MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Sept 7
VEGOILS-Market Factors to Watch Sept 7
07/09/2015 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and othervegetable oil markets.
FUNDAMENTALS
* Malaysia palm oil futures held near a two-week high on Friday, continuing a recovery from a multi-year low hit last week on worries about economic growth in key consumer China.
* Chicago wheat edged higher after touching a five-year low on Friday, and corn also inched up as investors covered short positions in both grains after recent declines.
* Crude futures fell about 2 percent on Friday as traders shrugged off a drop in the number of U.S. rigs drilling for oil and focused instead on a supply glut and declining stock prices on Wall Street.
MARKET NEWS
* Stocks on major markets fell on Friday, closing out another tough week for equity markets, after the monthly U.S. employment report failed to provide a clear signal on the likelihood of the first Federal Reserve interest rate rise for nearly a decade later this month.
RELATED
> El Nino seen pushing Argentina into planting more soy, less corn
> Forward sales of Brazil soybeans slow despite favorable currency
> India edible oil producers fight losing battle to cheap palm oil
> Raw sugar drops from 5-week high, cocoa at 1-month peak
> India saves $1.8 bln on fertiliser subsidies,but no reform planned
DATA/EVENTS
> Malaysian Palm Oil Board to release data on Malaysia's August palm oil production on September 10.
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's September 1-10 palm oil exports on September 10.
Palm, soy and crude oil prices at 0005 GMT
Contract Month Last Change Low High Volume
MY PALM OIL SEP5 0 +0.00 0 0 0
MY PALM OIL OCT5 0 +0.00 0 0 0
MY PALM OIL NOV5 0 +0.00 0 0 0
CHINA PALM OLEIN JAN6 0 +0.00 0 0 0
CHINA SOYOIL JAN6 0 +0.00 0 0 0
CBOT SOY OIL DEC5 27.08 +4.50 26.98 27.09 438
INDIA PALM OIL SEP5 380.00 +4.50 375.50 381.90 2781
INDIA SOYOIL OCT5 573.00 +0.65 571.20 574.50 37125
NYMEX CRUDE OCT5 46.77 +0.02 46.61 46.85 1086
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
* Malaysia palm oil futures held near a two-week high on Friday, continuing a recovery from a multi-year low hit last week on worries about economic growth in key consumer China.
* Chicago wheat edged higher after touching a five-year low on Friday, and corn also inched up as investors covered short positions in both grains after recent declines.
* Crude futures fell about 2 percent on Friday as traders shrugged off a drop in the number of U.S. rigs drilling for oil and focused instead on a supply glut and declining stock prices on Wall Street.
MARKET NEWS
* Stocks on major markets fell on Friday, closing out another tough week for equity markets, after the monthly U.S. employment report failed to provide a clear signal on the likelihood of the first Federal Reserve interest rate rise for nearly a decade later this month.
RELATED
> El Nino seen pushing Argentina into planting more soy, less corn
> Forward sales of Brazil soybeans slow despite favorable currency
> India edible oil producers fight losing battle to cheap palm oil
> Raw sugar drops from 5-week high, cocoa at 1-month peak
> India saves $1.8 bln on fertiliser subsidies,but no reform planned
DATA/EVENTS
> Malaysian Palm Oil Board to release data on Malaysia's August palm oil production on September 10.
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's September 1-10 palm oil exports on September 10.
Palm, soy and crude oil prices at 0005 GMT
Contract Month Last Change Low High Volume
MY PALM OIL SEP5 0 +0.00 0 0 0
MY PALM OIL OCT5 0 +0.00 0 0 0
MY PALM OIL NOV5 0 +0.00 0 0 0
CHINA PALM OLEIN JAN6 0 +0.00 0 0 0
CHINA SOYOIL JAN6 0 +0.00 0 0 0
CBOT SOY OIL DEC5 27.08 +4.50 26.98 27.09 438
INDIA PALM OIL SEP5 380.00 +4.50 375.50 381.90 2781
INDIA SOYOIL OCT5 573.00 +0.65 571.20 574.50 37125
NYMEX CRUDE OCT5 46.77 +0.02 46.61 46.85 1086
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