MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Sept 13
VEGOILS-Market Factors to Watch Sept 13
13/09/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures, recording a second week of gains, rose on Friday on firmer rival oilseed soy and on a weaker ringgit MYR=, while bullish forecasts ahead of the release of government data next week also supported the market.
* U.S. soybean futures tumbled after the U.S. Department of Agriculture increased its record-large domestic yield estimate more than expected on Monday, easing concerns that strong export sales could eat into inventories.
* Oil prices ended nearly 1 percent higher on Monday as a softer dollar and stronger U.S. equity markets helped crude futures rebound from an early drop pressured by worries about increased drilling activity for oil in the United States.
MARKET NEWS
* U.S. stocks led global shares higher on Monday after Federal Reserve policymakers sounded cautious notes on near-term interest rate increases, while the U.S. currency slipped.
RELATED
> Fertilizer majors Potash and Agrium to merge, face tough scrutiny
> U.S. soybean production gains outpace stellar demand growth
> Russian wheat prices down on weak global benchmarks, Egypt
> India to build buffer stock of 2 million tonnes of pulses
> China fuel exports cast fourth-quarter pall over global oil products
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Sept 1-15 palm oil export data on Sept 15.
> Cargo surveyor SGS releases Malaysia's Sept 1-15 palm oil export data on Sept 15.
Palm, soy and crude oil prices at 0020 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 5474 -56.00 5448 5482 331006
CHINA SOYOIL JAN7 6204 -68.00 6192 6226 201384
CBOT SOY OIL DEC6 32.64 -4.40 32.63 32.74 437
INDIA PALM OIL SEP6 566.60 -4.40 565.30 568.7 1075
INDIA SOYOIL SEP6 646.2 -4.45 644.5 648.2 9250
NYMEX CRUDE OCT6 46.07 -0.22 45.98 46.13 3504
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, recording a second week of gains, rose on Friday on firmer rival oilseed soy and on a weaker ringgit MYR=, while bullish forecasts ahead of the release of government data next week also supported the market.
* U.S. soybean futures tumbled after the U.S. Department of Agriculture increased its record-large domestic yield estimate more than expected on Monday, easing concerns that strong export sales could eat into inventories.
* Oil prices ended nearly 1 percent higher on Monday as a softer dollar and stronger U.S. equity markets helped crude futures rebound from an early drop pressured by worries about increased drilling activity for oil in the United States.
MARKET NEWS
* U.S. stocks led global shares higher on Monday after Federal Reserve policymakers sounded cautious notes on near-term interest rate increases, while the U.S. currency slipped.
RELATED
> Fertilizer majors Potash and Agrium to merge, face tough scrutiny
> U.S. soybean production gains outpace stellar demand growth
> Russian wheat prices down on weak global benchmarks, Egypt
> India to build buffer stock of 2 million tonnes of pulses
> China fuel exports cast fourth-quarter pall over global oil products
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Sept 1-15 palm oil export data on Sept 15.
> Cargo surveyor SGS releases Malaysia's Sept 1-15 palm oil export data on Sept 15.
Palm, soy and crude oil prices at 0020 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 5474 -56.00 5448 5482 331006
CHINA SOYOIL JAN7 6204 -68.00 6192 6226 201384
CBOT SOY OIL DEC6 32.64 -4.40 32.63 32.74 437
INDIA PALM OIL SEP6 566.60 -4.40 565.30 568.7 1075
INDIA SOYOIL SEP6 646.2 -4.45 644.5 648.2 9250
NYMEX CRUDE OCT6 46.07 -0.22 45.98 46.13 3504
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