MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Feb 8
VEGOILS-Market Factors to Watch Feb 8
08/02/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures climbed on Tuesday, securing a second consecutive session of gains as the market remained buoyant on expectations of tighter supplies.
* U.S. soybean futures rose on Tuesday on continued strong export demand as overseas buyers waited for the bulk of the expected bumper South America harvest to come online, traders said.
* Oil prices that tumbled more than 1 percent Tuesday fell further after settlement, pressured by growing crude stockpiles in the United States as evidence of a burgeoning revival in U.S. shale production could complicate efforts by OPEC and other producers to reduce a supply glut.
MARKET NEWS
* Asian shares dipped from four-month highs on Wednesday and the euro was pressured as lingering political and economic uncertainty in the United States and Europe sapped investor confidence.
RELATED
> ADM expects lift from Trump reforms, downplays trade concern
> COLUMN-Brazilian soy shippers may be heading for a record February -Braun
> China speculators pile into corn as iron ore, steel lose shine
> GRAINS-U.S. soy rises as China trading resumes; wheat drops after rally
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia’s Feb 1-10 palm oil export data on Feb 10.
> Cargo surveyor SGS releases Malaysia’s Feb 1-10 palm oil export data on Feb 10.
Palm, soy and crude oil prices at 0052 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 6188 +38.00 6118 6196 222484
CHINA SOYOIL MAY7 6876 +8.00 6832 6884 110166
CBOT SOY OIL MAR7 34.3 +0.00 0 0 0
INDIA PALM OIL FEB7 578.50 +0.00 577.10 580 847
INDIA SOYOIL FEB7 701.35 -1.15 700.7 705.5 12260
NYMEX CRUDE MAR7 51.40 -0.77 51.22 51.66 16042
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 climbed on Tuesday, securing a second consecutive session of gains as the market remained buoyant on expectations of tighter supplies.
* U.S. soybean futures rose on Tuesday on continued strong export demand as overseas buyers waited for the bulk of the expected bumper South America harvest to come online, traders said.
* Oil prices that tumbled more than 1 percent Tuesday fell further after settlement, pressured by growing crude stockpiles in the United States as evidence of a burgeoning revival in U.S. shale production could complicate efforts by OPEC and other producers to reduce a supply glut.
MARKET NEWS
* Asian shares dipped from four-month highs on Wednesday and the euro was pressured as lingering political and economic uncertainty in the United States and Europe sapped investor confidence.
RELATED
> ADM expects lift from Trump reforms, downplays trade concern
> COLUMN-Brazilian soy shippers may be heading for a record February -Braun
> China speculators pile into corn as iron ore, steel lose shine
> GRAINS-U.S. soy rises as China trading resumes; wheat drops after rally
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia’s Feb 1-10 palm oil export data on Feb 10.
> Cargo surveyor SGS releases Malaysia’s Feb 1-10 palm oil export data on Feb 10.
Palm, soy and crude oil prices at 0052 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 6188 +38.00 6118 6196 222484
CHINA SOYOIL MAY7 6876 +8.00 6832 6884 110166
CBOT SOY OIL MAR7 34.3 +0.00 0 0 0
INDIA PALM OIL FEB7 578.50 +0.00 577.10 580 847
INDIA SOYOIL FEB7 701.35 -1.15 700.7 705.5 12260
NYMEX CRUDE MAR7 51.40 -0.77 51.22 51.66 16042
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