MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Dec 20
VEGOILS-Market Factors to Watch Dec 20
20/12/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures fell for a second straight session on Monday after earlier touching a four-and-a-half-year high hit in the previous session, as the market weakened on expectations that data due out on Tuesday will show a fall in export demand.
* U.S. soybean, corn and wheat futures eased on Monday, weighed down by profit-taking and expectations for more crop-friendly rainfall in Argentina.
* Oil prices were little changed on Monday in quiet pre-Christmas trade as the market waited to see whether U.S. production from shale fields would grow enough to offset planned output cuts by OPEC, Russia and other producers next year.
MARKET NEWS
* Stocks edged higher worldwide on Monday as Wall Street extended a rally that has pushed U.S. stocks near all-time highs, while the dollar got a boost from Federal Reserve Chair Janet Yellen who sounded optimistic about the U.S. labor market.
RELATED
> Vale sells fertilizer unit to Mosaic, to become top shareholder
> China to further cut corn planting to trim stocks - state media
> Warm autumn makes European crops fragile to cold snap - MARS
> By shielding Asia from supply cuts, OPEC risks prolonging fuel glut
> BP splashes out on deals to beef up oil, gas reserves
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 6328 -134.00 6262 6374 466360
CHINA SOYOIL MAY7 7162 -102.00 7106 7196 383210
CBOT SOY OIL JAN7 36.56 -4.00 0 0 0
INDIA PALM OIL DEC6 563.50 -4.00 560.80 575.5 2142
INDIA SOYOIL DEC6 727.7 -1.35 727 731.2 2150
NYMEX CRUDE JAN7 52.11 -0.01 52.09 52.24 211
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 for a second straight session on Monday after earlier touching a four-and-a-half-year high hit in the previous session, as the market weakened on expectations that data due out on Tuesday will show a fall in export demand.
* U.S. soybean, corn and wheat futures eased on Monday, weighed down by profit-taking and expectations for more crop-friendly rainfall in Argentina.
* Oil prices were little changed on Monday in quiet pre-Christmas trade as the market waited to see whether U.S. production from shale fields would grow enough to offset planned output cuts by OPEC, Russia and other producers next year.
MARKET NEWS
* Stocks edged higher worldwide on Monday as Wall Street extended a rally that has pushed U.S. stocks near all-time highs, while the dollar got a boost from Federal Reserve Chair Janet Yellen who sounded optimistic about the U.S. labor market.
RELATED
> Vale sells fertilizer unit to Mosaic, to become top shareholder
> China to further cut corn planting to trim stocks - state media
> Warm autumn makes European crops fragile to cold snap - MARS
> By shielding Asia from supply cuts, OPEC risks prolonging fuel glut
> BP splashes out on deals to beef up oil, gas reserves
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 6328 -134.00 6262 6374 466360
CHINA SOYOIL MAY7 7162 -102.00 7106 7196 383210
CBOT SOY OIL JAN7 36.56 -4.00 0 0 0
INDIA PALM OIL DEC6 563.50 -4.00 560.80 575.5 2142
INDIA SOYOIL DEC6 727.7 -1.35 727 731.2 2150
NYMEX CRUDE JAN7 52.11 -0.01 52.09 52.24 211
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