MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Dec 15
VEGOILS-Market Factors to Watch Dec 15
15/12/2014 (Reuters) - The following factors are likely to influence Malaysian palm oil futures andother vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures dropped on Friday, tracking falls in crude oilprices and competing vegetable oil markets, although losses were limited byconcerns that monsoon rains could curb output in December.
* U.S. corn futures surged more than 2 percent on Friday, with the benchmarkcontract rising above $4 a bushel to its highest in nearly five months, fueledby technical buying and heavy buying by commodity funds.
* Brent crude futures fell as much as 2.5 percent on Monday to a new five-yearlow near $60 a barrel after the International Energy Agency forecast furtherprice falls and OPEC's chief defended the group's decision not to cut its outputtarget.
MARKET NEWS
* Oil prices fell sank more than two percent to 5 1/2-year lows early on Mondayon concerns about supply glut and slower global growth, feeding fears for energyand commodities producers and exporters.
FUNDAMENTALS
* Malaysian palm oil futures dropped on Friday, tracking falls in crude oilprices and competing vegetable oil markets, although losses were limited byconcerns that monsoon rains could curb output in December.
* U.S. corn futures surged more than 2 percent on Friday, with the benchmarkcontract rising above $4 a bushel to its highest in nearly five months, fueledby technical buying and heavy buying by commodity funds.
* Brent crude futures fell as much as 2.5 percent on Monday to a new five-yearlow near $60 a barrel after the International Energy Agency forecast furtherprice falls and OPEC's chief defended the group's decision not to cut its outputtarget.
MARKET NEWS
* Oil prices fell sank more than two percent to 5 1/2-year lows early on Mondayon concerns about supply glut and slower global growth, feeding fears for energyand commodities producers and exporters.