MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Dec 5
VEGOILS-Market Factors to Watch Dec 5
05/12/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm futures hit their highest in more than four years on Friday before easing to close in negative territory on weakness in related oils and a stronger ringgit.
* U.S. corn and wheat futures firmed on Friday on bargain-buying a day after falling to multi-month lows, but both grains posted weekly declines reflecting swelling global supplies.
* Oil prices rallied for their best week in at least five years on Friday, steadying above $51 a barrel, following OPEC's decision to cut crude output to rein in a global glut that has weighed on prices for more than two years.
MARKET NEWS
* The euro sank to 20-months lows in Asia on Monday after Italian Prime Minister Matteo Renzi said he would resign in the wake of a stinging defeat on constitutional reform that could destabilise the country's shaky banking system.
RELATED
> OPEC to meet non-OPEC producers on Dec. 10 in Moscow -sources
> Ahead of promised cut, Russia's oil output hits record high
> China to add more commodity futures, options products - regulator
> Speculators up record cotton net long stance -CFTC
> Germany detects H5N1 bird flu on poultry farm in Brandenburg
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Nov 1-25 palm oil export data on Dec 10.
> Cargo surveyor SGS releases Malaysia's Nov 1-25 palm oil export data on Dec 10.
Palm, soy and crude oil prices at 0047 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 6286 -4.00 6284 6354 320214
CHINA SOYOIL MAY7 7136 -32.00 7128 7218 268900
CBOT SOY OIL JAN7 37.72 -4.20 0 0 0
INDIA PALM OIL DEC6 553.10 -4.20 551.50 561.9 1676
INDIA SOYOIL DEC6 731.75 +1.30 730 735.5 19340
NYMEX CRUDE JAN7 51.29 -0.39 51.15 51.64 12716
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 hit their highest in more than four years on Friday before easing to close in negative territory on weakness in related oils and a stronger ringgit.
* U.S. corn and wheat futures firmed on Friday on bargain-buying a day after falling to multi-month lows, but both grains posted weekly declines reflecting swelling global supplies.
* Oil prices rallied for their best week in at least five years on Friday, steadying above $51 a barrel, following OPEC's decision to cut crude output to rein in a global glut that has weighed on prices for more than two years.
MARKET NEWS
* The euro sank to 20-months lows in Asia on Monday after Italian Prime Minister Matteo Renzi said he would resign in the wake of a stinging defeat on constitutional reform that could destabilise the country's shaky banking system.
RELATED
> OPEC to meet non-OPEC producers on Dec. 10 in Moscow -sources
> Ahead of promised cut, Russia's oil output hits record high
> China to add more commodity futures, options products - regulator
> Speculators up record cotton net long stance -CFTC
> Germany detects H5N1 bird flu on poultry farm in Brandenburg
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Nov 1-25 palm oil export data on Dec 10.
> Cargo surveyor SGS releases Malaysia's Nov 1-25 palm oil export data on Dec 10.
Palm, soy and crude oil prices at 0047 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 6286 -4.00 6284 6354 320214
CHINA SOYOIL MAY7 7136 -32.00 7128 7218 268900
CBOT SOY OIL JAN7 37.72 -4.20 0 0 0
INDIA PALM OIL DEC6 553.10 -4.20 551.50 561.9 1676
INDIA SOYOIL DEC6 731.75 +1.30 730 735.5 19340
NYMEX CRUDE JAN7 51.29 -0.39 51.15 51.64 12716
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