MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Dec 19
VEGOILS-Market Factors to Watch Dec 19
19/12/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures fell from a four and a half year high in late trade on Friday, as it came under profit-taking pressure and corrected on softer rival oils on China's Dalian Commodity Exchange.
* U.S. soybean futures firmed on Friday, as a fresh export deal highlighted the robust overseas demand for the oilseed and also supported by lingering concerns about dry conditions in Argentina, traders said.
* Oil rose on Friday, edging closer to new 17-month highs, after Goldman Sachs boosted its price forecast for 2017 and producers showed signs of adhering to a global deal to reduce output.
MARKET NEWS
* The dollar and U.S. stocks dipped on Friday, taking a breather following this week's big move after the Federal Reserve signaled a faster pace of U.S. interest rate increases next year.
RELATED
> Regulator gives go ahead for China's first agricultural options
> As bruising year ends, U.S. refiners brace for more costly regulations
> China to scrap fuel export quotas for 'teapot' refineries - sources
> Storms, rouble restrain Russia's December grain exports - SovEcon
> CME seen needing second wind in EU wheat battle with Euronext
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 0031 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 6392 -84.00 6372 6464 349614
CHINA SOYOIL MAY7 7168 -36.00 7150 7214 218036
CBOT SOY OIL JAN7 36.74 -1.90 0 0 0
INDIA PALM OIL DEC6 567.80 -1.90 565.70 571.1 1110
INDIA SOYOIL DEC6 728 -2.55 727.5 732 2110
NYMEX CRUDE JAN7 52.07 +0.17 51.93 52.23 2313
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 from a four and a half year high in late trade on Friday, as it came under profit-taking pressure and corrected on softer rival oils on China's Dalian Commodity Exchange.
* U.S. soybean futures firmed on Friday, as a fresh export deal highlighted the robust overseas demand for the oilseed and also supported by lingering concerns about dry conditions in Argentina, traders said.
* Oil rose on Friday, edging closer to new 17-month highs, after Goldman Sachs boosted its price forecast for 2017 and producers showed signs of adhering to a global deal to reduce output.
MARKET NEWS
* The dollar and U.S. stocks dipped on Friday, taking a breather following this week's big move after the Federal Reserve signaled a faster pace of U.S. interest rate increases next year.
RELATED
> Regulator gives go ahead for China's first agricultural options
> As bruising year ends, U.S. refiners brace for more costly regulations
> China to scrap fuel export quotas for 'teapot' refineries - sources
> Storms, rouble restrain Russia's December grain exports - SovEcon
> CME seen needing second wind in EU wheat battle with Euronext
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 0031 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 6392 -84.00 6372 6464 349614
CHINA SOYOIL MAY7 7168 -36.00 7150 7214 218036
CBOT SOY OIL JAN7 36.74 -1.90 0 0 0
INDIA PALM OIL DEC6 567.80 -1.90 565.70 571.1 1110
INDIA SOYOIL DEC6 728 -2.55 727.5 732 2110
NYMEX CRUDE JAN7 52.07 +0.17 51.93 52.23 2313
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