MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Jan 18
VEGOILS-Market Factors to Watch Jan 18
18/01/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures rose on Friday, underpinned by improving export data and expected lower output and as traders covered short positions, but were still set for a small weekly fall.
* U.S. corn 0#C: and wheat 0#W: futures each jumped 1 percent or more on Friday, shrugging off earlier losses as investors took profits on bearish short bets ahead of a three-day holiday weekend, traders and analysts said.
* Brent and U.S. crude futures fell to the lowest since 2003 in Asian trading on Monday as the market braced for a jump in Iranian oil exports following the lifting of the sanctions at the weekend.
MARKET NEWS
* Asian shares are set to slide to near their 2011 troughs on Monday following weak U.S. economic data and falls in oil prices that showed no sign of abating, stoking further worries about a global economic downturn.
RELATED
> Fire extinguished at Brazil's Santos port
> Egypt's GASC buys 35,500 tonnes of sunflower oil in tender
> South Africa to import up to 6 mln tonnes of maize from May
> Fearing wave of bankruptcies, U.S. corn belt wants new debt cap
> U.S. freight volume falls for first time in almost three years: Kemp
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Jan 1-20 palm oil export data on January 20.
> Cargo surveyor SGS releases Malaysia's Jan 1-20 palm oil export data on January 20.
> MPOB releases Malaysia's January 2016 data on February 10.
Palm, soy and crude oil prices at 0030 GMT
Contract Month Last Change Low High Volume
MY PALM OIL FEB6 0 +0.00 0 0 0
MY PALM OIL MAR6 0 +0.00 0 0 0
MY PALM OIL APR6 0 +0.00 0 0 0
CHINA PALM OLEIN MAY6 4658 +12.00 4630 4672 493990
CHINA SOYOIL MAY6 5534 +2.00 5500 5542 250336
CBOT SOY OIL MAR6 29.65 +2.90 0.00 0.00 0
INDIA PALM OIL JAN6 421.90 +2.90 419.50 423.00 1645
INDIA SOYOIL JAN6 613.50 +3.25 610.00 614.50 4780
NYMEX CRUDE FEB6 28.83 -0.59 28.36 29.23 692
FUNDAMENTALS
* Malaysian palm oil futures rose on Friday, underpinned by improving export data and expected lower output and as traders covered short positions, but were still set for a small weekly fall.
* U.S. corn 0#C: and wheat 0#W: futures each jumped 1 percent or more on Friday, shrugging off earlier losses as investors took profits on bearish short bets ahead of a three-day holiday weekend, traders and analysts said.
* Brent and U.S. crude futures fell to the lowest since 2003 in Asian trading on Monday as the market braced for a jump in Iranian oil exports following the lifting of the sanctions at the weekend.
MARKET NEWS
* Asian shares are set to slide to near their 2011 troughs on Monday following weak U.S. economic data and falls in oil prices that showed no sign of abating, stoking further worries about a global economic downturn.
RELATED
> Fire extinguished at Brazil's Santos port
> Egypt's GASC buys 35,500 tonnes of sunflower oil in tender
> South Africa to import up to 6 mln tonnes of maize from May
> Fearing wave of bankruptcies, U.S. corn belt wants new debt cap
> U.S. freight volume falls for first time in almost three years: Kemp
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Jan 1-20 palm oil export data on January 20.
> Cargo surveyor SGS releases Malaysia's Jan 1-20 palm oil export data on January 20.
> MPOB releases Malaysia's January 2016 data on February 10.
Palm, soy and crude oil prices at 0030 GMT
Contract Month Last Change Low High Volume
MY PALM OIL FEB6 0 +0.00 0 0 0
MY PALM OIL MAR6 0 +0.00 0 0 0
MY PALM OIL APR6 0 +0.00 0 0 0
CHINA PALM OLEIN MAY6 4658 +12.00 4630 4672 493990
CHINA SOYOIL MAY6 5534 +2.00 5500 5542 250336
CBOT SOY OIL MAR6 29.65 +2.90 0.00 0.00 0
INDIA PALM OIL JAN6 421.90 +2.90 419.50 423.00 1645
INDIA SOYOIL JAN6 613.50 +3.25 610.00 614.50 4780
NYMEX CRUDE FEB6 28.83 -0.59 28.36 29.23 692