MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Feb 16
VEGOILS-Market Factors to Watch Feb 16
16/02/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures fell nearly 2 percent on Monday after earlier hitting their highest level in nearly two years, weighed down by weaker-than-expected export data.
* 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.
* U.S. oil prices jumped back above $30 a barrel on Tuesday as news of a rare private meeting of top officials from the world's biggest oil producers spurred speculation of an eventual deal to tackle a deep supply glut.
MARKET NEWS
* World stocks rose sharply on Monday as China's central bank fixed the yuan at a much stronger rate and oil cemented recent gains, easing fears of global deflation.
RELATED
> India's target to import GMO-free corn - mission impossible?
> Brazil ports' lineup of ships to load soy, corn surges
> Egypt rejects U.S. soybean cargoes -traders
> European vegoils-Palm oil eases on poor exports and firm dollar
> European feeds-Soymeal easier on technical selling in Chicago
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Feb 1-20 palm oil export data on Feb 20.
> Cargo surveyor SGS releases Malaysia's Feb 1-20 palm oil export data on Feb 20.
Palm, soy and crude oil prices at 0033 GMT
Contract Month Last Change Low High Volume
MY PALM OIL MAR6 0 +0.00 0 0 0
MY PALM OIL APR6 0 +0.00 0 0 0
MY PALM OIL MAY6 0 +0.00 0 0 0
CHINA PALM OLEIN MAY6 4996 +8.00 4980 5010 185512
CHINA SOYOIL MAY6 5816 -14.00 5802 5832 73656
CBOT SOY OIL MAR6 31.80 -4.50 0.00 0.00 0
INDIA PALM OIL FEB6 480.80 -4.50 470.80 485.00 1953
INDIA SOYOIL FEB6 617.40 -2.15 616.50 620.50 2310
NYMEX CRUDE MAR6 30.86 +1.42 28.95 30.94 139628
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 nearly 2 percent on Monday after earlier hitting their highest level in nearly two years, weighed down by weaker-than-expected export data.
* 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.
* U.S. oil prices jumped back above $30 a barrel on Tuesday as news of a rare private meeting of top officials from the world's biggest oil producers spurred speculation of an eventual deal to tackle a deep supply glut.
MARKET NEWS
* World stocks rose sharply on Monday as China's central bank fixed the yuan at a much stronger rate and oil cemented recent gains, easing fears of global deflation.
RELATED
> India's target to import GMO-free corn - mission impossible?
> Brazil ports' lineup of ships to load soy, corn surges
> Egypt rejects U.S. soybean cargoes -traders
> European vegoils-Palm oil eases on poor exports and firm dollar
> European feeds-Soymeal easier on technical selling in Chicago
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Feb 1-20 palm oil export data on Feb 20.
> Cargo surveyor SGS releases Malaysia's Feb 1-20 palm oil export data on Feb 20.
Palm, soy and crude oil prices at 0033 GMT
Contract Month Last Change Low High Volume
MY PALM OIL MAR6 0 +0.00 0 0 0
MY PALM OIL APR6 0 +0.00 0 0 0
MY PALM OIL MAY6 0 +0.00 0 0 0
CHINA PALM OLEIN MAY6 4996 +8.00 4980 5010 185512
CHINA SOYOIL MAY6 5816 -14.00 5802 5832 73656
CBOT SOY OIL MAR6 31.80 -4.50 0.00 0.00 0
INDIA PALM OIL FEB6 480.80 -4.50 470.80 485.00 1953
INDIA SOYOIL FEB6 617.40 -2.15 616.50 620.50 2310
NYMEX CRUDE MAR6 30.86 +1.42 28.95 30.94 139628
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