MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Dec 21
VEGOILS-Market Factors to Watch Dec 21
21/12/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures fell on Tuesday, reversing last week's gains, as rival oils fell and poor export data spooked the market.
* U.S. soybean futures tumbled to a nearly one-month low on Tuesday, as rain in Argentina's dry crop belts kept South America on track for a bumper harvest.
* Oil prices rose on Tuesday but settled below session highs after Libya announced the reopening of pipelines after a two-year blockade that ended earlier this month.
MARKET NEWS
* The U.S. dollar was encamped near 14-year peaks on Wednesday as global yield spreads moved inexorably in its favour, while a falling yen lifted Japanese shares to a one-year top.
RELATED
> Chinese farmers bolster bird flu defences as Asia outbreaks, and jitters, spread
> Egypt's GASC says buys 360,000 tonnes of wheat in tender
> Libya's NOC says oil pipelines reopened, expects 270,000 bpd boost in 3 months
> Obama bans new oil, gas drilling off Alaska, part of Atlantic coast
> Argentina soy farmers, seed sellers see progress in royalty talks
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Dec 1-25 palm oil export data on Dec 25.
> Cargo surveyor SGS releases Malaysia's Dec 1-25 palm oil export data on Dec 25.
Palm, soy and crude oil prices at 0033 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 6230 -64.00 6190 6286 352178
CHINA SOYOIL MAY7 7076 -46.00 7038 7110 201146
CBOT SOY OIL JAN7 36.06 +2.30 0 0 0
INDIA PALM OIL DEC6 564.80 +2.30 556.90 565 1090
INDIA SOYOIL JAN7 719.65 -3.70 716.3 721.35 31910
NYMEX CRUDE FEB7 53.54 +0.24 53.44 53.60 4529
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 Tuesday, reversing last week's gains, as rival oils fell and poor export data spooked the market.
* U.S. soybean futures tumbled to a nearly one-month low on Tuesday, as rain in Argentina's dry crop belts kept South America on track for a bumper harvest.
* Oil prices rose on Tuesday but settled below session highs after Libya announced the reopening of pipelines after a two-year blockade that ended earlier this month.
MARKET NEWS
* The U.S. dollar was encamped near 14-year peaks on Wednesday as global yield spreads moved inexorably in its favour, while a falling yen lifted Japanese shares to a one-year top.
RELATED
> Chinese farmers bolster bird flu defences as Asia outbreaks, and jitters, spread
> Egypt's GASC says buys 360,000 tonnes of wheat in tender
> Libya's NOC says oil pipelines reopened, expects 270,000 bpd boost in 3 months
> Obama bans new oil, gas drilling off Alaska, part of Atlantic coast
> Argentina soy farmers, seed sellers see progress in royalty talks
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Dec 1-25 palm oil export data on Dec 25.
> Cargo surveyor SGS releases Malaysia's Dec 1-25 palm oil export data on Dec 25.
Palm, soy and crude oil prices at 0033 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 6230 -64.00 6190 6286 352178
CHINA SOYOIL MAY7 7076 -46.00 7038 7110 201146
CBOT SOY OIL JAN7 36.06 +2.30 0 0 0
INDIA PALM OIL DEC6 564.80 +2.30 556.90 565 1090
INDIA SOYOIL JAN7 719.65 -3.70 716.3 721.35 31910
NYMEX CRUDE FEB7 53.54 +0.24 53.44 53.60 4529
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