MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Jan 31
VEGOILS-Market Factors to Watch Jan 31
31/01/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures fell on Friday morning, charting a third consecutive day of declines and touching a two-week low, as output is seen rising next month and as traders booked profit ahead of a long weekend.
* U.S. soybean futures fell more than 2 percent on Monday, with the front contract hitting a two-week low on long liquidation and improved crop weather for South America, analysts said.
* Oil prices fell on Monday as news of another weekly increase in U.S. drilling activity had oil forecasters concerned that production cuts from other producing nations may not reduce the global supply glut as much as had been hoped.
MARKET NEWS
* Major world equity markets fell on Monday and the dollar slipped against the safe-haven yen after new U.S. immigration curbs stirred concerns about the impact of U.S. President Donald Trump's policies on global trade and the economy.
RELATED
> ADM to sell crop insurance business to Validus Holdings
> COLUMN-Funds ramp up love affair with CBOT soy complex, add corn
> Monsanto sees prolonged delay on GMO corn permits in Mexico
> Brazil to open agricultural land to foreign buyers -sources
> Russian wheat prices rise further after Egypt's purchase
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 0058 GMT
Contract Month Last Change Low High Volume
MY PALM OIL FEB7 3,243 +0.00 0 0 0
MY PALM OIL MAR7 3,135 +0.00 0 0 0
MY PALM OIL APR7 3,070 +0.00 0 0 0
CHINA PALM OLEIN MAY7 6,278 +0.00 0 0 0
CHINA SOYOIL MAY7 6,970 +0.00 0 0 0
CBOT SOY OIL MAR7 33.61 +0.40 0 0 0
INDIA PALM OIL JAN7 587.20 +0.40 585.40 587.9 593
INDIA SOYOIL FEB7 692 -12.00 691.3 705 35040
NYMEX CRUDE MAR7 52.64 +0.01 52.57 52.70 4802
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 fell on Friday morning, charting a third consecutive day of declines and touching a two-week low, as output is seen rising next month and as traders booked profit ahead of a long weekend.
* U.S. soybean futures fell more than 2 percent on Monday, with the front contract hitting a two-week low on long liquidation and improved crop weather for South America, analysts said.
* Oil prices fell on Monday as news of another weekly increase in U.S. drilling activity had oil forecasters concerned that production cuts from other producing nations may not reduce the global supply glut as much as had been hoped.
MARKET NEWS
* Major world equity markets fell on Monday and the dollar slipped against the safe-haven yen after new U.S. immigration curbs stirred concerns about the impact of U.S. President Donald Trump's policies on global trade and the economy.
RELATED
> ADM to sell crop insurance business to Validus Holdings
> COLUMN-Funds ramp up love affair with CBOT soy complex, add corn
> Monsanto sees prolonged delay on GMO corn permits in Mexico
> Brazil to open agricultural land to foreign buyers -sources
> Russian wheat prices rise further after Egypt's purchase
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 0058 GMT
Contract Month Last Change Low High Volume
MY PALM OIL FEB7 3,243 +0.00 0 0 0
MY PALM OIL MAR7 3,135 +0.00 0 0 0
MY PALM OIL APR7 3,070 +0.00 0 0 0
CHINA PALM OLEIN MAY7 6,278 +0.00 0 0 0
CHINA SOYOIL MAY7 6,970 +0.00 0 0 0
CBOT SOY OIL MAR7 33.61 +0.40 0 0 0
INDIA PALM OIL JAN7 587.20 +0.40 585.40 587.9 593
INDIA SOYOIL FEB7 692 -12.00 691.3 705 35040
NYMEX CRUDE MAR7 52.64 +0.01 52.57 52.70 4802
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