FUNDAMENTALS
* Farmers in Malaysia's southern state of Johor are worried
that stagnant flood waters would affect their palm oil yields,
after heavy rains last week displaced thousands of people in
several states, according to state news agency Bernama.
* Dalian's most-active soyoil contract rose 1.2%,
while its palm oil contract gained 2.2%. Soyoil prices
on the Chicago Board of Trade were up 1.3%.
* Palm oil is affected by price movements in related oils as
they compete for a share in the global vegetable oils market.
* Oil prices climbed on tensions in the Middle East
following a drone attack in Iran and as Beijing pledged over the
weekend to promote a consumption recovery which would support
fuel demand.
* Stronger crude oil futures make palm a more attractive
option for biodiesel feedstock.
* Palm oil may bounce more towards 3,980 ringgit, as it has
broken a resistance at 3,888 ringgit per tonne, Reuters
technical analyst Wang Tao said. MARKET NEWS
* Asian shares edged higher into a week that is certain to
see interest rates rise in Europe and the United States, along
with U.S. jobs and wage data that may influence how much further
they still have to go. DATA/EVENTS
0900 Germany GDP Flash QQ SA Q4
0900 Germany GDP Flash YY NSA Q4
($1 = 4.2360 ringgit)
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(Reporting by Mei Mei Chu; Editing by Subhranshu Sahu)
* To view freight rates from Peninsula Malaysia/Sumatra to China, India, Pakistan and Rotterdam, please key in and press enter, or double click between the brackets.
* Reuters Terminal users can see cash and futures edible oil prices by double clicking on the codes in the brackets: To go to the next page in the same chain, hit F12. To go back, hit F11. Vegetable oils Malaysian palm oil exports CBOT soyoil futures CBOT soybean futures Indian solvent Dalian Commodity Exchange Dalian soyoil futures Dalian refined palm oil futures Zhengzhou rapeseed oil European edible oil prices/trades ))
