MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Dec 27
VEGOILS-Market Factors to Watch Dec 27
27/12/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil ended Friday's trade 0.52 percent lower, dragged down by declines in rival oils but still supported by short covering in the market.
* Soybeans, corn and wheat prices slipped on Friday in a shortened trading session before the Christmas holiday and registered big weekly losses, weighed down by hefty global supplies.
* U.S. oil prices extended gains on Tuesday in post-Christmas trading, as OPEC and non-OPEC members are set to start curbing output in less than a week to support oil prices.
MARKET NEWS
* Key stock indexes around the world were little changed on Friday, as were the U.S. dollar and U.S. Treasury yields, in low volume trading ahead of the Christmas holiday weekend.
RELATED
> Malaysia's Dec 1 - 25 palm oil exports fall 5.6 pct -ITS
> Malaysia's Felda to buy 37 pct stake in Eagle High Plantations for $505.4 mln
> Rains in Argentina miss southeast Buenos Aires soy areas
> Indonesia to appeal WTO ruling on food import barriers
> U.S. wheat farmers fret over failing market hedges as incomes slump
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Dec 1-31 palm oil export data on Dec 31.
> Cargo surveyor SGS releases Malaysia's Dec 1-31 palm oil export data on Dec 31.
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 6096 +10.00 6080 6160 239248
CHINA SOYOIL MAY7 6862 -8.00 6854 6910 120604
CBOT SOY OIL MAR7 34.88 +2.90 0 0 0
INDIA PALM OIL DEC6 569.60 +2.90 565.50 570.9 539
INDIA SOYOIL JAN7 712.15 +4.15 707.5 714.95 20620
NYMEX CRUDE FEB7 53.18 +0.16 53.13 53.34 3342
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 ended Friday's trade 0.52 percent lower, dragged down by declines in rival oils but still supported by short covering in the market.
* Soybeans, corn and wheat prices slipped on Friday in a shortened trading session before the Christmas holiday and registered big weekly losses, weighed down by hefty global supplies.
* U.S. oil prices extended gains on Tuesday in post-Christmas trading, as OPEC and non-OPEC members are set to start curbing output in less than a week to support oil prices.
MARKET NEWS
* Key stock indexes around the world were little changed on Friday, as were the U.S. dollar and U.S. Treasury yields, in low volume trading ahead of the Christmas holiday weekend.
RELATED
> Malaysia's Dec 1 - 25 palm oil exports fall 5.6 pct -ITS
> Malaysia's Felda to buy 37 pct stake in Eagle High Plantations for $505.4 mln
> Rains in Argentina miss southeast Buenos Aires soy areas
> Indonesia to appeal WTO ruling on food import barriers
> U.S. wheat farmers fret over failing market hedges as incomes slump
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Dec 1-31 palm oil export data on Dec 31.
> Cargo surveyor SGS releases Malaysia's Dec 1-31 palm oil export data on Dec 31.
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 6096 +10.00 6080 6160 239248
CHINA SOYOIL MAY7 6862 -8.00 6854 6910 120604
CBOT SOY OIL MAR7 34.88 +2.90 0 0 0
INDIA PALM OIL DEC6 569.60 +2.90 565.50 570.9 539
INDIA SOYOIL JAN7 712.15 +4.15 707.5 714.95 20620
NYMEX CRUDE FEB7 53.18 +0.16 53.13 53.34 3342
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