MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Oct 13
VEGOILS-Market Factors to Watch Oct 13
13/10/2014 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures slipped to a one-week low on Friday, shaving off some gains made earlier this week as tumbling crude prices and disappointing export data stoked fears of weaker appetite for palm.
* Chicago Board of Trade corn and soybean futures dropped on Friday, with big crops in focus following a U.S. Agriculture Department report that boosted already-record forecasts for U.S. production.
* Global oil prices rebounded on Friday, after sinking to the lowest levels in nearly four years earlier in the day, as end-of-week short-covering stalled a near four-month price rout.
MARKET NEWS
* Stocks in major global markets closed out one of their worst weeks of the year on Friday, with an index of global equities hitting an eight-month low, and oil slumping to a four-year low as worries about slowing global economic growth darkened the investment outlook.
RELATED
> Ukraine to lose 45,000 hectare of grains harvest due to fighting in east
> USDA hikes 14/15 sugar supply estimate on Mexico imports, U.S. output
> U.S. forecasts 2015 pork output to top beef for first time in 62 yrs
> INTERVIEW-Argentina expected to double biodiesel exports in 2014
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's October 1-15 palm oil exports on Oct. 15.
Palm, soy and crude oil prices at 0010 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 5210 -20.00 5184 5226 579756
CHINA SOYOIL JAN5 0 +0.00 0 0 0
CBOT SOY OIL DEC4 32.34 -2.80 32.31 32.50 701
INDIA PALM OIL OCT4 452.60 -2.80 447.70 453.20 2178
INDIA SOYOIL OCT4 598.20 -6.55 597.50 603.50 30885
NYMEX CRUDE NOV4 84.74 -1.08 84.25 85.63 7525
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 to a one-week low on Friday, shaving off some gains made earlier this week as tumbling crude prices and disappointing export data stoked fears of weaker appetite for palm.
* Chicago Board of Trade corn and soybean futures dropped on Friday, with big crops in focus following a U.S. Agriculture Department report that boosted already-record forecasts for U.S. production.
* Global oil prices rebounded on Friday, after sinking to the lowest levels in nearly four years earlier in the day, as end-of-week short-covering stalled a near four-month price rout.
MARKET NEWS
* Stocks in major global markets closed out one of their worst weeks of the year on Friday, with an index of global equities hitting an eight-month low, and oil slumping to a four-year low as worries about slowing global economic growth darkened the investment outlook.
RELATED
> Ukraine to lose 45,000 hectare of grains harvest due to fighting in east
> USDA hikes 14/15 sugar supply estimate on Mexico imports, U.S. output
> U.S. forecasts 2015 pork output to top beef for first time in 62 yrs
> INTERVIEW-Argentina expected to double biodiesel exports in 2014
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's October 1-15 palm oil exports on Oct. 15.
Palm, soy and crude oil prices at 0010 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 5210 -20.00 5184 5226 579756
CHINA SOYOIL JAN5 0 +0.00 0 0 0
CBOT SOY OIL DEC4 32.34 -2.80 32.31 32.50 701
INDIA PALM OIL OCT4 452.60 -2.80 447.70 453.20 2178
INDIA SOYOIL OCT4 598.20 -6.55 597.50 603.50 30885
NYMEX CRUDE NOV4 84.74 -1.08 84.25 85.63 7525
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