MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Dec 22
VEGOILS-Market Factors to Watch Dec 22
22/12/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures edged up on Wednesday, breaking a three-day losing streak as traders look to square their positions ahead of the holidays.
* U.S. soybean futures rose on Wednesday as the market rebounded from its lowest level in nearly a month amid lingering concerns about risks from unfavorable crop weather in South America.
* Oil futures fell on Wednesday after Libya said it expects to boost production over the next few months and a report showing a surprise build in U.S. crude inventories last week.
MARKET NEWS
* Asian shares struggled on Thursday, taking their cues from a lacklustre day on Wall Street as investors locked in gains in thin trade ahead of the upcoming holidays.
RELATED
> China's top corn producer to cut toll fees to ease congestion
> New Japan bird flu outbreak brings fresh cull of chickens
> Shipping faces threat from EU of unilateral levy on carbon emissions
> U.S. crude stocks rise unexpectedly, product inventories down -EIA
> Libya's Sharara oilfield resumes production after pipeline blockade lifted
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 0041 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 6268 +18.00 6260 6306 204638
CHINA SOYOIL MAY7 7110 +22.00 7096 7126 116746
CBOT SOY OIL JAN7 36.04 +3.40 0 0 0
INDIA PALM OIL DEC6 567.80 +3.40 564.80 568 648
INDIA SOYOIL JAN7 719.5 -0.30 718.7 721.8 17210
NYMEX CRUDE FEB7 52.55 +0.06 52.50 52.62 2451
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 edged up on Wednesday, breaking a three-day losing streak as traders look to square their positions ahead of the holidays.
* U.S. soybean futures rose on Wednesday as the market rebounded from its lowest level in nearly a month amid lingering concerns about risks from unfavorable crop weather in South America.
* Oil futures fell on Wednesday after Libya said it expects to boost production over the next few months and a report showing a surprise build in U.S. crude inventories last week.
MARKET NEWS
* Asian shares struggled on Thursday, taking their cues from a lacklustre day on Wall Street as investors locked in gains in thin trade ahead of the upcoming holidays.
RELATED
> China's top corn producer to cut toll fees to ease congestion
> New Japan bird flu outbreak brings fresh cull of chickens
> Shipping faces threat from EU of unilateral levy on carbon emissions
> U.S. crude stocks rise unexpectedly, product inventories down -EIA
> Libya's Sharara oilfield resumes production after pipeline blockade lifted
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 0041 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 6268 +18.00 6260 6306 204638
CHINA SOYOIL MAY7 7110 +22.00 7096 7126 116746
CBOT SOY OIL JAN7 36.04 +3.40 0 0 0
INDIA PALM OIL DEC6 567.80 +3.40 564.80 568 648
INDIA SOYOIL JAN7 719.5 -0.30 718.7 721.8 17210
NYMEX CRUDE FEB7 52.55 +0.06 52.50 52.62 2451
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