MARKET DEVELOPMENT
Vegoils-Market Factors to Watch Wednesday Dec 23
Vegoils-Market Factors to Watch Wednesday Dec 23
23/12/2015 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Wednesday December 22.
FUNDAMENTALS
* Malaysian palm oil futures extended gains for a third day on Tuesday to mark their highest in nearly 18 months, buoyed by low production data from a regional palm oil association.
* U.S. grain and soybean prices fell on Tuesday, weighed by technical selling and abundant global supplies.
* Brent crude touched an 11-year low on Tuesday, rebounding slightly after settlement, as a bearish outlook for 2016 and weaker profits for refining oil products kept a lid on gains.
MARKET NEWS
* Wall Street climbed on Tuesday, buoyed by energy shares as sliding oil prices stabilized and by fairly healthy data on U.S. economic growth, while the dollar fell for a third consecutive session.
RELATED
> Noble exits agricultural markets with unit sale to China's COFCO
> India doubles ethanol blending target to help sugar mills
> Indonesia's 2016 cocoa output may linger near 2015's record low
> Tumbling oil erases decade of China-fuelled super cycle
> Brazil's center-south sugarcane crush keeps pace in 1st half Dec
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Dec 1-25 palm oil export data on December 26.
> Cargo surveyor SGS releases Malaysia's Dec 1-25 palm oil export data on December 26.
Palm, soy and crude oil prices at 0018 GMT
Contract Month Last Change Low High Volume
MY PALM OIL JAN6 0 +0.00 0 0 0
MY PALM OIL FEB6 0 +0.00 0 0 0
MY PALM OIL MAR6 0 +0.00 0 0 0
CHINA PALM OLEIN MAY6 4728 +32.00 4704 4740 433746
CHINA SOYOIL MAY6 5624 -2.00 5612 5648 221184
CBOT SOY OIL JAN6 30.44 +3.60 0.00 0.00 0
INDIA PALM OIL DEC5 403.50 +3.60 398.60 406.30 1326
INDIA SOYOIL JAN6 623.20 +3.45 619.10 624.70 44150
NYMEX CRUDE FEB6 36.39 +0.25 36.37 36.56 2327
FUNDAMENTALS
* Malaysian palm oil futures extended gains for a third day on Tuesday to mark their highest in nearly 18 months, buoyed by low production data from a regional palm oil association.
* U.S. grain and soybean prices fell on Tuesday, weighed by technical selling and abundant global supplies.
* Brent crude touched an 11-year low on Tuesday, rebounding slightly after settlement, as a bearish outlook for 2016 and weaker profits for refining oil products kept a lid on gains.
MARKET NEWS
* Wall Street climbed on Tuesday, buoyed by energy shares as sliding oil prices stabilized and by fairly healthy data on U.S. economic growth, while the dollar fell for a third consecutive session.
RELATED
> Noble exits agricultural markets with unit sale to China's COFCO
> India doubles ethanol blending target to help sugar mills
> Indonesia's 2016 cocoa output may linger near 2015's record low
> Tumbling oil erases decade of China-fuelled super cycle
> Brazil's center-south sugarcane crush keeps pace in 1st half Dec
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Dec 1-25 palm oil export data on December 26.
> Cargo surveyor SGS releases Malaysia's Dec 1-25 palm oil export data on December 26.
Palm, soy and crude oil prices at 0018 GMT
Contract Month Last Change Low High Volume
MY PALM OIL JAN6 0 +0.00 0 0 0
MY PALM OIL FEB6 0 +0.00 0 0 0
MY PALM OIL MAR6 0 +0.00 0 0 0
CHINA PALM OLEIN MAY6 4728 +32.00 4704 4740 433746
CHINA SOYOIL MAY6 5624 -2.00 5612 5648 221184
CBOT SOY OIL JAN6 30.44 +3.60 0.00 0.00 0
INDIA PALM OIL DEC5 403.50 +3.60 398.60 406.30 1326
INDIA SOYOIL JAN6 623.20 +3.45 619.10 624.70 44150
NYMEX CRUDE FEB6 36.39 +0.25 36.37 36.56 2327