MARKET DEVELOPMENT
Vegoils: Market Factors to Watch Sept 23 Tuesday
Vegoils: Market Factors to Watch Sept 23 Tuesday
23/09/2014 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Tuesday.
FUNDAMENTALS
* Malaysian palm oil futures stretched losses into a second session on Monday to hit a more than one-week low, weighed down by falls in competing markets overseas and further technical correction.
* U.S. corn and soy futures fell to four-year lows on Monday, pressured by favorable weather for record harvests in the United States and a rising dollar that made the supplies less competitive in global markets.
* Crude oil futures fell on Monday as ample supply and slowing economic growth in Europe and China outweighed expectations of a cut in oil output from the Organization of the Petroleum Exporting Countries (OPEC).
MARKET NEWS
* Concern about a potential economic slowdown in China pressured world stock indexes on Monday and helped pushed Brent crude oil below $97 a barrel. Emerging markets sank, with the MSCI Emerging Market index .MSCIEF falling 1.3 percent, its biggest daily percentage drop since March. The dollar rose against the Australian dollar.
RELATED
> Malaysia's Sep 1-20 palm oil exports rose 26.0 pct -SGS
> Indonesia's monthly palm oil exports fall 6.5 pct m/m in Aug
> Tax war between Indonesia and Malaysia may spur palm oil demand
> Soybeans, corn tumble to 4-year lows on record U.S. harvests
> U.S. corn, soy ratings seen steady with last week - analysts
> China looks at non-traditional corn suppliers
> Cocoa at 3-1/2-yr peak on Ebola fears, sugar spread narrows
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's palm oil exports between Sept. 1-25 on Sept. 25.
Palm, soy and crude oil prices at 0019 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 5080 -54.00 5036 5124 823462
CHINA SOYOIL JAN5 0 +0.00 0 0 0
CBOT SOY OIL DEC4 31.97 -0.80 31.95 32.09 478
INDIA PALM OIL SEP4 459.10 -0.80 454.20 460.00 659
INDIA SOYOIL OCT4 592.80 -4.60 589.80 594.80 69265
NYMEX CRUDE NOV4 90.92 +0.05 90.58 91.01 1895
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 stretched losses into a second session on Monday to hit a more than one-week low, weighed down by falls in competing markets overseas and further technical correction.
* U.S. corn and soy futures fell to four-year lows on Monday, pressured by favorable weather for record harvests in the United States and a rising dollar that made the supplies less competitive in global markets.
* Crude oil futures fell on Monday as ample supply and slowing economic growth in Europe and China outweighed expectations of a cut in oil output from the Organization of the Petroleum Exporting Countries (OPEC).
MARKET NEWS
* Concern about a potential economic slowdown in China pressured world stock indexes on Monday and helped pushed Brent crude oil below $97 a barrel. Emerging markets sank, with the MSCI Emerging Market index .MSCIEF falling 1.3 percent, its biggest daily percentage drop since March. The dollar rose against the Australian dollar.
RELATED
> Malaysia's Sep 1-20 palm oil exports rose 26.0 pct -SGS
> Indonesia's monthly palm oil exports fall 6.5 pct m/m in Aug
> Tax war between Indonesia and Malaysia may spur palm oil demand
> Soybeans, corn tumble to 4-year lows on record U.S. harvests
> U.S. corn, soy ratings seen steady with last week - analysts
> China looks at non-traditional corn suppliers
> Cocoa at 3-1/2-yr peak on Ebola fears, sugar spread narrows
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's palm oil exports between Sept. 1-25 on Sept. 25.
Palm, soy and crude oil prices at 0019 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 5080 -54.00 5036 5124 823462
CHINA SOYOIL JAN5 0 +0.00 0 0 0
CBOT SOY OIL DEC4 31.97 -0.80 31.95 32.09 478
INDIA PALM OIL SEP4 459.10 -0.80 454.20 460.00 659
INDIA SOYOIL OCT4 592.80 -4.60 589.80 594.80 69265
NYMEX CRUDE NOV4 90.92 +0.05 90.58 91.01 1895
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