MARKET DEVELOPMENT
Vegoils-Market Factors to Watch Nov 12
Vegoils-Market Factors to Watch Nov 12
12/11/2015 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Thursday November 12.
FUNDAMENTALS
* Malaysian palm oil futures fell on Wednesday on an unexpected rise in production and a slightly stronger ringgit, resuming its downtrend after a one-session rise.
* U.S. corn and soybean futures edged higher on Wednesday on consolidation and technical buying after hitting contract lows a day earlier due to bearish U.S. Department of Agriculture supply and demand forecasts.
* Oil prices fell about 3 percent on Wednesday, hitting August lows, on worries U.S. crude inventories were piling up and Iraq was bringing on more supply that would intensify OPEC's fight for market share.
MARKET NEWS
* Brent crude oil prices hit their lowest since late August on Wednesday on worries about growing U.S. stockpiles, while the U.S. dollar took a breather from recent gains.
RELATED
> Malaysia's Oct palm stocks rise above forecast to near 15-year high
> Malaysia's Nov 1 - 10 palm oil exports fall 5.3 pct -ITS
> El Nino may stir grain markets more than Black Sea drought
> Argentina ruling party presidential candidate would cut soy tax
> London cocoa rises to 2011 high, sugar turns lower after rally
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Nov 1-15 palm oil export data on November 15.
Palm, soy and crude oil prices at 0017 GMT
Contract Month Last Change Low High Volume
MY PALM OIL NOV5 0 +0.00 0 0 0
MY PALM OIL DEC5 0 +0.00 0 0 0
MY PALM OIL JAN6 0 +0.00 0 0 0
CHINA PALM OLEIN JAN6 4380 +24.00 4374 4406 413850
CHINA SOYOIL JAN6 5612 +36.00 5592 5634 313896
CBOT SOY OIL DEC5 28.50 +5.10 0.00 0.00 0
INDIA PALM OIL NOV5 405.50 +5.10 402.50 408.30 3073
INDIA SOYOIL NOV5 628.40 +1.25 625.80 630.50 34160
NYMEX CRUDE DEC5 46.46 +0.14 46.36 46.63 1090
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 fell on Wednesday on an unexpected rise in production and a slightly stronger ringgit, resuming its downtrend after a one-session rise.
* U.S. corn and soybean futures edged higher on Wednesday on consolidation and technical buying after hitting contract lows a day earlier due to bearish U.S. Department of Agriculture supply and demand forecasts.
* Oil prices fell about 3 percent on Wednesday, hitting August lows, on worries U.S. crude inventories were piling up and Iraq was bringing on more supply that would intensify OPEC's fight for market share.
MARKET NEWS
* Brent crude oil prices hit their lowest since late August on Wednesday on worries about growing U.S. stockpiles, while the U.S. dollar took a breather from recent gains.
RELATED
> Malaysia's Oct palm stocks rise above forecast to near 15-year high
> Malaysia's Nov 1 - 10 palm oil exports fall 5.3 pct -ITS
> El Nino may stir grain markets more than Black Sea drought
> Argentina ruling party presidential candidate would cut soy tax
> London cocoa rises to 2011 high, sugar turns lower after rally
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Nov 1-15 palm oil export data on November 15.
Palm, soy and crude oil prices at 0017 GMT
Contract Month Last Change Low High Volume
MY PALM OIL NOV5 0 +0.00 0 0 0
MY PALM OIL DEC5 0 +0.00 0 0 0
MY PALM OIL JAN6 0 +0.00 0 0 0
CHINA PALM OLEIN JAN6 4380 +24.00 4374 4406 413850
CHINA SOYOIL JAN6 5612 +36.00 5592 5634 313896
CBOT SOY OIL DEC5 28.50 +5.10 0.00 0.00 0
INDIA PALM OIL NOV5 405.50 +5.10 402.50 408.30 3073
INDIA SOYOIL NOV5 628.40 +1.25 625.80 630.50 34160
NYMEX CRUDE DEC5 46.46 +0.14 46.36 46.63 1090
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