MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Feb 28
VEGOILS-Market Factors to Watch Feb 28
28/02/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures fell on Monday after hitting a near one-week high as traders sold on expectations of rising output and weakening export demand.
* U.S. wheat futures fell 2 percent to their lowest in nearly three weeks on Monday, weakening on technical sales after firming briefly during the overnight trading session.
* U.S. crude oil edged higher for a second day on Tuesday, underpinned by high compliance with OPEC's production cuts even as the market remains anchored by rising U.S. production.
MARKET NEWS
Wall Street closed slightly higher on Monday and U.S. Treasury yields rose on hopes for rising rates and expectations for an infrastructure spending announcement in U.S. President Donald Trump's speech Tuesday night.
RELATED
> Malawi sees bigger maize harvest despite pest invasion
> Malaysia's Sime Darby to restructure before spinning off units
> Malaysia's Feb 1-25 palm oil exports rose 1.3 pct -SGS
> Saudi Aramco to invest $7 bln in Petronas' RAPID oil refinery
> All participating countries committed to oil output deal, says OPEC Sec-Gen
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia’s Feb 1-28 palm oil export data on Mar 1.
> Cargo surveyor SGS releases Malaysia’s Feb 1-28 palm oil export data on Mar 1.
Palm, soy and crude oil prices at 0128 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 5804 -26.00 5742 5814 279296
CHINA SOYOIL MAY7 6590 -6.00 6534 6598 156114
CBOT SOY OIL MAY7 32.69 -2.60 32.55 32.7 1475
INDIA PALM OIL FEB7 544.90 -2.60 543.80 547 1076
INDIA SOYOIL MAR7 654.55 -1.15 653.1 659.8 32930
NYMEX CRUDE APR7 54.16 +0.11 54.01 54.17 7134
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
FUNDAMENTALS
* Malaysian palm oil futures fell on Monday after hitting a near one-week high as traders sold on expectations of rising output and weakening export demand.
* U.S. wheat futures fell 2 percent to their lowest in nearly three weeks on Monday, weakening on technical sales after firming briefly during the overnight trading session.
* U.S. crude oil edged higher for a second day on Tuesday, underpinned by high compliance with OPEC's production cuts even as the market remains anchored by rising U.S. production.
MARKET NEWS
Wall Street closed slightly higher on Monday and U.S. Treasury yields rose on hopes for rising rates and expectations for an infrastructure spending announcement in U.S. President Donald Trump's speech Tuesday night.
RELATED
> Malawi sees bigger maize harvest despite pest invasion
> Malaysia's Sime Darby to restructure before spinning off units
> Malaysia's Feb 1-25 palm oil exports rose 1.3 pct -SGS
> Saudi Aramco to invest $7 bln in Petronas' RAPID oil refinery
> All participating countries committed to oil output deal, says OPEC Sec-Gen
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia’s Feb 1-28 palm oil export data on Mar 1.
> Cargo surveyor SGS releases Malaysia’s Feb 1-28 palm oil export data on Mar 1.
Palm, soy and crude oil prices at 0128 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 5804 -26.00 5742 5814 279296
CHINA SOYOIL MAY7 6590 -6.00 6534 6598 156114
CBOT SOY OIL MAY7 32.69 -2.60 32.55 32.7 1475
INDIA PALM OIL FEB7 544.90 -2.60 543.80 547 1076
INDIA SOYOIL MAR7 654.55 -1.15 653.1 659.8 32930
NYMEX CRUDE APR7 54.16 +0.11 54.01 54.17 7134
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