MARKET DEVELOPMENT
VEGOILS-Market Factors To Watch Feb 17
VEGOILS-Market Factors To Watch Feb 17
17/02/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures lost ground on Tuesday, falling for a second session on slowing demand from top importers and the crude oil market facing headwinds.
* U.S. soybean futures climbed to a 1-1/2-week high on Tuesday while wheat and corn each gained about 1 percent, boosted by investor short-covering and a backlog of export loadings at Brazilian ports.
* Brent oil fell almost 4 percent on Tuesday, erasing early gains after top producers Russia and Saudi Arabia dashed expectations of an outright supply cut by agreeing only to freeze output if other big exporters joined them.
MARKET NEWS
* Global equity markets rallied on Tuesday as investors engaged in bargain hunting and shrugged off a downturn in oil prices after hopes for an agreement among top producers to freeze output faded.
RELATED
> FOB Gulf Grain-Soybean premiums mostly steady as CIF bids firm
> European feeds-Soymeal up with CBOT on technical buying
> European vegoils-Palm oil down on slowing exports
> U.S. Cash Soymeal-Rail, truck market flat; supplies tight
> U.S. Jan soybean crush drops below trade expectations - NOPA
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 0009 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 4970 -26.00 4950 4980 230124
CHINA SOYOIL MAY6 5770 -40.00 5756 5784 126688
CBOT SOY OIL MAR6 31.61 +1.50 0.00 0.00 0
INDIA PALM OIL FEB6 481.80 +1.50 479.40 485.50 2033
INDIA SOYOIL FEB6 616.80 -0.70 616.80 621.00 3700
NYMEX CRUDE MAR6 29.36 +0.32 29.06 29.38 1881
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 lost ground on Tuesday, falling for a second session on slowing demand from top importers and the crude oil market facing headwinds.
* U.S. soybean futures climbed to a 1-1/2-week high on Tuesday while wheat and corn each gained about 1 percent, boosted by investor short-covering and a backlog of export loadings at Brazilian ports.
* Brent oil fell almost 4 percent on Tuesday, erasing early gains after top producers Russia and Saudi Arabia dashed expectations of an outright supply cut by agreeing only to freeze output if other big exporters joined them.
MARKET NEWS
* Global equity markets rallied on Tuesday as investors engaged in bargain hunting and shrugged off a downturn in oil prices after hopes for an agreement among top producers to freeze output faded.
RELATED
> FOB Gulf Grain-Soybean premiums mostly steady as CIF bids firm
> European feeds-Soymeal up with CBOT on technical buying
> European vegoils-Palm oil down on slowing exports
> U.S. Cash Soymeal-Rail, truck market flat; supplies tight
> U.S. Jan soybean crush drops below trade expectations - NOPA
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 0009 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 4970 -26.00 4950 4980 230124
CHINA SOYOIL MAY6 5770 -40.00 5756 5784 126688
CBOT SOY OIL MAR6 31.61 +1.50 0.00 0.00 0
INDIA PALM OIL FEB6 481.80 +1.50 479.40 485.50 2033
INDIA SOYOIL FEB6 616.80 -0.70 616.80 621.00 3700
NYMEX CRUDE MAR6 29.36 +0.32 29.06 29.38 1881
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