MARKET DEVELOPMENT
VEGOILS-Market Factors To Watch Nov 11
VEGOILS-Market Factors To Watch Nov 11
11/11/2015 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures rose on Monday, marking their first gain in three sessions on the back of a weaker ringgit MYR=. The January benchmark palm oil contract 1FCPOc3 on the Bursa Malaysia Derivatives Exchange had risen 2.7 percent to 2,384 ringgit ($545.85) a tonne at the end of the trading day.
* U.S. corn and soybean futures fell to contract lows on Tuesday after the U.S. Department of Agriculture raised its 2015 harvest forecasts by more than expected and increased estimates for end-of-season stocks.
* U.S. crude oil prices fell in early Asian trading on Wednesday after industry data showed an increase in U.S. stockpiles, while fears that Japan's economy may have fallen into recession added to demand woes.
MARKET NEWS
* The U.S. dollar index touched its highest since April on Tuesday on growing expectations the Federal Reserve will raise interest rates next month, while U.S. stocks ended up after a late-session bounce.
RELATED
> El Nino, drought damage robusta output, could drive up prices
> Brazil sugar price discounts narrow as commercial buyers wade in
> South Korea cheese imports soar as trade deals open door
> Canada farm minister favors TPP deal, poised for fight with U.S.
> Britain eyes China's craft breweries with $150 mln barley deal
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 rose on Monday, marking their first gain in three sessions on the back of a weaker ringgit MYR=. The January benchmark palm oil contract 1FCPOc3 on the Bursa Malaysia Derivatives Exchange had risen 2.7 percent to 2,384 ringgit ($545.85) a tonne at the end of the trading day.
* U.S. corn and soybean futures fell to contract lows on Tuesday after the U.S. Department of Agriculture raised its 2015 harvest forecasts by more than expected and increased estimates for end-of-season stocks.
* U.S. crude oil prices fell in early Asian trading on Wednesday after industry data showed an increase in U.S. stockpiles, while fears that Japan's economy may have fallen into recession added to demand woes.
MARKET NEWS
* The U.S. dollar index touched its highest since April on Tuesday on growing expectations the Federal Reserve will raise interest rates next month, while U.S. stocks ended up after a late-session bounce.
RELATED
> El Nino, drought damage robusta output, could drive up prices
> Brazil sugar price discounts narrow as commercial buyers wade in
> South Korea cheese imports soar as trade deals open door
> Canada farm minister favors TPP deal, poised for fight with U.S.
> Britain eyes China's craft breweries with $150 mln barley deal
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