MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Oct 27
VEGOILS-Market Factors to Watch Oct 27
27/10/2014 (Reuters) – The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures hit a two-week high on Friday, aided by firmer soy oil prices and with traders expecting prices to remain robust ahead of the onset of the monsoon season.
* U.S. grain and soybean futures tumbled on Friday as traders booked profits after prices climbed to their highest level in at least six weeks.
* Brent oil prices fell on Friday but were little changed on the week as traders caught their breath from a months-long rout, even as signs of rising global supply and a U.S. contango structure threatened deeper losses.
MARKET NEWS
* Global equity markets rose on Friday after strong corporate results from Microsoft and Procter & Gamble and reduced concerns over the possible spread of Ebola boosted U.S. shares and kept safe-haven U.S. Treasuries prices stable.
RELATED
> Vietnam buyers renege on corn, soymeal deals as prices sink
> Thai govt offers loans to farmers to delay rice sales
> Low soy prices put inflation-racked Argentina in a bind
> Blast, fire hits Louis Dreyfus Canada canola plant
> Markets sink from highest levels in at least six weeks
> ADM suspends cocoa roasting at German plant after fire
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's October 1-25 palm oil exports on Oct. 27.
Palm, soy and crude oil prices at 0631 GMT
Contract Month Last Change Low High Volume
MY PALM OIL OCT4 2102 -34.00 2098 2119 196
MY PALM OIL NOV4 2078 -35.00 2071 2093 4653
MY PALM OIL DEC4 2075 -36.00 2068 2091 13358
CHINA PALM OLEIN JAN5 5086 -138.00 5062 5198 687800
CHINA SOYOIL JAN5 5806 -164.00 5774 5928 646108
CBOT SOY OIL DEC4 32.15 -2.90 32.08 32.58 6361
INDIA PALM OIL SEP4 457.00 -2.90 454.20 457.90 183
INDIA SOYOIL OCT4 590.85 -6.55 590.20 593.00 22705
NYMEX CRUDE OCT4 91.82 -0.59 91.81 92.51 689
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 hit a two-week high on Friday, aided by firmer soy oil prices and with traders expecting prices to remain robust ahead of the onset of the monsoon season.
* U.S. grain and soybean futures tumbled on Friday as traders booked profits after prices climbed to their highest level in at least six weeks.
* Brent oil prices fell on Friday but were little changed on the week as traders caught their breath from a months-long rout, even as signs of rising global supply and a U.S. contango structure threatened deeper losses.
MARKET NEWS
* Global equity markets rose on Friday after strong corporate results from Microsoft and Procter & Gamble and reduced concerns over the possible spread of Ebola boosted U.S. shares and kept safe-haven U.S. Treasuries prices stable.
RELATED
> Vietnam buyers renege on corn, soymeal deals as prices sink
> Thai govt offers loans to farmers to delay rice sales
> Low soy prices put inflation-racked Argentina in a bind
> Blast, fire hits Louis Dreyfus Canada canola plant
> Markets sink from highest levels in at least six weeks
> ADM suspends cocoa roasting at German plant after fire
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's October 1-25 palm oil exports on Oct. 27.
Palm, soy and crude oil prices at 0631 GMT
Contract Month Last Change Low High Volume
MY PALM OIL OCT4 2102 -34.00 2098 2119 196
MY PALM OIL NOV4 2078 -35.00 2071 2093 4653
MY PALM OIL DEC4 2075 -36.00 2068 2091 13358
CHINA PALM OLEIN JAN5 5086 -138.00 5062 5198 687800
CHINA SOYOIL JAN5 5806 -164.00 5774 5928 646108
CBOT SOY OIL DEC4 32.15 -2.90 32.08 32.58 6361
INDIA PALM OIL SEP4 457.00 -2.90 454.20 457.90 183
INDIA SOYOIL OCT4 590.85 -6.55 590.20 593.00 22705
NYMEX CRUDE OCT4 91.82 -0.59 91.81 92.51 689
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