MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Oct 19
VEGOILS-Market Factors to Watch Oct 19
19/10/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil rose to its highest levels in two and a half years on Tuesday before dropping sharply in a market correction in the evening and on concerns about weak export demand.
* U.S. soybean futures fell for the first time in four sessions on Tuesday, pressured by a weak cash market and by profit-taking after hitting a 3-1/2-week high earlier in the session, traders said.
* Oil prices rose early on Wednesday, pushed up by a report of a fall in U.S. crude inventories and an OPEC statement saying a planned production cut was achievable, although analysts warned that Chinese economic data could erode the bullish momentum.
MARKET NEWS
* Asian shares inched ahead on Wednesday after Wall Street got a lift from encouraging corporate earnings and investors wagered a coming barrage of Chinese data would confirm the economy had at least stabilised.
RELATED
> OPEC sec-gen optimistic on reaching oil output deal in Nov
> EU rapeseed crops in mixed state after dry sowing weather
> Funds long on sugar curb trading houses' hedging appetite -Sucden
> Global dairy prices rise in overnight auction
> Indonesia palm output likely rose in Sept as harvest season starts
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 0034 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 5822 +2.00 5766 5822 422368
CHINA SOYOIL JAN7 6598 -8.00 6528 6602 286216
CBOT SOY OIL DEC6 35.2 -10.50 35.18 35.34 857
INDIA PALM OIL OCT6 527.50 -10.50 525.50 540.7 2641
INDIA SOYOIL OCT6 656 -2.05 655 659.7 4270
NYMEX CRUDE NOV6 50.82 +0.53 50.76 50.87 1910
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 rose to its highest levels in two and a half years on Tuesday before dropping sharply in a market correction in the evening and on concerns about weak export demand.
* U.S. soybean futures fell for the first time in four sessions on Tuesday, pressured by a weak cash market and by profit-taking after hitting a 3-1/2-week high earlier in the session, traders said.
* Oil prices rose early on Wednesday, pushed up by a report of a fall in U.S. crude inventories and an OPEC statement saying a planned production cut was achievable, although analysts warned that Chinese economic data could erode the bullish momentum.
MARKET NEWS
* Asian shares inched ahead on Wednesday after Wall Street got a lift from encouraging corporate earnings and investors wagered a coming barrage of Chinese data would confirm the economy had at least stabilised.
RELATED
> OPEC sec-gen optimistic on reaching oil output deal in Nov
> EU rapeseed crops in mixed state after dry sowing weather
> Funds long on sugar curb trading houses' hedging appetite -Sucden
> Global dairy prices rise in overnight auction
> Indonesia palm output likely rose in Sept as harvest season starts
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 0034 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 5822 +2.00 5766 5822 422368
CHINA SOYOIL JAN7 6598 -8.00 6528 6602 286216
CBOT SOY OIL DEC6 35.2 -10.50 35.18 35.34 857
INDIA PALM OIL OCT6 527.50 -10.50 525.50 540.7 2641
INDIA SOYOIL OCT6 656 -2.05 655 659.7 4270
NYMEX CRUDE NOV6 50.82 +0.53 50.76 50.87 1910
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