MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Jan 18
VEGOILS-Market Factors to Watch Jan 18
18/01/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures rose more than 1 percent in trade on Tuesday, earlier tracking gains in rival oilseed soy and supported by bullish sentiment on tight market supplies in the evening.
* U.S. soybean futures rose about 2 percent on Tuesday, touching a six-month high on worries about excessive rains in Argentina crimping production prospects, analysts said.
* Oil prices were little changed on Tuesday as a decline in the U.S. dollar and comments by Saudi Arabia that it would adhere to OPEC's commitment to cut output.
MARKET NEWS
* The British pound consolidated gains on Wednesday after posting its biggest rise in nearly two decades in the previous session, while Asian stocks are set to drift lower following a weak Wall Street.
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DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Jan 1-20 palm oil export data on Jan 20.
> Cargo surveyor SGS releases Malaysia's Jan 1-20 palm oil export data on Jan 20.
Palm, soy and crude oil prices at 0056 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 6326 +6.00 6318 6356 189216
CHINA SOYOIL MAY7 7006 -8.00 6996 7052 145908
CBOT SOY OIL MAR7 35.56 +3.10 0 0 0
INDIA PALM OIL JAN7 594.30 +3.10 591.00 596.5 1094
INDIA SOYOIL JAN7 734.2 +3.20 732 734.95 6310
NYMEX CRUDE FEB7 52.51 +0.03 52.49 52.57 1405
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 more than 1 percent in trade on Tuesday, earlier tracking gains in rival oilseed soy and supported by bullish sentiment on tight market supplies in the evening.
* U.S. soybean futures rose about 2 percent on Tuesday, touching a six-month high on worries about excessive rains in Argentina crimping production prospects, analysts said.
* Oil prices were little changed on Tuesday as a decline in the U.S. dollar and comments by Saudi Arabia that it would adhere to OPEC's commitment to cut output.
MARKET NEWS
* The British pound consolidated gains on Wednesday after posting its biggest rise in nearly two decades in the previous session, while Asian stocks are set to drift lower following a weak Wall Street.
RELATED
> Bayer, Monsanto confirm spending plans after meeting Trump
> Syngenta sees no sale of ChemChina's Adama to get merger nod
> Ivory Coast to cancel 300,000 tonnes of cocoa contracts - sources
> Saudi Aramco to continue building oil, gas capacity to meet demand - CEO
> Global ship insurers to resume near full coverage for Iran oil - officials
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Jan 1-20 palm oil export data on Jan 20.
> Cargo surveyor SGS releases Malaysia's Jan 1-20 palm oil export data on Jan 20.
Palm, soy and crude oil prices at 0056 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 6326 +6.00 6318 6356 189216
CHINA SOYOIL MAY7 7006 -8.00 6996 7052 145908
CBOT SOY OIL MAR7 35.56 +3.10 0 0 0
INDIA PALM OIL JAN7 594.30 +3.10 591.00 596.5 1094
INDIA SOYOIL JAN7 734.2 +3.20 732 734.95 6310
NYMEX CRUDE FEB7 52.51 +0.03 52.49 52.57 1405
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