KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Friday Jan 16.
FUNDAMENTALS
* Malaysian palm oil futures rose on Thursday after a recent climb in crude oil,
with prices underpinned by concerns over a squeeze in the tropical oil's supply
as the No.2 grower braces for monsoon rains over the Borneo region.
* U.S. soybeans reversed earlier gains to fall 2 percent on Thursday, pressured
by a steep downturn in soymeal futures and smaller-than-expected private
crushing data.
* Oil prices declined on Thursday as an erratic dollar and expectations of
weakening demand dashed hopes that a strong rally Wednesday might have signaled
a bottom to the seven-month price rout.
MARKET NEWS
* Switzerland's move to jettison a three-year-old cap on the franc threw global
markets into turmoil on Thursday, sending the currency and most European shares
soaring while bond yields and Swiss equities tumbled.
RELATED
> EU policy-makers to consult farm sector on new antitrust rules
> Malaysia's Jan 1-15 palm oil exports fell 11.8 pct -SGS
> Indonesia keeps Jan crude palm oil export tax at zero
> USDA approves Monsanto's new GMO soybeans, cotton
> US December soy crush second biggest ever - NOPA
> Dry weather worries Brazil's center-west soy farmers
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance
to release data on Malaysia's Jan. 1-15 palm oil exports on Jan 15.
Palm, soy and crude oil prices at 0012 GMT
Contract Month Last Change Low High Volume
MY PALM OIL FEB5 0 +0.00 0 0 0
MY PALM OIL MAR5 0 +0.00 0 0 0
MY PALM OIL APR5 0 +0.00 0 0 0
CHINA PALM OLEIN MAY5 4922 -14.00 4920 4998 226594
CHINA SOYOIL MAY5 5602 -16.00 5602 5682 180368
CBOT SOY OIL MAR5 32.99 +0.90 0.00 0.00 0
INDIA PALM OIL JAN5 460.00 +0.90 460.00 465.90 1333
INDIA SOYOIL JAN5 673.80 +3.55 671.50 676.00 16500
NYMEX CRUDE FEB5 46.43 +0.18 45.95 46.52 1465
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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