MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Oct 20
VEGOILS-Market Factors to Watch Oct 20
20/10/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil strengthened on Wednesday evening, tracking stronger performing rival soyoil, after a market correction on weaker exports pulled it down in early trade.
* U.S. soybean futures rose on Wednesday on technical buying, export demand and spillover strength from crude oil, analysts said.
* Oil prices jumped more than 2 percent on Wednesday, with U.S. crude settling at its highest in 15 months after the government reported a surprisingly large drop in inventories for the sixth week out of seven.
MARKET NEWS
* Crude oil prices rose to a 15-month high on Wednesday after a surprise U.S. inventory drawdown, boosting energy shares.
RELATED
> India's drought-stricken farmers plant thirstiest crop
> SGS says not had talks with Egypt over wheat inspections
> Stronger-than-expected La Niña may be brewing -Braun
> Canada energy regulator could be curbed after pipeline fiasco
> Venezuela congressional probe says $11 bln missing at PDVSA
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 5836 +56.00 5806 5880 551672
CHINA SOYOIL JAN7 6686 +86.00 6654 6738 478326
CBOT SOY OIL DEC6 35.49 +12.30 35.41 35.49 751
INDIA PALM OIL OCT6 539.30 +12.30 526.00 539.3 2061
INDIA SOYOIL OCT6 658.8 +2.95 655 658.8 2150
NYMEX CRUDE NOV6 51.55 -0.05 51.34 51.55 424
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 strengthened on Wednesday evening, tracking stronger performing rival soyoil, after a market correction on weaker exports pulled it down in early trade.
* U.S. soybean futures rose on Wednesday on technical buying, export demand and spillover strength from crude oil, analysts said.
* Oil prices jumped more than 2 percent on Wednesday, with U.S. crude settling at its highest in 15 months after the government reported a surprisingly large drop in inventories for the sixth week out of seven.
MARKET NEWS
* Crude oil prices rose to a 15-month high on Wednesday after a surprise U.S. inventory drawdown, boosting energy shares.
RELATED
> India's drought-stricken farmers plant thirstiest crop
> SGS says not had talks with Egypt over wheat inspections
> Stronger-than-expected La Niña may be brewing -Braun
> Canada energy regulator could be curbed after pipeline fiasco
> Venezuela congressional probe says $11 bln missing at PDVSA
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 5836 +56.00 5806 5880 551672
CHINA SOYOIL JAN7 6686 +86.00 6654 6738 478326
CBOT SOY OIL DEC6 35.49 +12.30 35.41 35.49 751
INDIA PALM OIL OCT6 539.30 +12.30 526.00 539.3 2061
INDIA SOYOIL OCT6 658.8 +2.95 655 658.8 2150
NYMEX CRUDE NOV6 51.55 -0.05 51.34 51.55 424
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