MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Nov 5
VEGOILS-Market Factors to Watch Nov 5
05/11/2014 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures slipped on Tuesday to snap a five-day winning streak as losses in the soy and crude oil markets dragged, although the weakening ringgit stemmed the fall and kept prices near three month highs.
* U.S. corn and soybean futures fell for the second day in a row on Tuesday on pressure from an advancing harvest that provided country elevators and processors around the U.S. Midwest with fresh supplies, traders said.
* Oil markets retreated from multi-year lows on Tuesday but still fell more than 2 percent after Saudi Arabia cut export prices to the United States threatening to deepen a global supply glut that has driven prices down 30 percent since June.
MARKET NEWS
* Global equity markets dipped on Tuesday and the euro firmed after a Reuters report saying central bankers in the euro zone plan to challenge European Central Bank President Mario Draghi's leadership style.
RELATED
> More than 40 pct of China's arable land degraded - Xinhua
> Cold front to bring widespread rain to southern, central Brazil
> China 2014 canola imports seen at record -report
> Brazil's big soy exporters await payment offer from Monsanto
> U.S. corn down 2.4 pct, soy off 1.8 pct on harvest pressure
> Brazil soy planting delay could hurt corn harvest, jam ports
> Informa raises U.S. 2014 corn crop estimate, lowers soy f'cast
> ICE arabica coffee, cocoa gain, bucking broader sell-off
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance released data on Malaysia's Nov. 1-10 palm oil exports on Nov. 10.
> Industry regulator the Malaysian Palm Oil Board (MPOB) to release data on Malaysia's end-October palm oil stocks, exports and production on Nov. 10
Palm, soy and crude oil prices at 0230 GMT
Contract Month Last Change Low High Volume
MY PALM OIL NOV4 0 +0.00 0 0 0
MY PALM OIL DEC4 2288 +1.00 2287 2289 6
MY PALM OIL JAN5 2281 +1.00 2280 2283 90
CHINA PALM OLEIN JAN5 5358 +8.00 5324 5372 430598
CHINA SOYOIL JAN5 5962 -20.00 5942 5980 132768
CBOT SOY OIL DEC4 34.17 +2.30 34.11 34.31 2318
INDIA PALM OIL OCT4 455.00 +2.30 451.70 456.90 451
INDIA SOYOIL NOV4 598.30 -8.65 598.30 610.00 78760
NYMEX CRUDE DEC4 80.98 -0.14 80.85 81.05 1550
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 Tuesday to snap a five-day winning streak as losses in the soy and crude oil markets dragged, although the weakening ringgit stemmed the fall and kept prices near three month highs.
* U.S. corn and soybean futures fell for the second day in a row on Tuesday on pressure from an advancing harvest that provided country elevators and processors around the U.S. Midwest with fresh supplies, traders said.
* Oil markets retreated from multi-year lows on Tuesday but still fell more than 2 percent after Saudi Arabia cut export prices to the United States threatening to deepen a global supply glut that has driven prices down 30 percent since June.
MARKET NEWS
* Global equity markets dipped on Tuesday and the euro firmed after a Reuters report saying central bankers in the euro zone plan to challenge European Central Bank President Mario Draghi's leadership style.
RELATED
> More than 40 pct of China's arable land degraded - Xinhua
> Cold front to bring widespread rain to southern, central Brazil
> China 2014 canola imports seen at record -report
> Brazil's big soy exporters await payment offer from Monsanto
> U.S. corn down 2.4 pct, soy off 1.8 pct on harvest pressure
> Brazil soy planting delay could hurt corn harvest, jam ports
> Informa raises U.S. 2014 corn crop estimate, lowers soy f'cast
> ICE arabica coffee, cocoa gain, bucking broader sell-off
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance released data on Malaysia's Nov. 1-10 palm oil exports on Nov. 10.
> Industry regulator the Malaysian Palm Oil Board (MPOB) to release data on Malaysia's end-October palm oil stocks, exports and production on Nov. 10
Palm, soy and crude oil prices at 0230 GMT
Contract Month Last Change Low High Volume
MY PALM OIL NOV4 0 +0.00 0 0 0
MY PALM OIL DEC4 2288 +1.00 2287 2289 6
MY PALM OIL JAN5 2281 +1.00 2280 2283 90
CHINA PALM OLEIN JAN5 5358 +8.00 5324 5372 430598
CHINA SOYOIL JAN5 5962 -20.00 5942 5980 132768
CBOT SOY OIL DEC4 34.17 +2.30 34.11 34.31 2318
INDIA PALM OIL OCT4 455.00 +2.30 451.70 456.90 451
INDIA SOYOIL NOV4 598.30 -8.65 598.30 610.00 78760
NYMEX CRUDE DEC4 80.98 -0.14 80.85 81.05 1550
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