MARKET DEVELOPMENT
Vegoils: Market Factors to Watch Dec 10 Wednesday
Vegoils: Market Factors to Watch Dec 10 Wednesday
10/12/2014 (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 ended lower on Monday after crude markets dived to five-year lows, forcing the tropical oil to give up earlier gains which had stemmed from the ringgit plunging to its weakest since Sept. 2009.
* U.S. wheat futures fell 2 percent on Tuesday as Russia denied it was discussing grain export restrictions, while soybean futures rose for the fifth consecutive session on strong export demand.
* Brent oil prices ended higher on Tuesday after touching a 5-year low and following five straight days of losses, while U.S. crude also rose as players looked for a sustainable price in a market haunted by oversupply concerns.
MARKET NEWS
* Global equity markets fell on Tuesday after China's market posted its worst day in five years and political turmoil hit Greece, while the U.S. S&P 500 erased losses to end mostly flat on gains in technology and energy shares.
RELATED
> Malaysia's Felda Global to triple biodiesel output by 2016
> Cargill sees $1 bln investment in Indonesia; eyes poultry sector
> COLUMN-Traders eye late-year run-up in soy vs wheat spread: Maguire
> Rain forecast for Brazil coffee, cane belt into next week
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's Dec. 1-10 palm oil exports on Dec. 10.
> Industry regulator the Malaysian Palm Oil Board (MPOB) to release data on Malaysia's end-November palm oil stocks, exports and production on Dec. 10.
Palm, soy and crude oil prices at 0023 GMT
Contract Month Last Change Low High Volume
MY PALM OIL DEC4 0 +0.00 0 0 0
MY PALM OIL JAN5 0 +0.00 0 0 0
MY PALM OIL FEB5 0 +0.00 0 0 0
CHINA PALM OLEIN MAY5 5042 +32.00 5002 5058 661728
CHINA SOYOIL MAY5 0 +0.00 0 0 0
CBOT SOY OIL JAN5 31.96 -3.80 0.00 0.00 0
INDIA PALM OIL DEC4 421.20 -3.80 419.60 425.00 1429
INDIA SOYOIL DEC4 581.20 +0.05 578.00 583.00 24925
NYMEX CRUDE JAN5 63.19 -0.63 63.04 63.43 1899
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 ended lower on Monday after crude markets dived to five-year lows, forcing the tropical oil to give up earlier gains which had stemmed from the ringgit plunging to its weakest since Sept. 2009.
* U.S. wheat futures fell 2 percent on Tuesday as Russia denied it was discussing grain export restrictions, while soybean futures rose for the fifth consecutive session on strong export demand.
* Brent oil prices ended higher on Tuesday after touching a 5-year low and following five straight days of losses, while U.S. crude also rose as players looked for a sustainable price in a market haunted by oversupply concerns.
MARKET NEWS
* Global equity markets fell on Tuesday after China's market posted its worst day in five years and political turmoil hit Greece, while the U.S. S&P 500 erased losses to end mostly flat on gains in technology and energy shares.
RELATED
> Malaysia's Felda Global to triple biodiesel output by 2016
> Cargill sees $1 bln investment in Indonesia; eyes poultry sector
> COLUMN-Traders eye late-year run-up in soy vs wheat spread: Maguire
> Rain forecast for Brazil coffee, cane belt into next week
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's Dec. 1-10 palm oil exports on Dec. 10.
> Industry regulator the Malaysian Palm Oil Board (MPOB) to release data on Malaysia's end-November palm oil stocks, exports and production on Dec. 10.
Palm, soy and crude oil prices at 0023 GMT
Contract Month Last Change Low High Volume
MY PALM OIL DEC4 0 +0.00 0 0 0
MY PALM OIL JAN5 0 +0.00 0 0 0
MY PALM OIL FEB5 0 +0.00 0 0 0
CHINA PALM OLEIN MAY5 5042 +32.00 5002 5058 661728
CHINA SOYOIL MAY5 0 +0.00 0 0 0
CBOT SOY OIL JAN5 31.96 -3.80 0.00 0.00 0
INDIA PALM OIL DEC4 421.20 -3.80 419.60 425.00 1429
INDIA SOYOIL DEC4 581.20 +0.05 578.00 583.00 24925
NYMEX CRUDE JAN5 63.19 -0.63 63.04 63.43 1899
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