MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Sept 27
VEGOILS-Market Factors to Watch Sept 27
27/09/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures recovered on Monday to hit a five-month high after a cut in Indian import duty raised expectations there would be higher demand from the world's biggest edible oil importer.
* U.S. corn Cc1 and soybean Sc1 futures fell 1 percent or more on Monday, pressured by outlooks for drier weather conditions that should let farmers make headway in gathering record-large crops, traders said.
* Oil settled up 3 percent on Monday as the world's largest producers gathered in Algeria to discuss ways to support prices, with nervous trade driving volatility to its highest since a similar meeting to freeze output in April in Doha which failed.
MARKET NEWS
* Uncertainty gripped Asian markets on Tuesday as investors braced for a potentially pivotal U.S. presidential debate by shunning stocks while favouring safe haven bonds and the yen.
RELATED
> Three Mississippi River locks may close due to flood -Army Corps
> Treasury secretary says US will work on exchanging Argentine tax data
> Prices fall on good weather for bumper U.S. soybean harvest
> EU crop monitor cuts maize yield estimate due to hot, dry summer
> Brazil external gap shrinks to lowest in 9 years
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Sept 1-30 palm oil export data on Sept 30.
> Cargo surveyor SGS releases Malaysia's Sept 1-30 palm oil export data on Sept 30.
Palm, soy and crude oil prices at 0038 GMT
Contract Month Last Change Low High Volume
MY PALM OIL OCT6 0 +0.00 0 0 0
MY PALM OIL NOV6 0 +0.00 0 0 0
MY PALM OIL DEC6 0 +0.00 0 0 0
CHINA PALM OLEIN JAN7 5766 +4.00 5764 5812 328536
CHINA SOYOIL JAN7 6404 -6.00 6400 6460 209988
CBOT SOY OIL DEC6 33.45 -2.10 33.37 33.49 1735
INDIA PALM OIL SEP6 579.10 -2.10 576.50 583.6 2035
INDIA SOYOIL OCT6 661.65 +1.30 659.8 664.7 61480
NYMEX CRUDE NOV6 45.54 -0.39 45.48 45.74 4669
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 recovered on Monday to hit a five-month high after a cut in Indian import duty raised expectations there would be higher demand from the world's biggest edible oil importer.
* U.S. corn Cc1 and soybean Sc1 futures fell 1 percent or more on Monday, pressured by outlooks for drier weather conditions that should let farmers make headway in gathering record-large crops, traders said.
* Oil settled up 3 percent on Monday as the world's largest producers gathered in Algeria to discuss ways to support prices, with nervous trade driving volatility to its highest since a similar meeting to freeze output in April in Doha which failed.
MARKET NEWS
* Uncertainty gripped Asian markets on Tuesday as investors braced for a potentially pivotal U.S. presidential debate by shunning stocks while favouring safe haven bonds and the yen.
RELATED
> Three Mississippi River locks may close due to flood -Army Corps
> Treasury secretary says US will work on exchanging Argentine tax data
> Prices fall on good weather for bumper U.S. soybean harvest
> EU crop monitor cuts maize yield estimate due to hot, dry summer
> Brazil external gap shrinks to lowest in 9 years
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Sept 1-30 palm oil export data on Sept 30.
> Cargo surveyor SGS releases Malaysia's Sept 1-30 palm oil export data on Sept 30.
Palm, soy and crude oil prices at 0038 GMT
Contract Month Last Change Low High Volume
MY PALM OIL OCT6 0 +0.00 0 0 0
MY PALM OIL NOV6 0 +0.00 0 0 0
MY PALM OIL DEC6 0 +0.00 0 0 0
CHINA PALM OLEIN JAN7 5766 +4.00 5764 5812 328536
CHINA SOYOIL JAN7 6404 -6.00 6400 6460 209988
CBOT SOY OIL DEC6 33.45 -2.10 33.37 33.49 1735
INDIA PALM OIL SEP6 579.10 -2.10 576.50 583.6 2035
INDIA SOYOIL OCT6 661.65 +1.30 659.8 664.7 61480
NYMEX CRUDE NOV6 45.54 -0.39 45.48 45.74 4669
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