MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Jan 20
VEGOILS-Market Factors to Watch Jan 20
20/01/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures staged a turnaround on Tuesday to notch modest gains as traders grew bullish on more pronounced forecasts of lower production.
* U.S. soybean and corn futures closed firmer on Tuesday, hitting four-week highs on concerns about rains slowing the early soybean harvest in Brazil and investor hopes of stimulus measures in China, traders said.
* Brent crude rebounded on Tuesday from 12-years lows after data showed record demand in China, but a warning by the world's energy watchdog that the market could "drown in oversupply" limited the global benchmark's gains and sent U.S. crude down to its lowest since 2003.
MARKET NEWS
* Asian share markets slipped early Wednesday as a relentless slide in oil prices wiped out an attempted rally on Wall Street and dealt a fresh blow to risk appetite.
RELATED
> Iran's GTC weighs cut in wheat reserves to 3 mln tonnes
> China's oil demand likely rose 2.5 pct last year, but 2016 looks weaker
> Global palm oil output growth to slow in 2016 -Mielke
> Brazil sugar mix from cane seen rising in 2016/17 season
> Insurer caution to slow oil tanker market's return to Iran
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Jan 1-20 palm oil export data on January 20.
> Cargo surveyor SGS releases Malaysia's Jan 1-20 palm oil export data on January 20.
> MPOB releases Malaysia's January 2016 data on February 10.
Palm, soy and crude oil prices at 0047 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 4712 +14.00 4708 4740 375494
CHINA SOYOIL MAY6 5622 +32.00 5616 5646 221884
CBOT SOY OIL MAR6 30.03 +0.50 0.00 0.00 0
INDIA PALM OIL JAN6 427.60 +0.50 424.00 428.50 1353
INDIA SOYOIL JAN6 613.20 -1.30 613.00 616.00 1650
NYMEX CRUDE FEB6 28.15 -0.31 27.92 28.58 567
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 staged a turnaround on Tuesday to notch modest gains as traders grew bullish on more pronounced forecasts of lower production.
* U.S. soybean and corn futures closed firmer on Tuesday, hitting four-week highs on concerns about rains slowing the early soybean harvest in Brazil and investor hopes of stimulus measures in China, traders said.
* Brent crude rebounded on Tuesday from 12-years lows after data showed record demand in China, but a warning by the world's energy watchdog that the market could "drown in oversupply" limited the global benchmark's gains and sent U.S. crude down to its lowest since 2003.
MARKET NEWS
* Asian share markets slipped early Wednesday as a relentless slide in oil prices wiped out an attempted rally on Wall Street and dealt a fresh blow to risk appetite.
RELATED
> Iran's GTC weighs cut in wheat reserves to 3 mln tonnes
> China's oil demand likely rose 2.5 pct last year, but 2016 looks weaker
> Global palm oil output growth to slow in 2016 -Mielke
> Brazil sugar mix from cane seen rising in 2016/17 season
> Insurer caution to slow oil tanker market's return to Iran
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Jan 1-20 palm oil export data on January 20.
> Cargo surveyor SGS releases Malaysia's Jan 1-20 palm oil export data on January 20.
> MPOB releases Malaysia's January 2016 data on February 10.
Palm, soy and crude oil prices at 0047 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 4712 +14.00 4708 4740 375494
CHINA SOYOIL MAY6 5622 +32.00 5616 5646 221884
CBOT SOY OIL MAR6 30.03 +0.50 0.00 0.00 0
INDIA PALM OIL JAN6 427.60 +0.50 424.00 428.50 1353
INDIA SOYOIL JAN6 613.20 -1.30 613.00 616.00 1650
NYMEX CRUDE FEB6 28.15 -0.31 27.92 28.58 567
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