MARKET DEVELOPMENT
Vegoils: Market Factors to Watch Oct 15 Wednesday
Vegoils: Market Factors to Watch Oct 15 Wednesday
15/10/2014 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Wednesday.
FUNDAMENTALS
* Malaysian palm oil futures rose on Tuesday to snap a three-day losing streak, lifted by anticipation of delays in the record U.S. soybean harvest, alongside hopes that firm demand for palm would hold stockpiles in check.
* U.S. corn futures set a one-month high Tuesday and soybeans hit a three-week top on commercial demand amid harvest delays and slow farmer selling, coupled with chart-based buying, traders said.
* Oil dived more than $4 a barrel on Tuesday, its biggest drop in more than two years as mounting evidence of slackening demand and unrelenting U.S. shale output left traders struggling to peg a floor for crude's four-month rout.
MARKET NEWS
* Brent crude prices marked their biggest decline in more than three years on Tuesday and U.S. and German debt attracted buyers on lingering anxiety over world economic growth.
RELATED
> Indonesia likely to keep palm export tax at zero for Nov -industry
> Czech statistics office raises grain harvest estimate
> Argentina seen planting 20.6 mln hectares of soy '14/15 -exchange
> Russia looks to boost ag investment due to sanctions -attache
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 0033 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 5242 +4.00 5242 5324 961522
CHINA SOYOIL JAN5 0 +0.00 0 0 0
CBOT SOY OIL DEC4 32.72 -0.80 32.72 32.87 432
INDIA PALM OIL OCT4 445.80 -0.80 444.40 449.10 1159
INDIA SOYOIL OCT4 589.10 +0.30 588.00 592.50 13840
NYMEX CRUDE NOV4 82.17 +0.33 82.16 82.45 2418
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 rose on Tuesday to snap a three-day losing streak, lifted by anticipation of delays in the record U.S. soybean harvest, alongside hopes that firm demand for palm would hold stockpiles in check.
* U.S. corn futures set a one-month high Tuesday and soybeans hit a three-week top on commercial demand amid harvest delays and slow farmer selling, coupled with chart-based buying, traders said.
* Oil dived more than $4 a barrel on Tuesday, its biggest drop in more than two years as mounting evidence of slackening demand and unrelenting U.S. shale output left traders struggling to peg a floor for crude's four-month rout.
MARKET NEWS
* Brent crude prices marked their biggest decline in more than three years on Tuesday and U.S. and German debt attracted buyers on lingering anxiety over world economic growth.
RELATED
> Indonesia likely to keep palm export tax at zero for Nov -industry
> Czech statistics office raises grain harvest estimate
> Argentina seen planting 20.6 mln hectares of soy '14/15 -exchange
> Russia looks to boost ag investment due to sanctions -attache
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 0033 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 5242 +4.00 5242 5324 961522
CHINA SOYOIL JAN5 0 +0.00 0 0 0
CBOT SOY OIL DEC4 32.72 -0.80 32.72 32.87 432
INDIA PALM OIL OCT4 445.80 -0.80 444.40 449.10 1159
INDIA SOYOIL OCT4 589.10 +0.30 588.00 592.50 13840
NYMEX CRUDE NOV4 82.17 +0.33 82.16 82.45 2418
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