MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Nov 22
VEGOILS-Market Factors to Watch Nov 22
22/11/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures rose about 2 percent on Monday, reaching their highest intraday levels in more than a week, supported by gains in rival oils and a weaker ringgit.
* U.S. soybean futures climbed more than 2 percent on Monday and set a three-week high, led by strength in Asian oilseed markets and stronger-than-expected weekly export data, analysts said.
* Oil prices surged 4 percent to a three-week high on Monday, bolstered by growing conviction that major oil producing countries would agree next week to limit output.
MARKET NEWS
* U.S. stocks climbed on Monday to close at a record and European equity markets also moved higher as a jump in oil prices helped spur gains in the energy sector.
RELATED
> China grain buyers turn abroad as local suppliers fail on trucking
> EU winter cereals not at risk despite tough sowing -MARS
> Russia's slow grain exports raise doubts over 2016/17 forecast
> EU crop monitor lifts maize yield estimate, trims sugar beet
> Indian soyoil edges up tracking palm, overseas markets
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Nov 1-25 palm oil export data on Nov 25.
> Cargo surveyor SGS releases Malaysia's Nov 1-25 palm oil export data on Nov 25.
Palm, soy and crude oil prices at 0030 GMT
Contract Month Last Change Low High Volume
MY PALM OIL DEC6 0 +0.00 0 0 0
MY PALM OIL JAN7 0 +0.00 0 0 0
MY PALM OIL FEB7 0 +0.00 0 0 0
CHINA PALM OLEIN JAN7 6266 +62.00 6238 6288 207008
CHINA SOYOIL JAN7 6746 +50.00 6708 6754 106714
CBOT SOY OIL DEC6 34.64 +11.50 0 0 0
INDIA PALM OIL NOV6 538.80 +11.50 530.00 538.9 709
INDIA SOYOIL DEC6 690.3 +6.15 686.8 690.5 16590
NYMEX CRUDE JAN7 48.58 +0.34 48.35 48.68 6543
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 about 2 percent on Monday, reaching their highest intraday levels in more than a week, supported by gains in rival oils and a weaker ringgit.
* U.S. soybean futures climbed more than 2 percent on Monday and set a three-week high, led by strength in Asian oilseed markets and stronger-than-expected weekly export data, analysts said.
* Oil prices surged 4 percent to a three-week high on Monday, bolstered by growing conviction that major oil producing countries would agree next week to limit output.
MARKET NEWS
* U.S. stocks climbed on Monday to close at a record and European equity markets also moved higher as a jump in oil prices helped spur gains in the energy sector.
RELATED
> China grain buyers turn abroad as local suppliers fail on trucking
> EU winter cereals not at risk despite tough sowing -MARS
> Russia's slow grain exports raise doubts over 2016/17 forecast
> EU crop monitor lifts maize yield estimate, trims sugar beet
> Indian soyoil edges up tracking palm, overseas markets
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Nov 1-25 palm oil export data on Nov 25.
> Cargo surveyor SGS releases Malaysia's Nov 1-25 palm oil export data on Nov 25.
Palm, soy and crude oil prices at 0030 GMT
Contract Month Last Change Low High Volume
MY PALM OIL DEC6 0 +0.00 0 0 0
MY PALM OIL JAN7 0 +0.00 0 0 0
MY PALM OIL FEB7 0 +0.00 0 0 0
CHINA PALM OLEIN JAN7 6266 +62.00 6238 6288 207008
CHINA SOYOIL JAN7 6746 +50.00 6708 6754 106714
CBOT SOY OIL DEC6 34.64 +11.50 0 0 0
INDIA PALM OIL NOV6 538.80 +11.50 530.00 538.9 709
INDIA SOYOIL DEC6 690.3 +6.15 686.8 690.5 16590
NYMEX CRUDE JAN7 48.58 +0.34 48.35 48.68 6543
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