MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Jan 27
VEGOILS-Market Factors to Watch Jan 27
27/01/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures fell on Thursday evening in their sharpest daily drop in three weeks, recording a second straight day of losses as traders booked profits ahead of the long break for the Lunar New Year holidays.
* U.S. soybean and corn futures closed lower Thursday on improving South American crop prospects and jitters about U.S. trade relationships, analysts said.
* Oil prices jumped 2 percent on Thursday, boosted by the ongoing rally in the U.S. stock market, although gains in crude futures were capped by heavy inventories in spite of efforts by producers to cut output.
MARKET NEWS
* A key index of global equity markets held near a record high on Thursday supported by mergers and acquisitions, strong corporate earnings and investor optimism spurred by U.S. President Donald Trump's plans for public spending.
RELATED
> With plastic bags and plates, China tries to cure its corn hangover
> Proliferation of bird flu outbreaks raises risk of human pandemic
> Trump names Cheryl LaFleur acting chairman of FERC
> Syria's million-tonne Russian wheat deal in jeopardy
> Dow Chemical's results, forecast benefit as economic growth boosts demand
> As crude prices rise, China's oil majors set to lift capex for first time in years
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Jan 1-30 palm oil export data on Jan 31.
> Cargo surveyor SGS releases Malaysia's Jan 1-30 palm oil export data on Jan 31.
Palm, soy and crude oil prices at 0041 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 0 +0.00 0 0 0
CHINA SOYOIL MAY7 0 +0.00 0 0 0
CBOT SOY OIL MAR7 34.47 -0.10 0 0 0
INDIA PALM OIL JAN7 597.00 -0.10 594.10 598.1 749
INDIA SOYOIL FEB7 716.75 -1.35 712.3 718.3 17920
NYMEX CRUDE MAR7 53.71 -0.07 53.70 53.79 1874
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 Thursday evening in their sharpest daily drop in three weeks, recording a second straight day of losses as traders booked profits ahead of the long break for the Lunar New Year holidays.
* U.S. soybean and corn futures closed lower Thursday on improving South American crop prospects and jitters about U.S. trade relationships, analysts said.
* Oil prices jumped 2 percent on Thursday, boosted by the ongoing rally in the U.S. stock market, although gains in crude futures were capped by heavy inventories in spite of efforts by producers to cut output.
MARKET NEWS
* A key index of global equity markets held near a record high on Thursday supported by mergers and acquisitions, strong corporate earnings and investor optimism spurred by U.S. President Donald Trump's plans for public spending.
RELATED
> With plastic bags and plates, China tries to cure its corn hangover
> Proliferation of bird flu outbreaks raises risk of human pandemic
> Trump names Cheryl LaFleur acting chairman of FERC
> Syria's million-tonne Russian wheat deal in jeopardy
> Dow Chemical's results, forecast benefit as economic growth boosts demand
> As crude prices rise, China's oil majors set to lift capex for first time in years
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Jan 1-30 palm oil export data on Jan 31.
> Cargo surveyor SGS releases Malaysia's Jan 1-30 palm oil export data on Jan 31.
Palm, soy and crude oil prices at 0041 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 0 +0.00 0 0 0
CHINA SOYOIL MAY7 0 +0.00 0 0 0
CBOT SOY OIL MAR7 34.47 -0.10 0 0 0
INDIA PALM OIL JAN7 597.00 -0.10 594.10 598.1 749
INDIA SOYOIL FEB7 716.75 -1.35 712.3 718.3 17920
NYMEX CRUDE MAR7 53.71 -0.07 53.70 53.79 1874
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