MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Jan 3
VEGOILS-Market Factors to Watch Jan 3
03/01/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures rose in late trade on Friday to close the year up 25.1 percent for the strongest annual gain since 2010.
* U.S. wheat futures firmed on Friday on better-than-expected export data and short-covering at year's end, analysts said, but the market still posted an annual decline of about 13 percent.
* Oil prices settled slightly lower on Friday, the year's last trading day, but attained their biggest annual gain since 2009, after OPEC and partners agreed to cut output to reduce a supply overhang that has depressed prices for two years.
MARKET NEWS
* Euro zone stocks opened 2017 by climbing to their highest in more than a year on Monday after data showed manufacturers in the currency bloc ramped up activity at the fastest pace in more than five years.
RELATED
> Trump leaning toward Georgia ex-gov for agriculture head -official
> Tax cut seen lifting soy planting in No.3 exporter Argentina
> Malaysia's Dec palm oil exports fall 5.7 pct -ITS
> Factory activity expands again in Vietnam, contracts in Indonesia, Malaysia
> Oil, metals post stellar 2016 gains on output cuts, demand hopes
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Dec 1-31 palm oil export data on Jan 10.
> Cargo surveyor SGS releases Malaysia's Dec 1-31 palm oil export data on Jan 10.
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 0 +0.00 0 0 0
CHINA SOYOIL MAY7 0 +0.00 0 0 0
CBOT SOY OIL MAR7 34.66 +8.50 0 0 0
INDIA PALM OIL JAN7 579.00 +8.50 567.10 579.8 1866
INDIA SOYOIL JAN7 727 +10.95 716.8 727.5 22870
NYMEX CRUDE FEB7 54.01 +0.29 54.00 54.20 5351
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 rose in late trade on Friday to close the year up 25.1 percent for the strongest annual gain since 2010.
* U.S. wheat futures firmed on Friday on better-than-expected export data and short-covering at year's end, analysts said, but the market still posted an annual decline of about 13 percent.
* Oil prices settled slightly lower on Friday, the year's last trading day, but attained their biggest annual gain since 2009, after OPEC and partners agreed to cut output to reduce a supply overhang that has depressed prices for two years.
MARKET NEWS
* Euro zone stocks opened 2017 by climbing to their highest in more than a year on Monday after data showed manufacturers in the currency bloc ramped up activity at the fastest pace in more than five years.
RELATED
> Trump leaning toward Georgia ex-gov for agriculture head -official
> Tax cut seen lifting soy planting in No.3 exporter Argentina
> Malaysia's Dec palm oil exports fall 5.7 pct -ITS
> Factory activity expands again in Vietnam, contracts in Indonesia, Malaysia
> Oil, metals post stellar 2016 gains on output cuts, demand hopes
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Dec 1-31 palm oil export data on Jan 10.
> Cargo surveyor SGS releases Malaysia's Dec 1-31 palm oil export data on Jan 10.
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 0 +0.00 0 0 0
CHINA SOYOIL MAY7 0 +0.00 0 0 0
CBOT SOY OIL MAR7 34.66 +8.50 0 0 0
INDIA PALM OIL JAN7 579.00 +8.50 567.10 579.8 1866
INDIA SOYOIL JAN7 727 +10.95 716.8 727.5 22870
NYMEX CRUDE FEB7 54.01 +0.29 54.00 54.20 5351
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