MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Jan 15
VEGOILS-Market Factors to Watch Jan 15
15/01/2015 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures edged lower on Wednesday as losses in competing soy markets weighed, although a weak ringgit and concerns about the aftermath of monsoon floods on palm output limited the fall and kept prices rangebound.
* U.S. corn fell 1 percent on Wednesday, extending declines from the past two sessions to the largest in 1-1/2 years on pressure from chart-based selling and ballooning supplies of grain-based ethanol.
* World oil prices had their biggest surge in two-and-a-half years on Wednesday, rebounding from a nearly six-year low as traders turned away from the bearish pressures of a worldwide glut to cover themselves on expiring options.
MARKET NEWS
* Securities around the world fell on Wednesday after the World Bank cut its economic growth forecasts for 2015 and 2016, with stocks down across regions and copper suffering its biggest one-day drop in more than three years.
RELATED
> Flood aftermath may see Malaysian palm output drop again in Jan
> Pakistan buys 66,000 T U.S. soybeans, seeks Brazilian soy -traders
> India's Dec palm oil imports rise, trend may continue - trade
> U.S. ethanol slumps to 9-year low on record supply spike
> Exporters sell soybeans to unknown and corn to Taiwan -USDA
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's Jan. 1-15 palm oil exports on Jan 15.
Palm, soy and crude oil prices at 0038 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 4910 -58.00 4900 4944 214054
CHINA SOYOIL MAY5 5586 -44.00 5576 5624 154500
CBOT SOY OIL MAR5 32.82 -2.20 0.00 0.00 0
INDIA PALM OIL JAN5 459.50 -2.20 456.60 461.70 1338
INDIA SOYOIL JAN5 669.90 +4.60 667.00 673.00 17740
NYMEX CRUDE FEB5 48.72 +0.24 48.49 49.59 9716
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 lower on Wednesday as losses in competing soy markets weighed, although a weak ringgit and concerns about the aftermath of monsoon floods on palm output limited the fall and kept prices rangebound.
* U.S. corn fell 1 percent on Wednesday, extending declines from the past two sessions to the largest in 1-1/2 years on pressure from chart-based selling and ballooning supplies of grain-based ethanol.
* World oil prices had their biggest surge in two-and-a-half years on Wednesday, rebounding from a nearly six-year low as traders turned away from the bearish pressures of a worldwide glut to cover themselves on expiring options.
MARKET NEWS
* Securities around the world fell on Wednesday after the World Bank cut its economic growth forecasts for 2015 and 2016, with stocks down across regions and copper suffering its biggest one-day drop in more than three years.
RELATED
> Flood aftermath may see Malaysian palm output drop again in Jan
> Pakistan buys 66,000 T U.S. soybeans, seeks Brazilian soy -traders
> India's Dec palm oil imports rise, trend may continue - trade
> U.S. ethanol slumps to 9-year low on record supply spike
> Exporters sell soybeans to unknown and corn to Taiwan -USDA
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's Jan. 1-15 palm oil exports on Jan 15.
Palm, soy and crude oil prices at 0038 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 4910 -58.00 4900 4944 214054
CHINA SOYOIL MAY5 5586 -44.00 5576 5624 154500
CBOT SOY OIL MAR5 32.82 -2.20 0.00 0.00 0
INDIA PALM OIL JAN5 459.50 -2.20 456.60 461.70 1338
INDIA SOYOIL JAN5 669.90 +4.60 667.00 673.00 17740
NYMEX CRUDE FEB5 48.72 +0.24 48.49 49.59 9716
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