MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Jan 6
VEGOILS-Market Factors to Watch Jan 6
06/01/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures fell for a second consecutive session on Thursday evening on the back of a stronger ringgit, and as it tracked weaker performing related oils on China's Dalian Commodity Exchange.
* U.S. wheat futures rose 1.6 percent to their highest in nearly six weeks on Thursday on a round of short-covering after weakening overnight, traders said.
* Oil prices were little changed on Friday after gaining nearly 1 percent the day before on news that Saudi Arabia had cut production to meet OPEC's agreement to reduce output.
MARKET NEWS
* Global equity prices shrugged off weakness on Wall Street to cling to gains after hitting their highest level since mid-2015 on Thursday, bolstered by strong Chinese data that added to optimism about global growth and inflation.
RELATED
> China confirms latest human death from H7N9 bird flu
> India to produce less sugar than expected as drought wilts cane crop
> INTERVIEW-Australia's Merricks Capital hot on wheat for 2017, cool on sugar, soybean
> Saudi Aramco explores Feb oil supply cuts of 3-7 pct to meet OPEC target
> OPEC oil output falls from record high ahead of planned cuts -Reuters survey
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 0043 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 6152 -18.00 6114 6168 171890
CHINA SOYOIL MAY7 6876 -16.00 6862 6886 89504
CBOT SOY OIL MAR7 35.22 -3.10 0 0 0
INDIA PALM OIL JAN7 583.70 -3.10 582.20 587.5 1321
INDIA SOYOIL JAN7 728.6 -1.30 727 731.45 13410
NYMEX CRUDE FEB7 53.72 -0.04 53.68 53.85 4982
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 fell for a second consecutive session on Thursday evening on the back of a stronger ringgit, and as it tracked weaker performing related oils on China's Dalian Commodity Exchange.
* U.S. wheat futures rose 1.6 percent to their highest in nearly six weeks on Thursday on a round of short-covering after weakening overnight, traders said.
* Oil prices were little changed on Friday after gaining nearly 1 percent the day before on news that Saudi Arabia had cut production to meet OPEC's agreement to reduce output.
MARKET NEWS
* Global equity prices shrugged off weakness on Wall Street to cling to gains after hitting their highest level since mid-2015 on Thursday, bolstered by strong Chinese data that added to optimism about global growth and inflation.
RELATED
> China confirms latest human death from H7N9 bird flu
> India to produce less sugar than expected as drought wilts cane crop
> INTERVIEW-Australia's Merricks Capital hot on wheat for 2017, cool on sugar, soybean
> Saudi Aramco explores Feb oil supply cuts of 3-7 pct to meet OPEC target
> OPEC oil output falls from record high ahead of planned cuts -Reuters survey
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 0043 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 6152 -18.00 6114 6168 171890
CHINA SOYOIL MAY7 6876 -16.00 6862 6886 89504
CBOT SOY OIL MAR7 35.22 -3.10 0 0 0
INDIA PALM OIL JAN7 583.70 -3.10 582.20 587.5 1321
INDIA SOYOIL JAN7 728.6 -1.30 727 731.45 13410
NYMEX CRUDE FEB7 53.72 -0.04 53.68 53.85 4982
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