MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Jan 4
VEGOILS-Market Factors to Watch Jan 4
04/01/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures opened the year strongly on Tuesday, rising to a two-week high on weak output and a firm performance by fellow oilseed soy.
* U.S. soybean futures fell to a six-week low on Tuesday on improving South American crop prospects and uncertainty about export demand from China, analysts said.
* Oil prices slid more than 2 percent on the first trading day of 2017, knocked off 18-month highs hit in early trade as the U.S. dollar rallied to its highest level since 2002 and traders took profits.
MARKET NEWS
* The U.S. dollar held near 14-year peaks on Wednesday as an abundance of upbeat global economic data boosted Wall Street and signs of quickening inflation dented fixed-income debt.
RELATED
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> ndia sugar mills shut early as drought hits cane crop - trade body
> Philippines' Q4 farm output may have dropped 2 pct on year - minister
> Oil business seen in strong position as Trump tackles tax reform
> Smog returns, but Beijing says skies are getting cleaner
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 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 6238 -40.00 6232 6318 370934
CHINA SOYOIL MAY7 6908 -100.0 6896 6998 221618
CBOT SOY OIL MAR7 34.81 +3.20 0 0 0
INDIA PALM OIL JAN7 582.00 +3.20 575.50 583.7 2265
INDIA SOYOIL JAN7 726.55 -0.25 723.5 731 20680
NYMEX CRUDE FEB7 52.57 +0.24 52.45 52.65 3389
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 opened the year strongly on Tuesday, rising to a two-week high on weak output and a firm performance by fellow oilseed soy.
* U.S. soybean futures fell to a six-week low on Tuesday on improving South American crop prospects and uncertainty about export demand from China, analysts said.
* Oil prices slid more than 2 percent on the first trading day of 2017, knocked off 18-month highs hit in early trade as the U.S. dollar rallied to its highest level since 2002 and traders took profits.
MARKET NEWS
* The U.S. dollar held near 14-year peaks on Wednesday as an abundance of upbeat global economic data boosted Wall Street and signs of quickening inflation dented fixed-income debt.
RELATED
> EU regulators delay ChemChina/Syngenta merger decision to April 12
> ndia sugar mills shut early as drought hits cane crop - trade body
> Philippines' Q4 farm output may have dropped 2 pct on year - minister
> Oil business seen in strong position as Trump tackles tax reform
> Smog returns, but Beijing says skies are getting cleaner
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 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 6238 -40.00 6232 6318 370934
CHINA SOYOIL MAY7 6908 -100.0 6896 6998 221618
CBOT SOY OIL MAR7 34.81 +3.20 0 0 0
INDIA PALM OIL JAN7 582.00 +3.20 575.50 583.7 2265
INDIA SOYOIL JAN7 726.55 -0.25 723.5 731 20680
NYMEX CRUDE FEB7 52.57 +0.24 52.45 52.65 3389
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