MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Feb 13
VEGOILS-Market Factors to Watch Feb 13
13/02/2017 (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, ending three sessions of gains and dragged down by higher than forecast inventory data from the Malaysian Palm Oil Board (MPOB).
* U.S. wheat Wc1 and corn Cc1 futures extended gains to set multi-month highs on Friday on follow-through buying after the U.S. Department of Agriculture slashed domestic stockpile estimates in a monthly report on Thursday.
* Oil prices rose on Friday after reports that OPEC members delivered more than 90 percent of the output cuts they pledged in a landmark deal that took effect in January.
MARKET NEWS
* The dollar rose against the yen on Monday on relief that U.S. President Donald Trump set aside tough campaign rhetoric over security and jobs in a smooth meeting with Japanese Prime Minister Shinzo Abe, with no mention of currency policy.
RELATED
> Pimco sees upside in corn markets, cautious on soybeans, aluminium
> Speculators raise bearish ICE cocoa stance to 2012 high
> China regulator still plans oil futures, weighs easing equity curbs -paper
> BHP's Escondida copper mine declares force majeure on Chile strike
> Freeport says no deal with Indonesia, export ban remains
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia’s Feb 1-15 palm oil export data on Feb 15.
> Cargo surveyor SGS releases Malaysia’s Feb 1-15 palm oil export data on Feb 15.
Palm, soy and crude oil prices at 0046 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 6262 +18.00 6226 6280 221986
CHINA SOYOIL MAY7 6962 +36.00 6918 6976 174842
CBOT SOY OIL MAR7 34.61 -4.60 0 0 0
INDIA PALM OIL FEB7 577.50 -4.60 569.50 585.6 2805
INDIA SOYOIL FEB7 703.4 -2.75 701.6 711 9360
NYMEX CRUDE MAR7 53.72 -0.14 53.71 53.95 5083
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, ending three sessions of gains and dragged down by higher than forecast inventory data from the Malaysian Palm Oil Board (MPOB).
* U.S. wheat Wc1 and corn Cc1 futures extended gains to set multi-month highs on Friday on follow-through buying after the U.S. Department of Agriculture slashed domestic stockpile estimates in a monthly report on Thursday.
* Oil prices rose on Friday after reports that OPEC members delivered more than 90 percent of the output cuts they pledged in a landmark deal that took effect in January.
MARKET NEWS
* The dollar rose against the yen on Monday on relief that U.S. President Donald Trump set aside tough campaign rhetoric over security and jobs in a smooth meeting with Japanese Prime Minister Shinzo Abe, with no mention of currency policy.
RELATED
> Pimco sees upside in corn markets, cautious on soybeans, aluminium
> Speculators raise bearish ICE cocoa stance to 2012 high
> China regulator still plans oil futures, weighs easing equity curbs -paper
> BHP's Escondida copper mine declares force majeure on Chile strike
> Freeport says no deal with Indonesia, export ban remains
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia’s Feb 1-15 palm oil export data on Feb 15.
> Cargo surveyor SGS releases Malaysia’s Feb 1-15 palm oil export data on Feb 15.
Palm, soy and crude oil prices at 0046 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 6262 +18.00 6226 6280 221986
CHINA SOYOIL MAY7 6962 +36.00 6918 6976 174842
CBOT SOY OIL MAR7 34.61 -4.60 0 0 0
INDIA PALM OIL FEB7 577.50 -4.60 569.50 585.6 2805
INDIA SOYOIL FEB7 703.4 -2.75 701.6 711 9360
NYMEX CRUDE MAR7 53.72 -0.14 53.71 53.95 5083
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