MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Mar 1
VEGOILS-Market Factors to Watch Mar 1
01/03/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures recovered late on Tuesday, tracking stronger soyoil prices after hitting their lowest level in nearly four months earlier in the day.
* U.S. corn futures rose on Tuesday and soyoil futures climbed about 4 percent on prospects for changes to the U.S. renewable fuels policy that could boost demand for corn-based ethanol and soy biodiesel, traders said.
* Oil prices slipped on Tuesday but kept trading in a tight range, as concerns about rising U.S. crude inventories ahead of data overshadowed OPEC production cuts.
MARKET NEWS
Stocks in major markets dipped and the Dow snapped a streak of records while longer-dated Treasury yields fell as investors prepared for President Donald Trump's Tuesday night address to a joint Congress session.
RELATED
> China's COFCO completes takeover of grain trader Nidera
> Malaysia's February palm oil exports fell 12.0 pct -SGS
> Malaysia's Feb palm oil exports fall 14.2 pct -ITS
> Saudi Aramco to buy $7 bln stake in Petronas' RAPID refinery project
> Aramco's Malaysia deal gives Saudis upper hand in fight for Asia oil share
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia’s Feb 1-28 palm oil export data on Mar 10.
> Cargo surveyor SGS releases Malaysia’s Feb 1-28 palm oil export data on Mar 10.
Palm, soy and crude oil prices at 0031 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 0 5916 +134.0 5818 5922 319594
CHINA SOYOIL MAY7 0 6708 +140.0 6594 6712 305808
CBOT SOY OIL MAY7 33.93 +12.60 0 0 0
INDIA PALM OIL MAR7 545.50 +12.60 531.00 548.8 4617
INDIA SOYOIL MAR7 673.3 +19.05 654.5 678.5 65760
NYMEX CRUDE APR7 53.94 -0.07 53.90 54.00 3111
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 recovered late on Tuesday, tracking stronger soyoil prices after hitting their lowest level in nearly four months earlier in the day.
* U.S. corn futures rose on Tuesday and soyoil futures climbed about 4 percent on prospects for changes to the U.S. renewable fuels policy that could boost demand for corn-based ethanol and soy biodiesel, traders said.
* Oil prices slipped on Tuesday but kept trading in a tight range, as concerns about rising U.S. crude inventories ahead of data overshadowed OPEC production cuts.
MARKET NEWS
Stocks in major markets dipped and the Dow snapped a streak of records while longer-dated Treasury yields fell as investors prepared for President Donald Trump's Tuesday night address to a joint Congress session.
RELATED
> China's COFCO completes takeover of grain trader Nidera
> Malaysia's February palm oil exports fell 12.0 pct -SGS
> Malaysia's Feb palm oil exports fall 14.2 pct -ITS
> Saudi Aramco to buy $7 bln stake in Petronas' RAPID refinery project
> Aramco's Malaysia deal gives Saudis upper hand in fight for Asia oil share
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia’s Feb 1-28 palm oil export data on Mar 10.
> Cargo surveyor SGS releases Malaysia’s Feb 1-28 palm oil export data on Mar 10.
Palm, soy and crude oil prices at 0031 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 0 5916 +134.0 5818 5922 319594
CHINA SOYOIL MAY7 0 6708 +140.0 6594 6712 305808
CBOT SOY OIL MAY7 33.93 +12.60 0 0 0
INDIA PALM OIL MAR7 545.50 +12.60 531.00 548.8 4617
INDIA SOYOIL MAR7 673.3 +19.05 654.5 678.5 65760
NYMEX CRUDE APR7 53.94 -0.07 53.90 54.00 3111
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