KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Monday Feb 9.
FUNDAMENTALS
* Malaysian palm oil climbed for a fourth day to a three-week high on Friday on continued optimism over Indonesia’s biodiesel subsidy boost, ending the week with the benchmark’s biggest weekly gain in six years.
* U.S. soybeans ended lower on Friday as a jump in the dollar on strong employment data spurred technical selling, traders said. Additionally, forecasts of record soybean production in South America hung over prices.
* Oil prices jumped on Monday as falling U.S. oil rig counts and conflict in producer Libya helped stretch a rally from last week when crude surged the most since 2011.
MARKET NEWS
* Asian shares wobbled on Monday after dismal Chinese trade data eclipsed a strong U.S. jobs report, raising concerns about a deepening slowdown in the world’s second-largest economy and sending the Australian dollar sliding.
RELATED
> Indonesia approves threefold rise in biodiesel subsidies
> China shifts to new U.S. sorghum crop due to robust demand
> Sugar pares steep gains on producer selling; coffee firms
> Speculators hike bearish sugar bet; less bullish on cocoa -CFTC
> India oilmeal exports could drop 40 pct in 2014/15 -trade official
> U.S. soybeans fall as dollar rises on jobs data
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia’s Feb 1-10 palm oil exports on Feb. 10.
> Industry regulator the Malaysian Palm Oil Board (MPOB) to release data on Malaysia’s end-January palm oil stocks, exports and production on Feb 10.
Palm, soy and crude oil prices at 0452 GMT
| Contract | Month | Last | Change | Low | High | Volume |
| MY PALM OIL | FEB5 | 2240 | -24.00 | 2230 | 2254 | 29 |
| MY PALM OIL | MAR5 | 2228 | -19.00 | 2220 | 2249 | 388 |
| MY PALM OIL | APR5 | 2210 | -20.00 | 2202 | 2222 | 7986 |
| CHINA PALM OLEIN | MAY5 | 4846 | -22.00 | 4844 | 4874 | 180294 |
| CHINA SOYOIL | MAY5 | 5514 | -52.00 | 5508 | 5562 | 240078 |
| CBOT SOY OIL | MAR5 | 31.48 | -3.50 | 31.47 | 31.57 | 2367 |
| INDIA PALM OIL | JAN5 | 434.90 | -3.50 | 434.00 | 439.50 | 488 |
| INDIA SOYOIL | FEB5 | 616.00 | -9.00 | 615.70 | 624.80 | 50145 |
| NYMEX CRUDE | MAR5 | 45.06 | -0.53 | 44.35 | 45.35 | 25835 |
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
