MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Feb 15
VEGOILS-Market Factors to Watch Feb 15
15/02/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oilmarkets.
FUNDAMENTALS
* Malaysian palm oil futures extended gains on Friday to reach its strongest level in nearly two years, tracking competing vegetable oils and a weaker ringgit.
* Chicago soybeans extended gains to one-week highs on Friday, as higher than expected U.S. export sales and the prospect of post-holiday demand in China boosted demand prospects.
* Global oil prices surged as much as 12 percent on Friday after a report once again suggested OPEC might finally agree to cut production to reduce the world glut, while a bounce in stock markets fed appetite for risk.
MARKET NEWS
* Asian shares bounced on Monday, though investors feared fireworks as Chinese markets reopen after the long Lunar holidays to find there had been a major reversal in the U.S. dollar and a worldwide rout in equities.
RELATED
> Subsidy sham: Fertilizers reach Indonesia plantations, not small farmers
> FOB Gulf Grain-Corn premiums steady to weak on light demand
> Argentine farmers take Monsanto seed complaint to regulators
> Argentina hikes 2015/16 soy harvest to 58.5 mln tonnes
> Speculators cut U.S. natgas net shorts for first week in four -CFTC
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Feb 1-15 palm oil export data on Feb 15.
> Cargo surveyor SGS releases Malaysia's Feb 1-15 palm oil export data on Feb 15.
Palm, soy and crude oil prices at 0056 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 0 +0.00 0 0 0
CHINA SOYOIL MAY6 0 +0.00 0 0 0
CBOT SOY OIL MAR6 31.80 -0.40 0.00 0.00 0
INDIA PALM OIL FEB6 484.80 -0.40 480.00 491.50 2594
INDIA SOYOIL FEB6 620.70 +0.15 617.60 623.40 5220
NYMEX CRUDE MAR6 29.04 -0.40 28.95 29.19 4690
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 extended gains on Friday to reach its strongest level in nearly two years, tracking competing vegetable oils and a weaker ringgit.
* Chicago soybeans extended gains to one-week highs on Friday, as higher than expected U.S. export sales and the prospect of post-holiday demand in China boosted demand prospects.
* Global oil prices surged as much as 12 percent on Friday after a report once again suggested OPEC might finally agree to cut production to reduce the world glut, while a bounce in stock markets fed appetite for risk.
MARKET NEWS
* Asian shares bounced on Monday, though investors feared fireworks as Chinese markets reopen after the long Lunar holidays to find there had been a major reversal in the U.S. dollar and a worldwide rout in equities.
RELATED
> Subsidy sham: Fertilizers reach Indonesia plantations, not small farmers
> FOB Gulf Grain-Corn premiums steady to weak on light demand
> Argentine farmers take Monsanto seed complaint to regulators
> Argentina hikes 2015/16 soy harvest to 58.5 mln tonnes
> Speculators cut U.S. natgas net shorts for first week in four -CFTC
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Feb 1-15 palm oil export data on Feb 15.
> Cargo surveyor SGS releases Malaysia's Feb 1-15 palm oil export data on Feb 15.
Palm, soy and crude oil prices at 0056 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 0 +0.00 0 0 0
CHINA SOYOIL MAY6 0 +0.00 0 0 0
CBOT SOY OIL MAR6 31.80 -0.40 0.00 0.00 0
INDIA PALM OIL FEB6 484.80 -0.40 480.00 491.50 2594
INDIA SOYOIL FEB6 620.70 +0.15 617.60 623.40 5220
NYMEX CRUDE MAR6 29.04 -0.40 28.95 29.19 4690
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