MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Jan 11
VEGOILS-Market Factors to Watch Jan 11
11/01/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures erased earlier gains to fall almost 1 percent on Tuesday due to higher than forecast inventory levels from a government report released during the session's midday break.
* Chicago Board of Trade soybean futures firmed on Tuesday, recovering from weakness in overnight trading on technical buying amid lingering concerns about weather in key South American growing regions.
* Oil prices fell 2 percent on Tuesday to the lowest in nearly a month, extending the previous session's sell-off as the U.S. dollar strengthened and doubts mounted over whether producing countries would implement a deal to cut output.
MARKET NEWS
* U.S. stocks end Tuesday mixed, while the dollar falls against the yen on investor caution ahead of a news conference by U.S. President-elect Donald Trump on Wednesday.
RELATED
> COLUMN-Soybean prices to come under pressure in 2017 -Braun
> Argentine farm belt seen benefiting from dry weather this week
> GRAINS-Prices curbed by ample supplies, U.S. data awaited
> Brazil 2016/17 soy crop seen at record 103.8 mln tonnes -Conab
> China's soy crushers slow buying due to tighter margins
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Jan 1-15 palm oil export data on Jan 15.
> Cargo surveyor SGS releases Malaysia's Jan 1-15 palm oil export data on Jan 15.
Palm, soy and crude oil prices at 2349 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 6194 +46.00 6142 6210 297868
CHINA SOYOIL MAY7 6900 +48.00 6850 6924 199914
CBOT SOY OIL MAR7 35.64 -2.00 0 0 0
INDIA PALM OIL JAN7 582.80 -2.00 580.50 586.4 2203
INDIA SOYOIL JAN7 723.5 -2.55 722.4 727.25 13420
NYMEX CRUDE FEB7 50.91 +0.09 50.78 50.94 2934
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 erased earlier gains to fall almost 1 percent on Tuesday due to higher than forecast inventory levels from a government report released during the session's midday break.
* Chicago Board of Trade soybean futures firmed on Tuesday, recovering from weakness in overnight trading on technical buying amid lingering concerns about weather in key South American growing regions.
* Oil prices fell 2 percent on Tuesday to the lowest in nearly a month, extending the previous session's sell-off as the U.S. dollar strengthened and doubts mounted over whether producing countries would implement a deal to cut output.
MARKET NEWS
* U.S. stocks end Tuesday mixed, while the dollar falls against the yen on investor caution ahead of a news conference by U.S. President-elect Donald Trump on Wednesday.
RELATED
> COLUMN-Soybean prices to come under pressure in 2017 -Braun
> Argentine farm belt seen benefiting from dry weather this week
> GRAINS-Prices curbed by ample supplies, U.S. data awaited
> Brazil 2016/17 soy crop seen at record 103.8 mln tonnes -Conab
> China's soy crushers slow buying due to tighter margins
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Jan 1-15 palm oil export data on Jan 15.
> Cargo surveyor SGS releases Malaysia's Jan 1-15 palm oil export data on Jan 15.
Palm, soy and crude oil prices at 2349 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 6194 +46.00 6142 6210 297868
CHINA SOYOIL MAY7 6900 +48.00 6850 6924 199914
CBOT SOY OIL MAR7 35.64 -2.00 0 0 0
INDIA PALM OIL JAN7 582.80 -2.00 580.50 586.4 2203
INDIA SOYOIL JAN7 723.5 -2.55 722.4 727.25 13420
NYMEX CRUDE FEB7 50.91 +0.09 50.78 50.94 2934
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