MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Nov 19
VEGOILS-Market Factors to Watch Nov 19
19/11/2015 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures made their biggest single-day climb in over a week after sinking to a three-week low earlier on Wednesday, as weak demand generally kept prices under pressure.
* U.S. soybean futures fell on Wednesday in a technical setback following two days of modest gains, traders said. Wheat futures also weakened as a bleak fundamental picture, highlighted by plentiful global stocks, cast a bearish tone across the agriculture sector.
* Oil fell to near three-month lows and U.S. crude futures slipped to below $40 a barrel before settling higher on Wednesday as short-covering lifted a market initially suppressed by worries about a global supply glut.
MARKET NEWS
* U.S. stocks gained steam and the dollar touched a fresh seven-month high on Wednesday after minutes from the most recent Federal Reserve policy meeting showed a core of officials backed a possible interest rate hike in December.
RELATED
> Palm oil seen at 2,300-2,400 rgt in Q1, El Nino impact limited
> Indian miller sees big sugar export opportunities in Asia
> Canada reviewing TPP agriculture compensation agreed for farmers
> Egypt's new wheat subsidy could cut future wheat harvests
> Australia blocks sale of largest farm owner to foreign investors
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Nov 1-20 palm oil export data on November 20. Cargo surveyor SGS release Malaysian palm oil export data for the first 20 days of the month on November 20.
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 made their biggest single-day climb in over a week after sinking to a three-week low earlier on Wednesday, as weak demand generally kept prices under pressure.
* U.S. soybean futures fell on Wednesday in a technical setback following two days of modest gains, traders said. Wheat futures also weakened as a bleak fundamental picture, highlighted by plentiful global stocks, cast a bearish tone across the agriculture sector.
* Oil fell to near three-month lows and U.S. crude futures slipped to below $40 a barrel before settling higher on Wednesday as short-covering lifted a market initially suppressed by worries about a global supply glut.
MARKET NEWS
* U.S. stocks gained steam and the dollar touched a fresh seven-month high on Wednesday after minutes from the most recent Federal Reserve policy meeting showed a core of officials backed a possible interest rate hike in December.
RELATED
> Palm oil seen at 2,300-2,400 rgt in Q1, El Nino impact limited
> Indian miller sees big sugar export opportunities in Asia
> Canada reviewing TPP agriculture compensation agreed for farmers
> Egypt's new wheat subsidy could cut future wheat harvests
> Australia blocks sale of largest farm owner to foreign investors
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Nov 1-20 palm oil export data on November 20. Cargo surveyor SGS release Malaysian palm oil export data for the first 20 days of the month on November 20.
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