MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Oct 15
VEGOILS-Market Factors to Watch Oct 15
15/10/2015 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures saw a sharp rise in late trade on Tuesday, due to traders short covering and speculation of buying from China.
* U.S. soft red wheat futures fell 2 percent on Wednesday on profit-taking coupled with forecasts for beneficial rains next week in parts of the southern Plains and the Black Sea region, analysts said.
* Oil closed down on Wednesday and extended losses in post-settlement trade as worries about a growing supply glut kept crude under pressure this week, offsettting recent views that declining U.S. production would buoy prices.
MARKET NEWS
* Global equity markets slid for a second day and the dollar sank to a seven-week low on Wednesday as weak U.S. retail sales and a drop in producer prices boosted expectations the Federal Reserve will not raise interest rates until next year.
RELATED
> New palm oil council will drop "no deforestation" pledge-Indonesia
> Stronger sugar shines in commodities as speculators stay positive
> Asia's hunger for bread and pastries boosts wheat demand
> Drought threatens Brazil coffee crop for third straight year
> Saudi Arabia says to import 3.5 mln tonnes wheat in 2016
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 saw a sharp rise in late trade on Tuesday, due to traders short covering and speculation of buying from China.
* U.S. soft red wheat futures fell 2 percent on Wednesday on profit-taking coupled with forecasts for beneficial rains next week in parts of the southern Plains and the Black Sea region, analysts said.
* Oil closed down on Wednesday and extended losses in post-settlement trade as worries about a growing supply glut kept crude under pressure this week, offsettting recent views that declining U.S. production would buoy prices.
MARKET NEWS
* Global equity markets slid for a second day and the dollar sank to a seven-week low on Wednesday as weak U.S. retail sales and a drop in producer prices boosted expectations the Federal Reserve will not raise interest rates until next year.
RELATED
> New palm oil council will drop "no deforestation" pledge-Indonesia
> Stronger sugar shines in commodities as speculators stay positive
> Asia's hunger for bread and pastries boosts wheat demand
> Drought threatens Brazil coffee crop for third straight year
> Saudi Arabia says to import 3.5 mln tonnes wheat in 2016
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