KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Monday Jan 12.
FUNDAMENTALS
* Malaysian palm oil futures dipped for the first time in four days on Friday as
the ringgit steadied and investors took profits, but worries that more rain
could curb output helped the contract notch its third straight weekly gain.
* U.S. corn and soybean futures firmed on Friday, supported by strong export
demand, while wheat weakened slightly as traders evened up positions ahead of a
key U.S. government report on crop production and supplies, traders said.
* U.S. crude oil prices slid in opening trade on Sunday evening while diesel
futures rose after refineries in Philadelphia and Ohio were hit hard by fires
over the weekend, curtailing production of fuels and demand for crude.
MARKET NEWS
* The U.S. dollar took an early dip on Monday as Asian investors caught up with
a benign payrolls report and the subsequent slide in Treasury yields, though
turnover was light with Tokyo on holiday.
RELATED
> Brazil's Conab raises soy, corn forecasts slightly
> S.Korea's NOFI tenders for 560,000 T corn, plus wheat, soymeal
> Brazil water supply, crops still at risk a year after epic drought
> Canola-killing pathogen found for 1st time in top exporter Canada
> Argentina forecasts more dry weather as corn flowering begins
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance
to release data on Malaysia's Jan. 1-10 palm oil exports on Jan 12.
> Industry regulator the Malaysian Palm Oil Board (MPOB) to release data on
Malaysia's end-December palm oil stocks, exports and production on Jan 12.
Palm, soy and crude oil prices at 0007 GMT
Contract Month Last Change Low High Volume
MY PALM OIL JAN5 0 +0.00 0 0 0
MY PALM OIL FEB5 0 +0.00 0 0 0
MY PALM OIL MAR5 0 +0.00 0 0 0
CHINA PALM OLEIN MAY5 5068 -6.00 5044 5072 97072
CHINA SOYOIL MAY5 5756 +8.00 5728 5766 88988
CBOT SOY OIL MAR5 33.68 -5.60 0.00 0.00 0
INDIA PALM OIL JAN5 467.10 -5.60 466.30 470.80 1214
INDIA SOYOIL JAN5 666.00 -3.50 664.10 669.70 11725
NYMEX CRUDE FEB5 47.75 -0.61 47.55 48.19 5100
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
- Reuters
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