MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Feb 22
VEGOILS-Market Factors to Watch Feb 22
22/02/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures retreated on Friday evening to give up gains made earlier in the day as traders expected to see weaker February export demand data in a report on Saturday.
* U.S. grain and soybeans were roughly flat on Friday, stabilizing amid a lack of fresh fundamental news following steep gains earlier this week tied mostly to investor short-covering,
traders and analysts said.
* Oil prices fell 4 percent on Friday, with Brent down a third straight week, as record high U.S. crude stockpiles intensified worries that a plan to freeze world output will do little or nothing to reduce massive oil supplies already in the market.
MARKET NEWS
* Asian share markets got off to a cautious start on Monday as investors await a rush of February industry surveys to take the pulse of the global economy, while sterling suffered on concerns the UK might yet vote to leave the European Union.
RELATED
> Malaysia's Feb 1-20 palm oil exports down 10.8 pct m/m
> Indian sugar exports slow to Myanmar, smuggling gateway to China
> Egypt's GASC says buys 240,000 T French and Russian wheat
> Russia considers export duty exemption for some wheat types - RIA
> Argentina declares flood emergency in six key farm provinces
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Feb 1-25 palm oil export data on Feb 25.
> Cargo surveyor SGS releases Malaysia's Feb 1-25 palm oil export data on Feb 25.
Palm, soy and crude oil prices at 0031 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 5024 +20.00 4986 5026 339526
CHINA SOYOIL MAY6 5778 +22.00 5742 5780 145118
CBOT SOY OIL MAR6 31.39 +3.00 0.00 0.00 0
INDIA PALM OIL FEB6 485.70 +3.00 484.00 490.40 1027
INDIA SOYOIL MAR6 627.30 -3.35 626.00 632.90 48630
NYMEX CRUDE MAR6 29.71 +0.07 29.48 29.85 93
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 retreated on Friday evening to give up gains made earlier in the day as traders expected to see weaker February export demand data in a report on Saturday.
* U.S. grain and soybeans were roughly flat on Friday, stabilizing amid a lack of fresh fundamental news following steep gains earlier this week tied mostly to investor short-covering,
traders and analysts said.
* Oil prices fell 4 percent on Friday, with Brent down a third straight week, as record high U.S. crude stockpiles intensified worries that a plan to freeze world output will do little or nothing to reduce massive oil supplies already in the market.
MARKET NEWS
* Asian share markets got off to a cautious start on Monday as investors await a rush of February industry surveys to take the pulse of the global economy, while sterling suffered on concerns the UK might yet vote to leave the European Union.
RELATED
> Malaysia's Feb 1-20 palm oil exports down 10.8 pct m/m
> Indian sugar exports slow to Myanmar, smuggling gateway to China
> Egypt's GASC says buys 240,000 T French and Russian wheat
> Russia considers export duty exemption for some wheat types - RIA
> Argentina declares flood emergency in six key farm provinces
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Feb 1-25 palm oil export data on Feb 25.
> Cargo surveyor SGS releases Malaysia's Feb 1-25 palm oil export data on Feb 25.
Palm, soy and crude oil prices at 0031 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 5024 +20.00 4986 5026 339526
CHINA SOYOIL MAY6 5778 +22.00 5742 5780 145118
CBOT SOY OIL MAR6 31.39 +3.00 0.00 0.00 0
INDIA PALM OIL FEB6 485.70 +3.00 484.00 490.40 1027
INDIA SOYOIL MAR6 627.30 -3.35 626.00 632.90 48630
NYMEX CRUDE MAR6 29.71 +0.07 29.48 29.85 93
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