MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Dec 2
VEGOILS-Market Factors to Watch Dec 2
02/12/2015 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures fell on Tuesday, reversing gains made in early trade, as traders expect high inventories and weak export demand ahead of government data.
* U.S. soybean futures climbed to a one-month high on Tuesday, supported by bargain buying in soymeal and concerns that a slowing U.S. soy crushing pace might tighten supplies of the animal feed ingredient, analysts said.
* Crude prices dipped in early Asian trading hours on Wednesday as U.S. stockpiles rose against expectations, compounding a glut that is seeing hundreds of thousands barrels of oil being produced every day in excess of demand.
MARKET NEWS
* U.S. stocks closed higher on Tuesday despite mixed U.S. economic data as treasury yields and the dollar declined while oil prices were choppy ahead of an OPEC meeting later this week.
RELATED
> Brazil coffee, corn, sugar exports ease but still strong
> Canada's Alberta to retool controversial farm safety changes
> OPEC set for tough meeting, further price fall feared
> Green investors take note: climate-focused mutual funds dabble in oil
> El Nino rains complicate corn loading at Brazilian ports
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Dec 1-10 palm oil export data on December 10.
> Malaysian Palm Oil Board releases Malaysia's monthly palm oil data on December 10.
Contract Month Last Change Low High Volume
MY PALM OIL DEC5 0 +0.00 0 0 0
MY PALM OIL JAN6 0 +0.00 0 0 0
MY PALM OIL FEB6 0 +0.00 0 0 0
CHINA PALM OLEIN MAY6 4636 -16.00 4614 4652 255274
CHINA SOYOIL MAY6 5656 -16.00 5636 5682 356250
CBOT SOY OIL JAN6 30.08 -2.30 0.00 0.00 0
INDIA PALM OIL DEC5 397.00 -2.30 396.40 401.90 2256
INDIA SOYOIL DEC5 621.70 +3.00 618.70 622.00 33640
NYMEX CRUDE JAN6 41.67 -0.18 41.63 41.77 1320
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 on Tuesday, reversing gains made in early trade, as traders expect high inventories and weak export demand ahead of government data.
* U.S. soybean futures climbed to a one-month high on Tuesday, supported by bargain buying in soymeal and concerns that a slowing U.S. soy crushing pace might tighten supplies of the animal feed ingredient, analysts said.
* Crude prices dipped in early Asian trading hours on Wednesday as U.S. stockpiles rose against expectations, compounding a glut that is seeing hundreds of thousands barrels of oil being produced every day in excess of demand.
MARKET NEWS
* U.S. stocks closed higher on Tuesday despite mixed U.S. economic data as treasury yields and the dollar declined while oil prices were choppy ahead of an OPEC meeting later this week.
RELATED
> Brazil coffee, corn, sugar exports ease but still strong
> Canada's Alberta to retool controversial farm safety changes
> OPEC set for tough meeting, further price fall feared
> Green investors take note: climate-focused mutual funds dabble in oil
> El Nino rains complicate corn loading at Brazilian ports
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Dec 1-10 palm oil export data on December 10.
> Malaysian Palm Oil Board releases Malaysia's monthly palm oil data on December 10.
Contract Month Last Change Low High Volume
MY PALM OIL DEC5 0 +0.00 0 0 0
MY PALM OIL JAN6 0 +0.00 0 0 0
MY PALM OIL FEB6 0 +0.00 0 0 0
CHINA PALM OLEIN MAY6 4636 -16.00 4614 4652 255274
CHINA SOYOIL MAY6 5656 -16.00 5636 5682 356250
CBOT SOY OIL JAN6 30.08 -2.30 0.00 0.00 0
INDIA PALM OIL DEC5 397.00 -2.30 396.40 401.90 2256
INDIA SOYOIL DEC5 621.70 +3.00 618.70 622.00 33640
NYMEX CRUDE JAN6 41.67 -0.18 41.63 41.77 1320
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