MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Nov 24
VEGOILS-Market Factors to Watch Nov 24
24/11/2015 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures fell for a third session in a row on Monday, with buying interest dampened by high inventories and expectations of soft export demand.
* U.S. soybeans rebounded on Monday on technical buying and short covering after hitting a 6-1/2-year low following the weekend election in Argentina of a president who has promised to cut export taxes and boost production.
* Brent settled steady and U.S. crude slightly lower on Monday after prices were whipsawed by volatility as Saudi Arabia pledged to work toward oil price stability but traders worried about a global supply glut and signs of rising U.S. stockpiles.
MARKET NEWS
* The dollar rose to an eight-month high on Monday amid heightened expectations that the U.S. Federal Reserve might raise interest rates next month, driving down the prices of copper, gold and other metals.
RELATED
> Cheaper French wheat to sail to Indonesia
> Canpotex CEO sees potash terminal expansion decision late 2016
> Cocoa falls from 2011 high on profit-taking, sugar rallies
> Argentina in for a radical post-election grains output increase
> Uralkali approves delisting from LSE, launches market buyback
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Nov 1-25 palm oil export data on November 25. Cargo surveyor SGS release Malaysian palm oil export data for the first 25 days of the month on November 25.
Palm, soy and crude oil prices at 0045 GMT
Contract Month Last Change Low High Volume
MY PALM OIL DEC5 0 +0.00 0 0 0
MY PALM OIL JAN6 0 +0.00 0 0 0
MY PALM OIL FEB6 0 +0.00 0 0 0
CHINA PALM OLEIN JAN6 4100 +58.00 4072 4164 1059206
CHINA SOYOIL JAN6 5536 +110.00 5474 5552 285220
CBOT SOY OIL DEC5 27.90 -0.90 0.00 0.00 0
INDIA PALM OIL NOV5 383.40 -0.90 382.10 384.00 884
INDIA SOYOIL DEC5 610.90 +2.80 606.20 611.30 44785
NYMEX CRUDE JAN6 41.61 -0.29 41.43 41.66 4613
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 for a third session in a row on Monday, with buying interest dampened by high inventories and expectations of soft export demand.
* U.S. soybeans rebounded on Monday on technical buying and short covering after hitting a 6-1/2-year low following the weekend election in Argentina of a president who has promised to cut export taxes and boost production.
* Brent settled steady and U.S. crude slightly lower on Monday after prices were whipsawed by volatility as Saudi Arabia pledged to work toward oil price stability but traders worried about a global supply glut and signs of rising U.S. stockpiles.
MARKET NEWS
* The dollar rose to an eight-month high on Monday amid heightened expectations that the U.S. Federal Reserve might raise interest rates next month, driving down the prices of copper, gold and other metals.
RELATED
> Cheaper French wheat to sail to Indonesia
> Canpotex CEO sees potash terminal expansion decision late 2016
> Cocoa falls from 2011 high on profit-taking, sugar rallies
> Argentina in for a radical post-election grains output increase
> Uralkali approves delisting from LSE, launches market buyback
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Nov 1-25 palm oil export data on November 25. Cargo surveyor SGS release Malaysian palm oil export data for the first 25 days of the month on November 25.
Palm, soy and crude oil prices at 0045 GMT
Contract Month Last Change Low High Volume
MY PALM OIL DEC5 0 +0.00 0 0 0
MY PALM OIL JAN6 0 +0.00 0 0 0
MY PALM OIL FEB6 0 +0.00 0 0 0
CHINA PALM OLEIN JAN6 4100 +58.00 4072 4164 1059206
CHINA SOYOIL JAN6 5536 +110.00 5474 5552 285220
CBOT SOY OIL DEC5 27.90 -0.90 0.00 0.00 0
INDIA PALM OIL NOV5 383.40 -0.90 382.10 384.00 884
INDIA SOYOIL DEC5 610.90 +2.80 606.20 611.30 44785
NYMEX CRUDE JAN6 41.61 -0.29 41.43 41.66 4613
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