MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Jan 8
VEGOILS-Market Factors to Watch Jan 8
08/01/2016 (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, hitting a three-week low, due to weak export demand and a narrowing spread between the tropical oil and soyoil.
* U.S. corn futures neared a seven-month low on Thursday on concerns about poor export demand and large world supplies.
* Oil prices fell for a fourth day on Thursday, lurching again to 12-year lows as new financial market tumult in China brought a $30 per barrel handle within view.
MARKET NEWS
* Shares on major exchanges fell for a sixth straight day on Thursday and crude oil prices touched multi-year lows as investors fretted over the state of China's economy and its ability to stabilize its stock market.
RELATED
> Malaysia's palm oil stocks to ease in Dec, first drop in six months
> Cargill 2nd-qtr profit drops 13 pct amid commodities slump
> Thai govt says may cap rubber exports if prices keep falling
> New U.S. diet rules would take 20 pct bite out of American sugar use
> Crude oil, base metals slide on China crisis; gold glimmers
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 0010 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 4750 +18.00 4698 4758 661074
CHINA SOYOIL MAY6 5650 +22.00 5606 5664 264714
CBOT SOY OIL MAR6 29.62 +2.70 0.00 0.00 0
INDIA PALM OIL JAN6 414.00 +2.70 408.10 414.60 2781
INDIA SOYOIL JAN6 606.90 +4.95 596.30 607.50 35970
NYMEX CRUDE FEB6 33.36 +0.09 33.26 33.40 1534
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 fell on Thursday, hitting a three-week low, due to weak export demand and a narrowing spread between the tropical oil and soyoil.
* U.S. corn futures neared a seven-month low on Thursday on concerns about poor export demand and large world supplies.
* Oil prices fell for a fourth day on Thursday, lurching again to 12-year lows as new financial market tumult in China brought a $30 per barrel handle within view.
MARKET NEWS
* Shares on major exchanges fell for a sixth straight day on Thursday and crude oil prices touched multi-year lows as investors fretted over the state of China's economy and its ability to stabilize its stock market.
RELATED
> Malaysia's palm oil stocks to ease in Dec, first drop in six months
> Cargill 2nd-qtr profit drops 13 pct amid commodities slump
> Thai govt says may cap rubber exports if prices keep falling
> New U.S. diet rules would take 20 pct bite out of American sugar use
> Crude oil, base metals slide on China crisis; gold glimmers
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 0010 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 4750 +18.00 4698 4758 661074
CHINA SOYOIL MAY6 5650 +22.00 5606 5664 264714
CBOT SOY OIL MAR6 29.62 +2.70 0.00 0.00 0
INDIA PALM OIL JAN6 414.00 +2.70 408.10 414.60 2781
INDIA SOYOIL JAN6 606.90 +4.95 596.30 607.50 35970
NYMEX CRUDE FEB6 33.36 +0.09 33.26 33.40 1534
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