MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Nov 29
VEGOILS-Market Factors to Watch Nov 29
29/11/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm futures rose on Monday for a sixth straight session, helped by tight supplies and price forecasts by leading analysts at an industry conference on Friday.
* U.S. soybean futures rose for the seventh day in a row on Monday, led higher by strong export demand gains in the soymeal market, traders said.
* Oil prices gained more than 2 percent on Monday in volatile trading after falling as much as 2 percent, recouping losses as the market reacted to the shaky prospect of major producers being able to agree output cuts at a meeting on Wednesday.
MARKET NEWS
* The U.S. dollar took a breather on Tuesday as global bonds steadied from their recent rout, while equities flatlined as political risk resurfaced in Europe ahead of a referendum in Italy this weekend.
RELATED
> Trump faces dilemma as U.S. oil reels from record biofuels targets
> ndonesia to halt corn imports by 2018 at latest -minister
> OPEC experts end meeting, no agreement on detail
> U.S. says biofuels program not expected to meet targeted emissions
> Mexico certifies bidders for December deep water oil auctions
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Nov 1-25 palm oil export data on Nov 30.
> Cargo surveyor SGS releases Malaysia's Nov 1-25 palm oil export data on Nov 30.
Palm, soy and crude oil prices at 0036 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 MAY7 6316 +4.00 6280 6350 276978
CHINA SOYOIL MAY7 7200 +40.00 7132 7220 287300
CBOT SOY OIL JAN7 36.97 +8.10 0 0 0
INDIA PALM OIL NOV6 556.00 +8.10 550.30 556.8 354
INDIA SOYOIL DEC6 715.7 +5.90 713 721.2 34090
NYMEX CRUDE JAN7 46.85 -0.23 46.67 46.96 4008
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 futures rose on Monday for a sixth straight session, helped by tight supplies and price forecasts by leading analysts at an industry conference on Friday.
* U.S. soybean futures rose for the seventh day in a row on Monday, led higher by strong export demand gains in the soymeal market, traders said.
* Oil prices gained more than 2 percent on Monday in volatile trading after falling as much as 2 percent, recouping losses as the market reacted to the shaky prospect of major producers being able to agree output cuts at a meeting on Wednesday.
MARKET NEWS
* The U.S. dollar took a breather on Tuesday as global bonds steadied from their recent rout, while equities flatlined as political risk resurfaced in Europe ahead of a referendum in Italy this weekend.
RELATED
> Trump faces dilemma as U.S. oil reels from record biofuels targets
> ndonesia to halt corn imports by 2018 at latest -minister
> OPEC experts end meeting, no agreement on detail
> U.S. says biofuels program not expected to meet targeted emissions
> Mexico certifies bidders for December deep water oil auctions
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Nov 1-25 palm oil export data on Nov 30.
> Cargo surveyor SGS releases Malaysia's Nov 1-25 palm oil export data on Nov 30.
Palm, soy and crude oil prices at 0036 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 MAY7 6316 +4.00 6280 6350 276978
CHINA SOYOIL MAY7 7200 +40.00 7132 7220 287300
CBOT SOY OIL JAN7 36.97 +8.10 0 0 0
INDIA PALM OIL NOV6 556.00 +8.10 550.30 556.8 354
INDIA SOYOIL DEC6 715.7 +5.90 713 721.2 34090
NYMEX CRUDE JAN7 46.85 -0.23 46.67 46.96 4008
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