MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Sept 8
VEGOILS-Market Factors to Watch Sept 8
08/09/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures dropped for a second straight session on Wednesday as the market took profits following forecasts for a rise in production.
* U.S. corn, soybeans and wheat each rose 1 percent or more on Wednesday, lifted by short-covering linked to export demand prospects and expectations of bullish supply data due next week from the U.S. Department of Agriculture.
* Oil prices extended gains by more than 1.5 percent on Thursday after industry data showed what might be the largest weekly crude stock draw in over three decades.
MARKET NEWS
* Asian shares hovered near one-year peaks on Thursday as investors awaited Chinese trade data and a policy meeting by the European Central Bank, where it may announce an extension of its asset buying campaign.
RELATED
> Egypt's ergot saga deepens as wheat rejected in Romania
> Philippines to lift restrictions on rice imports by 2017
> U.S. advances oil reserve revamp plan, potential crude sale
> Scramble for tin as one player holds up to half LME stocks
> Volatile gold demand tarnishes U.S. commodity fund sales
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 0053 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 5514 -36.00 5512 5592 574892
CHINA SOYOIL JAN7 6248 -42.00 6246 6308 226630
CBOT SOY OIL DEC6 33.19 +3.30 33.14 33.22 579
INDIA PALM OIL SEP6 566.70 +3.30 561.40 574.9 2750
INDIA SOYOIL SEP6 644.4 -3.70 643 649.9 31200
NYMEX CRUDE OCT6 46.35 +0.85 46.05 46.42 12331
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 dropped for a second straight session on Wednesday as the market took profits following forecasts for a rise in production.
* U.S. corn, soybeans and wheat each rose 1 percent or more on Wednesday, lifted by short-covering linked to export demand prospects and expectations of bullish supply data due next week from the U.S. Department of Agriculture.
* Oil prices extended gains by more than 1.5 percent on Thursday after industry data showed what might be the largest weekly crude stock draw in over three decades.
MARKET NEWS
* Asian shares hovered near one-year peaks on Thursday as investors awaited Chinese trade data and a policy meeting by the European Central Bank, where it may announce an extension of its asset buying campaign.
RELATED
> Egypt's ergot saga deepens as wheat rejected in Romania
> Philippines to lift restrictions on rice imports by 2017
> U.S. advances oil reserve revamp plan, potential crude sale
> Scramble for tin as one player holds up to half LME stocks
> Volatile gold demand tarnishes U.S. commodity fund sales
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 0053 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 5514 -36.00 5512 5592 574892
CHINA SOYOIL JAN7 6248 -42.00 6246 6308 226630
CBOT SOY OIL DEC6 33.19 +3.30 33.14 33.22 579
INDIA PALM OIL SEP6 566.70 +3.30 561.40 574.9 2750
INDIA SOYOIL SEP6 644.4 -3.70 643 649.9 31200
NYMEX CRUDE OCT6 46.35 +0.85 46.05 46.42 12331
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