MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Nov 14
VEGOILS-Market Factors to Watch Nov 14
14/11/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures rose to their highest in more than four years on Friday, lifted by a volatile ringgit MYR=, better-performing rival oils and Thursday's government data showing lower-than-expected inventories.
* U.S. soybean futures fell 1 percent on Friday, weighed down by concerns about weakness in Chinese markets limiting export demand from the world's top buyer of the oilseed, traders said.
* Oil prices extended declines into a third session on Monday, dragged down by worries about oversupply as OPEC saw record output last month and as the U.S. rig count rose again.
MARKET NEWS
* The U.S. dollar touched a nine-month peak in Asia on Monday as the risk of faster inflation at home and greater bond issuance kept Treasury yields elevated, a painful mix for assets in many emerging market countries.
RELATED
> Trump win opens way for China to take climate leadership role
> China seeks to soothe concerns over illegal GM crops
> India's vegoil import growth slowest in years on bumper harvest
> OPEC points to even bigger 2017 oil surplus as its output jumps
> Cull ordered after bird flu virus found on Austrian poultry farm
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Nov 1-15 palm oil export data on Nov 15.
> Cargo surveyor SGS releases Malaysia's Nov 1-15 palm oil export data on Nov 15.
Palm, soy and crude oil prices at 0033 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 6018 -286.00 5990 6426 888008
CHINA SOYOIL JAN7 6596 -230.00 6486 6878 750640
CBOT SOY OIL DEC6 34.44 +3.80 0 0 0
INDIA PALM OIL NOV6 528.00 +3.80 523.00 539 2415
INDIA SOYOIL NOV6 673 +2.95 669 682.3 9640
NYMEX CRUDE DEC6 43.51 +0.10 43.16 43.59 7108
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 to their highest in more than four years on Friday, lifted by a volatile ringgit MYR=, better-performing rival oils and Thursday's government data showing lower-than-expected inventories.
* U.S. soybean futures fell 1 percent on Friday, weighed down by concerns about weakness in Chinese markets limiting export demand from the world's top buyer of the oilseed, traders said.
* Oil prices extended declines into a third session on Monday, dragged down by worries about oversupply as OPEC saw record output last month and as the U.S. rig count rose again.
MARKET NEWS
* The U.S. dollar touched a nine-month peak in Asia on Monday as the risk of faster inflation at home and greater bond issuance kept Treasury yields elevated, a painful mix for assets in many emerging market countries.
RELATED
> Trump win opens way for China to take climate leadership role
> China seeks to soothe concerns over illegal GM crops
> India's vegoil import growth slowest in years on bumper harvest
> OPEC points to even bigger 2017 oil surplus as its output jumps
> Cull ordered after bird flu virus found on Austrian poultry farm
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Nov 1-15 palm oil export data on Nov 15.
> Cargo surveyor SGS releases Malaysia's Nov 1-15 palm oil export data on Nov 15.
Palm, soy and crude oil prices at 0033 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 6018 -286.00 5990 6426 888008
CHINA SOYOIL JAN7 6596 -230.00 6486 6878 750640
CBOT SOY OIL DEC6 34.44 +3.80 0 0 0
INDIA PALM OIL NOV6 528.00 +3.80 523.00 539 2415
INDIA SOYOIL NOV6 673 +2.95 669 682.3 9640
NYMEX CRUDE DEC6 43.51 +0.10 43.16 43.59 7108
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