MARKET DEVELOPMENT
Vegoils: Market Factors to Watch on Thursday Jan 22
Vegoils: Market Factors to Watch on Thursday Jan 22
22/01/2015 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Thursday Jan 22.
FUNDAMENTALS
* Malaysian palm oil futures fell to their lowest in over two weeks on Wednesday, after worries over monsoon floods Borneo's key palm-growing areas triggered a round of technical selling in the tropical oil.
* U.S. corn futures slipped from a one-week high on Wednesday on ample global supplies, traders said. Soybean futures edged higher, with bargain buyers picking prices up from their lowest since October even as concerns about dry weather culling crop production in South America eased.
* Global oil prices snapped a two-day decline and rose around 2 percent on Wednesday on hopes prices will recover as energy companies cut production investment to alleviate a glut that has wiped out more than half crude's value since June.
MARKET NEWS
* European and U.S. equities rose on Wednesday, lifted by reports the European Central Bank will announce a 50 billion euros per month bond-buying program to boost the euro zone's flagging economy.
RELATED
> Indonesia sees higher agricultural output in 2015
> China sells nearly 60 pct of U.S. wheat offered in auction
> Stricter controls cause cocoa bottleneck in Ivory Coast ports
> Corn drops from 1-week high; bargain buying supports soybeans
> NY cocoa drops to 2-month low, raw sugar taps 2-month high
> Kenya's raw sugar production expected to rebound in 2015
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's Jan. 1-25 palm oil exports on Jan. 26.
Palm, soy and crude oil prices at 0025 GMT
Contract Month Last Change Low High Volume
MY PALM OIL FEB5 0 +0.00 0 0 0
MY PALM OIL MAR5 0 +0.00 0 0 0
MY PALM OIL APR5 0 +0.00 0 0 0
CHINA PALM OLEIN MAY5 4894 -4.00 4864 4908 147922
CHINA SOYOIL MAY5 5618 +2.00 5596 5640 171520
CBOT SOY OIL MAR5 32.43 -6.30 0.00 0.00 0
INDIA PALM OIL JAN5 445.20 -6.30 441.60 451.50 635
INDIA SOYOIL FEB5 637.50 -4.40 635.50 644.80 50450
NYMEX CRUDE MAR5 47.29 -0.49 47.23 47.54 1837
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 over two weeks on Wednesday, after worries over monsoon floods Borneo's key palm-growing areas triggered a round of technical selling in the tropical oil.
* U.S. corn futures slipped from a one-week high on Wednesday on ample global supplies, traders said. Soybean futures edged higher, with bargain buyers picking prices up from their lowest since October even as concerns about dry weather culling crop production in South America eased.
* Global oil prices snapped a two-day decline and rose around 2 percent on Wednesday on hopes prices will recover as energy companies cut production investment to alleviate a glut that has wiped out more than half crude's value since June.
MARKET NEWS
* European and U.S. equities rose on Wednesday, lifted by reports the European Central Bank will announce a 50 billion euros per month bond-buying program to boost the euro zone's flagging economy.
RELATED
> Indonesia sees higher agricultural output in 2015
> China sells nearly 60 pct of U.S. wheat offered in auction
> Stricter controls cause cocoa bottleneck in Ivory Coast ports
> Corn drops from 1-week high; bargain buying supports soybeans
> NY cocoa drops to 2-month low, raw sugar taps 2-month high
> Kenya's raw sugar production expected to rebound in 2015
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's Jan. 1-25 palm oil exports on Jan. 26.
Palm, soy and crude oil prices at 0025 GMT
Contract Month Last Change Low High Volume
MY PALM OIL FEB5 0 +0.00 0 0 0
MY PALM OIL MAR5 0 +0.00 0 0 0
MY PALM OIL APR5 0 +0.00 0 0 0
CHINA PALM OLEIN MAY5 4894 -4.00 4864 4908 147922
CHINA SOYOIL MAY5 5618 +2.00 5596 5640 171520
CBOT SOY OIL MAR5 32.43 -6.30 0.00 0.00 0
INDIA PALM OIL JAN5 445.20 -6.30 441.60 451.50 635
INDIA SOYOIL FEB5 637.50 -4.40 635.50 644.80 50450
NYMEX CRUDE MAR5 47.29 -0.49 47.23 47.54 1837
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