MARKET DEVELOPMENT
Vegoils-Market Factors to Watch Friday Oct 23
Vegoils-Market Factors to Watch Friday Oct 23
23/10/2015 (The Star) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Friday October 23
FUNDAMENTALS
* Malaysian palm oil futures rose to a fresh two-week peak on Thursday, supported by a softer ringgit and expectations seasonally lower supply may be tighter due to the El Nino dry weather pattern.
* U.S. corn and soybean futures turned lower on Thursday, reversing from one-week highs on technical selling and pressured by steep gains in the dollar that made U.S. commodities less attractive in export markets.
* Crude oil inched higher on Thursday as gains prompted by a rally in gasoline and technical
charts calling for higher prices were capped by worries about high U.S. crude inventories.
MARKET NEWS
* Stocks rose in the United States and Europe and the dollar hit a three-week high against the euro after European Central Bank President Mario Draghi said further rate cuts were being considered to stimulate the euro zone economy.
RELATED
> Indonesia 2015 white sugar imports to reach 100,000 T
> Ethiopia stirs wheat market with million tonne tender - traders
> China, India seeking potash discounts -ICL chief
> China expected to buy less corn for stockpiles
> Russia's November grain exports seen at more than 3 mln tonnes
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Oct 1-30 palm oil export data on October 30.
> Cargo surveyor Societe Generale de Surveillance unveils October 1-25 palm oil exports in Malaysia on October 25.
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 rose to a fresh two-week peak on Thursday, supported by a softer ringgit and expectations seasonally lower supply may be tighter due to the El Nino dry weather pattern.
* U.S. corn and soybean futures turned lower on Thursday, reversing from one-week highs on technical selling and pressured by steep gains in the dollar that made U.S. commodities less attractive in export markets.
* Crude oil inched higher on Thursday as gains prompted by a rally in gasoline and technical
charts calling for higher prices were capped by worries about high U.S. crude inventories.
MARKET NEWS
* Stocks rose in the United States and Europe and the dollar hit a three-week high against the euro after European Central Bank President Mario Draghi said further rate cuts were being considered to stimulate the euro zone economy.
RELATED
> Indonesia 2015 white sugar imports to reach 100,000 T
> Ethiopia stirs wheat market with million tonne tender - traders
> China, India seeking potash discounts -ICL chief
> China expected to buy less corn for stockpiles
> Russia's November grain exports seen at more than 3 mln tonnes
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Oct 1-30 palm oil export data on October 30.
> Cargo surveyor Societe Generale de Surveillance unveils October 1-25 palm oil exports in Malaysia on October 25.
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