MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Feb 18
VEGOILS-Market Factors to Watch Feb 18
18/02/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures recovered previous losses to gain on Wednesday as it rose nearly 1 percent on traders' forecasts that end-of-month stockpiles will draw down further during February.
* Chicago Board of Trade corn futures gained for the second straight day on Wednesday, as the grain market enjoyed a price bump from investors continuing to cover short positions and as crude oil prices rose.
* U.S. crude futures rose as much as 3 percent in early Asian trade on Thursday after Iran backed plans by Russia and Saudi Arabia to cap crude oil production at January levels, extending steep gains in the previous session.
MARKET NEWS
* Asian stocks rose on Thursday and safe-haven government bond prices fell as crude oil prices extended gains on hopes that big producers will cap production, improving investors' appetite for riskier assets.
RELATED
> FOB Gulf Grain-Soybean offers mixed, corn steady on export hopes
> U.S. Cash Grains-Corn, soy bids largely unchanged; farmers sell for cash flow
> Cargill to stop selling seeds, crop chemicals in Black Sea region
> European feeds-Soymeal down on good weather in South America
> More Brazil states may levy taxes on farm exports - CNA
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 0042 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 5012 +50.00 4986 5014 352780
CHINA SOYOIL MAY6 5784 +18.00 5770 5794 146194
CBOT SOY OIL MAR6 31.99 +7.40 0.00 0.00 0
INDIA PALM OIL FEB6 489.30 +7.40 481.50 489.30 1293
INDIA SOYOIL FEB6 618.15 +1.00 617.30 619.00 3030
NYMEX CRUDE MAR6 31.17 +0.51 31.17 31.72 4010
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 recovered previous losses to gain on Wednesday as it rose nearly 1 percent on traders' forecasts that end-of-month stockpiles will draw down further during February.
* Chicago Board of Trade corn futures gained for the second straight day on Wednesday, as the grain market enjoyed a price bump from investors continuing to cover short positions and as crude oil prices rose.
* U.S. crude futures rose as much as 3 percent in early Asian trade on Thursday after Iran backed plans by Russia and Saudi Arabia to cap crude oil production at January levels, extending steep gains in the previous session.
MARKET NEWS
* Asian stocks rose on Thursday and safe-haven government bond prices fell as crude oil prices extended gains on hopes that big producers will cap production, improving investors' appetite for riskier assets.
RELATED
> FOB Gulf Grain-Soybean offers mixed, corn steady on export hopes
> U.S. Cash Grains-Corn, soy bids largely unchanged; farmers sell for cash flow
> Cargill to stop selling seeds, crop chemicals in Black Sea region
> European feeds-Soymeal down on good weather in South America
> More Brazil states may levy taxes on farm exports - CNA
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 0042 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 5012 +50.00 4986 5014 352780
CHINA SOYOIL MAY6 5784 +18.00 5770 5794 146194
CBOT SOY OIL MAR6 31.99 +7.40 0.00 0.00 0
INDIA PALM OIL FEB6 489.30 +7.40 481.50 489.30 1293
INDIA SOYOIL FEB6 618.15 +1.00 617.30 619.00 3030
NYMEX CRUDE MAR6 31.17 +0.51 31.17 31.72 4010
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