MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Oct 13
VEGOILS-Market Factors to Watch Oct 13
13/10/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures rose to their highest in two weeks on Wednesday, buoyed by a weaker ringgit and expectations of a drop in production.
* Chicago Board of Trade corn futures fell more than 2 percent on Wednesday, the most in a month, while soybean and wheat futures also declined on expectations for record-large U.S. harvests and huge grain inventories.
* Oil prices fell on Wednesday after OPEC reported another monthly hike in output and extended losses in post-settlement trade as industry data suggested the first U.S. crude inventory build in six weeks.
MARKET NEWS
* Asian stocks held near three-week lows and the greenback consolidated recent gains on Thursday after minutes of the last U.S. Federal Reserve policy meeting indicated a December rate increase was still on the cards.
RELATED
> UPDATE 1-USDA raises already-record soybean crop forecast
> Louis Dreyfus to explore stake sale in metals unit in H2 2017
> Biodiesel executives to plead in $64 million biofuels fraud scheme
> Malaysian palm oil output seen dropping by 5-7.5 pct in 2016 -IOI Group
> OPEC points to larger 2017 oil surplus despite deal to cut
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Oct 1-10 palm oil export data on Oct 15
> Cargo surveyor SGS releases Malaysia's Oct 1-10 palm oil export data on Oct 15.
Palm, soy and crude oil prices at 0035 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 5504 -10.00 5498 5578 392274
CHINA SOYOIL JAN7 6380 -30.00 6376 6426 228182
CBOT SOY OIL DEC6 33.39 -2.00 33.37 33.48 704
INDIA PALM OIL OCT6 516.50 -2.00 514.70 522.7 587
INDIA SOYOIL OCT6 652 -1.55 651.7 653.5 860
NYMEX CRUDE NOV6 49.81 -0.37 49.76 50.05 6973
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 rose to their highest in two weeks on Wednesday, buoyed by a weaker ringgit and expectations of a drop in production.
* Chicago Board of Trade corn futures fell more than 2 percent on Wednesday, the most in a month, while soybean and wheat futures also declined on expectations for record-large U.S. harvests and huge grain inventories.
* Oil prices fell on Wednesday after OPEC reported another monthly hike in output and extended losses in post-settlement trade as industry data suggested the first U.S. crude inventory build in six weeks.
MARKET NEWS
* Asian stocks held near three-week lows and the greenback consolidated recent gains on Thursday after minutes of the last U.S. Federal Reserve policy meeting indicated a December rate increase was still on the cards.
RELATED
> UPDATE 1-USDA raises already-record soybean crop forecast
> Louis Dreyfus to explore stake sale in metals unit in H2 2017
> Biodiesel executives to plead in $64 million biofuels fraud scheme
> Malaysian palm oil output seen dropping by 5-7.5 pct in 2016 -IOI Group
> OPEC points to larger 2017 oil surplus despite deal to cut
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Oct 1-10 palm oil export data on Oct 15
> Cargo surveyor SGS releases Malaysia's Oct 1-10 palm oil export data on Oct 15.
Palm, soy and crude oil prices at 0035 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 5504 -10.00 5498 5578 392274
CHINA SOYOIL JAN7 6380 -30.00 6376 6426 228182
CBOT SOY OIL DEC6 33.39 -2.00 33.37 33.48 704
INDIA PALM OIL OCT6 516.50 -2.00 514.70 522.7 587
INDIA SOYOIL OCT6 652 -1.55 651.7 653.5 860
NYMEX CRUDE NOV6 49.81 -0.37 49.76 50.05 6973
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