MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Feb 16
VEGOILS-Market Factors to Watch Feb 16
16/02/2015 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures edged down on Friday as the market digested recent news of Malaysia's plans to re-impose taxes on palm oil exports and traders prepared for the Lunar New Year long weekend next week.
* U.S. soybean futures rose for the third consecutive day on Friday as demand for U.S. stocks of the oilseed remained strong while overseas buyers waited for supplies from the South American harvest to hit the market, traders said.
* Oil closed up for a second straight week on Friday after another drop in the U.S. rig count, and Brent crude hit a 2015 high above $60 a barrel, but market skeptics cautioned the rally could fade because supplies keep coming.
MARKET NEWS
* Stock markets worldwide rose on Friday on stronger-than-expected economic growth in Germany and optimism that Greece would reach a deal with its creditors, while oil prices gained on signs that excess supply may ebb.
RELATED
> Canada seeks to increase cereal exports to Bangladesh-official
> From cattle to corn, crude oil dive ripples through farm economy
> Syngenta mulls counterclaims to biotech corn lawsuits -filing
> Brazil 2014-15 soybean crop 38 pct sold - Safras e Mercado
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's Feb 1-15 palm oil exports on Feb. 16
Palm, soy and crude oil prices at 0016 GMT
Contract Month Last Change Low High Volume
MY PALM OIL MAR5 0 +0.00 0 0 0
MY PALM OIL APR5 0 +0.00 0 0 0
MY PALM OIL MAY5 0 +0.00 0 0 0
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 0.00 0.00 0
INDIA PALM OIL FEB5 434.90 -3.50 434.00 439.50 488
INDIA SOYOIL FEB5 619.60 +3.65 612.50 619.60 7880
NYMEX CRUDE MAR5 53.04 +0.26 44.35 45.35 4109
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 down on Friday as the market digested recent news of Malaysia's plans to re-impose taxes on palm oil exports and traders prepared for the Lunar New Year long weekend next week.
* U.S. soybean futures rose for the third consecutive day on Friday as demand for U.S. stocks of the oilseed remained strong while overseas buyers waited for supplies from the South American harvest to hit the market, traders said.
* Oil closed up for a second straight week on Friday after another drop in the U.S. rig count, and Brent crude hit a 2015 high above $60 a barrel, but market skeptics cautioned the rally could fade because supplies keep coming.
MARKET NEWS
* Stock markets worldwide rose on Friday on stronger-than-expected economic growth in Germany and optimism that Greece would reach a deal with its creditors, while oil prices gained on signs that excess supply may ebb.
RELATED
> Canada seeks to increase cereal exports to Bangladesh-official
> From cattle to corn, crude oil dive ripples through farm economy
> Syngenta mulls counterclaims to biotech corn lawsuits -filing
> Brazil 2014-15 soybean crop 38 pct sold - Safras e Mercado
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's Feb 1-15 palm oil exports on Feb. 16
Palm, soy and crude oil prices at 0016 GMT
Contract Month Last Change Low High Volume
MY PALM OIL MAR5 0 +0.00 0 0 0
MY PALM OIL APR5 0 +0.00 0 0 0
MY PALM OIL MAY5 0 +0.00 0 0 0
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 0.00 0.00 0
INDIA PALM OIL FEB5 434.90 -3.50 434.00 439.50 488
INDIA SOYOIL FEB5 619.60 +3.65 612.50 619.60 7880
NYMEX CRUDE MAR5 53.04 +0.26 44.35 45.35 4109
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