MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Jan 14
VEGOILS-Market Factors to Watch Jan 14
14/01/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures fell to their lowest in nearly a week on Tuesday, following losses in U.S. and Chinese soyoil markets, while plunging crude prices stoked concerns about demand for palm from biofuel producers.
* U.S. corn tumbled the most since June and soybean futures extended declines to a one-month low on Tuesday as plentiful global stockpiles triggered massive liquidation of long positions by investment funds, traders and analysts said.
* Oil tumbled 5 percent to near six-year lows before recovering ground on Tuesday, and Brent briefly traded at par to U.S. crude for the first time in three months as some traders moved to take advantage of ample storage space in the United States.
MARKET NEWS
* The euro was pinned near nine-year lows on Wednesday as investors wagered the European Central Bank was just a week away from launching a new stimulus campaign, while concerns about the global economy kept Asian equities subdued.
RELATED
> Brazil says key soy road won't be paved until 2016
> Taiwan's MFIG buys 50,000 T corn from U.S. in tender- trade
> Cheaper prices drive China Dec commodity imports to record highs
> China Dec soy imports hit record, up over 40 pct on month
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's Jan. 1-15 palm oil exports on Jan 15.
Palm, soy and crude oil prices at 0054 GMT
Contract Month Last Change Low High Volume
MY PALM OIL JAN5 0 +0.00 0 0 0
MY PALM OIL FEB5 0 +0.00 0 0 0
MY PALM OIL MAR5 0 +0.00 0 0 0
CHINA PALM OLEIN MAY5 4984 -24.00 4974 5008 123174
CHINA SOYOIL MAY5 5650 -30.00 5640 5676 104446
CBOT SOY OIL MAR5 32.54 +0.20 0.00 0.00 0
INDIA PALM OIL JAN5 461.80 +0.20 458.80 462.60 963
NYMEX CRUDE FEB5 46.24 +0.35 45.91 46.29 2837
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 futures and
FUNDAMENTALS
* Malaysian palm oil futures fell to their lowest in nearly a week on Tuesday, following losses in U.S. and Chinese soyoil markets, while plunging crude prices stoked concerns about demand for palm from biofuel producers.
* U.S. corn tumbled the most since June and soybean futures extended declines to a one-month low on Tuesday as plentiful global stockpiles triggered massive liquidation of long positions by investment funds, traders and analysts said.
* Oil tumbled 5 percent to near six-year lows before recovering ground on Tuesday, and Brent briefly traded at par to U.S. crude for the first time in three months as some traders moved to take advantage of ample storage space in the United States.
MARKET NEWS
* The euro was pinned near nine-year lows on Wednesday as investors wagered the European Central Bank was just a week away from launching a new stimulus campaign, while concerns about the global economy kept Asian equities subdued.
RELATED
> Brazil says key soy road won't be paved until 2016
> Taiwan's MFIG buys 50,000 T corn from U.S. in tender- trade
> Cheaper prices drive China Dec commodity imports to record highs
> China Dec soy imports hit record, up over 40 pct on month
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's Jan. 1-15 palm oil exports on Jan 15.
Palm, soy and crude oil prices at 0054 GMT
Contract Month Last Change Low High Volume
MY PALM OIL JAN5 0 +0.00 0 0 0
MY PALM OIL FEB5 0 +0.00 0 0 0
MY PALM OIL MAR5 0 +0.00 0 0 0
CHINA PALM OLEIN MAY5 4984 -24.00 4974 5008 123174
CHINA SOYOIL MAY5 5650 -30.00 5640 5676 104446
CBOT SOY OIL MAR5 32.54 +0.20 0.00 0.00 0
INDIA PALM OIL JAN5 461.80 +0.20 458.80 462.60 963
NYMEX CRUDE FEB5 46.24 +0.35 45.91 46.29 2837
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 futures and