MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Jan 5
VEGOILS-Market Factors to Watch Jan 5
05/01/2017 (Reuters) -The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures fell on Wednesday evening after two sessions of gains, tracking weaker rival oilseed soy, though tight supplies because of lower output curbed further losses.
* U.S. soybean futures rose 1.9 percent on Wednesday on a round of bargain buying following three straight days of declines that pushed the benchmark contract to its lowest since mid-November, traders said.
* Oil prices rose nearly 2 percent on Wednesday on expectations U.S. crude inventories have dropped and on signs that the world's top oil exporters will stick to agreed output cuts that took effect this week.
MARKET NEWS
* Asian stocks edged higher on Thursday, underpinned by a firm Wall Street after minutes from the Federal Reserve's December meeting suggested a less hawkish stance from policymakers.
RELATED
> Egypt to buy local wheat crop at global prices in coming season
> Argentina soy, corn sowing held back by recent downpours
> Vitol clinches $1 bln pre-finance oil deal with Iran-sources
> New Lebanese govt OKs oil decrees to start stalled tender process
> China suspends 11 researchers's licenses for GMO testing violations - ministry
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Dec 1-31 palm oil export data on Jan 10.
> Cargo surveyor SGS releases Malaysia's Dec 1-31 palm oil export data on Jan 10.
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 6178 -34.00 6146 6196 202792
CHINA SOYOIL MAY7 6902 +4.00 6860 6910 143948
CBOT SOY OIL MAR7 35.21 +6.60 0 0 0
INDIA PALM OIL JAN7 588.10 +6.60 578.50 589 1235
INDIA SOYOIL JAN7 731.5 +4.90 724.6 731.7 14790
NYMEX CRUDE FEB7 53.26 +0.00 53.23 53.42 4454
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 fell on Wednesday evening after two sessions of gains, tracking weaker rival oilseed soy, though tight supplies because of lower output curbed further losses.
* U.S. soybean futures rose 1.9 percent on Wednesday on a round of bargain buying following three straight days of declines that pushed the benchmark contract to its lowest since mid-November, traders said.
* Oil prices rose nearly 2 percent on Wednesday on expectations U.S. crude inventories have dropped and on signs that the world's top oil exporters will stick to agreed output cuts that took effect this week.
MARKET NEWS
* Asian stocks edged higher on Thursday, underpinned by a firm Wall Street after minutes from the Federal Reserve's December meeting suggested a less hawkish stance from policymakers.
RELATED
> Egypt to buy local wheat crop at global prices in coming season
> Argentina soy, corn sowing held back by recent downpours
> Vitol clinches $1 bln pre-finance oil deal with Iran-sources
> New Lebanese govt OKs oil decrees to start stalled tender process
> China suspends 11 researchers's licenses for GMO testing violations - ministry
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Dec 1-31 palm oil export data on Jan 10.
> Cargo surveyor SGS releases Malaysia's Dec 1-31 palm oil export data on Jan 10.
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 6178 -34.00 6146 6196 202792
CHINA SOYOIL MAY7 6902 +4.00 6860 6910 143948
CBOT SOY OIL MAR7 35.21 +6.60 0 0 0
INDIA PALM OIL JAN7 588.10 +6.60 578.50 589 1235
INDIA SOYOIL JAN7 731.5 +4.90 724.6 731.7 14790
NYMEX CRUDE FEB7 53.26 +0.00 53.23 53.42 4454
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