MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Feb 23
VEGOILS-Market Factors to Watch Feb 23
23/02/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures rose on Wednesday to bounce of a more than three-month low in the afternoon session as bargain hunters shrugged off market expectations of higher supplies and weak demand.
* U.S. soybean futures fell to a three-week low on Wednesday and posted a fourth straight daily decline on strong South American harvest prospects and a lack of supportive news, analysts said.
* U.S. oil futures rose nearly 1 percent on Thursday after data released by an industry group showed a surprise decline in U.S. crude stocks as imports fell, lending support to the view that a global glut is ending.
MARKET NEWS
* Global stocks pulled back from record highs on Wednesday while the dollar declined after minutes from the U.S. Federal Reserve offered little to support the notion of an interest rate increase in March.
RELATED
> Tunisia buys milling wheat and barley in tender -trade
> Bayer sees pesticides profits stagnating before Monsanto takeover
> British Sugar to expand output as EU quotas end, stocks fall
> Saudi Aramco recruits JPMorgan, M.Stanley for IPO, HSBC a contender
> EXCLUSIVE-Malaysia's Petronas, Saudi Aramco to sign deal on RAPID refinery project
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 0057 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 5906 +54.00 5886 5918 178394
CHINA SOYOIL MAY7 6664 +28.00 6648 6676 91866
CBOT SOY OIL MAR7 32.72 -0.40 0 0 0
INDIA PALM OIL FEB7 548.20 -0.40 539.20 551.3 2683
INDIA SOYOIL MAR7 654.7 -1.25 650.35 657.25 45650
NYMEX CRUDE APR7 53.99 +0.40 53.87 54.02 8592
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 rose on Wednesday to bounce of a more than three-month low in the afternoon session as bargain hunters shrugged off market expectations of higher supplies and weak demand.
* U.S. soybean futures fell to a three-week low on Wednesday and posted a fourth straight daily decline on strong South American harvest prospects and a lack of supportive news, analysts said.
* U.S. oil futures rose nearly 1 percent on Thursday after data released by an industry group showed a surprise decline in U.S. crude stocks as imports fell, lending support to the view that a global glut is ending.
MARKET NEWS
* Global stocks pulled back from record highs on Wednesday while the dollar declined after minutes from the U.S. Federal Reserve offered little to support the notion of an interest rate increase in March.
RELATED
> Tunisia buys milling wheat and barley in tender -trade
> Bayer sees pesticides profits stagnating before Monsanto takeover
> British Sugar to expand output as EU quotas end, stocks fall
> Saudi Aramco recruits JPMorgan, M.Stanley for IPO, HSBC a contender
> EXCLUSIVE-Malaysia's Petronas, Saudi Aramco to sign deal on RAPID refinery project
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 0057 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 5906 +54.00 5886 5918 178394
CHINA SOYOIL MAY7 6664 +28.00 6648 6676 91866
CBOT SOY OIL MAR7 32.72 -0.40 0 0 0
INDIA PALM OIL FEB7 548.20 -0.40 539.20 551.3 2683
INDIA SOYOIL MAR7 654.7 -1.25 650.35 657.25 45650
NYMEX CRUDE APR7 53.99 +0.40 53.87 54.02 8592
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