MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Feb 7
VEGOILS-Market Factors to Watch Feb 7
07/02/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures edged up on Monday, reversing most of last week's losses, with traders expecting data due this week to show a rise in export demand amid poor production.
* U.S. soybean futures firmed on Monday on spillover strength from a rally in China as well as signs of good export demand, traders said.
* Oil fell on Monday as ample U.S. supplies and excess speculative length outweighed OPEC output curbs and rising tensions between the United States and Iran.
MARKET NEWS
* U.S. stocks fell on Monday, led lower by the energy sector as oil prices slumped, following European shares and the euro downward on global political uncertainty.
RELATED
> Brazil wheat hits export markets after large crop -port data
> EU wheat steady as softer euro underpins quiet market
> Ivory Coast rain helps cocoa mid-crop, some regions still dry
> China's latest farm policy shifts focus from output to demand
> France holds rapeseed area steady but sees downside risk
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 0009 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 6152 +8.00 6134 6166 99626
CHINA SOYOIL MAY7 6864 -6.00 6852 6886 83816
CBOT SOY OIL MAR7 34.44 +2.30 0 0 0
INDIA PALM OIL FEB7 579.00 +2.30 576.70 579.6 790
INDIA SOYOIL FEB7 702.6 +2.15 701 717.85 6840
NYMEX CRUDE MAR7 53.17 +0.16 53.11 53.22 2409
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 edged up on Monday, reversing most of last week's losses, with traders expecting data due this week to show a rise in export demand amid poor production.
* U.S. soybean futures firmed on Monday on spillover strength from a rally in China as well as signs of good export demand, traders said.
* Oil fell on Monday as ample U.S. supplies and excess speculative length outweighed OPEC output curbs and rising tensions between the United States and Iran.
MARKET NEWS
* U.S. stocks fell on Monday, led lower by the energy sector as oil prices slumped, following European shares and the euro downward on global political uncertainty.
RELATED
> Brazil wheat hits export markets after large crop -port data
> EU wheat steady as softer euro underpins quiet market
> Ivory Coast rain helps cocoa mid-crop, some regions still dry
> China's latest farm policy shifts focus from output to demand
> France holds rapeseed area steady but sees downside risk
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 0009 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 6152 +8.00 6134 6166 99626
CHINA SOYOIL MAY7 6864 -6.00 6852 6886 83816
CBOT SOY OIL MAR7 34.44 +2.30 0 0 0
INDIA PALM OIL FEB7 579.00 +2.30 576.70 579.6 790
INDIA SOYOIL FEB7 702.6 +2.15 701 717.85 6840
NYMEX CRUDE MAR7 53.17 +0.16 53.11 53.22 2409
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