MARKET DEVELOPMENT
Vegoils: Market Factors to Watch Wednesday Sept 30
Vegoils: Market Factors to Watch Wednesday Sept 30
30/09/2015 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Wednesday September 30.
FUNDAMENTALS
* Malaysian palm oil futures surged for a sixth day in a row to new 15-month highs on Tuesday, bolstered by bullish analyst forecasts, a weakening ringgit and expectations recent dry weather and haze will curb crop output.
* Chicago soybean and corn futures rebounded on Tuesday as traders covered short positions on concerns that the U.S. Agriculture Department would reduce its estimate for last year's soybean crop.
* Crude oil futures fell in early Asian trade on Wednesday after U.S. inventories showed a weekly buildup that far exceeded analyst expectations.
MARKET NEWS
* Most Asian stock markets steadied on Wednesday after sliding to 3-year lows but a weak outlook for commodities and persistent concerns about China's economy discouraged most buyers.
RELATED
> Higher local prices dent India's soymeal exports - processor
> Malaysia's Felda Global says taking additional steps in Eagle High purchase
> Sime Darby Bhd says August production of fresh fruit bunches 938,297 mt
> Indonesia sends thousands to fight fires, makes no progress against hazardous "haze"
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's April 1-30 palm oil export data on September 30.
> Cargo surveyor Societe Generale de Surveillance unveils May 1-31 palm oil exports in Malaysia
on September 30.
Palm, soy and crude oil prices at 0037 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 4480 +38.00 4454 4496 395834
CHINA SOYOIL JAN6 5406 +18.00 5384 5420 166578
CBOT SOY OIL DEC5 27.76 +3.70 27.67 27.78 724
INDIA PALM OIL SEP5 425.90 +3.70 421.60 426.40 569
INDIA SOYOIL OCT5 605.75 +2.65 601.10 607.30 50405
NYMEX CRUDE NOV5 44.74 -0.49 44.68 44.94 2150
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 surged for a sixth day in a row to new 15-month highs on Tuesday, bolstered by bullish analyst forecasts, a weakening ringgit and expectations recent dry weather and haze will curb crop output.
* Chicago soybean and corn futures rebounded on Tuesday as traders covered short positions on concerns that the U.S. Agriculture Department would reduce its estimate for last year's soybean crop.
* Crude oil futures fell in early Asian trade on Wednesday after U.S. inventories showed a weekly buildup that far exceeded analyst expectations.
MARKET NEWS
* Most Asian stock markets steadied on Wednesday after sliding to 3-year lows but a weak outlook for commodities and persistent concerns about China's economy discouraged most buyers.
RELATED
> Higher local prices dent India's soymeal exports - processor
> Malaysia's Felda Global says taking additional steps in Eagle High purchase
> Sime Darby Bhd says August production of fresh fruit bunches 938,297 mt
> Indonesia sends thousands to fight fires, makes no progress against hazardous "haze"
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's April 1-30 palm oil export data on September 30.
> Cargo surveyor Societe Generale de Surveillance unveils May 1-31 palm oil exports in Malaysia
on September 30.
Palm, soy and crude oil prices at 0037 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 4480 +38.00 4454 4496 395834
CHINA SOYOIL JAN6 5406 +18.00 5384 5420 166578
CBOT SOY OIL DEC5 27.76 +3.70 27.67 27.78 724
INDIA PALM OIL SEP5 425.90 +3.70 421.60 426.40 569
INDIA SOYOIL OCT5 605.75 +2.65 601.10 607.30 50405
NYMEX CRUDE NOV5 44.74 -0.49 44.68 44.94 2150
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