MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Jan 23
VEGOILS-Market Factors to Watch Jan 23
23/01/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures declined nearly 1 percent on Friday, charting a third day of losses, as its spread with rival oilseed soy narrowed and on weaker related oils on China's Dalian Commodity Exchange, said traders.
* U.S. corn futures touched a six-month high on Friday, buoyed by robust demand from exporters and ethanol producers, analysts said.
* Oil prices edged up on Monday, supported by statements from oil producers over the weekend that a output cut was being successfully implemented, but markets were held back by a surge in drilling that suggested U.S. output would rise further.
MARKET NEWS
* The dollar ended down while U.S. stock indexes rose in the last day of a choppy trading week, as investors reacted to President Donald Trump's inaugural speech.
RELATED
> China quietly shelves plans to launch Shanghai crude oil futures
> EU wheat exporters make most of reduced supply as rivals face hitches
> China's COFCO 2016 profit jumped 79 pct after business overhaul
> Soybean futures volume surges as exporters hedge big physical buys
> ChemChina seeks U.S. anti-trust approval for Syngenta deal
> Trump to target Obama's climate initiatives -White House website
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Jan 1-25 palm oil export data on Jan 25.
> Cargo surveyor SGS releases Malaysia's Jan 1-25 palm oil export data on Jan 25.
Palm, soy and crude oil prices at 0037 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 6252 -38.00 6216 6280 167872
CHINA SOYOIL MAY7 6978 -26.00 6944 6998 122434
CBOT SOY OIL MAR7 35.15 -4.20 0 0 0
INDIA PALM OIL JAN7 588.90 -4.20 585.60 593.5 1335
INDIA SOYOIL FEB7 717.85 -7.30 716 724 31240
NYMEX CRUDE MAR7 53.31 +0.09 53.16 53.47 6001
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 declined nearly 1 percent on Friday, charting a third day of losses, as its spread with rival oilseed soy narrowed and on weaker related oils on China's Dalian Commodity Exchange, said traders.
* U.S. corn futures touched a six-month high on Friday, buoyed by robust demand from exporters and ethanol producers, analysts said.
* Oil prices edged up on Monday, supported by statements from oil producers over the weekend that a output cut was being successfully implemented, but markets were held back by a surge in drilling that suggested U.S. output would rise further.
MARKET NEWS
* The dollar ended down while U.S. stock indexes rose in the last day of a choppy trading week, as investors reacted to President Donald Trump's inaugural speech.
RELATED
> China quietly shelves plans to launch Shanghai crude oil futures
> EU wheat exporters make most of reduced supply as rivals face hitches
> China's COFCO 2016 profit jumped 79 pct after business overhaul
> Soybean futures volume surges as exporters hedge big physical buys
> ChemChina seeks U.S. anti-trust approval for Syngenta deal
> Trump to target Obama's climate initiatives -White House website
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Jan 1-25 palm oil export data on Jan 25.
> Cargo surveyor SGS releases Malaysia's Jan 1-25 palm oil export data on Jan 25.
Palm, soy and crude oil prices at 0037 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 6252 -38.00 6216 6280 167872
CHINA SOYOIL MAY7 6978 -26.00 6944 6998 122434
CBOT SOY OIL MAR7 35.15 -4.20 0 0 0
INDIA PALM OIL JAN7 588.90 -4.20 585.60 593.5 1335
INDIA SOYOIL FEB7 717.85 -7.30 716 724 31240
NYMEX CRUDE MAR7 53.31 +0.09 53.16 53.47 6001
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