MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Dec 16
VEGOILS-Market Factors to Watch Dec 16
16/12/2014 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures fell for a second day on Monday, as a modest rise in Malaysian palm oil export figures in the first half of December and weakness in the ringgit were offset by weakness in crude oil prices.
* Chicago Board of Trade wheat futures rose 2 percent on Monday on a mix of chart-based buying and uncertainty over Russian grain export policy, traders said.
* Crude prices plunged further on Monday after OPEC once again said it will not cut oil output despite fears of a glut, and a UAE official opposed holding an emergency meeting of the producer group to support prices.
MARKET NEWS
* Oil prices continued to slide on Tuesday, while the rouble jumped against the dollar after Russia sharply hiked its benchmark interest rate to halt a collapse in its currency.
RELATED
> Malaysia's Dec 1-15 palm oil exports up 2.93 pct m/m-ITS
> Malaysia's Dec 1-15 palm oil exports rose 2.1 pct-SGS
> Indonesia aims to double cocoa output with 2015 revival plan-Industry
> Olam agrees to buy ADM's cocoa business
> US soy crush smaller than expected in November- NOPA
> India seen approving sugar export incentives, bearish for prices
> Green Mountain moves coffee buying to Switzerland
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's Dec. 1-15 palm oil exports on Dec. 15.
Palm, soy and crude oil prices at 0018 GMT
Contract Month Last Change Low High Volume
MY PALM OIL JAN5 0 +0.00 0 0 0
MY PALM OIL FEB5 0 +0.00 0 0 0
MY PALM OIL MAR5 0 +0.00 0 0 0
CHINA PALM OLEIN MAY5 5032 +16.00 5014 5038 252192
CHINA SOYOIL MAY5 0 +0.00 0 0 0
CBOT SOY OIL JAN5 32.19 +4.40 0.00 0.00 0
INDIA PALM OIL DEC4 422.50 +4.40 417.00 422.80 757
INDIA SOYOIL DEC4 582.25 +2.20 571.00 582.30 8650
NYMEX CRUDE JAN5 55.67 -0.24 55.25 55.85 2538
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 for a second day on Monday, as a modest rise in Malaysian palm oil export figures in the first half of December and weakness in the ringgit were offset by weakness in crude oil prices.
* Chicago Board of Trade wheat futures rose 2 percent on Monday on a mix of chart-based buying and uncertainty over Russian grain export policy, traders said.
* Crude prices plunged further on Monday after OPEC once again said it will not cut oil output despite fears of a glut, and a UAE official opposed holding an emergency meeting of the producer group to support prices.
MARKET NEWS
* Oil prices continued to slide on Tuesday, while the rouble jumped against the dollar after Russia sharply hiked its benchmark interest rate to halt a collapse in its currency.
RELATED
> Malaysia's Dec 1-15 palm oil exports up 2.93 pct m/m-ITS
> Malaysia's Dec 1-15 palm oil exports rose 2.1 pct-SGS
> Indonesia aims to double cocoa output with 2015 revival plan-Industry
> Olam agrees to buy ADM's cocoa business
> US soy crush smaller than expected in November- NOPA
> India seen approving sugar export incentives, bearish for prices
> Green Mountain moves coffee buying to Switzerland
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's Dec. 1-15 palm oil exports on Dec. 15.
Palm, soy and crude oil prices at 0018 GMT
Contract Month Last Change Low High Volume
MY PALM OIL JAN5 0 +0.00 0 0 0
MY PALM OIL FEB5 0 +0.00 0 0 0
MY PALM OIL MAR5 0 +0.00 0 0 0
CHINA PALM OLEIN MAY5 5032 +16.00 5014 5038 252192
CHINA SOYOIL MAY5 0 +0.00 0 0 0
CBOT SOY OIL JAN5 32.19 +4.40 0.00 0.00 0
INDIA PALM OIL DEC4 422.50 +4.40 417.00 422.80 757
INDIA SOYOIL DEC4 582.25 +2.20 571.00 582.30 8650
NYMEX CRUDE JAN5 55.67 -0.24 55.25 55.85 2538
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