MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Sept 9
VEGOILS-Market Factors to Watch Sept 9
09/09/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures snapped two sessions of losses to gain on Thursday evening, lifted by better performing crude oil and rival oilseed soy.
* U.S. corn futures climbed more than 1 percent to a two-week high on Thursday as investors exited short positions ahead of the U.S. Department of Agriculture's monthly crop report due on Monday, when the government is expected to trim corn yields.
* Oil prices pulled back on profit-taking on Friday after settling more than 4 percent higher a day earlier after government data confirmed a surprisingly huge drawdown in U.S. crude inventories.
MARKET NEWS
* A gauge of global equity markets fell modestly and the euro strengthened on Thursday after the European Central Bank fell short of market hopes for a dovish tone regarding its bond-buying program.
RELATED
> Brazil's 2016-17 soybean crop seen at record 103.1 mln tns -survey
> China corn crop to fall 2.3 pct in 2016 - Grain Centre
> U.S. weather forecaster says La Nina no longer likely in fall, winter
> Brazil sees agriculture export growth after Asian meetings
> World food prices hit 15-month high in August - FAO
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 0059 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 5572 +30.00 5524 5578 530976
CHINA SOYOIL JAN7 6324 +42.00 6296 6346 262738
CBOT SOY OIL DEC6 33.36 +4.70 33.26 33.37 500
INDIA PALM OIL SEP6 572.50 +4.70 565.20 572.7 2258
INDIA SOYOIL SEP6 651.9 +7.20 642 652.8 28360
NYMEX CRUDE OCT6 47.21 -0.41 47.17 47.36 5284
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 snapped two sessions of losses to gain on Thursday evening, lifted by better performing crude oil and rival oilseed soy.
* U.S. corn futures climbed more than 1 percent to a two-week high on Thursday as investors exited short positions ahead of the U.S. Department of Agriculture's monthly crop report due on Monday, when the government is expected to trim corn yields.
* Oil prices pulled back on profit-taking on Friday after settling more than 4 percent higher a day earlier after government data confirmed a surprisingly huge drawdown in U.S. crude inventories.
MARKET NEWS
* A gauge of global equity markets fell modestly and the euro strengthened on Thursday after the European Central Bank fell short of market hopes for a dovish tone regarding its bond-buying program.
RELATED
> Brazil's 2016-17 soybean crop seen at record 103.1 mln tns -survey
> China corn crop to fall 2.3 pct in 2016 - Grain Centre
> U.S. weather forecaster says La Nina no longer likely in fall, winter
> Brazil sees agriculture export growth after Asian meetings
> World food prices hit 15-month high in August - FAO
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 0059 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 5572 +30.00 5524 5578 530976
CHINA SOYOIL JAN7 6324 +42.00 6296 6346 262738
CBOT SOY OIL DEC6 33.36 +4.70 33.26 33.37 500
INDIA PALM OIL SEP6 572.50 +4.70 565.20 572.7 2258
INDIA SOYOIL SEP6 651.9 +7.20 642 652.8 28360
NYMEX CRUDE OCT6 47.21 -0.41 47.17 47.36 5284
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