MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Dec 30
VEGOILS-Market Factors to Watch Dec 30
30/12/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures eased on Thursday, dipping after two sessions of gains on year-end profit-taking and in line with declines in rival soyoil.
* U.S. wheat futures rose about 1 percent on Thursday, supported by short-covering and a setback in the dollar, which tends to make U.S. grains more attractive to those holding other currencies, traders said.
* Oil futures dipped on Thursday after a surprise build in U.S. crude inventories reversed an advance in prices that had boosted the benchmarks to their highest levels since July last year.
MARKET NEWS
* U.S. and European shares, the dollar and bond yields all headed lower on Thursday, with traders using the quiet holiday period to book some profits on the heady gains stocks have seen in the final quarter of 2016 and reposition for the year ahead.
RELATED
> Argentina soy oil output grows 8.5 pct y/y from Jan-Nov
> Traders expect light CBOT January soy deliveries
> Argentina 2016/17 wheat harvest seen at 15 mln tonnes -exchange
> China aims to boost farmland by 2020 in food security push
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 0045 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 6192 -48.00 6186 6276 243616
CHINA SOYOIL MAY7 6972 -22.00 6964 7038 140752
CBOT SOY OIL MAR7 34.79 +3.40 0 0 0
INDIA PALM OIL DEC6 582.60 +3.40 578.10 583.5 321
INDIA SOYOIL JAN7 717 +2.15 714.6 719 20320
NYMEX CRUDE FEB7 53.95 +0.18 53.81 53.98 2761
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 eased on Thursday, dipping after two sessions of gains on year-end profit-taking and in line with declines in rival soyoil.
* U.S. wheat futures rose about 1 percent on Thursday, supported by short-covering and a setback in the dollar, which tends to make U.S. grains more attractive to those holding other currencies, traders said.
* Oil futures dipped on Thursday after a surprise build in U.S. crude inventories reversed an advance in prices that had boosted the benchmarks to their highest levels since July last year.
MARKET NEWS
* U.S. and European shares, the dollar and bond yields all headed lower on Thursday, with traders using the quiet holiday period to book some profits on the heady gains stocks have seen in the final quarter of 2016 and reposition for the year ahead.
RELATED
> Argentina soy oil output grows 8.5 pct y/y from Jan-Nov
> Traders expect light CBOT January soy deliveries
> Argentina 2016/17 wheat harvest seen at 15 mln tonnes -exchange
> China aims to boost farmland by 2020 in food security push
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 0045 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 6192 -48.00 6186 6276 243616
CHINA SOYOIL MAY7 6972 -22.00 6964 7038 140752
CBOT SOY OIL MAR7 34.79 +3.40 0 0 0
INDIA PALM OIL DEC6 582.60 +3.40 578.10 583.5 321
INDIA SOYOIL JAN7 717 +2.15 714.6 719 20320
NYMEX CRUDE FEB7 53.95 +0.18 53.81 53.98 2761
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