MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Oct 28
VEGOILS-Market Factors to Watch Oct 28
28/10/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and othervegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures dipped on Thursday as selling in the Chinese markets and concerns over weak exports outweighed benefits from a weaker ringgit.
* U.S. soybean futures were narrowly higher on Thursday, reaching two-month peaks as they extended gains on the back of big export sales to China and as soymeal futures surged 2 percent.
* Oil prices dipped early on Friday, weighed down by lingering doubts over whether OPEC can coordinate a crude production cut big enough to rein in oversupply that has dogged markets for two years.
MARKET NEWS
* Strong growth data out of Britain prompted the biggest daily sell-off in government debt for months and pushed yields on the world's benchmark bonds higher on Thursday, as expectations eased for a Bank of England interest rate cut.
RELATED
> French parliament rejects new palm oil tax proposal
> Exporters sell U.S. soybeans to unknown destinations- USDA
> IGC raises forecasts for 2016/17 global corn, wheat crops
> COLUMN-Is demand for U.S. soybeans as healthy as it seems?
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Oct palm oil export data on Oct 31.
> Cargo surveyor SGS releases Malaysia's Oct palm oil export data on Oct 31.
Palm, soy and crude oil prices at 0047 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 5946 -68.00 5896 5978 473848
CHINA SOYOIL JAN7 6718 -44.00 6666 6732 298510
CBOT SOY OIL DEC6 35.2 -0.90 35.01 35.2 1162
INDIA PALM OIL OCT6 536.30 -0.90 535.50 537 805
INDIA SOYOIL NOV6 672.8 -1.70 671.3 677.4 62580
NYMEX CRUDE DEC6 49.69 -0.03 49.59 49.72 2532
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 dipped on Thursday as selling in the Chinese markets and concerns over weak exports outweighed benefits from a weaker ringgit.
* U.S. soybean futures were narrowly higher on Thursday, reaching two-month peaks as they extended gains on the back of big export sales to China and as soymeal futures surged 2 percent.
* Oil prices dipped early on Friday, weighed down by lingering doubts over whether OPEC can coordinate a crude production cut big enough to rein in oversupply that has dogged markets for two years.
MARKET NEWS
* Strong growth data out of Britain prompted the biggest daily sell-off in government debt for months and pushed yields on the world's benchmark bonds higher on Thursday, as expectations eased for a Bank of England interest rate cut.
RELATED
> French parliament rejects new palm oil tax proposal
> Exporters sell U.S. soybeans to unknown destinations- USDA
> IGC raises forecasts for 2016/17 global corn, wheat crops
> COLUMN-Is demand for U.S. soybeans as healthy as it seems?
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Oct palm oil export data on Oct 31.
> Cargo surveyor SGS releases Malaysia's Oct palm oil export data on Oct 31.
Palm, soy and crude oil prices at 0047 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 5946 -68.00 5896 5978 473848
CHINA SOYOIL JAN7 6718 -44.00 6666 6732 298510
CBOT SOY OIL DEC6 35.2 -0.90 35.01 35.2 1162
INDIA PALM OIL OCT6 536.30 -0.90 535.50 537 805
INDIA SOYOIL NOV6 672.8 -1.70 671.3 677.4 62580
NYMEX CRUDE DEC6 49.69 -0.03 49.59 49.72 2532
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