MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Jan 16
VEGOILS-Market Factors to Watch Jan 16
16/01/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures climbed to their strongest levels in a week in early trade on Friday due to improving demand and tight supply, before paring gains in the afternoon on weakening rival oils.
* U.S. soybean futures rose on Friday on follow-through buying on the U.S. Agriculture Department's surprise cut to its domestic production estimate and ending stocks on Thursday, traders said.
* Oil prices inched up on Monday, supported by a weaker dollar and expectations that OPEC and other producers will cut output as part of a deal to curb global oversupply.
MARKET NEWS
* Sterling slid to three-month lows in Asia on Monday with investors again spooked by concerns over Britain's exit from the European Union, while U.S. policy uncertainty lingered ahead of President-elect Donald Trump's inauguration.
RELATED
> ADM shakes up global commodities trading business
> Egypt eases strategic grains import regulations
> Pemex sells Maya crude to U.S. West Coast for first time since 2008
> Russia acknowledges threat from Trump's energy policy on EU gas market
> N. Dakota oil output seen below 1 mln bbls/day soon -regulator
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Jan 1-15 palm oil export data on Jan 16.
> Cargo surveyor SGS releases Malaysia's Jan 1-15 palm oil export data on Jan 16.
Palm, soy and crude oil prices at 0053 GMT
Contract Month Last Change Low High Volume
MY PALM OIL FEB7 0 +0.00 0 0 0
MY PALM OIL MAR7 0 +0.00 0 0 0
MY PALM OIL APR7 0 +0.00 0 0 0
CHINA PALM OLEIN MAY7 6288 +0.00 6238 6296 153290
CHINA SOYOIL MAY7 6954 +4.00 6908 6960 97714
CBOT SOY OIL MAR7 35.6 +1.50 0 0 0
INDIA PALM OIL JAN7 589.20 +1.50 587.20 592.7 1178
INDIA SOYOIL JAN7 730.8 +1.45 729.75 733.4 3640
NYMEX CRUDE FEB7 52.45 +0.08 52.39 52.63 3000
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 climbed to their strongest levels in a week in early trade on Friday due to improving demand and tight supply, before paring gains in the afternoon on weakening rival oils.
* U.S. soybean futures rose on Friday on follow-through buying on the U.S. Agriculture Department's surprise cut to its domestic production estimate and ending stocks on Thursday, traders said.
* Oil prices inched up on Monday, supported by a weaker dollar and expectations that OPEC and other producers will cut output as part of a deal to curb global oversupply.
MARKET NEWS
* Sterling slid to three-month lows in Asia on Monday with investors again spooked by concerns over Britain's exit from the European Union, while U.S. policy uncertainty lingered ahead of President-elect Donald Trump's inauguration.
RELATED
> ADM shakes up global commodities trading business
> Egypt eases strategic grains import regulations
> Pemex sells Maya crude to U.S. West Coast for first time since 2008
> Russia acknowledges threat from Trump's energy policy on EU gas market
> N. Dakota oil output seen below 1 mln bbls/day soon -regulator
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Jan 1-15 palm oil export data on Jan 16.
> Cargo surveyor SGS releases Malaysia's Jan 1-15 palm oil export data on Jan 16.
Palm, soy and crude oil prices at 0053 GMT
Contract Month Last Change Low High Volume
MY PALM OIL FEB7 0 +0.00 0 0 0
MY PALM OIL MAR7 0 +0.00 0 0 0
MY PALM OIL APR7 0 +0.00 0 0 0
CHINA PALM OLEIN MAY7 6288 +0.00 6238 6296 153290
CHINA SOYOIL MAY7 6954 +4.00 6908 6960 97714
CBOT SOY OIL MAR7 35.6 +1.50 0 0 0
INDIA PALM OIL JAN7 589.20 +1.50 587.20 592.7 1178
INDIA SOYOIL JAN7 730.8 +1.45 729.75 733.4 3640
NYMEX CRUDE FEB7 52.45 +0.08 52.39 52.63 3000
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