MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Nov 23
VEGOILS-Market Factors to Watch Nov 23
23/11/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures extended gains into a second session on Tuesday evening, reaching a more than one-week high, supported by gains in rival soyoil on the Chicago Board of Trade and China's Dalian Commodity Exchange.
* Chicago Board of Trade soybean futures hit a four-month high on Tuesday on strength in Chinese soy markets and technical buying, analysts said.
* Oil ended little changed on Tuesday in volatile trade that saw prices rise and fall by $1 a barrel depending on the latest comment from OPEC officials at a technical conference in Viennaon whether the cartel members would agree to an output cut.
MARKET NEWS
* Asian stocks crept to one-week highs on Wednesday as investors tried to share in the exuberance of Wall Street, where the three main indices seized record peaks for a second straight session.
RELATED
> Argentina biodiesel producers fear losing access to U.S. market
> EU considering halving crop-based biofuels by 2030 - draft
> CME delays corn futures contract listings, eyes St. Louis delivery point
> Exporters sell U.S. soybean oil to China - USDA
> Malaysia's Felda Global Ventures says to rationalise operations
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Nov 1-25 palm oil export data on Nov 25.
> Cargo surveyor SGS releases Malaysia's Nov 1-25 palm oil export data on Nov 25.
Palm, soy and crude oil prices at 0037 GMT
Contract Month Last Change Low High Volume
MY PALM OIL DEC6 0 +0.00 0 0 0
MY PALM OIL JAN7 0 +0.00 0 0 0
MY PALM OIL FEB7 0 +0.00 0 0 0
CHINA PALM OLEIN JAN7 6242 -8.00 6172 6266 256564
CHINA SOYOIL JAN7 6742 +0.00 6700 6752 111912
CBOT SOY OIL DEC6 34.48 -0.20 0 0 0
INDIA PALM OIL NOV6 537.60 -0.20 534.50 542.7 970
INDIA SOYOIL DEC6 689.5 -0.05 684.6 694.35 22250
NYMEX CRUDE JAN7 48.12 +0.09 47.93 48.17 4086
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 into a second session on Tuesday evening, reaching a more than one-week high, supported by gains in rival soyoil on the Chicago Board of Trade and China's Dalian Commodity Exchange.
* Chicago Board of Trade soybean futures hit a four-month high on Tuesday on strength in Chinese soy markets and technical buying, analysts said.
* Oil ended little changed on Tuesday in volatile trade that saw prices rise and fall by $1 a barrel depending on the latest comment from OPEC officials at a technical conference in Viennaon whether the cartel members would agree to an output cut.
MARKET NEWS
* Asian stocks crept to one-week highs on Wednesday as investors tried to share in the exuberance of Wall Street, where the three main indices seized record peaks for a second straight session.
RELATED
> Argentina biodiesel producers fear losing access to U.S. market
> EU considering halving crop-based biofuels by 2030 - draft
> CME delays corn futures contract listings, eyes St. Louis delivery point
> Exporters sell U.S. soybean oil to China - USDA
> Malaysia's Felda Global Ventures says to rationalise operations
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Nov 1-25 palm oil export data on Nov 25.
> Cargo surveyor SGS releases Malaysia's Nov 1-25 palm oil export data on Nov 25.
Palm, soy and crude oil prices at 0037 GMT
Contract Month Last Change Low High Volume
MY PALM OIL DEC6 0 +0.00 0 0 0
MY PALM OIL JAN7 0 +0.00 0 0 0
MY PALM OIL FEB7 0 +0.00 0 0 0
CHINA PALM OLEIN JAN7 6242 -8.00 6172 6266 256564
CHINA SOYOIL JAN7 6742 +0.00 6700 6752 111912
CBOT SOY OIL DEC6 34.48 -0.20 0 0 0
INDIA PALM OIL NOV6 537.60 -0.20 534.50 542.7 970
INDIA SOYOIL DEC6 689.5 -0.05 684.6 694.35 22250
NYMEX CRUDE JAN7 48.12 +0.09 47.93 48.17 4086
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