MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Feb 23
VEGOILS-Market Factors to Watch Feb 23
23/02/2016 (Reuters) – The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures fell on Monday, handing back gains earlier in the session, sealing a third consecutive day of losses due to an unexpected rise in production numbers.
* U.S. soybean futures rose to their highest in nearly three weeks on Monday, supported by technical buying and signs of stronger-than-expected export demand, traders said.
* Oil markets settled up as much as 6 percent on Monday as speculation about falling U.S. shale output and a rally in equities fed the notion that crude prices may be bottoming after a 20-month collapse.
MARKET NEWS
* Asian shares rose to a seven-week high on Tuesday as investors took heart from signs of life in battered energy and commodity markets while European currencies are hampered by worries Britain could exit the European Union.
RELATED
> Noble Group to take $1.2 bln impairment, Q4 loss on weak commodities
> Sugar deficit forecasts to rise on reduced Indian and Thai output
> Chinese driven aluminium overhang to foil price bulls
> UPDATE 3-Shale resurgence to boost U.S. oil output to record high by 2021
> China Jan distillers' grains imports up fourfold y/y -customs
> Malaysia's Feb 1-20 palm oil exports fell 12.6 pct -SGS
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Feb 1-25 palm oil export data on Feb 25.
> Cargo surveyor SGS releases Malaysia's Feb 1-25 palm oil export data on Feb 25.
Palm, soy and crude oil prices at 0039 GMT
Contract Month Last Change Low High Volume
MY PALM OIL MAR6 0 +0.00 0 0 0
MY PALM OIL APR6 0 +0.00 0 0 0
MY PALM OIL MAY6 0 +0.00 0 0 0
CHINA PALM OLEIN MAY6 5022 -6.00 5010 5050 391622
CHINA SOYOIL MAY6 5754 -18.00 5744 5776 160472
CBOT SOY OIL MAR6 31.49 -1.00 0.00 0.00 0
INDIA PALM OIL FEB6 484.30 -1.00 482.30 488.00 1076
INDIA SOYOIL MAR6 625.75 -1.30 622.50 630.70 48780
NYMEX CRUDE APR6 33.30 -0.09 33.19 33.45 5509
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 fell on Monday, handing back gains earlier in the session, sealing a third consecutive day of losses due to an unexpected rise in production numbers.
* U.S. soybean futures rose to their highest in nearly three weeks on Monday, supported by technical buying and signs of stronger-than-expected export demand, traders said.
* Oil markets settled up as much as 6 percent on Monday as speculation about falling U.S. shale output and a rally in equities fed the notion that crude prices may be bottoming after a 20-month collapse.
MARKET NEWS
* Asian shares rose to a seven-week high on Tuesday as investors took heart from signs of life in battered energy and commodity markets while European currencies are hampered by worries Britain could exit the European Union.
RELATED
> Noble Group to take $1.2 bln impairment, Q4 loss on weak commodities
> Sugar deficit forecasts to rise on reduced Indian and Thai output
> Chinese driven aluminium overhang to foil price bulls
> UPDATE 3-Shale resurgence to boost U.S. oil output to record high by 2021
> China Jan distillers' grains imports up fourfold y/y -customs
> Malaysia's Feb 1-20 palm oil exports fell 12.6 pct -SGS
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Feb 1-25 palm oil export data on Feb 25.
> Cargo surveyor SGS releases Malaysia's Feb 1-25 palm oil export data on Feb 25.
Palm, soy and crude oil prices at 0039 GMT
Contract Month Last Change Low High Volume
MY PALM OIL MAR6 0 +0.00 0 0 0
MY PALM OIL APR6 0 +0.00 0 0 0
MY PALM OIL MAY6 0 +0.00 0 0 0
CHINA PALM OLEIN MAY6 5022 -6.00 5010 5050 391622
CHINA SOYOIL MAY6 5754 -18.00 5744 5776 160472
CBOT SOY OIL MAR6 31.49 -1.00 0.00 0.00 0
INDIA PALM OIL FEB6 484.30 -1.00 482.30 488.00 1076
INDIA SOYOIL MAR6 625.75 -1.30 622.50 630.70 48780
NYMEX CRUDE APR6 33.30 -0.09 33.19 33.45 5509
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