MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Jan 22
VEGOILS-Market Factors to Watch Jan 22
22/01/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures stretched their losses into a second straight session on Thursday to hit a four-day low, tracking weak crude and competing vegetable oil prices.
* U.S. corn futures fell on Thursday, breaking a three-day streak of gains, as a pick-up in country movement of the yellow grain pulled prices from one-month highs hit early in the session, traders said.
* Oil prices rebounded over $1 a barrel from 12-year lows on Thursday, their biggest daily gain this year, as rallying financial markets gave some bearish traders reason to take profits on record short positions.
MARKET NEWS
* Asian stocks gained early on Friday, after the markets were given some breathing space when the European Central Bank hinted of more monetary policy easing, while crude oil extended an overnight rally.
RELATED
> IGC sees global grains stocks climbing to 29-year high
> Monsanto sues to keep herbicide off California list of carcinogens
> China imports record amount of sugar in 2015
> No sign Saudi Arabia will ride to oil market rescue
> Russian grain exports record-high in December on weak rouble
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 0027 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 4582 -16.00 4558 4584 431282
CHINA SOYOIL MAY6 5554 -4.00 5526 5558 158624
CBOT SOY OIL MAR6 29.94 +1.50 0.00 0.00 0
INDIA PALM OIL JAN6 426.00 +1.50 421.10 426.50 760
INDIA SOYOIL FEB6 604.60 +1.15 602.00 605.00 34170
NYMEX CRUDE MAR6 29.78 +0.25 29.67 29.99 3637
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 stretched their losses into a second straight session on Thursday to hit a four-day low, tracking weak crude and competing vegetable oil prices.
* U.S. corn futures fell on Thursday, breaking a three-day streak of gains, as a pick-up in country movement of the yellow grain pulled prices from one-month highs hit early in the session, traders said.
* Oil prices rebounded over $1 a barrel from 12-year lows on Thursday, their biggest daily gain this year, as rallying financial markets gave some bearish traders reason to take profits on record short positions.
MARKET NEWS
* Asian stocks gained early on Friday, after the markets were given some breathing space when the European Central Bank hinted of more monetary policy easing, while crude oil extended an overnight rally.
RELATED
> IGC sees global grains stocks climbing to 29-year high
> Monsanto sues to keep herbicide off California list of carcinogens
> China imports record amount of sugar in 2015
> No sign Saudi Arabia will ride to oil market rescue
> Russian grain exports record-high in December on weak rouble
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 0027 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 4582 -16.00 4558 4584 431282
CHINA SOYOIL MAY6 5554 -4.00 5526 5558 158624
CBOT SOY OIL MAR6 29.94 +1.50 0.00 0.00 0
INDIA PALM OIL JAN6 426.00 +1.50 421.10 426.50 760
INDIA SOYOIL FEB6 604.60 +1.15 602.00 605.00 34170
NYMEX CRUDE MAR6 29.78 +0.25 29.67 29.99 3637
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