MARKET DEVELOPMENT
VEGOILSPALM OIL - Market Factors To Watch Sept 23 (Monday)
VEGOILSPALM OIL - Market Factors To Watch Sept 23 (Monday)
23/09/2013 (The Star) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Monday.
FUNDAMENTALS
* Malaysian palm oil futures fell for the third straight session on Friday and extended declines for a second week as a stronger local currency curbed appetite from overseas buyers, although strong export numbers limited losses.
* Chicago Board of Trade corn and soybean futures closed at their lowest in roughly a month Friday, pushed down by seasonal pressure from the start of the U.S. harvest, traders said.
* Brent crude oil rose on Friday and front-month U.S. crude fell heading into expiry as traders took profits on the spread between the two contracts.
MARKET NEWS
* Gold prices and stocks on major markets gave back some gains on Friday after soaring this week in the wake of the Federal Reserve's unexpected decision to maintain its monetary stimulus.
* Gold and most other commodities tumbled on Friday after fresh speculation
there might be cuts to U.S. Federal Reserve stimulus by next month
after this week's decision by the bank to delay the move.
RELATED NEWS
> Palm oil prices to rise 9 pct by Feb 2014 -analyst Fry
> Informa ups US corn, soy forecasts; 2014 soy area to rise
> Alarm at soy overplanting in Argentina
> India to consider raising refined palm oil import tax
> Brazil's top soy state less than 0.5 pct planted, rains lacking
> Malaysia's Sept 1-20 palm oil exports up 9.2 pct - SGS
> Malaysia's Sept 1-20 palm oil exports up 13.1 pct -ITS
> India's 2013/14 edible oil imports seen at record-trade expert
> Indonesia unchanged crude palm oil, cocoa export tax for Oct
> Indonesia frees up soybean import rules again -official
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance will release Malaysia's Sept. 1-25 palm export data on Wednesday.
Key commodity markets at 2345 GMT
Contract Month Last Change Low High Volume
RINGGIT/USD 3.164 +0.02 0 0
CHINA PALM OLEIN JAN4 0 +0.00 0 0 0
CHINA SOYOIL JAN4 0 +0.00 0 0 0
CBOT SOYOIL DEC3 42.46 +0.12 0.00 0.00 0
NYMEX CRUDE NOV3 104.50 -0.25 104.42 104.89 2010
CBOT soy oil in U.S. cents per pound
Dalian soy oil in Chinese yuan per tonne
Crude in U.S. dollars per barrel - Reutersble oil markets on Monday
FUNDAMENTALS
* Malaysian palm oil futures fell for the third straight session on Friday and extended declines for a second week as a stronger local currency curbed appetite from overseas buyers, although strong export numbers limited losses.
* Chicago Board of Trade corn and soybean futures closed at their lowest in roughly a month Friday, pushed down by seasonal pressure from the start of the U.S. harvest, traders said.
* Brent crude oil rose on Friday and front-month U.S. crude fell heading into expiry as traders took profits on the spread between the two contracts.
MARKET NEWS
* Gold prices and stocks on major markets gave back some gains on Friday after soaring this week in the wake of the Federal Reserve's unexpected decision to maintain its monetary stimulus.
* Gold and most other commodities tumbled on Friday after fresh speculation
there might be cuts to U.S. Federal Reserve stimulus by next month
after this week's decision by the bank to delay the move.
RELATED NEWS
> Palm oil prices to rise 9 pct by Feb 2014 -analyst Fry
> Informa ups US corn, soy forecasts; 2014 soy area to rise
> Alarm at soy overplanting in Argentina
> India to consider raising refined palm oil import tax
> Brazil's top soy state less than 0.5 pct planted, rains lacking
> Malaysia's Sept 1-20 palm oil exports up 9.2 pct - SGS
> Malaysia's Sept 1-20 palm oil exports up 13.1 pct -ITS
> India's 2013/14 edible oil imports seen at record-trade expert
> Indonesia unchanged crude palm oil, cocoa export tax for Oct
> Indonesia frees up soybean import rules again -official
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance will release Malaysia's Sept. 1-25 palm export data on Wednesday.
Key commodity markets at 2345 GMT
Contract Month Last Change Low High Volume
RINGGIT/USD 3.164 +0.02 0 0
CHINA PALM OLEIN JAN4 0 +0.00 0 0 0
CHINA SOYOIL JAN4 0 +0.00 0 0 0
CBOT SOYOIL DEC3 42.46 +0.12 0.00 0.00 0
NYMEX CRUDE NOV3 104.50 -0.25 104.42 104.89 2010
CBOT soy oil in U.S. cents per pound
Dalian soy oil in Chinese yuan per tonne
Crude in U.S. dollars per barrel - Reutersble oil markets on Monday