MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Jan 20
VEGOILS-Market Factors to Watch Jan 20
20/01/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures fell for a second consecutive session on Thursday, hit by weaker U.S. soyoil and a failure to break the previous session's intraday high, dealers said, forecasting further range-bound trading, pending new leads.
* U.S. wheat futures fell nearly 2 percent on Thursday on profit-taking and expectations of slowing export demand in the wake of this week's rally to multi-month highs, analysts said.
* Oil prices edged higher on Thursday, but swelling U.S. crude stockpiles limited the rebound from a one-week low after the International Energy Agency said oil markets had been tightening even before cuts agreed by OPEC and other producers took effect.
MARKET NEWS
* The dollar and U.S. Treasury yields gained on Thursday after a batch of solid economic data, while Wall Street indexes slipped as investors held back a day ahead of the inauguration of President-elect Donald Trump.
RELATED
> OPEC output cuts under scrutiny as market tightens -IEA
> Reopened Libyan oil ports hope foreign staff will return to boost output
> New year, new cuts stir debate about China's steel, coal excess
> Argentine soy crop forecast cut to 52.9 mln tonnes
> IGC raises 2016/17 grains crop outlook, stocks to climb
> Farmers' reticence poses threat to USDA data objectivity -USDA study
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 0042 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 6316 +8.00 6294 6324 118514
CHINA SOYOIL MAY7 7030 +2.00 7002 7036 82482
CBOT SOY OIL MAR7 35.44 -2.40 0 0 0
INDIA PALM OIL JAN7 592.90 -2.40 591.20 595.7 949
INDIA SOYOIL JAN7 733 -0.25 732.7 734 1780
NYMEX CRUDE FEB7 51.57 +0.20 51.45 51.57 464
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 for a second consecutive session on Thursday, hit by weaker U.S. soyoil and a failure to break the previous session's intraday high, dealers said, forecasting further range-bound trading, pending new leads.
* U.S. wheat futures fell nearly 2 percent on Thursday on profit-taking and expectations of slowing export demand in the wake of this week's rally to multi-month highs, analysts said.
* Oil prices edged higher on Thursday, but swelling U.S. crude stockpiles limited the rebound from a one-week low after the International Energy Agency said oil markets had been tightening even before cuts agreed by OPEC and other producers took effect.
MARKET NEWS
* The dollar and U.S. Treasury yields gained on Thursday after a batch of solid economic data, while Wall Street indexes slipped as investors held back a day ahead of the inauguration of President-elect Donald Trump.
RELATED
> OPEC output cuts under scrutiny as market tightens -IEA
> Reopened Libyan oil ports hope foreign staff will return to boost output
> New year, new cuts stir debate about China's steel, coal excess
> Argentine soy crop forecast cut to 52.9 mln tonnes
> IGC raises 2016/17 grains crop outlook, stocks to climb
> Farmers' reticence poses threat to USDA data objectivity -USDA study
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 0042 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 6316 +8.00 6294 6324 118514
CHINA SOYOIL MAY7 7030 +2.00 7002 7036 82482
CBOT SOY OIL MAR7 35.44 -2.40 0 0 0
INDIA PALM OIL JAN7 592.90 -2.40 591.20 595.7 949
INDIA SOYOIL JAN7 733 -0.25 732.7 734 1780
NYMEX CRUDE FEB7 51.57 +0.20 51.45 51.57 464
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