MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Sept 6
VEGOILS-Market Factors to Watch Sept 6
06/09/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures hit their highest in nearly three weeks on Monday, rising for a second session, as tight supplies and a firmer overseas palm olein market underpinned prices.
* Chicago corn and wheat futures prices rose for a second straight session on Friday with short-covering ahead of the U.S. Labor Day holiday weekend, clawing back from multi-year lows reached this week.
* Crude oil futures touched a one-week high before paring gains on Monday after top producers Russia and Saudi Arabia confirmed they had agreed to cooperate on stabilising the oil market, and raised hopes of limiting output in the future.
MARKET NEWS
* Asian shares edged up on Tuesday but were mostly in a holding pattern after Monday's U.S. holiday, as investors awaited a policy decision from the Reserve Bank of Australia.
RELATED
> Indonesia environment team threatened with death investigating haze
> European palm oil prices rise as supplies tighten
> China gives farmers subsidies to plant soybeans instead of corn
> Pakistani importers bought 66,000 T soybeans from U.S.
> Ivory Coast rains boost cocoa crop, disease fears linger
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Sept 1-10 palm oil export data on Sept 10.
> Cargo surveyor SGS releases Malaysia's Sept 1-10 palm oil export data on Sept 10.
Palm, soy and crude oil prices at 0042 GMT
Contract Month Last Change Low High Volume
MY PALM OIL SEP6 0 +0.00 0 0 0
MY PALM OIL OCT6 0 +0.00 0 0 0
MY PALM OIL NOV6 0 +0.00 0 0 0
CHINA PALM OLEIN JAN7 5604 +86.00 5554 5620 380734
CHINA SOYOIL JAN7 6316 +64.00 6258 6326 192258
CBOT SOY OIL DEC6 33.39 +5.60 33.13 33.46 2776
INDIA PALM OIL SEP6 564.90 +5.60 563.90 566.9 977
INDIA SOYOIL SEP6 654.5 +2.25 654 657.8 7950
NYMEX CRUDE OCT6 45.07 +0.63 44.06 46.53 385614
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 hit their highest in nearly three weeks on Monday, rising for a second session, as tight supplies and a firmer overseas palm olein market underpinned prices.
* Chicago corn and wheat futures prices rose for a second straight session on Friday with short-covering ahead of the U.S. Labor Day holiday weekend, clawing back from multi-year lows reached this week.
* Crude oil futures touched a one-week high before paring gains on Monday after top producers Russia and Saudi Arabia confirmed they had agreed to cooperate on stabilising the oil market, and raised hopes of limiting output in the future.
MARKET NEWS
* Asian shares edged up on Tuesday but were mostly in a holding pattern after Monday's U.S. holiday, as investors awaited a policy decision from the Reserve Bank of Australia.
RELATED
> Indonesia environment team threatened with death investigating haze
> European palm oil prices rise as supplies tighten
> China gives farmers subsidies to plant soybeans instead of corn
> Pakistani importers bought 66,000 T soybeans from U.S.
> Ivory Coast rains boost cocoa crop, disease fears linger
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Sept 1-10 palm oil export data on Sept 10.
> Cargo surveyor SGS releases Malaysia's Sept 1-10 palm oil export data on Sept 10.
Palm, soy and crude oil prices at 0042 GMT
Contract Month Last Change Low High Volume
MY PALM OIL SEP6 0 +0.00 0 0 0
MY PALM OIL OCT6 0 +0.00 0 0 0
MY PALM OIL NOV6 0 +0.00 0 0 0
CHINA PALM OLEIN JAN7 5604 +86.00 5554 5620 380734
CHINA SOYOIL JAN7 6316 +64.00 6258 6326 192258
CBOT SOY OIL DEC6 33.39 +5.60 33.13 33.46 2776
INDIA PALM OIL SEP6 564.90 +5.60 563.90 566.9 977
INDIA SOYOIL SEP6 654.5 +2.25 654 657.8 7950
NYMEX CRUDE OCT6 45.07 +0.63 44.06 46.53 385614
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