MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Sept 7
VEGOILS-Market Factors to Watch Sept 7
07/09/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures reversed earlier gains on Tuesday evening, falling from a near three-week top on estimates of rising production and a market correction.
* U.S. soybean futures rose on Tuesday on reminders of fresh export demand, extending a modest rebound from multi-month lows set last week.
* Oil prices inched lower on Wednesday as market participants remained sceptical that producers will reach an agreement to freeze output to rein in a global supply glut.
MARKET NEWS
* The dollar slumped on Tuesday after data on the U.S. services sector fell well short of expectations, while a gauge of global equity markets held near a one-year high.
RELATED
> U.S. corn, soybean condition ratings likely to decline
> Egypt's FIHC buys 15,000 tonnes soyoil, no sunflower oil purchased
> Indian output of pulses to hit record high, drag on prices
> Canadian wheat stocks seen smallest ever, canola pile shrinks
> Argentina biodiesel exports surge as sales to U.S. grow
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 0047 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 5566 -16.00 5534 5576 361348
CHINA SOYOIL JAN7 6292 -14.00 6280 6318 189280
CBOT SOY OIL DEC6 33.23 -1.00 33.11 33.23 746
INDIA PALM OIL SEP6 563.70 -1.00 562.30 570 2607
INDIA SOYOIL SEP6 648 -6.90 647.2 656 25170
NYMEX CRUDE OCT6 44.69 -0.14 44.68 44.94 5077
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 reversed earlier gains on Tuesday evening, falling from a near three-week top on estimates of rising production and a market correction.
* U.S. soybean futures rose on Tuesday on reminders of fresh export demand, extending a modest rebound from multi-month lows set last week.
* Oil prices inched lower on Wednesday as market participants remained sceptical that producers will reach an agreement to freeze output to rein in a global supply glut.
MARKET NEWS
* The dollar slumped on Tuesday after data on the U.S. services sector fell well short of expectations, while a gauge of global equity markets held near a one-year high.
RELATED
> U.S. corn, soybean condition ratings likely to decline
> Egypt's FIHC buys 15,000 tonnes soyoil, no sunflower oil purchased
> Indian output of pulses to hit record high, drag on prices
> Canadian wheat stocks seen smallest ever, canola pile shrinks
> Argentina biodiesel exports surge as sales to U.S. grow
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 0047 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 5566 -16.00 5534 5576 361348
CHINA SOYOIL JAN7 6292 -14.00 6280 6318 189280
CBOT SOY OIL DEC6 33.23 -1.00 33.11 33.23 746
INDIA PALM OIL SEP6 563.70 -1.00 562.30 570 2607
INDIA SOYOIL SEP6 648 -6.90 647.2 656 25170
NYMEX CRUDE OCT6 44.69 -0.14 44.68 44.94 5077
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