MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Feb 11
VEGOILS-Market Factors to Watch Feb 11
11/02/2015 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures ended lower on Tuesday, giving up gains in the earlier session as traders fretted about poor appetite for the tropical oil, although tighter stocks in the world's No.2 grower curbed losses.
* U.S. wheat futures fell 1.5 percent on Tuesday, declining for the first time in four sessions after the U.S. Department of Agriculture in a monthly report estimated world ending stocks larger than analysts anticipated.
* Crude oil prices fell for the first time in four sessions on Tuesday after the International Energy Agency (IEA) warned that ample supplies will raise global inventories before investment cuts begin to significantly dent production.
MARKET NEWS
* Asian markets got off to a cautious start on Wednesday as looming euro zone meetings over Greece overshadowed a firmer finish on Wall Street. Euro zone finance ministers meet later on Wednesday and EU leaders on Thursday, but officials are already downplaying the chance of a breakthrough.
RELATED
> Malaysia's Feb 1-10 palm oil exports fell 4.2 pct -SGS
> Malaysia's Feb 1-10 palm exports fall 16 pct m/m -ITS
> Malaysian Jan palm stocks drop to six-month low, output weakest in 4 yrs
> Louis Dreyfus' Brazil cane group Biosev posts smaller net loss
> India to incur steep losses from cotton reserve sales
> Mexico says US sugar deal not optimal, but better than dispute
> Libya could exhaust wheat reserves in 2-3 mths without new supply
DATA/EVENTS
-nil
Palm, soy and crude oil prices at 0452 GMT
Contract Month Last Change Low High Volume
MY PALM OIL FEB5 2240 -24.00 2230 2254 29
MY PALM OIL MAR5 2228 -19.00 2220 2249 388
MY PALM OIL APR5 2210 -20.00 2202 2222 7986
CHINA PALM OLEIN MAY5 4846 -22.00 4844 4874 180294
CHINA SOYOIL MAY5 5514 -52.00 5508 5562 240078
CBOT SOY OIL MAR5 31.48 -3.50 31.47 31.57 2367
INDIA PALM OIL JAN5 434.90 -3.50 434.00 439.50 488
INDIA SOYOIL FEB5 616.00 -9.00 615.70 624.80 50145
NYMEX CRUDE MAR5 45.06 -0.53 44.35 45.35 25835
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 ended lower on Tuesday, giving up gains in the earlier session as traders fretted about poor appetite for the tropical oil, although tighter stocks in the world's No.2 grower curbed losses.
* U.S. wheat futures fell 1.5 percent on Tuesday, declining for the first time in four sessions after the U.S. Department of Agriculture in a monthly report estimated world ending stocks larger than analysts anticipated.
* Crude oil prices fell for the first time in four sessions on Tuesday after the International Energy Agency (IEA) warned that ample supplies will raise global inventories before investment cuts begin to significantly dent production.
MARKET NEWS
* Asian markets got off to a cautious start on Wednesday as looming euro zone meetings over Greece overshadowed a firmer finish on Wall Street. Euro zone finance ministers meet later on Wednesday and EU leaders on Thursday, but officials are already downplaying the chance of a breakthrough.
RELATED
> Malaysia's Feb 1-10 palm oil exports fell 4.2 pct -SGS
> Malaysia's Feb 1-10 palm exports fall 16 pct m/m -ITS
> Malaysian Jan palm stocks drop to six-month low, output weakest in 4 yrs
> Louis Dreyfus' Brazil cane group Biosev posts smaller net loss
> India to incur steep losses from cotton reserve sales
> Mexico says US sugar deal not optimal, but better than dispute
> Libya could exhaust wheat reserves in 2-3 mths without new supply
DATA/EVENTS
-nil
Palm, soy and crude oil prices at 0452 GMT
Contract Month Last Change Low High Volume
MY PALM OIL FEB5 2240 -24.00 2230 2254 29
MY PALM OIL MAR5 2228 -19.00 2220 2249 388
MY PALM OIL APR5 2210 -20.00 2202 2222 7986
CHINA PALM OLEIN MAY5 4846 -22.00 4844 4874 180294
CHINA SOYOIL MAY5 5514 -52.00 5508 5562 240078
CBOT SOY OIL MAR5 31.48 -3.50 31.47 31.57 2367
INDIA PALM OIL JAN5 434.90 -3.50 434.00 439.50 488
INDIA SOYOIL FEB5 616.00 -9.00 615.70 624.80 50145
NYMEX CRUDE MAR5 45.06 -0.53 44.35 45.35 25835
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