MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Jan 25
VEGOILS-Market Factors to Watch Jan 25
25/01/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures gained the most in three weeks on Tuesday, ending a four-session losing streak as they tracked strong related oils on China's Dalian Commodity Exchange and on expectations of lower January output.
* U.S. corn futures fell nearly 2 percent on Tuesday on profit-taking after hitting multi-month highs and uncertainty about how U.S. trade policy will affect grain exports, analysts said.
* Oil edged lower on Wednesday, snapping four sessions of gains as an increase in U.S. inventories weighed on the market, offsetting bullish momentum from production cuts announced by OPEC and other producers.
MARKET NEWS
* Asian stocks are set to climb to fresh three-month highs on Wednesday following a stronger Wall Street as investors welcomed U.S. President Donald Trump's eagerness to deliver on his campaign promises.
RELATED
> Struggling U.S. farm sector faces new threat as TPP dies
> In Trump freeze, U.S. agencies delay rules affecting farm towns
> Saudi oil output, exports to drop in January
> DuPont expects Dow merger to close later than expected
> Key Argentina soy area still coping with late 2016 floods
> Trump administration seeks to muzzle U.S. agency employees
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Jan 1-25 palm oil export data on Jan 25.
> Cargo surveyor SGS releases Malaysia's Jan 1-25 palm oil export data on Jan 25.
Palm, soy and crude oil prices at 0048 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 6350 +20.00 6338 6382 125728
CHINA SOYOIL MAY7 7034 +12.00 7028 7072 72100
CBOT SOY OIL MAR7 35.28 +6.40 0 0 0
INDIA PALM OIL JAN7 597.90 +6.40 594.10 599.7 1171
INDIA SOYOIL FEB7 718.4 +0.55 717.2 720.5 13910
NYMEX CRUDE MAR7 53.00 -0.18 52.90 53.03 2848
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 gained the most in three weeks on Tuesday, ending a four-session losing streak as they tracked strong related oils on China's Dalian Commodity Exchange and on expectations of lower January output.
* U.S. corn futures fell nearly 2 percent on Tuesday on profit-taking after hitting multi-month highs and uncertainty about how U.S. trade policy will affect grain exports, analysts said.
* Oil edged lower on Wednesday, snapping four sessions of gains as an increase in U.S. inventories weighed on the market, offsetting bullish momentum from production cuts announced by OPEC and other producers.
MARKET NEWS
* Asian stocks are set to climb to fresh three-month highs on Wednesday following a stronger Wall Street as investors welcomed U.S. President Donald Trump's eagerness to deliver on his campaign promises.
RELATED
> Struggling U.S. farm sector faces new threat as TPP dies
> In Trump freeze, U.S. agencies delay rules affecting farm towns
> Saudi oil output, exports to drop in January
> DuPont expects Dow merger to close later than expected
> Key Argentina soy area still coping with late 2016 floods
> Trump administration seeks to muzzle U.S. agency employees
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Jan 1-25 palm oil export data on Jan 25.
> Cargo surveyor SGS releases Malaysia's Jan 1-25 palm oil export data on Jan 25.
Palm, soy and crude oil prices at 0048 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 6350 +20.00 6338 6382 125728
CHINA SOYOIL MAY7 7034 +12.00 7028 7072 72100
CBOT SOY OIL MAR7 35.28 +6.40 0 0 0
INDIA PALM OIL JAN7 597.90 +6.40 594.10 599.7 1171
INDIA SOYOIL FEB7 718.4 +0.55 717.2 720.5 13910
NYMEX CRUDE MAR7 53.00 -0.18 52.90 53.03 2848
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