MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Dec 30
VEGOILS-Market Factors to Watch Dec 30
30/12/2015 (Reuters) – The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures rose on Tuesday to touch a fresh 18-month high after falling in the previous session, gaining support on concerns production will be affected in the rainy monsoon season.
* U.S. wheat futures rose roughly 2 percent on Tuesday to hit a one-week high on bargain buying and concerns about crop prospects in the southern Midwest, traders said.
* Oil prices jumped 3 percent on Tuesday, recouping the previous day's loss as colder weather encouraged buyers, but traders said prices remained under pressure due to slowing global demand and abundant supplies from OPEC members.
MARKET NEWS
* Stocks rose around the world and bond yields edged up on Tuesday as oil rebounded from 11-year lows on prospects for lower temperatures on both sides of the Atlantic.
RELATED
> Moody's downgrades Noble to junk as commodity rout deepens
> Saudi economic shake-up shows it is planning for cheap oil
> Argentina's Macri scraps corn and wheat export quotas
> Russian wheat export prices flat amid rouble volatility
> Large China smelters to cut 200,000 T spot copper sales in 2016
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Dec 1-31 palm oil export data on December 31.
> Cargo surveyor SGS releases Malaysia's Dec 1-31 palm oil export data on December 31.
Palm, soy and crude oil prices at 0021 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 4864 +174.00 4792 4866 914198
CHINA SOYOIL MAY6 5706 +120.00 5640 5716 539886
CBOT SOY OIL MAR6 30.77 +2.00 0.00 0.00 0
INDIA PALM OIL DEC5 401.20 +2.00 400.30 402.70 983
INDIA SOYOIL JAN6 621.70 +6.50 617.00 621.90 39310
NYMEX CRUDE FEB6 37.32 -0.55 37.18 37.40 3523
FUNDAMENTALS
* Malaysian palm oil futures rose on Tuesday to touch a fresh 18-month high after falling in the previous session, gaining support on concerns production will be affected in the rainy monsoon season.
* U.S. wheat futures rose roughly 2 percent on Tuesday to hit a one-week high on bargain buying and concerns about crop prospects in the southern Midwest, traders said.
* Oil prices jumped 3 percent on Tuesday, recouping the previous day's loss as colder weather encouraged buyers, but traders said prices remained under pressure due to slowing global demand and abundant supplies from OPEC members.
MARKET NEWS
* Stocks rose around the world and bond yields edged up on Tuesday as oil rebounded from 11-year lows on prospects for lower temperatures on both sides of the Atlantic.
RELATED
> Moody's downgrades Noble to junk as commodity rout deepens
> Saudi economic shake-up shows it is planning for cheap oil
> Argentina's Macri scraps corn and wheat export quotas
> Russian wheat export prices flat amid rouble volatility
> Large China smelters to cut 200,000 T spot copper sales in 2016
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Dec 1-31 palm oil export data on December 31.
> Cargo surveyor SGS releases Malaysia's Dec 1-31 palm oil export data on December 31.
Palm, soy and crude oil prices at 0021 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 4864 +174.00 4792 4866 914198
CHINA SOYOIL MAY6 5706 +120.00 5640 5716 539886
CBOT SOY OIL MAR6 30.77 +2.00 0.00 0.00 0
INDIA PALM OIL DEC5 401.20 +2.00 400.30 402.70 983
INDIA SOYOIL JAN6 621.70 +6.50 617.00 621.90 39310
NYMEX CRUDE FEB6 37.32 -0.55 37.18 37.40 3523