MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Nov 17
VEGOILS-Market Factors to Watch Nov 17
17/11/2014 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures slipped for a third day on Friday as crude prices hit four-year lows, causing palm to shave off gains made earlier in the week, with traders cautious ahead of export data due out in the coming week.
* Chicago Board of Trade wheat rose to a three-month high on Friday and posted its biggest weekly gain in two years, buoyed by fund buying and worries about a cold spell that could harm U.S. crop prospects, traders said.
* Brent crude jumped almost $2 a barrel on Friday for its biggest daily gain in three weeks as support emerged a day after prices crashed to four-year lows below $80, but analysts were skeptical the rebound would continue, citing concerns over oversupply.
MARKET NEWS
* The dollar rallied on Friday, helped by unexpectedly strong U.S. retail sales data, but global equity markets traded flat after a hefty run-up over the past three weeks put a damper on big gains in the near term.
RELATED
> India eyes lost Asian soymeal market share amid global price rally
> Euronext bets on maturing oilseed market with new derivatives
> Thai govt offers 2 mln T rice and 200,000 T rubber to China
> COLUMN-Agri investors need to get more picky in 2015
> ICE arabica coffee climbs on technical buying, cocoa falls
> Wheat at 3-month high, posts biggest weekly gain since 2012
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 0024 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 5356 -2.00 5314 5376 452494
CHINA SOYOIL MAY5 0 +0.00 0 0 0
CBOT SOY OIL DEC4 32.20 -0.70 0.00 0.00 0
INDIA PALM OIL NOV4 450.00 -0.70 446.00 450.20 852
INDIA SOYOIL NOV4 579.00 -3.85 578.00 582.70 11920
NYMEX CRUDE DEC4 75.73 -0.09 75.53 76.18 2912
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 for a third day on Friday as crude prices hit four-year lows, causing palm to shave off gains made earlier in the week, with traders cautious ahead of export data due out in the coming week.
* Chicago Board of Trade wheat rose to a three-month high on Friday and posted its biggest weekly gain in two years, buoyed by fund buying and worries about a cold spell that could harm U.S. crop prospects, traders said.
* Brent crude jumped almost $2 a barrel on Friday for its biggest daily gain in three weeks as support emerged a day after prices crashed to four-year lows below $80, but analysts were skeptical the rebound would continue, citing concerns over oversupply.
MARKET NEWS
* The dollar rallied on Friday, helped by unexpectedly strong U.S. retail sales data, but global equity markets traded flat after a hefty run-up over the past three weeks put a damper on big gains in the near term.
RELATED
> India eyes lost Asian soymeal market share amid global price rally
> Euronext bets on maturing oilseed market with new derivatives
> Thai govt offers 2 mln T rice and 200,000 T rubber to China
> COLUMN-Agri investors need to get more picky in 2015
> ICE arabica coffee climbs on technical buying, cocoa falls
> Wheat at 3-month high, posts biggest weekly gain since 2012
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 0024 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 5356 -2.00 5314 5376 452494
CHINA SOYOIL MAY5 0 +0.00 0 0 0
CBOT SOY OIL DEC4 32.20 -0.70 0.00 0.00 0
INDIA PALM OIL NOV4 450.00 -0.70 446.00 450.20 852
INDIA SOYOIL NOV4 579.00 -3.85 578.00 582.70 11920
NYMEX CRUDE DEC4 75.73 -0.09 75.53 76.18 2912
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