MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Sept 18
VEGOILS-Market Factors to Watch Sept 18
18/09/2015 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures ended higher on Tuesday, recovering from a near one-month low hit earlier in the session, as overseas soy markets improved and strong exports in the first half of September lifted investor sentiment.
* Chicago Board of Trade soybean futures fell for a third straight session on Tuesday on technical weakness and softening cash markets ahead of the U.S. harvest, traders said.
* Brent crude oil prices settled at a six-week low on Tuesday as major world powers met to draft a resolution to destroy Syria's cache of chemical weapons, calming investor fears of an imminent U.S. military response. The resumption of some Libyan output also pressured prices.
MARKET NEWS
* The dollar retreated and global equity markets were flat to modestly higher on Tuesday as Federal Reserve policymakers began a two-day meeting where they are expected to decide to begin to roll back the Fed's stimulus program.
* Oil prices fell on Tuesday as investors saw little danger of an U.S. attack on Syria that could disrupt Middle East oil supplies, and gold slipped in anticipation the U.S. Federal Reserve will announce a cut in its bond-buying stimulus.
RELATED NEWS
> Malaysia's Sept 1-15 palm oil exports up 12.4 pct -SGS
> UPDATE 1-Malaysia's Sept 1-15 palm exports up 13.6 pct -ITS
> Malaysia keeps crude palm oil export tax at 4.5 pct for October
> U.S. soybeans fall on technicals, harvest
> COLUMN-Soymeal bears smell blood as prices near seasonal top
> Rains to soak Brazil's cane, coffee belts -forecaster Somar
> Brazilian soy farmers await rain to start planting
> Coffee sinks to multi-year lows on bearish charts
> Chinese importers sign deals to buy $2.8 billion of U.S. soybeans
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance will release Malaysia's Sept. 1-15 palm export data on Sept. 17 due to the Malaysia Day holiday weekend.
> Malaysia's government to set its crude palm oil export tax for October on Sept. 17. Key commodity markets at 2352 GMT
Contract Month Last Change Low High Volume
RINGGIT/USD 3.2375 -0.01 3.2415 3.241
CHINA PALM OLEIN JAN4 0 +0.00 0 0 0
CHINA SOYOIL JAN4 0 +0.00 0 0 0
CBOT SOYOIL DEC3 42.24 +0.00 0.00 0.00 0
NYMEX CRUDE OCT3 105.50 +0.08 105.50 105.74 937
CBOT soy oil in U.S. cents per pound
Dalian soy oil in Chinese yuan per tonne
Crude in U.S. dollars per barrel
FUNDAMENTALS
* Malaysian palm oil futures ended higher on Tuesday, recovering from a near one-month low hit earlier in the session, as overseas soy markets improved and strong exports in the first half of September lifted investor sentiment.
* Chicago Board of Trade soybean futures fell for a third straight session on Tuesday on technical weakness and softening cash markets ahead of the U.S. harvest, traders said.
* Brent crude oil prices settled at a six-week low on Tuesday as major world powers met to draft a resolution to destroy Syria's cache of chemical weapons, calming investor fears of an imminent U.S. military response. The resumption of some Libyan output also pressured prices.
MARKET NEWS
* The dollar retreated and global equity markets were flat to modestly higher on Tuesday as Federal Reserve policymakers began a two-day meeting where they are expected to decide to begin to roll back the Fed's stimulus program.
* Oil prices fell on Tuesday as investors saw little danger of an U.S. attack on Syria that could disrupt Middle East oil supplies, and gold slipped in anticipation the U.S. Federal Reserve will announce a cut in its bond-buying stimulus.
RELATED NEWS
> Malaysia's Sept 1-15 palm oil exports up 12.4 pct -SGS
> UPDATE 1-Malaysia's Sept 1-15 palm exports up 13.6 pct -ITS
> Malaysia keeps crude palm oil export tax at 4.5 pct for October
> U.S. soybeans fall on technicals, harvest
> COLUMN-Soymeal bears smell blood as prices near seasonal top
> Rains to soak Brazil's cane, coffee belts -forecaster Somar
> Brazilian soy farmers await rain to start planting
> Coffee sinks to multi-year lows on bearish charts
> Chinese importers sign deals to buy $2.8 billion of U.S. soybeans
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance will release Malaysia's Sept. 1-15 palm export data on Sept. 17 due to the Malaysia Day holiday weekend.
> Malaysia's government to set its crude palm oil export tax for October on Sept. 17. Key commodity markets at 2352 GMT
Contract Month Last Change Low High Volume
RINGGIT/USD 3.2375 -0.01 3.2415 3.241
CHINA PALM OLEIN JAN4 0 +0.00 0 0 0
CHINA SOYOIL JAN4 0 +0.00 0 0 0
CBOT SOYOIL DEC3 42.24 +0.00 0.00 0.00 0
NYMEX CRUDE OCT3 105.50 +0.08 105.50 105.74 937
CBOT soy oil in U.S. cents per pound
Dalian soy oil in Chinese yuan per tonne
Crude in U.S. dollars per barrel