MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Sept 11
VEGOILS-Market Factors to Watch Sept 11
11/09/2014 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures inched lower on Wednesday, tracking losses in crude and vegetable oil markets overseas with investors bracing for forecasts of bigger global oilseed supplies, although a surge in palm export curbed losses.
* New-crop U.S. soybean futures hit a new contract low on Wednesday and corn matched its contract low ahead of the release of U.S. crop reports that are expected to show a rise in the government's harvest projections.
* U.S. crude futures fell to a 16-month low and Brent to a 17-month low on Wednesday on rising supply and tepid demand as OPEC lowered projected demand for its crude and data showed U.S. refined product stocks jumped.
MARKET NEWS
* U.S. stocks rose on Wednesday, helped by a rebound in Apple shares, while expectations for a stronger economy and thus higher interest rates from the Federal Reserve boosted the dollar to a six-year high against the yen.
RELATED
> U.S. lawmakers fault rail sector for slow service, profits
> U.S. grain glut is testing rail and storage system -official
> Argentina corn farmers worried by low prices, lack of export quota
> Wal-Mart joins U.S. crop-tour fever seeking food chain edge
> Canadian city of Calgary struggles with late summer snowfall
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release Sept. 1-15 palm oil export data on Sept. 15
Palm, soy and crude oil prices at 0019 GMT
Contract Month Last Change Low High Volume
MY PALM OIL SEP4 0 +0.00 0 0 0
MY PALM OIL OCT4 0 +0.00 0 0 0
MY PALM OIL NOV4 0 +0.00 0 0 0
CHINA PALM OLEIN JAN5 5146 +8.00 5132 5156 162472
CHINA SOYOIL JAN5 0 +0.00 0 0 0
CBOT SOY OIL DEC4 31.83 +0.00 31.80 31.86 442
NYMEX CRUDE OCT4 91.68 +0.01 91.61 91.91 1439
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
Crude in U.S. dollars per barrel
FUNDAMENTALS
* Malaysian palm oil futures inched lower on Wednesday, tracking losses in crude and vegetable oil markets overseas with investors bracing for forecasts of bigger global oilseed supplies, although a surge in palm export curbed losses.
* New-crop U.S. soybean futures hit a new contract low on Wednesday and corn matched its contract low ahead of the release of U.S. crop reports that are expected to show a rise in the government's harvest projections.
* U.S. crude futures fell to a 16-month low and Brent to a 17-month low on Wednesday on rising supply and tepid demand as OPEC lowered projected demand for its crude and data showed U.S. refined product stocks jumped.
MARKET NEWS
* U.S. stocks rose on Wednesday, helped by a rebound in Apple shares, while expectations for a stronger economy and thus higher interest rates from the Federal Reserve boosted the dollar to a six-year high against the yen.
RELATED
> U.S. lawmakers fault rail sector for slow service, profits
> U.S. grain glut is testing rail and storage system -official
> Argentina corn farmers worried by low prices, lack of export quota
> Wal-Mart joins U.S. crop-tour fever seeking food chain edge
> Canadian city of Calgary struggles with late summer snowfall
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release Sept. 1-15 palm oil export data on Sept. 15
Palm, soy and crude oil prices at 0019 GMT
Contract Month Last Change Low High Volume
MY PALM OIL SEP4 0 +0.00 0 0 0
MY PALM OIL OCT4 0 +0.00 0 0 0
MY PALM OIL NOV4 0 +0.00 0 0 0
CHINA PALM OLEIN JAN5 5146 +8.00 5132 5156 162472
CHINA SOYOIL JAN5 0 +0.00 0 0 0
CBOT SOY OIL DEC4 31.83 +0.00 31.80 31.86 442
NYMEX CRUDE OCT4 91.68 +0.01 91.61 91.91 1439
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
Crude in U.S. dollars per barrel