MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Oct 17
VEGOILS-Market Factors to Watch Oct 17
17/10/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures rose on Friday evening, helped by a weaker ringgit earlier in the day and expectations of a decline in production.
* U.S. soybean futures rose on Friday, led by a surge in soyoil tied to firm domestic cash values and rising global vegetable oil prices, traders said.
* Oil prices fell slightly on Friday as traders balanced a stronger dollar and another increase in the U.S. oil rig count against expectations that more OPEC talk of output cuts will keep crude above $50 per barrel.
MARKET NEWS
* Global stocks and the dollar rebounded on Friday, buoyed at first by U.S. and Chinese data, but Federal Reserve Chair Janet Yellen later rattled investors when she said aggressive steps may be needed to address an economy whose potential is slipping.
RELATED
> China's risk clamp down hits commodity trades, niche broker business
> India and Russia sign energy, defence deals worth billions
> China buyers sign deals for 5.1 mln tonnes U.S. soybeans
> ChemChina, Sinochem in talks on possible $100 bln merger -sources
> Canada energy companies, police scramble to protect pipelines
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Oct 1-20 palm oil export data on Oct 20
> Cargo surveyor SGS releases Malaysia's Oct 1-20 palm oil export data on Oct 20.
Palm, soy and crude oil prices at 0029 GMT
Contract Month Last Change Low High Volume
MY PALM OIL NOV6 0 +0.00 0 0 0
MY PALM OIL DEC6 0 +0.00 0 0 0
MY PALM OIL JAN7 0 +0.00 0 0 0
CHINA PALM OLEIN JAN7 5722 +272.00 5518 5722 750392
CHINA SOYOIL JAN7 6556 +250.00 6376 6616 776424
CBOT SOY OIL DEC6 34.87 +19.90 34.44 34.89 2618
INDIA PALM OIL OCT6 533.00 +19.90 515.30 533.6 3505
INDIA SOYOIL OCT6 655.65 +7.50 647.1 657 14080
NYMEX CRUDE NOV6 50.04 -0.31 49.99 50.26 4947
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 on Friday evening, helped by a weaker ringgit earlier in the day and expectations of a decline in production.
* U.S. soybean futures rose on Friday, led by a surge in soyoil tied to firm domestic cash values and rising global vegetable oil prices, traders said.
* Oil prices fell slightly on Friday as traders balanced a stronger dollar and another increase in the U.S. oil rig count against expectations that more OPEC talk of output cuts will keep crude above $50 per barrel.
MARKET NEWS
* Global stocks and the dollar rebounded on Friday, buoyed at first by U.S. and Chinese data, but Federal Reserve Chair Janet Yellen later rattled investors when she said aggressive steps may be needed to address an economy whose potential is slipping.
RELATED
> China's risk clamp down hits commodity trades, niche broker business
> India and Russia sign energy, defence deals worth billions
> China buyers sign deals for 5.1 mln tonnes U.S. soybeans
> ChemChina, Sinochem in talks on possible $100 bln merger -sources
> Canada energy companies, police scramble to protect pipelines
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Oct 1-20 palm oil export data on Oct 20
> Cargo surveyor SGS releases Malaysia's Oct 1-20 palm oil export data on Oct 20.
Palm, soy and crude oil prices at 0029 GMT
Contract Month Last Change Low High Volume
MY PALM OIL NOV6 0 +0.00 0 0 0
MY PALM OIL DEC6 0 +0.00 0 0 0
MY PALM OIL JAN7 0 +0.00 0 0 0
CHINA PALM OLEIN JAN7 5722 +272.00 5518 5722 750392
CHINA SOYOIL JAN7 6556 +250.00 6376 6616 776424
CBOT SOY OIL DEC6 34.87 +19.90 34.44 34.89 2618
INDIA PALM OIL OCT6 533.00 +19.90 515.30 533.6 3505
INDIA SOYOIL OCT6 655.65 +7.50 647.1 657 14080
NYMEX CRUDE NOV6 50.04 -0.31 49.99 50.26 4947
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