MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Dec 14
VEGOILS-Market Factors to Watch Dec 14
14/12/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures ended three losing sessions to gain in late trade on declining output. They fell to their lowest in two weeks earlier in the day on slow export demand and as they tracked weaker-performing rival oils.
* Chicago Board of Trade corn futures rose to a five-month high on Tuesday, with strong exports and technical buying supporting prices, traders said.
* Oil prices edged off earlier gains to end Tuesday nearly unchanged, as the support from OPEC's plan to limit production were undercut by an energy watchdog's assessment of how much those nations are currently producing.
MARKET NEWS
* Asia shares trailed Wall Street higher on Wednesday while the U.S. dollar held steady, with markets certain the Federal Reserve will raise rates for the first time in a year but less sure what it might signal for policy in 2017.
RELATED
> China soymeal futures hits 5-mth high on talk of crackdown
> Indonesia's Oct palm, palm kernel oil exports surge nearly 40 pct m/m - assoc
> S.Korea buys 30,000 T soybean for 2018, to reissue tender to buy 140,000 T
> France sees 2017 wheat area stable; barley, rapeseed sharply down
> Oil demand to grow more swiftly, too early to assess global output cut
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.
FUNDAMENTALS
* Malaysian palm oil futures ended three losing sessions to gain in late trade on declining output. They fell to their lowest in two weeks earlier in the day on slow export demand and as they tracked weaker-performing rival oils.
* Chicago Board of Trade corn futures rose to a five-month high on Tuesday, with strong exports and technical buying supporting prices, traders said.
* Oil prices edged off earlier gains to end Tuesday nearly unchanged, as the support from OPEC's plan to limit production were undercut by an energy watchdog's assessment of how much those nations are currently producing.
MARKET NEWS
* Asia shares trailed Wall Street higher on Wednesday while the U.S. dollar held steady, with markets certain the Federal Reserve will raise rates for the first time in a year but less sure what it might signal for policy in 2017.
RELATED
> China soymeal futures hits 5-mth high on talk of crackdown
> Indonesia's Oct palm, palm kernel oil exports surge nearly 40 pct m/m - assoc
> S.Korea buys 30,000 T soybean for 2018, to reissue tender to buy 140,000 T
> France sees 2017 wheat area stable; barley, rapeseed sharply down
> Oil demand to grow more swiftly, too early to assess global output cut
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.