MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Feb 21
VEGOILS-Market Factors to Watch Feb 21
21/02/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures slid for a third consecutive session on Monday, falling to its lowest since mid-November as slowing demand and expectations of higher supplies weighed on the market.
* U.S. wheat and corn futures fell on Friday for a second straight session as traders liquidated long positions ahead of a U.S. holiday weekend, and following a fund-driven rally seen as lacking fundamental drivers, analysts said.
* Oil prices inched higher on Monday, as investor optimism over the effectiveness of producer cuts encouraged record bets on a sustained rally, although growing U.S. output and stubbornly high stockpiles kept price gains in check.
MARKET NEWS
* European stocks rose on Monday, with gains in telecoms and banks offsetting a big fall in Unilever, while uncertainty over political developments and the timing of a U.S. interest rate hike kept the dollar in check.
RELATED
> Singapore's Wilmar fourth-quarter profit rises 70 pct
> Malaysia's Feb 1-20 palm oil exports rose 1.7 pct -SGS
> Malaysia's Feb 1 - 20 palm oil exports fall 0.8 pct -ITS
> India's wheat imports to slow after March on fumigation rule change
> After OPEC cuts heavy oil, China teapot refiners pull U.S. supply to Asia
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia’s Feb 1-20 palm oil export data on Feb 25.
> Cargo surveyor SGS releases Malaysia’s Feb 1-20 palm oil export data on Feb 25.
Palm, soy and crude oil prices at 0039 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 5916 -6.00 5902 5934 113310
CHINA SOYOIL MAY7 6698 +6.00 6682 6712 54708
CBOT SOY OIL MAR7 32.89 -3.50 0 0 0
INDIA PALM OIL FEB7 555.50 -3.50 553.50 561.1 1161
INDIA SOYOIL MAR7 660 -4.75 659.05 666.5 23880
NYMEX CRUDE MAR7 53.63 +0.23 53.35 53.88 12271
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 slid for a third consecutive session on Monday, falling to its lowest since mid-November as slowing demand and expectations of higher supplies weighed on the market.
* U.S. wheat and corn futures fell on Friday for a second straight session as traders liquidated long positions ahead of a U.S. holiday weekend, and following a fund-driven rally seen as lacking fundamental drivers, analysts said.
* Oil prices inched higher on Monday, as investor optimism over the effectiveness of producer cuts encouraged record bets on a sustained rally, although growing U.S. output and stubbornly high stockpiles kept price gains in check.
MARKET NEWS
* European stocks rose on Monday, with gains in telecoms and banks offsetting a big fall in Unilever, while uncertainty over political developments and the timing of a U.S. interest rate hike kept the dollar in check.
RELATED
> Singapore's Wilmar fourth-quarter profit rises 70 pct
> Malaysia's Feb 1-20 palm oil exports rose 1.7 pct -SGS
> Malaysia's Feb 1 - 20 palm oil exports fall 0.8 pct -ITS
> India's wheat imports to slow after March on fumigation rule change
> After OPEC cuts heavy oil, China teapot refiners pull U.S. supply to Asia
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia’s Feb 1-20 palm oil export data on Feb 25.
> Cargo surveyor SGS releases Malaysia’s Feb 1-20 palm oil export data on Feb 25.
Palm, soy and crude oil prices at 0039 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 5916 -6.00 5902 5934 113310
CHINA SOYOIL MAY7 6698 +6.00 6682 6712 54708
CBOT SOY OIL MAR7 32.89 -3.50 0 0 0
INDIA PALM OIL FEB7 555.50 -3.50 553.50 561.1 1161
INDIA SOYOIL MAR7 660 -4.75 659.05 666.5 23880
NYMEX CRUDE MAR7 53.63 +0.23 53.35 53.88 12271
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