MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Jan 21
VEGOILS-Market Factors to Watch Jan 21
21/01/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures slid nearly 1 percent on Wednesday, falling further from a three-week high reached at the start of the week, after data showed a drop in exports this month.
* U.S. soybean futures dropped 1.1 percent on Wednesday as investors locked in profits a day after the market's rally to a four-week high, traders said.
* U.S. oil prices crashed below $27 dollars a barrel on Wednesday for the first time since 2003, caught in a broad slump across world financial markets with traders also worried that the crude supply glut could last longer.
MARKET NEWS
* Global equity markets staged a late rebound along with oil prices on Wednesday to cut declines from 2-1/2 year lows, but remained on pace for one of the most dismal monthly performances on record.
RELATED
> Even in slump, U.S. oilfield firms hesitate over post-sanctions Iran
> Venezuela's call for emergency OPEC meet gets doubtful response
> Brazil 2016 coffee crop could set record at 51.9 mln bags -govt
> China 2015 cotton imports hit multi-year low, to drop more in 2016
> Indonesia 2016 palm oil exports seen lower, first drop in 5 years
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Jan 1-25 palm oil export data on January 26.
> Cargo surveyor SGS releases Malaysia's Jan 1-25 palm oil export data on January 26.
> MPOB releases Malaysia's January 2016 data on February 10.
Palm, soy and crude oil prices at 0021 GMT
Contract Month Last Change Low High Volume
MY PALM OIL FEB6 0 +0.00 0 0 0
MY PALM OIL MAR6 0 +0.00 0 0 0
MY PALM OIL APR6 0 +0.00 0 0 0
CHINA PALM OLEIN MAY6 4626 -56.00 4624 4650 428456
CHINA SOYOIL MAY6 5568 -30.00 5560 5588 211018
CBOT SOY OIL MAR6 29.81 -3.70 0.00 0.00 0
INDIA PALM OIL JAN6 424.30 -3.70 424.30 427.20 577
INDIA SOYOIL FEB6 603.30 -5.05 602.40 608.30 32560
NYMEX CRUDE MAR6 28.70 +0.35 28.32 28.85 5148
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