MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Dec 8
VEGOILS-Market Factors to Watch Dec 8
08/12/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures fell on Wednesday evening, their first decline in three sessions, dropping in a market correction and weighed down by a weaker performing rival soyoil.
* U.S. wheat and corn futures fell on Wednesday, pressured by plentiful world feedgrain supplies and profit-taking following light rallies a day earlier, traders said.
* Oil prices slid on Wednesday on bearish U.S. petroleum inventory data and doubts that production cuts promised by OPEC and Russia would be deep enough to end a supply overhang that has weighed on markets for more than two years.
MARKET NEWS
* Asian shares hopped higher on Thursday after Wall Street strode to new records and bonds rallied on wagers the European Central Bank would extend its asset buying campaign at a policy meeting later in the session.
RELATED
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> Tata Steel sweetens offer to UK workers, moves closer to merger
> Russia's Acron says no plans to sell Azoty stake, Canadian assets
> Kremlin says Glencore, Qatari fund to buy 19.5 pct stake in Rosneft
> Shell, Iran agree on future oil and gas development
> Rubber prices to stay firm on higher oil, rising demand -producers
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 0031 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 6360 -60.00 6312 6386 347328
CHINA SOYOIL MAY7 7200 -4.00 7132 7204 260690
CBOT SOY OIL JAN7 37.93 +7.00 0 0 0
INDIA PALM OIL DEC6 572.40 +7.00 564.10 572.4 1448
INDIA SOYOIL DEC6 737 +0.50 729 738.4 18990
NYMEX CRUDE JAN7 50.02 +0.25 49.84 50.02 4719
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 fell on Wednesday evening, their first decline in three sessions, dropping in a market correction and weighed down by a weaker performing rival soyoil.
* U.S. wheat and corn futures fell on Wednesday, pressured by plentiful world feedgrain supplies and profit-taking following light rallies a day earlier, traders said.
* Oil prices slid on Wednesday on bearish U.S. petroleum inventory data and doubts that production cuts promised by OPEC and Russia would be deep enough to end a supply overhang that has weighed on markets for more than two years.
MARKET NEWS
* Asian shares hopped higher on Thursday after Wall Street strode to new records and bonds rallied on wagers the European Central Bank would extend its asset buying campaign at a policy meeting later in the session.
RELATED
> Worst over for dry bulk shipping, recovery still fragile - owners
> Tata Steel sweetens offer to UK workers, moves closer to merger
> Russia's Acron says no plans to sell Azoty stake, Canadian assets
> Kremlin says Glencore, Qatari fund to buy 19.5 pct stake in Rosneft
> Shell, Iran agree on future oil and gas development
> Rubber prices to stay firm on higher oil, rising demand -producers
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 0031 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 6360 -60.00 6312 6386 347328
CHINA SOYOIL MAY7 7200 -4.00 7132 7204 260690
CBOT SOY OIL JAN7 37.93 +7.00 0 0 0
INDIA PALM OIL DEC6 572.40 +7.00 564.10 572.4 1448
INDIA SOYOIL DEC6 737 +0.50 729 738.4 18990
NYMEX CRUDE JAN7 50.02 +0.25 49.84 50.02 4719
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