MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Dec 15
VEGOILS-Market Factors to Watch Dec 15
15/12/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures rose for a second consecutive session on Wednesday after closely watched output and export data released during the midday break supported bullish sentiment.
* U.S. soybean futures fell to a three-week low on Wednesday as forecasts for rain in dry areas of Argentina's crop belt took out some of the weather premium built into the market, traders said.
* Oil prices slid more than 3 percent on Wednesday as the dollar jumped after the U.S. Federal Reserve's decision to hike U.S. interest rates and after a jump in crude inventories at the biggest U.S. storage center renewed concerns about a glut.
MARKET NEWS
* Asian markets were set for a rough ride on Thursday after the Federal Reserve raised rates for the first time in a year and hinted at the risk of a faster pace of tightening than investors were positioned for.
RELATED
> CBOT ethanol futures sag on record-high weekly U.S. output
> Soybeans fall on Argentine rain view; corn, wheat dip
> Russia says grain export capacity up ninefold in last 14 years
> COLUMN-Why are soybean futures above $10? -Braun
> China's cornbelt province relaxes truck rules to ease grain backlog
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Dec 1-15 palm oil export data on Dec 15.
> Cargo surveyor SGS releases Malaysia's Dec 1-15 palm oil export data on Dec 15.
Palm, soy and crude oil prices at 0001 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 6300 +10.00 6240 6308 234782
CHINA SOYOIL MAY7 7090 -36.00 7050 7116 199576
CBOT SOY OIL JAN7 36.92 +2.50 0 0 0
INDIA PALM OIL DEC6 564.50 +2.50 563.00 568.4 1449
INDIA SOYOIL DEC6 728 +2.45 726.35 730.05 2930
NYMEX CRUDE JAN7 50.84 -0.20 50.76 50.89 2411
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 for a second consecutive session on Wednesday after closely watched output and export data released during the midday break supported bullish sentiment.
* U.S. soybean futures fell to a three-week low on Wednesday as forecasts for rain in dry areas of Argentina's crop belt took out some of the weather premium built into the market, traders said.
* Oil prices slid more than 3 percent on Wednesday as the dollar jumped after the U.S. Federal Reserve's decision to hike U.S. interest rates and after a jump in crude inventories at the biggest U.S. storage center renewed concerns about a glut.
MARKET NEWS
* Asian markets were set for a rough ride on Thursday after the Federal Reserve raised rates for the first time in a year and hinted at the risk of a faster pace of tightening than investors were positioned for.
RELATED
> CBOT ethanol futures sag on record-high weekly U.S. output
> Soybeans fall on Argentine rain view; corn, wheat dip
> Russia says grain export capacity up ninefold in last 14 years
> COLUMN-Why are soybean futures above $10? -Braun
> China's cornbelt province relaxes truck rules to ease grain backlog
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Dec 1-15 palm oil export data on Dec 15.
> Cargo surveyor SGS releases Malaysia's Dec 1-15 palm oil export data on Dec 15.
Palm, soy and crude oil prices at 0001 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 6300 +10.00 6240 6308 234782
CHINA SOYOIL MAY7 7090 -36.00 7050 7116 199576
CBOT SOY OIL JAN7 36.92 +2.50 0 0 0
INDIA PALM OIL DEC6 564.50 +2.50 563.00 568.4 1449
INDIA SOYOIL DEC6 728 +2.45 726.35 730.05 2930
NYMEX CRUDE JAN7 50.84 -0.20 50.76 50.89 2411
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