MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Oct 13
VEGOILS-Market Factors to Watch Oct 13
13/10/2015 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures snapped a four-day losing streak on Monday, buoyed by a weaker ringgit and tracking competing vegetable oil markets in spite of government data showing local stockpiles at an all-time high.
* U.S. corn futures fell to a two-week low on Monday on expectations of strong harvest progress in the Midwest and inter-market spreading against soybeans, traders said.
* Oil prices tumbled on Monday, settling 5 percent lower as traders took profits after last week's surge to an 11-week high, and on a report that OPEC continued to boost crude production despite a persistent glut.
MARKET NEWS
* Crude oil futures tumbled on Monday on profit-taking and a report of higher OPEC production, while pressure lingered on the U.S. dollar as markets priced the possibility that the Federal Reserve would not begin a tightening cycle this year.
RELATED
> France cuts 2015 maize estimate, lifts wheat to new record
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Oct 1-15 palm oil export data on October 15.
> Cargo surveyor Societe Generale de Surveillance unveils October 1-15 palm oil exports in Malaysia on October 15.
Palm, soy and crude oil prices at 0023 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 4582 +14.00 4572 4610 313264
CHINA SOYOIL JAN6 5606 +24.00 5594 5632 214838
CBOT SOY OIL DEC5 28.16 +4.50 28.13 28.21 444
INDIA PALM OIL OCT5 423.50 +4.50 422.60 425.50 986
INDIA SOYOIL OCT5 626.30 +4.05 622.10 627.70 13840
NYMEX CRUDE NOV5 47.53 +0.43 47.45 47.72 2575
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 snapped a four-day losing streak on Monday, buoyed by a weaker ringgit and tracking competing vegetable oil markets in spite of government data showing local stockpiles at an all-time high.
* U.S. corn futures fell to a two-week low on Monday on expectations of strong harvest progress in the Midwest and inter-market spreading against soybeans, traders said.
* Oil prices tumbled on Monday, settling 5 percent lower as traders took profits after last week's surge to an 11-week high, and on a report that OPEC continued to boost crude production despite a persistent glut.
MARKET NEWS
* Crude oil futures tumbled on Monday on profit-taking and a report of higher OPEC production, while pressure lingered on the U.S. dollar as markets priced the possibility that the Federal Reserve would not begin a tightening cycle this year.
RELATED
> France cuts 2015 maize estimate, lifts wheat to new record
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Oct 1-15 palm oil export data on October 15.
> Cargo surveyor Societe Generale de Surveillance unveils October 1-15 palm oil exports in Malaysia on October 15.
Palm, soy and crude oil prices at 0023 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 4582 +14.00 4572 4610 313264
CHINA SOYOIL JAN6 5606 +24.00 5594 5632 214838
CBOT SOY OIL DEC5 28.16 +4.50 28.13 28.21 444
INDIA PALM OIL OCT5 423.50 +4.50 422.60 425.50 986
INDIA SOYOIL OCT5 626.30 +4.05 622.10 627.70 13840
NYMEX CRUDE NOV5 47.53 +0.43 47.45 47.72 2575
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