MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Feb 16
VEGOILS-Market Factors to Watch Feb 16
16/02/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures saw their strongest daily gains in nearly two weeks on Wednesday after hitting a near three-month low in the previous session, aided by positive export numbers.
* Chicago Board of Trade soybean, corn and wheat futures firmed on Wednesday, recovering from weakness in the overnight trading session on a round of technical buying, traders said.
* Oil prices eased slightly on Wednesday in choppy trade as record high U.S. crude and gasoline inventories fed concerns about a global glut.
MARKET NEWS
* A gauge of major world markets climbed to a record on Wednesday and U.S. Treasury yields rose as a strengthening economic outlook and recent commentary by Federal Reserve officials increased expectations of an interest rate hike in March.
RELATED
> Malaysia's Feb 1-15 palm oil exports fell 3.6 pct -SGS
> India's Jan vegoil imports drop 19 pct y/y to 1 mln T - trade body
> India to produce record 272 mln T food grains in 2016/17- govt
> Egypt's GASC cancels vegoil purchase tender - trade
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia’s Feb 1-20 palm oil export data on Feb 20.
> Cargo surveyor SGS releases Malaysia’s Feb 1-20 palm oil export data on Feb 20.
Palm, soy and crude oil prices at 0019 GMT
Contract Month Last Change Low High Volume
MY PALM OIL MAR7 0 +0.00 0 0 0
MY PALM OIL APR7 0 +0.00 0 0 0
MY PALM OIL MAY7 0 +0.00 0 0 0
CHINA PALM OLEIN MAY7 6136 +34.00 6090 6142 204818
CHINA SOYOIL MAY7 6856 +14.00 6816 6862 116636
CBOT SOY OIL MAR7 33.94 +6.80 0 0 0
INDIA PALM OIL FEB7 572.00 +6.80 567.00 573.7 1059
INDIA SOYOIL FEB7 687.7 -0.80 685.2 690.7 3350
NYMEX CRUDE MAR7 53.02 -0.09 52.96 53.05 1256
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 saw their strongest daily gains in nearly two weeks on Wednesday after hitting a near three-month low in the previous session, aided by positive export numbers.
* Chicago Board of Trade soybean, corn and wheat futures firmed on Wednesday, recovering from weakness in the overnight trading session on a round of technical buying, traders said.
* Oil prices eased slightly on Wednesday in choppy trade as record high U.S. crude and gasoline inventories fed concerns about a global glut.
MARKET NEWS
* A gauge of major world markets climbed to a record on Wednesday and U.S. Treasury yields rose as a strengthening economic outlook and recent commentary by Federal Reserve officials increased expectations of an interest rate hike in March.
RELATED
> Malaysia's Feb 1-15 palm oil exports fell 3.6 pct -SGS
> India's Jan vegoil imports drop 19 pct y/y to 1 mln T - trade body
> India to produce record 272 mln T food grains in 2016/17- govt
> Egypt's GASC cancels vegoil purchase tender - trade
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia’s Feb 1-20 palm oil export data on Feb 20.
> Cargo surveyor SGS releases Malaysia’s Feb 1-20 palm oil export data on Feb 20.
Palm, soy and crude oil prices at 0019 GMT
Contract Month Last Change Low High Volume
MY PALM OIL MAR7 0 +0.00 0 0 0
MY PALM OIL APR7 0 +0.00 0 0 0
MY PALM OIL MAY7 0 +0.00 0 0 0
CHINA PALM OLEIN MAY7 6136 +34.00 6090 6142 204818
CHINA SOYOIL MAY7 6856 +14.00 6816 6862 116636
CBOT SOY OIL MAR7 33.94 +6.80 0 0 0
INDIA PALM OIL FEB7 572.00 +6.80 567.00 573.7 1059
INDIA SOYOIL FEB7 687.7 -0.80 685.2 690.7 3350
NYMEX CRUDE MAR7 53.02 -0.09 52.96 53.05 1256
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