MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Dec 16
VEGOILS-Market Factors to Watch Dec 16
16/12/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures rose to the highest in 4-1/2-years on Thursday evening, charting a third straight session of gains on a weaker ringgit MYR= and tight supplies.
* U.S. soybean futures rose on Thursday, turning higher after testing key technical support levels, traders said.
* Oil settled little changed on Thursday after sliding to its lowest level in a week in volatile trade, but a surging dollar did not pressure prices below technical support levels as OPEC members told customers they would cut crude supplies.
MARKET NEWS
* The dollar hit a 14-year high and bond yields rose broadly on Thursday, extending gains from a day earlier when the Federal Reserve hiked U.S. interest rates and signaled increases would follow at a faster pace next year.
RELATED
> Chemical companies pitch bug-killing options amid neonic farm bans
> Chinese firm begins testing GMO corn seeds in U.S. greenhouse
> Informa raises U.S. 2017 soy plantings forecast -trade
> WIDER IMAGE-Railway to nowhere shows Brazil's infrastructure woes
> Bunge bulks up in Turkey, buying olive oil and seed firm Ana Gida
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Dec 1-20 palm oil export data on Dec 20.
> Cargo surveyor SGS releases Malaysia's Dec 1-20 palm oil export data on Dec 20.
Palm, soy and crude oil prices at 0050 GMT
Contract Month Last Change Low High Volume
MY PALM OIL JAN7 0 +0.00 0 0 0
MY PALM OIL FEB7 0 +0.00 0 0 0
MY PALM OIL MAR7 0 +0.00 0 0 0
CHINA PALM OLEIN MAY7 6462 +92.00 6390 6474 345474
CHINA SOYOIL MAY7 7210 +82.00 7140 7218 219784
CBOT SOY OIL JAN7 36.74 +6.10 0 0 0
INDIA PALM OIL DEC6 570.40 +6.10 567.70 571.5 1930
INDIA SOYOIL DEC6 730.5 +2.20 729.5 731.9 3310
NYMEX CRUDE JAN7 51.12 +0.22 51.04 51.27 2871
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 rose to the highest in 4-1/2-years on Thursday evening, charting a third straight session of gains on a weaker ringgit MYR= and tight supplies.
* U.S. soybean futures rose on Thursday, turning higher after testing key technical support levels, traders said.
* Oil settled little changed on Thursday after sliding to its lowest level in a week in volatile trade, but a surging dollar did not pressure prices below technical support levels as OPEC members told customers they would cut crude supplies.
MARKET NEWS
* The dollar hit a 14-year high and bond yields rose broadly on Thursday, extending gains from a day earlier when the Federal Reserve hiked U.S. interest rates and signaled increases would follow at a faster pace next year.
RELATED
> Chemical companies pitch bug-killing options amid neonic farm bans
> Chinese firm begins testing GMO corn seeds in U.S. greenhouse
> Informa raises U.S. 2017 soy plantings forecast -trade
> WIDER IMAGE-Railway to nowhere shows Brazil's infrastructure woes
> Bunge bulks up in Turkey, buying olive oil and seed firm Ana Gida
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Dec 1-20 palm oil export data on Dec 20.
> Cargo surveyor SGS releases Malaysia's Dec 1-20 palm oil export data on Dec 20.
Palm, soy and crude oil prices at 0050 GMT
Contract Month Last Change Low High Volume
MY PALM OIL JAN7 0 +0.00 0 0 0
MY PALM OIL FEB7 0 +0.00 0 0 0
MY PALM OIL MAR7 0 +0.00 0 0 0
CHINA PALM OLEIN MAY7 6462 +92.00 6390 6474 345474
CHINA SOYOIL MAY7 7210 +82.00 7140 7218 219784
CBOT SOY OIL JAN7 36.74 +6.10 0 0 0
INDIA PALM OIL DEC6 570.40 +6.10 567.70 571.5 1930
INDIA SOYOIL DEC6 730.5 +2.20 729.5 731.9 3310
NYMEX CRUDE JAN7 51.12 +0.22 51.04 51.27 2871
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