MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Dec 23
VEGOILS-Market Factors to Watch Dec 23
23/12/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysia palm oil futures ended Thursday's trade lower, shedding more than 1 percent as sentiment tracked the softer performance of rival oils in Dalian and on the Chicago Board of Trade.
* U.S. soybean futures fell to a new one-month low below $10 a bushel on Thursday as forecasts for rain in Argentina dampened concerns about dryness hurting production there.
* Oil prices rose in subdued trading on Thursday, supported by strong U.S. economic data and optimism that crude producers would abide by an agreement to limit output.
MARKET NEWS
* Stock markets around the globe dipped and U.S. equities posted their first back-to-back daily declines of the month on Thursday as the rally that has sent Wall Street shares to record highs since Donald Trump's U.S. election victory paused ahead of the Christmas holiday weekend.
RELATED
> U.S. wheat farmers fret over failing market hedges as incomes slump
> China confirms third human bird flu infection, stirs fears of spread
> Argentina says wheat output to spike higher on strong yields
> Brazil kicks off early harvest of soybean crop
> U.S. refiners cash in on Mexico's record fuel imports
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Dec 1-25 palm oil export data on Dec 26.
> Cargo surveyor SGS releases Malaysia's Dec 1-25 palm oil export data on Dec 26.
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 6126 -114.00 6048 6164 404478
CHINA SOYOIL MAY7 6966 -94.00 6904 6984 281136
CBOT SOY OIL JAN7 34.79 -3.40 0 0 0
INDIA PALM OIL DEC6 563.50 -3.40 561.50 567.5 1000
INDIA SOYOIL JAN7 713.05 -6.40 712.5 717.5 32860
NYMEX CRUDE FEB7 52.65 -0.30 52.61 52.78 2116
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
* Malaysia palm oil futures ended Thursday's trade lower, shedding more than 1 percent as sentiment tracked the softer performance of rival oils in Dalian and on the Chicago Board of Trade.
* U.S. soybean futures fell to a new one-month low below $10 a bushel on Thursday as forecasts for rain in Argentina dampened concerns about dryness hurting production there.
* Oil prices rose in subdued trading on Thursday, supported by strong U.S. economic data and optimism that crude producers would abide by an agreement to limit output.
MARKET NEWS
* Stock markets around the globe dipped and U.S. equities posted their first back-to-back daily declines of the month on Thursday as the rally that has sent Wall Street shares to record highs since Donald Trump's U.S. election victory paused ahead of the Christmas holiday weekend.
RELATED
> U.S. wheat farmers fret over failing market hedges as incomes slump
> China confirms third human bird flu infection, stirs fears of spread
> Argentina says wheat output to spike higher on strong yields
> Brazil kicks off early harvest of soybean crop
> U.S. refiners cash in on Mexico's record fuel imports
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Dec 1-25 palm oil export data on Dec 26.
> Cargo surveyor SGS releases Malaysia's Dec 1-25 palm oil export data on Dec 26.
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 6126 -114.00 6048 6164 404478
CHINA SOYOIL MAY7 6966 -94.00 6904 6984 281136
CBOT SOY OIL JAN7 34.79 -3.40 0 0 0
INDIA PALM OIL DEC6 563.50 -3.40 561.50 567.5 1000
INDIA SOYOIL JAN7 713.05 -6.40 712.5 717.5 32860
NYMEX CRUDE FEB7 52.65 -0.30 52.61 52.78 2116
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