MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Sept 14
VEGOILS-Market Factors to Watch Sept 14
14/09/2015 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures fell back after reaching a seven-week high on Friday on sustained buying by traders, despite data showing higher production and inventory levels.
* U.S. soybean futures bounced on Friday after a surprise increase in the Department of Agriculture's autumn harvest forecast knocked prices to six-year lows.
* Crude futures fell 2 percent or more on Friday after influential Wall Street trader Goldman Sachs cut its outlook on oil, but positive sentiment from rebounding U.S. stock prices and less drilling for oil helped the market pare losses.
MARKET NEWS
* Asian shares edged up on Monday in cautious trade, brushing off soft economic data from China, as investors looked to whether the U.S. Federal Reserve is confident enough to raise interest rates for the first time in a decade.
RELATED
> USDA issues surprise bump to soy harvest view; futures tumble
> Coast Guard closes part of Mississippi River after barge incident
> French maize crop condition improved last week - farm office
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 0028 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 4280 -82.00 4266 4334 352024
CHINA SOYOIL JAN6 5374 -70.00 5356 5428 247082
CBOT SOY OIL DEC5 26.96 -0.10 26.72 26.99 838
INDIA PALM OIL SEP5 386.00 -0.10 384.70 389.90 3164
INDIA SOYOIL OCT5 565.90 -0.95 564.50 568.30 40245
NYMEX CRUDE OCT5 44.84 +0.21 44.75 44.97 1907
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 fell back after reaching a seven-week high on Friday on sustained buying by traders, despite data showing higher production and inventory levels.
* U.S. soybean futures bounced on Friday after a surprise increase in the Department of Agriculture's autumn harvest forecast knocked prices to six-year lows.
* Crude futures fell 2 percent or more on Friday after influential Wall Street trader Goldman Sachs cut its outlook on oil, but positive sentiment from rebounding U.S. stock prices and less drilling for oil helped the market pare losses.
MARKET NEWS
* Asian shares edged up on Monday in cautious trade, brushing off soft economic data from China, as investors looked to whether the U.S. Federal Reserve is confident enough to raise interest rates for the first time in a decade.
RELATED
> USDA issues surprise bump to soy harvest view; futures tumble
> Coast Guard closes part of Mississippi River after barge incident
> French maize crop condition improved last week - farm office
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 0028 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 4280 -82.00 4266 4334 352024
CHINA SOYOIL JAN6 5374 -70.00 5356 5428 247082
CBOT SOY OIL DEC5 26.96 -0.10 26.72 26.99 838
INDIA PALM OIL SEP5 386.00 -0.10 384.70 389.90 3164
INDIA SOYOIL OCT5 565.90 -0.95 564.50 568.30 40245
NYMEX CRUDE OCT5 44.84 +0.21 44.75 44.97 1907
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