MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Sept 11
VEGOILS-Market Factors to Watch Sept 11
11/09/2015 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures rose to a six-week high on Thursday due to a weaker ringgit, though data showing rising production and inventory weighed on sentiment.
* U.S. grain and soybean futures edged higher on Thursday, with corn topping a one-week high, on expectations that the Agriculture Department will trim its domestic harvest estimates in highly anticipated reports due out on Friday.
* Oil prices rallied on Thursday, with U.S. crude settling up 4 percent as indications of strong demand for gasoline overshadowed a report showing increased U.S. crude inventories.
MARKET NEWS
* Asian shares rose on Friday thanks to gains on Wall Street, while the dollar steadied after facing pressure from a rallying yuan and U.S. data that offered no clarity on whether the Federal Reserve might raise interest rates next week.
RELATED
> Brazil, India woes threaten tenuous sugar market recovery
> Brazil's sinking real drags coffee lower even as supplies tighten
> Corn tops 1-week high on expectation for U.S. harvest cut
> Platts' Kingsman pegs 2015/16 world sugar supply deficit at 1.2 mln tonnes
> El Nino to strengthen in winter but gradually weaken in spring
> French court confirms Monsanto guilty of chemical poisoning
> U.S. court finds EPA was wrong to approve Dow pesticide harmful to bees
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's September 1-15 palm oil exports on September 15.
Palm, soy and crude oil prices at 0023 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 4370 +56.00 4338 4398 411298
CHINA SOYOIL JAN6 5444 +42.00 5422 5470 320736
CBOT SOY OIL DEC5 27.22 +7.70 27.14 27.24 818
INDIA PALM OIL SEP5 387.80 +7.70 381.10 387.80 3187
INDIA SOYOIL OCT5 567.75 +7.60 560.30 567.80 53215
NYMEX CRUDE OCT5 45.63 -0.29 45.47 45.71 1931
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 to a six-week high on Thursday due to a weaker ringgit, though data showing rising production and inventory weighed on sentiment.
* U.S. grain and soybean futures edged higher on Thursday, with corn topping a one-week high, on expectations that the Agriculture Department will trim its domestic harvest estimates in highly anticipated reports due out on Friday.
* Oil prices rallied on Thursday, with U.S. crude settling up 4 percent as indications of strong demand for gasoline overshadowed a report showing increased U.S. crude inventories.
MARKET NEWS
* Asian shares rose on Friday thanks to gains on Wall Street, while the dollar steadied after facing pressure from a rallying yuan and U.S. data that offered no clarity on whether the Federal Reserve might raise interest rates next week.
RELATED
> Brazil, India woes threaten tenuous sugar market recovery
> Brazil's sinking real drags coffee lower even as supplies tighten
> Corn tops 1-week high on expectation for U.S. harvest cut
> Platts' Kingsman pegs 2015/16 world sugar supply deficit at 1.2 mln tonnes
> El Nino to strengthen in winter but gradually weaken in spring
> French court confirms Monsanto guilty of chemical poisoning
> U.S. court finds EPA was wrong to approve Dow pesticide harmful to bees
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's September 1-15 palm oil exports on September 15.
Palm, soy and crude oil prices at 0023 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 4370 +56.00 4338 4398 411298
CHINA SOYOIL JAN6 5444 +42.00 5422 5470 320736
CBOT SOY OIL DEC5 27.22 +7.70 27.14 27.24 818
INDIA PALM OIL SEP5 387.80 +7.70 381.10 387.80 3187
INDIA SOYOIL OCT5 567.75 +7.60 560.30 567.80 53215
NYMEX CRUDE OCT5 45.63 -0.29 45.47 45.71 1931
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