MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Feb 6
VEGOILS-Market Factors to Watch Feb 6
06/02/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil ended Friday's trade lower, tracking vegetable oil futures on the Dalian Commodity Exchange and responding to an industry analyst's price forecast.
* U.S. soybean futures fell 1 per cent on Friday, pressured by expectations for a huge crop in Brazil, the world's top exporter of the oilseed, traders said.
* Oil prices rose on Friday after the United States imposed sanctions on some Iranian individuals and entities, days after the White House rebuked Tehran for a ballistic missile test.
MARKET NEWS
* Asian shares edged ahead on Monday as Wall Street gathered momentum into a busy week of earnings with more than 100 major companies due to report, while the dollar was again hobbled by a lack of progress on U.S. fiscal stimulus.
RELATED
> Scientists find crop-destroying caterpillar spreading rapidly in Africa
> China targets green, branded food products as part of farm reform
> Informa raises Brazil soy crop forecast to 106.5 million T -trade
> U.S. FERC delegates authority to staff in absence of a quorum
> COLUMN-U.S. soybean exports are shining, but not shocking: Braun
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Feb 1-10 palm oil export data on Feb 10.
> Cargo surveyor SGS releases Malaysia's Feb 1-10 palm oil export data on Feb 10.
Palm, soy and crude oil prices at 0050 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 6154 -16.00 6118 6170 110254
CHINA SOYOIL MAY7 6882 -2.00 6852 6910 105378
CBOT SOY OIL MAR7 33.86 -0.40 0 0 0
INDIA PALM OIL FEB7 577.00 -0.40 574.80 578.4 976
INDIA SOYOIL FEB7 700 -1.50 699.6 703.4 12820
NYMEX CRUDE MAR7 53.89 +0.06 53.79 53.95 3756
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 ended Friday's trade lower, tracking vegetable oil futures on the Dalian Commodity Exchange and responding to an industry analyst's price forecast.
* U.S. soybean futures fell 1 per cent on Friday, pressured by expectations for a huge crop in Brazil, the world's top exporter of the oilseed, traders said.
* Oil prices rose on Friday after the United States imposed sanctions on some Iranian individuals and entities, days after the White House rebuked Tehran for a ballistic missile test.
MARKET NEWS
* Asian shares edged ahead on Monday as Wall Street gathered momentum into a busy week of earnings with more than 100 major companies due to report, while the dollar was again hobbled by a lack of progress on U.S. fiscal stimulus.
RELATED
> Scientists find crop-destroying caterpillar spreading rapidly in Africa
> China targets green, branded food products as part of farm reform
> Informa raises Brazil soy crop forecast to 106.5 million T -trade
> U.S. FERC delegates authority to staff in absence of a quorum
> COLUMN-U.S. soybean exports are shining, but not shocking: Braun
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Feb 1-10 palm oil export data on Feb 10.
> Cargo surveyor SGS releases Malaysia's Feb 1-10 palm oil export data on Feb 10.
Palm, soy and crude oil prices at 0050 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 6154 -16.00 6118 6170 110254
CHINA SOYOIL MAY7 6882 -2.00 6852 6910 105378
CBOT SOY OIL MAR7 33.86 -0.40 0 0 0
INDIA PALM OIL FEB7 577.00 -0.40 574.80 578.4 976
INDIA SOYOIL FEB7 700 -1.50 699.6 703.4 12820
NYMEX CRUDE MAR7 53.89 +0.06 53.79 53.95 3756
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