MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Jan 19
VEGOILS-Market Factors to Watch Jan 19
19/01/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures rose tracking an improved Chinese Dalian soybean oil performance and as physical prices for crude palm oil (CPO) remained firm.
* U.S. corn and wheat futures each jumped 1 percent or more on Friday, shrugging off earlier losses as investors took profits on bearish short bets ahead of a three-day holiday weekend, traders and analysts said.
* Oil prices slumped to a 2003 low below $28 per barrel on Monday as the market anticipated a rise in Iranian exports after the lifting of sanctions against Tehran over the weekend.
MARKET NEWS
* Asian stocks were subdued early on Tuesday following a retreat in European shares overnight, while crude oil prices remained bearish following the lifting of sanctions against major producer Iran.
RELATED
> Iran boosts oil output, foreign firms keen to seal deals
> Argentina eases soybean import rules to tackle idle milling plants
> Growing appetite for soybeans to crimp China's palm oil needs
> Inverse in sugar futures signals tight supply before Brazil crop
> India's NALCO revives $2 bln Iran smelter plan as sanctions end
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 0025 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 4686 +8.00 4676 4710 418672
CHINA SOYOIL MAY6 5576 +26.00 5564 5584 112574
CBOT SOY OIL MAR6 29.65 +5.50 0.00 0.00 0
INDIA PALM OIL JAN6 427.20 +5.50 422.50 427.60 1150
INDIA SOYOIL JAN6 614.90 +1.95 613.20 617.60 5590
NYMEX CRUDE FEB6 29.00 -0.42 28.36 29.84 64906
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 rose tracking an improved Chinese Dalian soybean oil performance and as physical prices for crude palm oil (CPO) remained firm.
* U.S. corn and wheat futures each jumped 1 percent or more on Friday, shrugging off earlier losses as investors took profits on bearish short bets ahead of a three-day holiday weekend, traders and analysts said.
* Oil prices slumped to a 2003 low below $28 per barrel on Monday as the market anticipated a rise in Iranian exports after the lifting of sanctions against Tehran over the weekend.
MARKET NEWS
* Asian stocks were subdued early on Tuesday following a retreat in European shares overnight, while crude oil prices remained bearish following the lifting of sanctions against major producer Iran.
RELATED
> Iran boosts oil output, foreign firms keen to seal deals
> Argentina eases soybean import rules to tackle idle milling plants
> Growing appetite for soybeans to crimp China's palm oil needs
> Inverse in sugar futures signals tight supply before Brazil crop
> India's NALCO revives $2 bln Iran smelter plan as sanctions end
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 0025 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 4686 +8.00 4676 4710 418672
CHINA SOYOIL MAY6 5576 +26.00 5564 5584 112574
CBOT SOY OIL MAR6 29.65 +5.50 0.00 0.00 0
INDIA PALM OIL JAN6 427.20 +5.50 422.50 427.60 1150
INDIA SOYOIL JAN6 614.90 +1.95 613.20 617.60 5590
NYMEX CRUDE FEB6 29.00 -0.42 28.36 29.84 64906
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