MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Jan 9
VEGOILS-Market Factors to Watch Jan 9
09/01/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures saw a third straight session of declines on Friday evening, hitting their lowest in two weeks, as weaker performing rival oils and a stronger ringgit weighed on prices.
* Chicago Board of Trade corn and soybean futures fell on Friday on signs of weakening demand for U.S. exports as the South American harvest nears, traders said.
* Oil prices fell early on Monday as Iran increased exports undermining efforts by other oil producers to curb a global fuel supply overhang and as U.S. drillers increased activity for a 10th week.
MARKET NEWS
* Asian stocks are poised to rise on Monday and the dollar firmed against a basket of currencies after the latest payrolls data highlighted U.S. jobs and wages growth.
RELATED
> Weak U.S. soy export sales fuel fears of demand slowdown
> USDA switches destinations for U.S. soy to China, other buyers
> Informa lowers Argentine corn, soy forecasts; raises wheat -trade
> POLL-Brazil's soybean crop seen at 103.5 mln tonnes as harvest begins
> GRAINS-Wheat again firm on fund rebalancing, weather worries
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 0128 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 6072 -56.00 6064 6114 238370
CHINA SOYOIL MAY7 6786 -66.00 6784 6834 192710
CBOT SOY OIL MAR7 34.95 -1.90 34.89 35.11 1174
INDIA PALM OIL JAN7 582.00 -1.90 577.90 583.5 2135
INDIA SOYOIL JAN7 726 -2.40 724.1 728 8910
NYMEX CRUDE FEB7 53.73 -0.26 53.69 53.83 4048
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 saw a third straight session of declines on Friday evening, hitting their lowest in two weeks, as weaker performing rival oils and a stronger ringgit weighed on prices.
* Chicago Board of Trade corn and soybean futures fell on Friday on signs of weakening demand for U.S. exports as the South American harvest nears, traders said.
* Oil prices fell early on Monday as Iran increased exports undermining efforts by other oil producers to curb a global fuel supply overhang and as U.S. drillers increased activity for a 10th week.
MARKET NEWS
* Asian stocks are poised to rise on Monday and the dollar firmed against a basket of currencies after the latest payrolls data highlighted U.S. jobs and wages growth.
RELATED
> Weak U.S. soy export sales fuel fears of demand slowdown
> USDA switches destinations for U.S. soy to China, other buyers
> Informa lowers Argentine corn, soy forecasts; raises wheat -trade
> POLL-Brazil's soybean crop seen at 103.5 mln tonnes as harvest begins
> GRAINS-Wheat again firm on fund rebalancing, weather worries
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 0128 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 6072 -56.00 6064 6114 238370
CHINA SOYOIL MAY7 6786 -66.00 6784 6834 192710
CBOT SOY OIL MAR7 34.95 -1.90 34.89 35.11 1174
INDIA PALM OIL JAN7 582.00 -1.90 577.90 583.5 2135
INDIA SOYOIL JAN7 726 -2.40 724.1 728 8910
NYMEX CRUDE FEB7 53.73 -0.26 53.69 53.83 4048
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