MARKET DEVELOPMENT
Palm Oil/Vegoils: Market Factors to Watch Sept 22 Monday
Palm Oil/Vegoils: Market Factors to Watch Sept 22 Monday
22/09/2014 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Monday.
FUNDAMENTALS
* Malaysian palm oil futures slipped on Friday, tracking lower overseas soy markets and ending a five-day winning streak, but optimism for firm demand and a fragile ringgit prevented steeper losses to help palm notch its third straight weekly gain.
* U.S. wheat futures fell 2.9 percent to their lowest in more than four years on Friday, matching a similar low in Paris wheat futures, as a global supply glut overwhelmed demand and pressured prices.
* U.S. crude oil and Brent traded in opposite directions on Friday as a sell-off ahead of Monday's expiration kept U.S. prices down, while discussions of OPEC cutting output put strength into the market overseas.
MARKET NEWS
* Stock markets around the world closed flat on Friday as early gains failed to hold through the session, though the upward trend in equities continued and Alibaba soared in its historic U.S. trading debut.
RELATED
> Wheat, soybeans, corn fall sharply as supplies build
> Frost hurts northern U.S. corn, soy more than initial estimates
> ICE cocoa jumps to 3-1/2-year high on Ebola concern
> India's 2014/15 summer-sown grains output seen down 7 pct y/y
> Dry weather brings relief to Argentina's main wheat-growing area
> Thai govt offers soft loans for rubber purchases to prop up prices
DATA/EVENTS
> Cargo surveyors Intertek Testing Services to release Sept. 1-20 palm oil export data on Sept. 20. Cargo surveyor Societe Generale de Surveillance to release data for same period on Sept. 22.
Palm, soy and crude oil prices at 0012 GMT
Contract Month Last Change Low High Volume
MY PALM OIL OCT4 0 +0.00 0 0 0
MY PALM OIL NOV4 0 +0.00 0 0 0
MY PALM OIL DEC4 0 +0.00 0 0 0
CHINA PALM OLEIN JAN5 5186 -38.00 5158 5198 225712
CHINA SOYOIL JAN5 0 +0.00 0 0 0
CBOT SOY OIL DEC4 32.52 +1.80 32.50 32.58 625
INDIA PALM OIL SEP4 460.90 +1.80 456.20 462.40 659
#VALUE!
NYMEX CRUDE OCT4 92.37 -0.04 92.22 92.51 266
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
FUNDAMENTALS
* Malaysian palm oil futures slipped on Friday, tracking lower overseas soy markets and ending a five-day winning streak, but optimism for firm demand and a fragile ringgit prevented steeper losses to help palm notch its third straight weekly gain.
* U.S. wheat futures fell 2.9 percent to their lowest in more than four years on Friday, matching a similar low in Paris wheat futures, as a global supply glut overwhelmed demand and pressured prices.
* U.S. crude oil and Brent traded in opposite directions on Friday as a sell-off ahead of Monday's expiration kept U.S. prices down, while discussions of OPEC cutting output put strength into the market overseas.
MARKET NEWS
* Stock markets around the world closed flat on Friday as early gains failed to hold through the session, though the upward trend in equities continued and Alibaba soared in its historic U.S. trading debut.
RELATED
> Wheat, soybeans, corn fall sharply as supplies build
> Frost hurts northern U.S. corn, soy more than initial estimates
> ICE cocoa jumps to 3-1/2-year high on Ebola concern
> India's 2014/15 summer-sown grains output seen down 7 pct y/y
> Dry weather brings relief to Argentina's main wheat-growing area
> Thai govt offers soft loans for rubber purchases to prop up prices
DATA/EVENTS
> Cargo surveyors Intertek Testing Services to release Sept. 1-20 palm oil export data on Sept. 20. Cargo surveyor Societe Generale de Surveillance to release data for same period on Sept. 22.
Palm, soy and crude oil prices at 0012 GMT
Contract Month Last Change Low High Volume
MY PALM OIL OCT4 0 +0.00 0 0 0
MY PALM OIL NOV4 0 +0.00 0 0 0
MY PALM OIL DEC4 0 +0.00 0 0 0
CHINA PALM OLEIN JAN5 5186 -38.00 5158 5198 225712
CHINA SOYOIL JAN5 0 +0.00 0 0 0
CBOT SOY OIL DEC4 32.52 +1.80 32.50 32.58 625
INDIA PALM OIL SEP4 460.90 +1.80 456.20 462.40 659
#VALUE!
NYMEX CRUDE OCT4 92.37 -0.04 92.22 92.51 266
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