MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Dec 28
VEGOILS-Market Factors to Watch Dec 28
28/12/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil gained 2.2 percent by the end of Tuesday's trading day, buoyed by data showing a slower decline in exports and improved sentiment for rival oils on Dalian and CBOT.
* U.S. wheat and corn futures climbed to one-week highs on Tuesday and soybeans firmed on bargain-buying and short-covering after last week's declines, analysts said.
* Oil gained 1.5 percent Tuesday, continuing its year-end rally with support from expectations of tighter supply once the first output cut deal between OPEC and non-OPEC producers in 15 years takes effect on Sunday.
MARKET NEWS
* Asia stocks followed Wall Street higher early on Wednesday, while the dollar firmed against major peers such as the yen following the release of upbeat U.S. economic data overnight.
RELATED
> Malaysia's Felda faces criticism over 'expensive' Indonesian palm deal
> Funds net buyers of CBOT soybeans, corn, wheat
> Rains in Argentina miss southeast Buenos Aires soy areas
> Argentina biodiesel output to hit record 2.7 mln tonnes in 2016
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Dec 1-31 palm oil export data on Dec 31.
> Cargo surveyor SGS releases Malaysia's Dec 1-31 palm oil export data on Dec 31.
Palm, soy and crude oil prices at 0036 GMT
Contract Month Last Change Low High Volume
MY PALM OIL JAN7 0 +0.00 0 0 0
MY PALM OIL FEB7 0 +0.00 0 0 0
MY PALM OIL MAR7 0 +0.00 0 0 0
CHINA PALM OLEIN MAY7 6284 +108.00 6234 6294 297992
CHINA SOYOIL MAY7 7036 +108.00 6980 7048 197132
CBOT SOY OIL MAR7 35.4 +8.00 0 0 0
INDIA PALM OIL DEC6 577.30 +8.00 570.50 577.4 439
INDIA SOYOIL JAN7 717.4 +4.55 714.95 719.8 26100
NYMEX CRUDE FEB7 53.81 -0.09 53.76 53.93 2493
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 gained 2.2 percent by the end of Tuesday's trading day, buoyed by data showing a slower decline in exports and improved sentiment for rival oils on Dalian and CBOT.
* U.S. wheat and corn futures climbed to one-week highs on Tuesday and soybeans firmed on bargain-buying and short-covering after last week's declines, analysts said.
* Oil gained 1.5 percent Tuesday, continuing its year-end rally with support from expectations of tighter supply once the first output cut deal between OPEC and non-OPEC producers in 15 years takes effect on Sunday.
MARKET NEWS
* Asia stocks followed Wall Street higher early on Wednesday, while the dollar firmed against major peers such as the yen following the release of upbeat U.S. economic data overnight.
RELATED
> Malaysia's Felda faces criticism over 'expensive' Indonesian palm deal
> Funds net buyers of CBOT soybeans, corn, wheat
> Rains in Argentina miss southeast Buenos Aires soy areas
> Argentina biodiesel output to hit record 2.7 mln tonnes in 2016
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Dec 1-31 palm oil export data on Dec 31.
> Cargo surveyor SGS releases Malaysia's Dec 1-31 palm oil export data on Dec 31.
Palm, soy and crude oil prices at 0036 GMT
Contract Month Last Change Low High Volume
MY PALM OIL JAN7 0 +0.00 0 0 0
MY PALM OIL FEB7 0 +0.00 0 0 0
MY PALM OIL MAR7 0 +0.00 0 0 0
CHINA PALM OLEIN MAY7 6284 +108.00 6234 6294 297992
CHINA SOYOIL MAY7 7036 +108.00 6980 7048 197132
CBOT SOY OIL MAR7 35.4 +8.00 0 0 0
INDIA PALM OIL DEC6 577.30 +8.00 570.50 577.4 439
INDIA SOYOIL JAN7 717.4 +4.55 714.95 719.8 26100
NYMEX CRUDE FEB7 53.81 -0.09 53.76 53.93 2493
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