MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Oct 7
VEGOILS-Market Factors to Watch Oct 7
07/10/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures reversed losses to chart their strongest daily gains in nearly two weeks on Thursday evening, as a weaker ringgit MYR= supported prices.
* U.S. soybeans rose for a second session on Friday, with the oilseed set to finish the week in positive territory for the first time in a month as strong demand for U.S. supplies offset pressure from ample global stocks.
* Oil rose more than 1 percent to four-month highs on Thursday, spurred by another informal OPEC meeting on output cuts and plunging U.S. crude inventories, with some saying the market has overshot itself with a near 15-percent gain in seven sessions.
MARKET NEWS
* Sterling plunged to a three-decade low in thin early Asian trade on Friday as a break of key technical support levels triggered a wave of stop-loss orders.
RELATED
> Raw sugar tumbles from 4-year peak on chart selling
> World food prices rise to highest in 18 months in September
> Australia boosts iron ore, coal price forecasts on China demand
> Agrium, Potash to hold shareholder votes on merger next month
> UK gives go-ahead to second-ever shale gas permit
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Oct 1-10 palm oil export data on Oct 10
> Cargo surveyor SGS releases Malaysia's Oct 1-10 palm oil export data on Oct 10.
Palm, soy and crude oil prices at 0122 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 0 +0.00 0 0 0
CHINA SOYOIL JAN7 0 +0.00 0 0 0
CBOT SOY OIL DEC6 33.43 +9.10 33.29 33.47 1066
INDIA PALM OIL OCT6 517.70 +9.10 504.70 517.7 3222
INDIA SOYOIL OCT6 657 +3.85 650.1 658.2 27560
NYMEX CRUDE NOV6 50.47 +0.03 50.44 50.61 6870
Vegetable oils --
Malaysian palm oil exports --
CBOT soyoil futures -- <0#BO:>
CBOT soybean futures -- <0#S:>
Indian solvent --
Weekly Indian vegetable oils --
Dalian Commodity Exchange --
Dalian soyoil futures -- <0#DBY:>
Dalian refined palm oil futures -- <0#DCP:>
Zhengzhou rapeseed oil -- <0#COI:>
European edible oil prices/trades --
FUNDAMENTALS
* Malaysian palm oil futures reversed losses to chart their strongest daily gains in nearly two weeks on Thursday evening, as a weaker ringgit MYR= supported prices.
* U.S. soybeans rose for a second session on Friday, with the oilseed set to finish the week in positive territory for the first time in a month as strong demand for U.S. supplies offset pressure from ample global stocks.
* Oil rose more than 1 percent to four-month highs on Thursday, spurred by another informal OPEC meeting on output cuts and plunging U.S. crude inventories, with some saying the market has overshot itself with a near 15-percent gain in seven sessions.
MARKET NEWS
* Sterling plunged to a three-decade low in thin early Asian trade on Friday as a break of key technical support levels triggered a wave of stop-loss orders.
RELATED
> Raw sugar tumbles from 4-year peak on chart selling
> World food prices rise to highest in 18 months in September
> Australia boosts iron ore, coal price forecasts on China demand
> Agrium, Potash to hold shareholder votes on merger next month
> UK gives go-ahead to second-ever shale gas permit
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Oct 1-10 palm oil export data on Oct 10
> Cargo surveyor SGS releases Malaysia's Oct 1-10 palm oil export data on Oct 10.
Palm, soy and crude oil prices at 0122 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 0 +0.00 0 0 0
CHINA SOYOIL JAN7 0 +0.00 0 0 0
CBOT SOY OIL DEC6 33.43 +9.10 33.29 33.47 1066
INDIA PALM OIL OCT6 517.70 +9.10 504.70 517.7 3222
INDIA SOYOIL OCT6 657 +3.85 650.1 658.2 27560
NYMEX CRUDE NOV6 50.47 +0.03 50.44 50.61 6870
Vegetable oils --
Malaysian palm oil exports --
CBOT soyoil futures -- <0#BO:>
CBOT soybean futures -- <0#S:>
Indian solvent --
Weekly Indian vegetable oils --
Dalian Commodity Exchange --
Dalian soyoil futures -- <0#DBY:>
Dalian refined palm oil futures -- <0#DCP:>
Zhengzhou rapeseed oil -- <0#COI:>
European edible oil prices/trades --