MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Sept 21
VEGOILS-Market Factors to Watch Sept 21
21/09/2015 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures dropped on Friday as news of India's import tax hike on crude and refined vegetable oils dampened market sentiment.
* U.S. soybean futures fell on Friday and were down about 0.8 percent for the week as farmers prepared to harvest a bumper crop in the Midwest, traders said.
* Oil prices tumbled on Friday, with U.S. crude falling 5 percent, after a selloff in Wall Street equities offset the positive impact of a third weekly decline in the U.S. oil rig count.
MARKET NEWS
* Stocks on major markets slipped on Friday and bond prices rose, pushing yields sharply lower, after the U.S. Federal Reserve on Thursday clung to its near-zero interest rate policy with global economic growth slowing.
RELATED
> Louis Dreyfus ends long CEO hunt with internal pick
> Brazil's 2015/16 soy crop seen at over 100 mln tonnes -Safras
> Price decline could curb EU wheat and rapeseed plantings
> India veg oil duty hike too little to check imports
> Ukraine sees 2015 maize crop falling by around 20 pct
> Russia may stop grain market interventions if harvest at 120-130 mln T per year - RIA
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's September 1-20 palm oil exports on September 21.
Palm, soy and crude oil prices at 0020 GMT
Contract Month Last Change Low High Volume
MY PALM OIL OCT5 0 +0.00 0 0 0
MY PALM OIL NOV5 0 +0.00 0 0 0
MY PALM OIL DEC5 0 +0.00 0 0 0
CHINA PALM OLEIN JAN6 4230 -44.00 4216 4248 298794
CHINA SOYOIL JAN6 5358 -32.00 5336 5366 155314
CBOT SOY OIL DEC5 26.24 -2.40 26.18 26.25 429
INDIA PALM OIL SEP5 389.40 -2.40 387.20 401.00 2892
INDIA SOYOIL OCT5 571.50 +3.80 565.40 578.20 87520
NYMEX CRUDE OCT5 44.91 +0.23 44.69 45.02 807
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 dropped on Friday as news of India's import tax hike on crude and refined vegetable oils dampened market sentiment.
* U.S. soybean futures fell on Friday and were down about 0.8 percent for the week as farmers prepared to harvest a bumper crop in the Midwest, traders said.
* Oil prices tumbled on Friday, with U.S. crude falling 5 percent, after a selloff in Wall Street equities offset the positive impact of a third weekly decline in the U.S. oil rig count.
MARKET NEWS
* Stocks on major markets slipped on Friday and bond prices rose, pushing yields sharply lower, after the U.S. Federal Reserve on Thursday clung to its near-zero interest rate policy with global economic growth slowing.
RELATED
> Louis Dreyfus ends long CEO hunt with internal pick
> Brazil's 2015/16 soy crop seen at over 100 mln tonnes -Safras
> Price decline could curb EU wheat and rapeseed plantings
> India veg oil duty hike too little to check imports
> Ukraine sees 2015 maize crop falling by around 20 pct
> Russia may stop grain market interventions if harvest at 120-130 mln T per year - RIA
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's September 1-20 palm oil exports on September 21.
Palm, soy and crude oil prices at 0020 GMT
Contract Month Last Change Low High Volume
MY PALM OIL OCT5 0 +0.00 0 0 0
MY PALM OIL NOV5 0 +0.00 0 0 0
MY PALM OIL DEC5 0 +0.00 0 0 0
CHINA PALM OLEIN JAN6 4230 -44.00 4216 4248 298794
CHINA SOYOIL JAN6 5358 -32.00 5336 5366 155314
CBOT SOY OIL DEC5 26.24 -2.40 26.18 26.25 429
INDIA PALM OIL SEP5 389.40 -2.40 387.20 401.00 2892
INDIA SOYOIL OCT5 571.50 +3.80 565.40 578.20 87520
NYMEX CRUDE OCT5 44.91 +0.23 44.69 45.02 807
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