MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Oct 14
VEGOILS-Market Factors to Watch Oct 14
14/10/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures declined at Thursday's close as the market corrected following a two-day rally and higher output forecasts by industry analysts weighed on traders' sentiment.
* U.S. wheat futures jumped about 5 percent on Thursday as a flurry of export deals prompted funds to cover short positions, analysts said.
* Oil prices settled up on Thursday after a U.S. government report showing hefty draws in diesel and gasoline offset the first crude inventory build in six weeks.
MARKET NEWS
* Global equity markets slumped to a three-month low on Thursday after disappointing Chinese trade data renewed concerns about the world's second-largest economy, but rebounding oil prices and the dollar's market role led U.S. stocks to pare losses.
RELATED
> Global palm oil output to grow by 5.5 mln tonnes in 2016/17 - Mielke
> Indonesia palm output to rise in Q4 2016 after decline in previous quarter -Fry
> Malaysia, Indonesia 2017 palm output to surpass 2015 record -Mistry
> U.S. weather forecaster sees La Nina likely in the coming months
> Meat packers add plants to plate as consumers, competition shift
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 5426 -86.00 5386 5460 342252
CHINA SOYOIL JAN7 6270 -114.00 6238 6324 269998
CBOT SOY OIL DEC6 33.39 -2.50 33.39 33.49 409
INDIA PALM OIL OCT6 513.20 -2.50 510.30 516.5 1644
INDIA SOYOIL OCT6 648.35 -3.85 647.2 651.9 8330
NYMEX CRUDE NOV6 50.46 +0.02 50.45 50.80 12454
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 declined at Thursday's close as the market corrected following a two-day rally and higher output forecasts by industry analysts weighed on traders' sentiment.
* U.S. wheat futures jumped about 5 percent on Thursday as a flurry of export deals prompted funds to cover short positions, analysts said.
* Oil prices settled up on Thursday after a U.S. government report showing hefty draws in diesel and gasoline offset the first crude inventory build in six weeks.
MARKET NEWS
* Global equity markets slumped to a three-month low on Thursday after disappointing Chinese trade data renewed concerns about the world's second-largest economy, but rebounding oil prices and the dollar's market role led U.S. stocks to pare losses.
RELATED
> Global palm oil output to grow by 5.5 mln tonnes in 2016/17 - Mielke
> Indonesia palm output to rise in Q4 2016 after decline in previous quarter -Fry
> Malaysia, Indonesia 2017 palm output to surpass 2015 record -Mistry
> U.S. weather forecaster sees La Nina likely in the coming months
> Meat packers add plants to plate as consumers, competition shift
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 5426 -86.00 5386 5460 342252
CHINA SOYOIL JAN7 6270 -114.00 6238 6324 269998
CBOT SOY OIL DEC6 33.39 -2.50 33.39 33.49 409
INDIA PALM OIL OCT6 513.20 -2.50 510.30 516.5 1644
INDIA SOYOIL OCT6 648.35 -3.85 647.2 651.9 8330
NYMEX CRUDE NOV6 50.46 +0.02 50.45 50.80 12454
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