MARKET DEVELOPMENT
Vegoils: Market Factors to Watch Dec 19 Friday
Vegoils: Market Factors to Watch Dec 19 Friday
19/12/2014 (The Star) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Friday.
FUNDAMENTALS
* Malaysian palm oil futures edged up on Thursday, swelled by a jump in crude oil prices, while wet weather warnings across parts of the second-largest grower stoked concern that yields of the tropical oil will drop this month.
* U.S. wheat futures rose on Thursday, extending a winning streak spurred by concerns about Russia cutting back on their overseas shipments, traders said.
* U.S. crude futures jumped 2 percent in early trading on Thursday to above $55, recouping about half the losses in the previous session when oil fell to near five and a half year lows.
MARKET NEWS
* Asian markets looked set for another upbeat session on Friday after Wall Street boasted its biggest two-day advance since late 2011 amid relief the Federal Reserve was in no rush to start hiking interest rates.
RELATED
> Tropical deforestation threatens global food production - TRFN
> China approves delayed GMO imports as U.S. ties warm
> Thaw in relations with Cuba positive for U.S. agriculture-USDA
> China approval may spur Syngenta to settle lawsuits-lawyers
> Britain trims forecast for 2014 rapeseed crop
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's Dec. 1-20 palm oil exports on Dec. 22.
Palm, soy and crude oil prices at 0036 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 4932 +6.00 4926 4974 315498
CHINA SOYOIL MAY5 0 +0.00 0 0 0
CBOT SOY OIL JAN5 31.96 +0.70 0.00 0.00 0
INDIA PALM OIL DEC4 416.10 +0.70 415.20 418.80 1114
INDIA SOYOIL DEC4 579.50 -2.40 579.50 582.90 8025
NYMEX CRUDE JAN5 54.88 +0.77 54.85 55.50 1516
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 edged up on Thursday, swelled by a jump in crude oil prices, while wet weather warnings across parts of the second-largest grower stoked concern that yields of the tropical oil will drop this month.
* U.S. wheat futures rose on Thursday, extending a winning streak spurred by concerns about Russia cutting back on their overseas shipments, traders said.
* U.S. crude futures jumped 2 percent in early trading on Thursday to above $55, recouping about half the losses in the previous session when oil fell to near five and a half year lows.
MARKET NEWS
* Asian markets looked set for another upbeat session on Friday after Wall Street boasted its biggest two-day advance since late 2011 amid relief the Federal Reserve was in no rush to start hiking interest rates.
RELATED
> Tropical deforestation threatens global food production - TRFN
> China approves delayed GMO imports as U.S. ties warm
> Thaw in relations with Cuba positive for U.S. agriculture-USDA
> China approval may spur Syngenta to settle lawsuits-lawyers
> Britain trims forecast for 2014 rapeseed crop
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's Dec. 1-20 palm oil exports on Dec. 22.
Palm, soy and crude oil prices at 0036 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 4932 +6.00 4926 4974 315498
CHINA SOYOIL MAY5 0 +0.00 0 0 0
CBOT SOY OIL JAN5 31.96 +0.70 0.00 0.00 0
INDIA PALM OIL DEC4 416.10 +0.70 415.20 418.80 1114
INDIA SOYOIL DEC4 579.50 -2.40 579.50 582.90 8025
NYMEX CRUDE JAN5 54.88 +0.77 54.85 55.50 1516
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