MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Feb 17
VEGOILS-Market Factors to Watch Feb 17
17/02/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures fell to their lowest in nearly three months on Thursday evening, weighed down by expectations of rising output and tracking weaker performing rival oils.
* U.S. wheat and corn futures declined on Thursday, retreating from early strength on profit-taking after each market set multi-month highs, analysts said.
* Oil prices ended modestly higher on Thursday, as the market weighed swelling U.S. inventories against possible renewed efforts by major oil producers to reduce a price-sapping glut.
MARKET NEWS
* A gauge of major world equity markets inched higher to a record for a second straight day on Thursday, lifted by a round of global data, while a drop in the dollar helped boost U.S. bond prices.
RELATED
> EXCLUSIVE-OPEC could extend or deepen supply cut if oil glut persists - sources
> EXCLUSIVE-ConocoPhillips puts Canadian natgas assets on the block -sources
> EXCLUSIVE-India may cut potash subsidy in potential blow to demand
> Freeport Indonesia mine grinds to complete halt -union
> Japan feedmakers to tap corn stocks after U.S. supply disruption
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia’s Feb 1-20 palm oil export data on Feb 20.
> Cargo surveyor SGS releases Malaysia’s Feb 1-20 palm oil export data on Feb 20.
Palm, soy and crude oil prices at 0034 GMT
Contract Month Last Change Low High Volume
MY PALM OIL MAR7 0 +0.00 0 0 0
MY PALM OIL APR7 0 +0.00 0 0 0
MY PALM OIL MAY7 0 +0.00 0 0 0
CHINA PALM OLEIN MAY7 6028 -84.00 6010 6054 198708
CHINA SOYOIL MAY7 6810 -26.00 6768 6826 153744
CBOT SOY OIL MAR7 33.52 -8.30 0 0 0
INDIA PALM OIL FEB7 562.80 -8.30 561.30 570 1350
INDIA SOYOIL FEB7 680 -8.50 680 686.4 4090
NYMEX CRUDE MAR7 53.43 +0.07 53.37 53.48 1808
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 to their lowest in nearly three months on Thursday evening, weighed down by expectations of rising output and tracking weaker performing rival oils.
* U.S. wheat and corn futures declined on Thursday, retreating from early strength on profit-taking after each market set multi-month highs, analysts said.
* Oil prices ended modestly higher on Thursday, as the market weighed swelling U.S. inventories against possible renewed efforts by major oil producers to reduce a price-sapping glut.
MARKET NEWS
* A gauge of major world equity markets inched higher to a record for a second straight day on Thursday, lifted by a round of global data, while a drop in the dollar helped boost U.S. bond prices.
RELATED
> EXCLUSIVE-OPEC could extend or deepen supply cut if oil glut persists - sources
> EXCLUSIVE-ConocoPhillips puts Canadian natgas assets on the block -sources
> EXCLUSIVE-India may cut potash subsidy in potential blow to demand
> Freeport Indonesia mine grinds to complete halt -union
> Japan feedmakers to tap corn stocks after U.S. supply disruption
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia’s Feb 1-20 palm oil export data on Feb 20.
> Cargo surveyor SGS releases Malaysia’s Feb 1-20 palm oil export data on Feb 20.
Palm, soy and crude oil prices at 0034 GMT
Contract Month Last Change Low High Volume
MY PALM OIL MAR7 0 +0.00 0 0 0
MY PALM OIL APR7 0 +0.00 0 0 0
MY PALM OIL MAY7 0 +0.00 0 0 0
CHINA PALM OLEIN MAY7 6028 -84.00 6010 6054 198708
CHINA SOYOIL MAY7 6810 -26.00 6768 6826 153744
CBOT SOY OIL MAR7 33.52 -8.30 0 0 0
INDIA PALM OIL FEB7 562.80 -8.30 561.30 570 1350
INDIA SOYOIL FEB7 680 -8.50 680 686.4 4090
NYMEX CRUDE MAR7 53.43 +0.07 53.37 53.48 1808
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