MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Nov 6
VEGOILS-Market Factors to Watch Nov 6
06/11/2014 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures fell for a second day to a one-week low on Wednesday, tracking steep losses in soy and crude oil, and further pressured by another round of correction.
* U.S. wheat futures on Wednesday fell 1.1 percent to their lowest in more than a week on poor export demand for U.S. supplies and pressure from a firm U.S. dollar, traders said.
* Oil prices jumped on Wednesday, with Brent rebounding from a four-year-low, as traders reacted to rumors of a pipeline blast in Saudi Arabia and bullish news on U.S. crude inventories.
MARKET NEWS
* The dollar surged to a seven-year high against the yen and global equity markets rallied on Wednesday after the Republican Party seized control of the U.S. Senate in midterm elections, auguring well for pro-energy and other business policies.
RELATED
> India, isolated, toughs it out in WTO food-stockpiling row
> Wheat drops on sluggish export prospects; corn, soy rise
> China sets price for cotton subsidy scheme
> Agrium to cut 500 jobs, sell some businesses
> ICE raw sugar hits 1-mth low, coffee falls on Brazil rains
> A fraction of India's sugar mills start production amid pricing
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 0017 GMT
Contract Month Last Change Low High Volume
MY PALM OIL NOV4 0 +0.00 0 0 0
MY PALM OIL DEC4 0 +0.00 0 0 0
MY PALM OIL JAN5 0 +0.00 0 0 0
CHINA PALM OLEIN JAN5 5232 -32.00 5164 5240 329662
CHINA SOYOIL MAY5 0 +0.00 0 0 0
CBOT SOY OIL DEC4 32.72 -4.00 0.00 0.00 0
INDIA PALM OIL NOV4 454.50 -4.00 447.50 457.70 1653
INDIA SOYOIL NOV4 587.80 -3.15 581.30 595.80 51665
NYMEX CRUDE DEC4 78.86 +0.18 78.85 78.98 618
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 fell for a second day to a one-week low on Wednesday, tracking steep losses in soy and crude oil, and further pressured by another round of correction.
* U.S. wheat futures on Wednesday fell 1.1 percent to their lowest in more than a week on poor export demand for U.S. supplies and pressure from a firm U.S. dollar, traders said.
* Oil prices jumped on Wednesday, with Brent rebounding from a four-year-low, as traders reacted to rumors of a pipeline blast in Saudi Arabia and bullish news on U.S. crude inventories.
MARKET NEWS
* The dollar surged to a seven-year high against the yen and global equity markets rallied on Wednesday after the Republican Party seized control of the U.S. Senate in midterm elections, auguring well for pro-energy and other business policies.
RELATED
> India, isolated, toughs it out in WTO food-stockpiling row
> Wheat drops on sluggish export prospects; corn, soy rise
> China sets price for cotton subsidy scheme
> Agrium to cut 500 jobs, sell some businesses
> ICE raw sugar hits 1-mth low, coffee falls on Brazil rains
> A fraction of India's sugar mills start production amid pricing
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 0017 GMT
Contract Month Last Change Low High Volume
MY PALM OIL NOV4 0 +0.00 0 0 0
MY PALM OIL DEC4 0 +0.00 0 0 0
MY PALM OIL JAN5 0 +0.00 0 0 0
CHINA PALM OLEIN JAN5 5232 -32.00 5164 5240 329662
CHINA SOYOIL MAY5 0 +0.00 0 0 0
CBOT SOY OIL DEC4 32.72 -4.00 0.00 0.00 0
INDIA PALM OIL NOV4 454.50 -4.00 447.50 457.70 1653
INDIA SOYOIL NOV4 587.80 -3.15 581.30 595.80 51665
NYMEX CRUDE DEC4 78.86 +0.18 78.85 78.98 618
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