MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Sept 9
VEGOILS-Market Factors to Watch Sept 9
09/09/2015 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures reached a one-month high on Tuesday, buoyed by a weak ringgit currency and higher demand from refiners on improving margins.
* U.S. grain and soybean futures jumped on Tuesday on expectations that the U.S. Agriculture Department may lower its domestic harvest estimates at the end of the week.
* Brent crude settled up 4 percent on Tuesday as strength in stock markets helped the global oil benchmark recoup the bulk of its losses from the previous session.
MARKET NEWS
* Stock markets worldwide rallied on Tuesday on hopes of more stimulus measures in China and on strong German trade data, while Brent crude oil prices also rose.
RELATED
> Heavy rains soak Brazil's parched southeast coffee, cane belt
> Prices rise on U.S. harvest uncertainty, short-covering
> NY cocoa soars to 6-week high on crop concerns, strong chart
> EU clears ADM's acquisition of Belgium's AOR
> Potash might be prepared to make hostile K+S bid -Handelsblatt
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
* Malaysian palm oil futures reached a one-month high on Tuesday, buoyed by a weak ringgit currency and higher demand from refiners on improving margins.
* U.S. grain and soybean futures jumped on Tuesday on expectations that the U.S. Agriculture Department may lower its domestic harvest estimates at the end of the week.
* Brent crude settled up 4 percent on Tuesday as strength in stock markets helped the global oil benchmark recoup the bulk of its losses from the previous session.
MARKET NEWS
* Stock markets worldwide rallied on Tuesday on hopes of more stimulus measures in China and on strong German trade data, while Brent crude oil prices also rose.
RELATED
> Heavy rains soak Brazil's parched southeast coffee, cane belt
> Prices rise on U.S. harvest uncertainty, short-covering
> NY cocoa soars to 6-week high on crop concerns, strong chart
> EU clears ADM's acquisition of Belgium's AOR
> Potash might be prepared to make hostile K+S bid -Handelsblatt
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