MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch September 19
VEGOILS-Market Factors to Watch September 19
19/09/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures had their sharpest daily fall in a month late on Monday, marking their third straight session of losses, tracking weakness in related edible oils and as a stronger ringgit weighed on the market.
* U.S. soybean futures closed lower on Monday as a bout of technical selling erased early strength tied to export demand and uncertainty about Midwest yield prospects, analysts said.
* Global crude oil prices slipped slightly Monday but stayed close to multimonth highs as traders braced for a potential stockpile build, expected later this week.
MARKET NEWS
* An index of world stocks hit a record high on Monday and the dollar rose to a more-than seven-week peak against the yen as investors awaited clues from the U.S. Federal Reserve on the timing of further rate hikes, while tensions over North Korea eased.
RELATED
> Bangladesh sets aside rift with Myanmar to ease rice shortage
> Australia lifts beef production forecast as adverse weather returns
> Late summer rains, private food supplies limit impact of N.Korea drought
> Dispute over wheat cargoes seized in Egypt seen dragging on
> COLUMN-Coal's rally isn't all about China, it's also quality, supply: Russell
DATA/EVENTS
> 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 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 had their sharpest daily fall in a month late on Monday, marking their third straight session of losses, tracking weakness in related edible oils and as a stronger ringgit weighed on the market.
* U.S. soybean futures closed lower on Monday as a bout of technical selling erased early strength tied to export demand and uncertainty about Midwest yield prospects, analysts said.
* Global crude oil prices slipped slightly Monday but stayed close to multimonth highs as traders braced for a potential stockpile build, expected later this week.
MARKET NEWS
* An index of world stocks hit a record high on Monday and the dollar rose to a more-than seven-week peak against the yen as investors awaited clues from the U.S. Federal Reserve on the timing of further rate hikes, while tensions over North Korea eased.
RELATED
> Bangladesh sets aside rift with Myanmar to ease rice shortage
> Australia lifts beef production forecast as adverse weather returns
> Late summer rains, private food supplies limit impact of N.Korea drought
> Dispute over wheat cargoes seized in Egypt seen dragging on
> COLUMN-Coal's rally isn't all about China, it's also quality, supply: Russell
DATA/EVENTS
> 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 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