MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Nov 9
VEGOILS-Market Factors to Watch Nov 9
09/11/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures hit their highest in two years and eight months in early trade on Tuesday, as concerns of declining output and stronger soyoil supported prices.
* U.S. soybean futures rose on Tuesday as fresh capital flowed into grain and oilseed markets a day ahead of a monthly government crop report and ahead of the results of the U.S. presidential election, analysts said.
* U.S. oil prices dipped early on Wednesday, weighed by a report of rising crude inventories, but trading was timid as the market was watching the first key U.S. exit polls being released.
MARKET NEWS
* Asian markets were on tenterhooks on Wednesday as early state exit polls in the U.S. presidential election showed wins for both candidates and no clear trend as yet, causing a nervous shift back to safe haven assets.
RELATED
> Asia's oil glut persists: China imports slump, floating storage lingers
> OPEC output curbs could be undone by China slowing crude storage: Russell
> Nippon Steel says high coking coal prices likely to stay awhile
> Egypt gets offers from seven suppliers at wheat tender -traders
> Logistic problems hit Ukrainian grain exports - traders
> China October soy imports drop nearly 6 pct on year -customs
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Oct palm oil export data on Nov 10.
> Cargo surveyor SGS releases Malaysia's Oct palm oil export data on Nov 10.
Palm, soy and crude oil prices at 0110 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 6162 +116.00 6108 6188 422176
CHINA SOYOIL JAN7 6764 +80.00 6712 6770 195890
CBOT SOY OIL DEC6 35.39 +2.10 35.16 35.4 887
INDIA PALM OIL NOV6 519.00 +2.10 518.60 524.9 2664
INDIA SOYOIL NOV6 669.3 +0.85 668.9 676 22450
NYMEX CRUDE DEC6 45.13 +0.15 44.59 45.25 15105
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 hit their highest in two years and eight months in early trade on Tuesday, as concerns of declining output and stronger soyoil supported prices.
* U.S. soybean futures rose on Tuesday as fresh capital flowed into grain and oilseed markets a day ahead of a monthly government crop report and ahead of the results of the U.S. presidential election, analysts said.
* U.S. oil prices dipped early on Wednesday, weighed by a report of rising crude inventories, but trading was timid as the market was watching the first key U.S. exit polls being released.
MARKET NEWS
* Asian markets were on tenterhooks on Wednesday as early state exit polls in the U.S. presidential election showed wins for both candidates and no clear trend as yet, causing a nervous shift back to safe haven assets.
RELATED
> Asia's oil glut persists: China imports slump, floating storage lingers
> OPEC output curbs could be undone by China slowing crude storage: Russell
> Nippon Steel says high coking coal prices likely to stay awhile
> Egypt gets offers from seven suppliers at wheat tender -traders
> Logistic problems hit Ukrainian grain exports - traders
> China October soy imports drop nearly 6 pct on year -customs
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Oct palm oil export data on Nov 10.
> Cargo surveyor SGS releases Malaysia's Oct palm oil export data on Nov 10.
Palm, soy and crude oil prices at 0110 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 6162 +116.00 6108 6188 422176
CHINA SOYOIL JAN7 6764 +80.00 6712 6770 195890
CBOT SOY OIL DEC6 35.39 +2.10 35.16 35.4 887
INDIA PALM OIL NOV6 519.00 +2.10 518.60 524.9 2664
INDIA SOYOIL NOV6 669.3 +0.85 668.9 676 22450
NYMEX CRUDE DEC6 45.13 +0.15 44.59 45.25 15105
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