MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Jan 17
VEGOILS-Market Factors to Watch Jan 17
17/01/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures rose on Monday, helped by improving export demand and strong commodity prices due to tight supplies, traders said.
* U.S. soybean futures rose on Friday on follow-through buying on the U.S. Agriculture Department's surprise cut to its domestic production estimate and ending stocks on Thursday, traders said.
* Oil prices settled up on Monday, as Saudi Arabia's commitments to reducing production offset a report forecasting U.S. output would again rise this year.
MARKET NEWS
* Asian stocks and the pound sagged on Tuesday ahead of a speech by British Prime Minister Theresa May that could have implications for broader risk sentiment.
RELATED
> Saudi pledges adherence to oil cut, confident others will
> Noble Energy to buy Clayton Williams Energy for $2.7 bln
> China's Sinochem chief dismisses ChemChina merger reports as "rumour"
> China cancels ethanol imports as tax hike threatens trade
> Trucker protest continues in Brazil's top grain state
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Jan 1-20 palm oil export data on Jan 20.
> Cargo surveyor SGS releases Malaysia's Jan 1-20 palm oil export data on Jan 20.
Palm, soy and crude oil prices at 0044 GMT
Contract Month Last Change Low High Volume
MY PALM OIL FEB7 0 +0.00 0 0 0
MY PALM OIL MAR7 0 +0.00 0 0 0
MY PALM OIL APR7 0 +0.00 0 0 0
CHINA PALM OLEIN MAY7 6330 +24.00 6310 6348 132366
CHINA SOYOIL MAY7 7016 +48.00 6992 7034 96438
CBOT SOY OIL MAR7 35.6 +2.30 0 0 0
INDIA PALM OIL JAN7 591.20 +2.30 589.10 591.8 719
INDIA SOYOIL JAN7 730.8 +0.30 730 732.9 5920
NYMEX CRUDE FEB7 52.51 +0.14 52.12 52.72 126018
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 rose on Monday, helped by improving export demand and strong commodity prices due to tight supplies, traders said.
* U.S. soybean futures rose on Friday on follow-through buying on the U.S. Agriculture Department's surprise cut to its domestic production estimate and ending stocks on Thursday, traders said.
* Oil prices settled up on Monday, as Saudi Arabia's commitments to reducing production offset a report forecasting U.S. output would again rise this year.
MARKET NEWS
* Asian stocks and the pound sagged on Tuesday ahead of a speech by British Prime Minister Theresa May that could have implications for broader risk sentiment.
RELATED
> Saudi pledges adherence to oil cut, confident others will
> Noble Energy to buy Clayton Williams Energy for $2.7 bln
> China's Sinochem chief dismisses ChemChina merger reports as "rumour"
> China cancels ethanol imports as tax hike threatens trade
> Trucker protest continues in Brazil's top grain state
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Jan 1-20 palm oil export data on Jan 20.
> Cargo surveyor SGS releases Malaysia's Jan 1-20 palm oil export data on Jan 20.
Palm, soy and crude oil prices at 0044 GMT
Contract Month Last Change Low High Volume
MY PALM OIL FEB7 0 +0.00 0 0 0
MY PALM OIL MAR7 0 +0.00 0 0 0
MY PALM OIL APR7 0 +0.00 0 0 0
CHINA PALM OLEIN MAY7 6330 +24.00 6310 6348 132366
CHINA SOYOIL MAY7 7016 +48.00 6992 7034 96438
CBOT SOY OIL MAR7 35.6 +2.30 0 0 0
INDIA PALM OIL JAN7 591.20 +2.30 589.10 591.8 719
INDIA SOYOIL JAN7 730.8 +0.30 730 732.9 5920
NYMEX CRUDE FEB7 52.51 +0.14 52.12 52.72 126018
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