MARKET DEVELOPMENT
Vegoils: Market Factors to Watch Nov 12 Wed
Vegoils: Market Factors to Watch Nov 12 Wed
12/11/2014 (The Star) - 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 after the ringgit slumped to a four-year low and on expectations of a drop in output of the commodity in the No.2 producer this month, traders said.
* U.S. soybean futures surged nearly 4 percent on Tuesday on strength in the cash market as slow country movement and heavy export commitments left soy processors scrambling for supplies, despite a record U.S. harvest.
* Benchmark Brent crude closed down on Tuesday after setting a four-year low and coming close to testing the psychologically important $80 a barrel support, as traders continued to seek a bottom to a selloff that began in June.
MARKET NEWS
* U.S. stock prices held steady on Tuesday after the Dow and Standard & Poor's 500 hit record intraday highs for a fifth straight session, while the dollar rose against the yen on the prospect of a delay in a planned sales tax hike in Japan.
RELATED
> Weak palm processing business pegs back Wilmar Q3 net profit growth
> Indonesia's 2015 palm output growth to slow after drought -industry
> Brazil government forecasts 89.3-91.7 mln tonne soy crop
> GMO battles over 'settled' science spur new study of crops
> EU wheat prices rise on strong export outlook
> U.S. Midwest cold spell to hinder wheat growth -meteorologist
> German rapeseed sowings for 2015 crop down 5.2 pct on year
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's Nov. 1-15 palm oil exports on Nov. 17.
Palm, soy and crude oil prices at 0032 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 MAY5 5440 +66.00 5380 5444 581342
CHINA SOYOIL MAY5 0 +0.00 0 0 0
CBOT SOY OIL DEC4 32.87 +2.20 0.00 0.00 0
INDIA PALM OIL NOV4 450.70 +2.20 444.20 451.00 1034
NYMEX CRUDE DEC4 77.45 -0.49 77.41 77.60 494
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 after the ringgit slumped to a four-year low and on expectations of a drop in output of the commodity in the No.2 producer this month, traders said.
* U.S. soybean futures surged nearly 4 percent on Tuesday on strength in the cash market as slow country movement and heavy export commitments left soy processors scrambling for supplies, despite a record U.S. harvest.
* Benchmark Brent crude closed down on Tuesday after setting a four-year low and coming close to testing the psychologically important $80 a barrel support, as traders continued to seek a bottom to a selloff that began in June.
MARKET NEWS
* U.S. stock prices held steady on Tuesday after the Dow and Standard & Poor's 500 hit record intraday highs for a fifth straight session, while the dollar rose against the yen on the prospect of a delay in a planned sales tax hike in Japan.
RELATED
> Weak palm processing business pegs back Wilmar Q3 net profit growth
> Indonesia's 2015 palm output growth to slow after drought -industry
> Brazil government forecasts 89.3-91.7 mln tonne soy crop
> GMO battles over 'settled' science spur new study of crops
> EU wheat prices rise on strong export outlook
> U.S. Midwest cold spell to hinder wheat growth -meteorologist
> German rapeseed sowings for 2015 crop down 5.2 pct on year
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's Nov. 1-15 palm oil exports on Nov. 17.
Palm, soy and crude oil prices at 0032 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 MAY5 5440 +66.00 5380 5444 581342
CHINA SOYOIL MAY5 0 +0.00 0 0 0
CBOT SOY OIL DEC4 32.87 +2.20 0.00 0.00 0
INDIA PALM OIL NOV4 450.70 +2.20 444.20 451.00 1034
NYMEX CRUDE DEC4 77.45 -0.49 77.41 77.60 494
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