MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Jan 26
VEGOILS-Market Factors to Watch Jan 26
26/01/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures declined on Wednesday, tracking weaker performing rival soyoil and as traders closed positions ahead of the Lunar New Year public holidays.
* U.S. soybean futures fell to a 1-1/2-week low on Wednesday on an improved South American crop weather outlook while corn edged higher on export demand, traders said.
* Oil prices ended less than 1 percent lower on Wednesday after data showed a build in U.S. crude inventories, reinforcing the view that oil prices are range bound, buoyed by expected OPEC production cuts while pressured by U.S. output growth.
MARKET NEWS
* Asian stocks gained early on Thursday, cheered by the Dow Jones Industrial Average breaching past the 20,000-level threshold for the first time though concerns about U.S. President Donald Trump's protectionist stance kept the dollar on the defensive.
RELATED
> Hungary's foie gras industry down with flu as millions of birds die
> U.S. biofuels credits drop as EPA delay uncertainty grips market
> El Niño may return in 2017 -Braun
> Saudi Aramco shelves plan for joint venture with Malaysia's Petronas -sources
> China's corn prices buoyed by talk of regional stockpiling
> How Russia sold its oil jewel -- without saying who bought it
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Jan 1-30 palm oil export data on Jan 31.
> Cargo surveyor SGS releases Malaysia's Jan 1-30 palm oil export data on Jan 31.
Palm, soy and crude oil prices at 0054 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 -8.00 6296 6336 89120
CHINA SOYOIL MAY7 7014 +2.00 6976 7022 77246
CBOT SOY OIL MAR7 34.87 -0.10 0 0 0
INDIA PALM OIL JAN7 597.00 -0.10 594.10 598.1 749
INDIA SOYOIL FEB7 716.75 -1.35 712.3 718.3 17920
NYMEX CRUDE MAR7 53.02 +0.27 52.93 53.06 2773
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 on Wednesday, tracking weaker performing rival soyoil and as traders closed positions ahead of the Lunar New Year public holidays.
* U.S. soybean futures fell to a 1-1/2-week low on Wednesday on an improved South American crop weather outlook while corn edged higher on export demand, traders said.
* Oil prices ended less than 1 percent lower on Wednesday after data showed a build in U.S. crude inventories, reinforcing the view that oil prices are range bound, buoyed by expected OPEC production cuts while pressured by U.S. output growth.
MARKET NEWS
* Asian stocks gained early on Thursday, cheered by the Dow Jones Industrial Average breaching past the 20,000-level threshold for the first time though concerns about U.S. President Donald Trump's protectionist stance kept the dollar on the defensive.
RELATED
> Hungary's foie gras industry down with flu as millions of birds die
> U.S. biofuels credits drop as EPA delay uncertainty grips market
> El Niño may return in 2017 -Braun
> Saudi Aramco shelves plan for joint venture with Malaysia's Petronas -sources
> China's corn prices buoyed by talk of regional stockpiling
> How Russia sold its oil jewel -- without saying who bought it
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Jan 1-30 palm oil export data on Jan 31.
> Cargo surveyor SGS releases Malaysia's Jan 1-30 palm oil export data on Jan 31.
Palm, soy and crude oil prices at 0054 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 -8.00 6296 6336 89120
CHINA SOYOIL MAY7 7014 +2.00 6976 7022 77246
CBOT SOY OIL MAR7 34.87 -0.10 0 0 0
INDIA PALM OIL JAN7 597.00 -0.10 594.10 598.1 749
INDIA SOYOIL FEB7 716.75 -1.35 712.3 718.3 17920
NYMEX CRUDE MAR7 53.02 +0.27 52.93 53.06 2773
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