MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Dec 2
VEGOILS-Market Factors to Watch Dec 2
02/12/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm futures climbed to their highest in a week on Thursday, recording a second consecutive session of gains as stronger crude oil supported the market.
* U.S. wheat futures fell on Thursday for a sixth straight session, pressured by the expanding harvest of crops in the Southern Hemisphere that should add to plentiful global grain stockpiles, analysts said.
* Oil prices surged 4 percent on Thursday, with Brent crude at its highest in about 16 months, extending gains after OPEC and Russia agreed to restrict output to reduce the global supply glut more quickly.
MARKET NEWS
* Brent crude futures rose to a 16-month high on Thursday on the heels of OPEC's agreement a day earlier to cut oil output, while Treasury yields continued to climb following the weakest monthly performance for global bonds in almost 13 years.
RELATED
> EXCLUSIVE-How Putin, Khamenei and Saudi prince got OPEC deal done
> Red-letter day for oil spreads, as market now sees 2017 rebalancing
> PREVIEW-Canadian wheat, canola crops weather snow, top last harvest
> ADM sells stake in Australia's GrainCorp
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Nov 1-25 palm oil export data on Dec 10.
> Cargo surveyor SGS releases Malaysia's Nov 1-25 palm oil export data on Dec 10.
Palm, soy and crude oil prices at 0036 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 MAY7 6232 -34.00 6216 6296 431788
CHINA SOYOIL MAY7 7122 -72.00 7102 7190 303210
CBOT SOY OIL JAN7 37.85 +6.50 0 0 0
INDIA PALM OIL DEC6 559.50 +6.50 554.30 559.5 1437
INDIA SOYOIL DEC6 732 +9.65 721.3 732 20470
NYMEX CRUDE JAN7 51.12 +0.06 50.95 51.30 6429
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 futures climbed to their highest in a week on Thursday, recording a second consecutive session of gains as stronger crude oil supported the market.
* U.S. wheat futures fell on Thursday for a sixth straight session, pressured by the expanding harvest of crops in the Southern Hemisphere that should add to plentiful global grain stockpiles, analysts said.
* Oil prices surged 4 percent on Thursday, with Brent crude at its highest in about 16 months, extending gains after OPEC and Russia agreed to restrict output to reduce the global supply glut more quickly.
MARKET NEWS
* Brent crude futures rose to a 16-month high on Thursday on the heels of OPEC's agreement a day earlier to cut oil output, while Treasury yields continued to climb following the weakest monthly performance for global bonds in almost 13 years.
RELATED
> EXCLUSIVE-How Putin, Khamenei and Saudi prince got OPEC deal done
> Red-letter day for oil spreads, as market now sees 2017 rebalancing
> PREVIEW-Canadian wheat, canola crops weather snow, top last harvest
> ADM sells stake in Australia's GrainCorp
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Nov 1-25 palm oil export data on Dec 10.
> Cargo surveyor SGS releases Malaysia's Nov 1-25 palm oil export data on Dec 10.
Palm, soy and crude oil prices at 0036 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 MAY7 6232 -34.00 6216 6296 431788
CHINA SOYOIL MAY7 7122 -72.00 7102 7190 303210
CBOT SOY OIL JAN7 37.85 +6.50 0 0 0
INDIA PALM OIL DEC6 559.50 +6.50 554.30 559.5 1437
INDIA SOYOIL DEC6 732 +9.65 721.3 732 20470
NYMEX CRUDE JAN7 51.12 +0.06 50.95 51.30 6429
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