.64 -2.70 0.00 0.00 0
INDIA PALM OIL JAN6 410.50 -2.70 408.90 415.40 1239
INDIA SOYOIL JAN6 602.00 -4.55 602.00 607.80 24890
NYMEX CRUDE FEB6 32.45 -0.71 32.43 32.94 6200
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