MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Dec 6
VEGOILS-Market Factors to Watch Dec 6
06/12/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm futures hit their highest level in over four years on Monday, and saw their biggest daily gain in nearly a month, as lower output and stronger rival soyoil aided market sentiment.
* U.S. soybean futures rose 1.5 percent on Monday, snapping a four-session fall, as healthy overseas demand and rallies in Asian oilseed markets countered pressure from large global supplies, traders said.
* U.S. crude futures strengthened Monday before retreating in post-settlement trade as the market lost confidence OPEC cuts would be sufficient to reduce oversupply given increased U.S. drilling.
MARKET NEWS
* Asian stocks opened higher on the back of a strong Wall Street with markets discounting the potential impact of Italy's referendum vote, while U.S. Treasury yields firmed as robust economic data pointed to an interest rate hike next week.
RELATED
> FCStone cuts global sugar supply deficit view by 2.2 mln tonnes
> U.S. commodities regulator sidesteps finalizing new rules
> China stakes claim in Mexico oil opening at deep water auction
> Iran aims for oil, gas fields tender after January
> Russia's Rosneft offers $9.4 bln in local bonds and eyes Egyptian investment
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 0057 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 6362 +30.00 6358 6434 363142
CHINA SOYOIL MAY7 7168 -6.00 7166 7236 259326
CBOT SOY OIL JAN7 37.67 +7.60 0 0 0
INDIA PALM OIL DEC6 562.60 +7.60 557.50 565.2 1742
INDIA SOYOIL DEC6 735.85 +3.40 732.1 738.9 9370
NYMEX CRUDE JAN7 51.21 -0.58 50.92 51.38 9485
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 hit their highest level in over four years on Monday, and saw their biggest daily gain in nearly a month, as lower output and stronger rival soyoil aided market sentiment.
* U.S. soybean futures rose 1.5 percent on Monday, snapping a four-session fall, as healthy overseas demand and rallies in Asian oilseed markets countered pressure from large global supplies, traders said.
* U.S. crude futures strengthened Monday before retreating in post-settlement trade as the market lost confidence OPEC cuts would be sufficient to reduce oversupply given increased U.S. drilling.
MARKET NEWS
* Asian stocks opened higher on the back of a strong Wall Street with markets discounting the potential impact of Italy's referendum vote, while U.S. Treasury yields firmed as robust economic data pointed to an interest rate hike next week.
RELATED
> FCStone cuts global sugar supply deficit view by 2.2 mln tonnes
> U.S. commodities regulator sidesteps finalizing new rules
> China stakes claim in Mexico oil opening at deep water auction
> Iran aims for oil, gas fields tender after January
> Russia's Rosneft offers $9.4 bln in local bonds and eyes Egyptian investment
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 0057 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 6362 +30.00 6358 6434 363142
CHINA SOYOIL MAY7 7168 -6.00 7166 7236 259326
CBOT SOY OIL JAN7 37.67 +7.60 0 0 0
INDIA PALM OIL DEC6 562.60 +7.60 557.50 565.2 1742
INDIA SOYOIL DEC6 735.85 +3.40 732.1 738.9 9370
NYMEX CRUDE JAN7 51.21 -0.58 50.92 51.38 9485
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