MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch September 18
VEGOILS-Market Factors to Watch September 18
18/09/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures dipped in the Friday session, retreating further from a six-month high, as strong export figures cushioned the dampening effects of a rise in export tax for October. POI/
* U.S. soybean futures fell on Friday on profit-taking but the benchmark Chicago Board of Trade November contract still recorded a fourth straight weekly advance, supported by firm cash markets and export demand. GRA/
* Oil prices dipped early on Monday but remained near multi-month highs reached late last week as the count of U.S. rigs drilling for new production fell and refineries continued to start up after having been knocked out by Hurricane Harvey. O/R
MARKET NEWS
* Asian shares crept ahead and the dollar firmed on Monday in a cautious start to a week in which the U.S. Federal Reserve is likely to wrestle with its bloated balance sheet as part of a long reversal of super-cheap money worldwide. MKTS/GLOB
RELATED
> Malaysian palm oil futures seen rising to 3,000 ringgit/T -Mistry
> Palm oil prices to fall 9 pct in Q4 on supply boost-analyst Mielke
> Informa expects more U.S. corn acres, fewer soy in 2018
> Malaysia's Sept 1 - 15 palm oil exports rise 22.2 pct -ITS
> Malaysia's Sep 1-15 palm oil exports rose 21.5 pct
> Cargo surveyor ITS releases Malaysia's Sept 1-20 palm oil export data on Sept 20.
> Cargo surveyor SGS releases Malaysia's Sept 1-20 palm oil export data on Sept 20.
Palm, soy and crude oil prices at 0041 GMT
Contract Month Last Change Low High Volume
MY PALM OIL OCT7 0 +0.00 0 0 0
MY PALM OIL NOV7 0 +0.00 0 0 0
MY PALM OIL DEC7 0 +0.00 0 0 0
CHINA PALM OLEIN JAN8 5718 -52.00 5708 5776 204814
CHINA SOYOIL JAN8 6344 -58.00 6340 6410 201706
CBOT SOY OIL DEC7 34.87 -0.60 34.71 34.91 1123
INDIA PALM OIL SEP7 548.00 -0.60 546.20 550 1048
INDIA SOYOIL SEP7 665.5 +0.35 662.1 666.2 1380
NYMEX CRUDE OCT7 49.84 -0.05 49.71 49.88 2579
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 in the Friday session, retreating further from a six-month high, as strong export figures cushioned the dampening effects of a rise in export tax for October. POI/
* U.S. soybean futures fell on Friday on profit-taking but the benchmark Chicago Board of Trade November contract still recorded a fourth straight weekly advance, supported by firm cash markets and export demand. GRA/
* Oil prices dipped early on Monday but remained near multi-month highs reached late last week as the count of U.S. rigs drilling for new production fell and refineries continued to start up after having been knocked out by Hurricane Harvey. O/R
MARKET NEWS
* Asian shares crept ahead and the dollar firmed on Monday in a cautious start to a week in which the U.S. Federal Reserve is likely to wrestle with its bloated balance sheet as part of a long reversal of super-cheap money worldwide. MKTS/GLOB
RELATED
> Malaysian palm oil futures seen rising to 3,000 ringgit/T -Mistry
> Palm oil prices to fall 9 pct in Q4 on supply boost-analyst Mielke
> Informa expects more U.S. corn acres, fewer soy in 2018
> Malaysia's Sept 1 - 15 palm oil exports rise 22.2 pct -ITS
> Malaysia's Sep 1-15 palm oil exports rose 21.5 pct
> Cargo surveyor ITS releases Malaysia's Sept 1-20 palm oil export data on Sept 20.
> Cargo surveyor SGS releases Malaysia's Sept 1-20 palm oil export data on Sept 20.
Palm, soy and crude oil prices at 0041 GMT
Contract Month Last Change Low High Volume
MY PALM OIL OCT7 0 +0.00 0 0 0
MY PALM OIL NOV7 0 +0.00 0 0 0
MY PALM OIL DEC7 0 +0.00 0 0 0
CHINA PALM OLEIN JAN8 5718 -52.00 5708 5776 204814
CHINA SOYOIL JAN8 6344 -58.00 6340 6410 201706
CBOT SOY OIL DEC7 34.87 -0.60 34.71 34.91 1123
INDIA PALM OIL SEP7 548.00 -0.60 546.20 550 1048
INDIA SOYOIL SEP7 665.5 +0.35 662.1 666.2 1380
NYMEX CRUDE OCT7 49.84 -0.05 49.71 49.88 2579
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